Training to receive Bitloan; Digital currency loan from Bitpin exchange

Bitloan, digital currency lending service in the exchange pin bit which provides its users with the possibility of receiving Rial loans up to 40 million Tomans in exchange for cryptocurrency collateral.

Bitpin digital currency exchange, officially from its new service, Bitloan, unveiled This service is a privilege provided to Bitpin digital currency exchange through the Vanci platform.

Vansi is a platform that obtains credit from banks and some prosperity innovation funds by pledging agreed items such as property and promissory notes, and then offers this credit to the Bitpin exchange in the form of loan points. Bitpin exchange also provides the user with a loan provided by the Vansi platform by taking collateral in the form of digital currency from the user. Bitpin users can, by using the Bitloan service, by depositing some digital currencies, in the form of Online And in The shortest time possiblereceive their requested credit, if a user does not pay his loan installment on time for any reason, Bitpin exchange will have the authority to sell the pledged digital currency to reduce the lending ratio of digital currency to the asset value. .

Since the emergence of digital currencies until today, the global economy has experienced many changes and significant changes have been made in the financial markets; Lending with digital currencies is also an example of these changes and developments, and it is expected that these types of loans will gradually replace traditional loans.

In the process of getting a digital currency loan, people can get crypto loans from exchanges by depositing specified cryptocurrencies. This type of lending is one of the thousands of applications of blockchain technology in the field of DeFi (decentralized finance) and with its increasing development, the use of crypto loans among active users in this field is increasing. Advantages of taking a loan with digital currencies High security, Low interest rate, Diversity in the choice of cryptocurrencies And The high speed of receiving these loans Is.

What is Bitloan service?

Bitpin digital currency exchange, benefiting from strong security infrastructure, always tries to provide new services in the field of blockchain and especially in DeFi matters, and in this regard, it has officially unveiled the new Bitloan service. Bitloan serviceOne of the new Bitpin services for users of this platform is the possibility of receiving crypto loans up to The ceiling is 40 million tomans in exchange for depositing specified digital currencies – currently, Bitcoin (BTC), Ethereum (ETH), Tether (USDT), USDC, BUSD and DAI – Provide.

Getting a crypto loan with the Bitloan service is as fast as possible and online, and as soon as the loan is received, the deposited digital currency will be locked and cannot be traded or withdrawn until the full settlement and payment of all installments. In fact, until the full settlement of the loan, Bitpin will be the custodian of the user’s cryptocurrencies, and the locked balance will not be removed from the user’s account in any way.

What are the conditions for receiving Bitloan?

Bitpin users will need to:

• Register and verify your identity in Bitpin digital currency exchange Level 3 And higher Do.
• specified digital currencies and the required amount of them to receive a crypto loan, In Bitpin wallet have their own

Terms of payment of installments and full settlement of Bitloan

Bitpin users, for Paying monthly installments, they will not need to go to the bank portal and can settle the installments using only the balance of their wallet. Of course, if the balance of the user’s wallet is not enough, it is possible to pay the installments directly through the bank portal. Users can settle their loan and release their deposited digital currency by paying off the loan month by month until the end of the repayment period. In addition, it will be possible to repay the loan at any time by paying the sum of all the installments. Full settlement to do

In the process of taking a loan with digital currency, when the value of the deposit falls below a certain threshold, the Bitpin exchange will ask the user to increase the digital asset of his account to maintain the loan (Margin Call) and Add to your margin; Since digital currencies are very unstable in the short term, the probability of this happening is high, and in such a situation, it is even possible that the lending exchange may transfer some of the user’s digital currencies with prior notice and to reduce the lending ratio of the digital currency to the asset value. to sell

Of course, Bitpin digital currency exchange has taken various measures to solve this concern:

If the time to pay the installments of the received loan is approaching, Bitpin experts and support team, via email and SMS inform the user and even if the sent email or SMS does not reach the user for any reason, the Bitpin call center team will contact him and Necessary information and guidance will provide him with In addition, dear Bitpin users can reduce the risk of their loan deposit being liquidated by increasing the amount of the deposit at any time.

Guide to receiving Bitloan in Bitpin

After completing all the steps and conditions necessary to receive a Bitpin crypto loan, to start registering and receiving a loan, the user must first enter the Bitloan page, which is indicated by the term “instant loan” on the Bitpin platform, and click on the term “loan request”. .

In the next step, select and record the requested amount by moving the bar lever and the amount of guarantee for the loan from among the digital currencies in your wallet. The user can change the loan repayment period from 3 to 9 months depending on their conditions and view the monthly installments, the total installments and the operational cost in real time according to the requested amount and guarantees.

After registering the request, the user can get a digital currency loan at waiting list will be placed in the face Verification of information, will be directed to the stage of “providing a guarantee”. Finally, after reading the text of the crypto loan contract and confirming it, the user must Code received in email And enter the SMS and go signing agreementto click After completing the registration process, the crypto loan is deposited into the user’s account as soon as possible, and the user can transfer this credit to his bank card; The payment of crypto loan installments will also be done from the same panel of Instant Bitpin loan.

Final speech

In this article, we introduced Bitloan, the digital currency lending service of Bitpin exchange; This service is suitable for digital currency holders who need money very quickly and at the same time do not want to sell their digital assets. These holders can use the Bitloan service after registering in the BitPin exchange and depositing Specified digital currenciesuntil the 40 million ceiling Toman, In the shortest possible time and as Online get a loan

Bitpin users will not need to visit a bank portal to pay installments and can settle their installments using only their wallet balance. In addition, it is possible for the user to settle his loan at any time by paying the sum of all installments; Bitpin until the loan is fully settled. Custodian of the user’s digital currencies and will not remove the locked balance from his account in any way.

Frequently Asked Questions

Bitloan is a type of digital currency lending service of the Bitpin exchange, which provides the possibility of receiving Rial loans up to 40 million Tomans in exchange for pledging some digital currencies, completely online.

• What are the conditions for receiving Bitloan?

In order to receive a BitLoan crypto loan, users must register with the BitPin exchange, authenticate to level 3 or higher, and have some listed cryptocurrency in their BitPin account.

• What happens if the asset reaches the threshold of liquidation of the collateral?

In such a situation, the borrower must increase the amount of digital assets in his account to maintain the loan; In some situations, the lending exchange may sell some of the collateralized digital currency to reduce the LTV ratio.

• What digital currencies can be pledged to benefit from Bitloan?

Users of the BitPin exchange can deposit specified, prominent and popular digital currencies to receive BitLoan crypto loans. Currently, these cryptocurrencies are: Bitcoin (BTC), Ethereum (ETH), Tether (USDT), USDC, BUSD, and DAI.