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There are two ways to repay debts: manually or automatically. This article will show you how to repay your debts on Binance manually. If you want to automate your debt repayment, please click here to learn how to use Auto-Repay.
1. Log in to your Binance account, click [Wallet], and select [Margin] from the drop-down menu.
2. Select the coin you want to repay, click [Borrow/Repay], or select [Repay] at the top of the dashboard.
3. Enter the amount directly or click on the percentage you wish to repay.
Regardless of the repayment amount, any repayment will be applied to the outstanding interest first before being used to reduce the outstanding principal. For further information on the interest rates for each asset, please click here.
Note:
- Your repayment needs to be the same cryptocurrency as the one you borrowed. For example, if you borrowed ETH, your account must have ETH when you repay.
- If you want to use other cryptocurrencies for repayment, you may use the Auto-Repay function to trade your crypto assets for the liability token. See the detailed guide on how to use the Auto-Repay function here.
- You can repay your debt over separate repayments. However, every time you make a repayment, you must repay the interest first.
1. Go to [Wallets] - [Margin] and select [Repay].
2. You can enter the amount directly or click on the percentage you wish to repay.
Note:
- Repayment needs to be in the same cryptocurrency as the one you borrowed. For example, if you borrowed BTC, your account must have BTC when you repay.
- If you want to use other cryptocurrencies for repayment, you may use the Auto-Repay function to trade your crypto assets for the liability token. See the detailed guide on how to use the Auto-Repay function here.
- You can repay your debt in separate repayments. However, any repayment will be first applied to the outstanding interest before reducing the outstanding principal.
Risk Warning: Digital asset prices can be volatile. The value of your investment can go down or up and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance is not liable for any losses that might arise from your use of Margin. Margin trading carries a substantial risk and amplifies both losses and profits. Past performance is not a reliable predictor of future performance. All of your margin balance may be liquidated in the event of adverse price movement. This information should not be regarded as financial or investment advice. To learn more about how to protect yourself, visit our Responsible Trading page. For more information, see our Terms of Use, Margin Service Terms of Use and Risk Warning.