Take control with Stableloans!
It’s time for a brand new edition of Crypto Life Highlights!
This month, we’re shining the spotlight on Stableloans. Read on for everything you need to know.
What is a Stableloan? 🤔
A Stableloan is a fixed-term loan that makes borrowing a breeze!
Tailored to your needs, a Stableloan lets you access a line of stablecoin credit to borrow at a fixed period of 6, 12, 18, and 24 months. It also shows you the exact amount of interest you’ll need to pay before you take one out, so no surprises!
Simply choose the amount you want to borrow and for how long, and you can borrow up to 50% of your collateral value, with the first 10% LTV interest-free! Your crypto is used as collateral, meaning you won’t have to sell your assets either.
How does interest work? 💭
You’ll be given your interest rate before you take out a Stableloan, so you’ll always know how much interest to pay. And remember, if your LTV is below 10%, it’s interest-free!
But if you have any overdue interest, you can pay this off separately from your Stableloan. You’ll also be given an overview of your interest amount and any number of missed payments, so you’ll always be in the loop.
How do I manage my LTV ratio? ⚖️
Managing your LTV is easy! There are no hidden fees or extra charges — you only have to pay for the total interest amount agreed when you open the Stableloan.
Simply manage your LTV level to avoid partial liquidation of your assets.
With this in mind, you’ll be notified when your LTV reaches a certain level so you can always stay on track.
Here’s how it works:
- 60% LTV — you will be notified and asked to add more collateral to your Stableloan
- 70% LTV — urgent action required, as your assets are at risk of being liquidated
- 80% LTV — part of your assets may be liquidated to repay some of the principal owed. To prevent further liquidation, you will need to add more collateral or repay your Stableloan
How to open a Stableloan 👀
To open a Stableloan, you will need to login to your CL account and select Stableloans. From there, you’ll be taken to our Stableloan calculator where you can:
- Select your payout currency (USDT, USDC or EURT)
- Use the slider or enter the amount you’d like to borrow
- Choose your source of payment for collateral (BTC or ETH)
- Select your LTV level (10%, 25%, 33%, 50%)
- Choose the length of your Stableloan (6, 12, 18 or 24 months)
If you’re happy with the deal, simply select Request Stableloan and you’re all set!
That’s a wrap! 👏
We’ll see you in a month’s time for our next edition. Stay tuned!
