It’s a very straight forward process,
1. You can borrow up to 60% of the value of your crypto.
2. Your Crypto is used as collateral.
3. You receive funds on the spot in cash or immediate transfer
4. You can keep the loan for as long as you need it.
5. Once a month pay the monthly fee, if you want to continue the loan.
6. When you are ready pay the loan back, and you get your crypto back.
7. HAPPY DAYS!
✓ To apply please call us on 1800 628 831.
✓ Or visit one of our offices in Melbourne, Sydney, Adelaide, Perth.
The Crypto that you want to use as collateral for the Crypto loan will be stored in secure cold storage; however, if the price of the Crypto starts to drops and you get a margin call, the coins will be sent to an exchange account in the unlikely event that we might need to liquidate the position. To avoid your Bitcoin or Crypto coins from being sold, simply top up the collateral if the margin call is becoming close. Collateral can be added in the form of both money/cash or Crypto.
Let’s say 1 Bitcoin is worth $10,000- we can lend you up to $6,000. If the price of Bitcoin drops to $7,000, you will receive a margin call. A Margin call means that the liquidation price is getting close, and you will need to top up your collateral, so there is still a sufficient margin. You can top it up with Crypto or fiat.
If you don’t top up the collateral, we will then sell the coins in Kraken or itbit.com somewhere between $6,120 to $6,500. The transaction will be recorded, and we will return the balance to you. The balance is calculated by adding the principal owing plus any outstanding interest and then deduct it from the price that the coin was sold for.
If the price of Bitcoin was to go up to $15,000, you could then request more funds, in this case, an extra $3,000.
We strive for complete transparency in all our dealings. We will be happy to receive your call or visit if you want to understand the process better.
✓ ICOs that requires some capital to be freed up without permanently losing the crypto assets.
✓ Leverage your Crypto (that you may have bought at a higher price) by borrowing
✓ Against your owned Crypto and re-buy Crypto at a lower price.
Visit one of our offices (no appointment needed)
- 1411/227 Collins st, Melbourne
- Suite 906/84 Pitt St, Sydney
- Level 4, 55 Gawler Pl, Adelaide
- Level 3, Suite 16A, 105 St Georges Terrace, Perth
For any questions, please call us on our toll-free number 1800 628 831
Or email us info@bitcoindealers.com.au
