Collateral loan is a crypto asset service launched by DigiFinex.
You can borrow the held crypto assets as collateral to obtain short-term liquidity and use it as support for repayment and redeem your encrypted assets at any time.
1.How to make a collateral loan
You can make a loan just by making the collateral payment and instantly get your crypto loans without a qualification review!
2.Collateral types and rates
The platform currently accepts BTC \ ETH collaterals, the platform will continue to launch more currencies to meet the needs of more users.
Note: The platform has a fixed collateral rate requirement, the actual rate will be based on the current loan.
*Collateral rate calculation formula: (amount of loaned currency + accumulated interest amount) / amount of collateral currency)
The platform currently supports BTC, ETH and USDT, more information about the specific currency can be found under the details segment.
The collateral loans temporarily supports repayment dues:
You can choose to repay your dues in 7, 15, 30, or 60 days.
Note: The interest is based on the loan period, the longer the loan period the more the discounts.
If the repayment is not made before the deadline, the prepayment fee will not be charged.
The single minimum loan is at 200 USDT while the single maximum loan is at 50,000 USDT.
7.Collateral loan rates
The rates will be determined by the market according to the market conditions, which can be found under the loan segment.
The handling fee is subject to the loan segment which can be differed from the type of loaned currency
Note: There will be currently no handling fee charges until 30th June 2020.
9.Repayment and interest fee payment methods
The repayment has to be made in the same currency loaned. Both the repayment and interest have to be returned in USDT. During the loan period, there will be a daily cumulative interest, which will be set when repayment is made.
Note: We do not support partial repayments, users have to make a one-time payment with the accumulated interest.
If the market currency price fluctuates greatly and reaches the warning line of 80%, the system will notify the user and add the collateral funds to avoid liquidation. When the usage of the collateral rate is above 90%, the platform system will automatically hold a stop-loss to guarantee the safety of the loan funds.
The Safety levels:
Risk Level 0~60: Safe zone
Risk Level 60~70: Stable zone
Risk Level 70~80: Warning zone
Risk Level 80~90: Danger zone
All the assets of the order will be automatically liquidated when a position is closed, the borrower loses the ownership of the collateral and the closed assets cannot be recovered.
Note: The platform does not take responsibility for late notifications due to situations such as third-party notifications. Users have to pay attention to account positions at any time
An overdue will occur when a user fails to make payment on the repayment date. There will be a 3 day grace period with a daily interest charge of 0.5%.However, if the user fails to make payment after the grace period, the platform will have no choice but to force liquidation. (The platform will close the position and automatically clears all the assets in the order. The user will lose his/her ownership of the collateral and the assets that have been closed cannot be recovered.)
How to ask for help：
Tips, beware of false customer service:
1). Do not provide account password, SMS, Google verification code, WeChat and bank card password to anyone including DigiFinex Exchange Customer Service
2). Please look for the official website: Digifinex.vip & DigiFinex.com
3). Don't click on the unofficial link, beware of computer poisoning information leaks.
4). The DigiFinex exchange staff will not ask you to transfer the payment.
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