FAQ of Crypto Loans

Can I repay part of the repayment first? 

Both partial repayment and full repayment are supported. Users can choose the loan currency (USDT) to repay, or delegate ViaBTC to sell their collateral assets for repayment. When repaying, the interest will be paid first and then the principal.

1. Repay in USDT 
Before repayment, the user needs to transfer a sufficient amount of USDT to the loan account. When repaying, the system deducts the corresponding amount from the loan account and unfreezes the corresponding collateral amount.

2. Repay in collateral assets
The user can choose the collateral assets for repayment, set the selling amount and price, and delegate ViaBTC to sell them.

(1) The progress of the delegated orders can be checked on the page of [Loan]-[My Delegation] ;

(2) The system will cancel the unexecuted order if it is not executed completely within 24 hours or liquidation is triggered during the delegated period. The executed part will not be affected.

(3) Unexecuted orders can be canceled manually.

Is there any loan term limit? Can I repay in advance?
You can borrow and repay at any time without forced liquidation.

How to lower liquidation risk?

Method 1: Turn on Auto Pledge
1. Enter ViaBTC official website https://www.viabtc.com, click [Finance] and choose [Loan] after logging in to your account successfully. 

2. Turn on the button of [Auto Pledge].

Method 2: Increase Collateral Assets

1. Choose a coin you need to increase, click [Transfer]. (Take BTC as an example here.) Choose [From Mining Account to Loan Account], enter the available amount or click [Transfer All], and then click [Confirm].

2. Enter the GA/SMS code, and then click [Yes] to complete the transfer.

Auto Pledge

When current LTV ≥ Margin Call LTV, the balance from all of your mining accounts will be transferred into your collateral asset to lower the current LTV to the initial one. The function of auto pledge will be turned on by default and you can turn it off manually.

1. Calculation: Auto pledge amount= Minimum collateral amount - Balance in the loan account =(Total borrowing amount of current collateral coin + Total to-be-repaid interest) / (Index price * Initial LTV) - Balance in the loan account.

2. Rules: Assets from the mining account will be transferred automatically to the loan account. When it meets the auto-pledge amount, assets will end up transferred. If assets from all of your mining accounts are less than the auto-pledge amount, all will be transferred. 

3. Notice:

(1) You will receive email and in-site notification after the Auto Pledge is completed.

(2) If your balance is insufficient during Auto Pledge, or if Auto Pledge is not enabled and LTV ≥ Margin Call LTV), the system will remind you to top up your collateral asset in case of asset loss due to forced liquidation via email, in-site notification, and SMS.

Liquidation

1. When the LTV of a certain coin ≥ the liquidation LTV, the system executes a forced liquidation for all orders of this coin.

2. The system will sell the collateral assets at a fast-executed price to repay the user's loan. If there are remaining assets after the repayment of the principal and interest, it will be transferred into the ViaBTC insurance fund, and the fund will make up for the loss if there are bankrupt positions (the assets from selling coins are not enough to repay the user's debt). In other words, users are free from responsibility. 
Estimated liquidation price = (Total to-be-repaid amount of current collateral coin + Total to-be-repaid interest) / (Balance in the loan account * Liquidation LTV)

3. Notice: You will receive email and SMS notifications when your position is liquidated, or when an delegation is canceled due to position-triggered liquidation.