How to add collateral to your loan?

Modified on Tue, 19 May at 3:30 PM

In Bit2Me Loan, you can add more collateral to your active loan at any time. This allows you to reduce your LTV (Risk) percentage and minimize the danger of your funds being liquidated.

To do this from your Mobile App, follow these steps:

Access the details screen of your active loan that you wish to protect.
Tap the central button "Manage your loan".
In the expanded bottom menu, select the option: "Add more collateral".
Select the funds you will use (your available cryptocurrency). *
Enter the exact amount of extra collateral you want to add using the numeric keypad. On the screen, you will see a simulation of your "New LTV".
Tap the button "Review operation" and confirm the transaction.
Done! Your loan is now more secure.

* Note: If you requested the loan using another cryptocurrency as collateral (e.g., ETH instead of BTC), the screen will ask you to add that same currency.

Important:

The cryptocurrency you wish to add as collateral must be available in your main Wallet.
If you don't have sufficient balance, the App itself will display a screen indicating "No balance" and will give you the quick option to buy more or transfer your funds from your Earn or Pro wallets.