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Gate.io > Help Center > HODL & Earn > Crypto Secured Loan
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About Crypto Loan
Updated at:799 days 19 hours ago

1.Crypto loan refers to users pledging a digital token to avail a loan in the form of another digital token.

2.Formula for calculating interest:

Interest = loan volume * daily interest rate/24 * total number of hours.

Interest starts to accumulate once the loan has been borrowed. For loans paid off within 4 hours after borrowing, the interest is calculated as 4 hours. After 4 hours, the interest is calculated on an hourly basis. Less than 1 hour will be seen as 1 hour.

4.Borrowers can repay loans in advance and the interest will be calculated according to the actual number of hours (for loans paid off within 4 hours after borrowing, the interest is calculated as 4 hours. Less than 1 hour will be seen as 1 hour.). No additional fees or fines will be generated in advanced repayments.

5.Crypto loans must be fully paid off at one time. Partial repayments will not be accepted.

6.Gate.io provides risk management services according to the loan-to-collateral ratio of crypto loans

(1) Loan-to-collateral ratio = value of the loan (including interest) / value of the collateral;

(2) The lower the loan-to-collateral ratio, the safer the collateralized funds and the lower the risk of liquidation;

(3) The initial borrowing loan-to-collateral ratio is 70%;

(4) When the loan-to-collateral ratio reaches 80%, Gate.io will remind the borrower through email or app notifications that the loan-to-collateral ratio has reached 80% and the borrower can add collateral to the position, thereby lowering the loan-to-collateral ratio and the risk of liquidation.

(5) When the loan-to-collateral ratio reaches 90%, Gate.io will automatically close the position and convert the collateral into the borrowed currency to pay off the loan.

(6) The left collateral will be returned to the borrower after the forced liquidation. The number of left collateral assets may be affected by the market volatility. Principle and interest receivable of the lender would not be affected by the forced liquidation.

7.Before the repayment is made, partial or full withdrawal of the collateral is suspended.

8.Gate.io has the right to promptly liquidate orders that are overdue or above the risk control threshold.

10.When borrowing a crypto loan, users should be aware of the constant price fluctuations of digital assets. Please operate cautiously and always manage risks.

11.Users must agree that all investments made on Gate.io represent their true intentions, and unconditionally accept the potential risks and gains brought by their own investment decisions.

12.Gate.io does not take responsibility for the potential delays of emails on any third-party software. Please check your account frequently.

*The right of final interpretation of this document is reserved by Gate.io.

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