How it works

Blockchain.com Borrow gives our users the ability to borrow USD Digital (more currencies to come) from us whenever they want, using bitcoin stored in the Wallet as collateral. Here’s how it works.

To Start Borrowing:

All you need to start borrowing is to be Gold verified in the Blockchain.com Wallet (unfortunately, users in the United States, Canada, and the United Kingdom are not eligible for loans at this time). Go to the Borrow section of your Wallet (located in the header of the web wallet) and input the amount of USD Digital you want to borrow. The maximum amount you can borrow based on your available collateral (your BTC balance) will be given here for your convenience. There are no limits on the term length of your borrow, but please note that, if you close your loan after less than 30 days, a month’s worth of interest will be deducted from your collateral balance.

Interest:

The interest rate for your loan will be given in the loan creation form. Please note that our interest rates are subject to change.

Collateral:

At this time, we only accept collateral in bitcoin (BTC), to be sent from your Blockchain.com Wallet, but we may expand this to other cryptocurrencies in the future. The transaction will be initiated automatically as soon as you confirm the loan. 

Credit score:

Most lenders will pull borrowers’ credit score reports or other reports of borrowing history, which can have a negative effect on credit scores. Blockchain.com Borrow does not require credit, so taking out a loan with us will not affect your credit score.

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