Crypto Loans fulfill traders’ short-term liquidity needs by letting them use their crypto assets as collateral to borrow desired coins. Here’s a comprehensive guide on navigating the web and App interface to access this feature. 

 

 

• Take Out A Loan

• View Your Loan Orders

• Repay a loan and interest

• Adjust Collateral Amount

 

 

Take out a loan 

Step 1: On the Bybit App, tap Finance -> Crypto Loans to head to the Crypto Loans page.  

 

 

Notes: 

— For Standard Account users, you will still be using funds in their Spot Account to borrow funds, repay their borrowing, or adjust the collateral amount. 

— For Unified Trading Account users, you will be using the Funding Account for crypto loans to borrow funds, repay their borrowing, or adjust the collateral amount. 

 

 

 

Step 2: Create a Loan order by filling in the following information. 

a) Select the coin type and enter the amount that you wish to borrow.

b) Select your collateral and the amount that you wish to use as collateral 

c) Choose a loan term. 

d) Review the information at the bottom of the Order page, such as Interest Rate, Total Interest Amount, and Repayment Amount. 

e) Read and acknowledge the Crypto Loans Service Agreement, and click Start Borrowing to confirm your loan order. Interest starts to accrue as soon as your order is confirmed. 

 

 

 

 

 

Step 3: Ensure all the information on the Order Details pop-up is correct, then click Start Borrowing.

 

View Your Loan Orders

To view your Active borrowings in Crypto Loan, tap on the Active Loans page.

 

 

To view your Crypto Loan Orders History, tap on All Loans to enter to Crypto Loan order page. You can view your Repaid Loans, Repayment History, Collateral Adjustment record and Liquidation History,

 

 

Repay a loan and Interest

Step 1: Tap the List icon on the top right corner of the interface, and go to Active Loans.  Click on Repay.

 

 

You can find more information on your past orders under All Loans, where you can view all repaid loans, repayment history, and liquidation history under respective tabs. 

 

 

Step 2: Enter the repayment amount, or click Maximum to enter the maximum repayment amount, then click Repay.

 

 

Step 3: You have successfully repaid your loan and interest.

 

 

 

 

 

 

Adjust Collateral Amount

Step 1: Tap Active Loans to enter the order interface, and choose Adjust Collateral Amount.

 

 

 

Step 2: Under the Increase tab, enter the amount of collateral you wish to add, or click Maximum. By increasing your collateral amount, your LTV and liquidation risk can be reduced. Under the Decrease tab, enter the amount to decrease or click Maximum. Verify the order details and click OK.

 

 

Notes: 

— You can only reduce your collateral amount when the current LTV ratio is lower than the Initial LTV.

— The maximum reduction in collateral is the amount needed to bring the LTV ratio back to its initial level. Hence, you can refer to the maximum reducible collateral amount stated on the window. 

 

You have successfully adjusted the collateral amount!

 

You can view your change in collateral amount from the All Loans → Collateral Adjustment History.