Step 1: Choose the loan parameters.
From the “Take a loan with collateral” page using the loan calculator:
Step 2: Transfer of collateral.The window that opens displays the loan application in the status “Waiting for collateral”. If you choose wrong loan parameters, you can delete this application by clicking on the “Trash” icon and create a new application with correct parameters.
If the collateral falls below the critical level, the collateral will be automatically sold and the proceeds will be used to repay the loan. The balance of the deposit (if any) will be returned to you at the address specified for the return of the deposit. This solution will allow you not to worry about closing the loan in case of a fall in the rate of your crypto-asset!
Step 3: Getting a loan.
After receiving the deposit, the platform will send the loan to the specified address (the status of the request will change to “Loan transfer”):
Check the receipt of the loan on your wallet. After confirming the transfer of the loan to the specified purse, the status of the request will change to “Active”.