BINANCE LOAN PROCEDURE
Eligibility
1. Age: 18 years or older
2. Identity verification: Complete KYC (Know Your Customer) process
3. Cryptocurrency holdings: Have sufficient crypto assets to use as collateral
Loan Process
1. Log in* to your Binance account and navigate to the "Binance Loan" section.
2. Select collateral*: Choose the cryptocurrency you want to use as collateral (e.g., BTC, ETH, BNB).
3. Specify loan amount*: Enter the amount you want to borrow in the desired fiat currency (e.g., USD, EUR).
4. Choose loan term*: Select the loan duration (e.g., 7, 14, 30 days).
5. Interest rate*: View the applicable interest rate and fees.
6. Confirm loan*: Review and confirm the loan details.
7. Receive funds*: The loan amount will be credited to your Binance account.
Repayment
1. Repay loan*: Repay the loan amount plus interest before the due date.
2. Auto-repayment*: Enable auto-repayment to deduct the loan amount from your Binance account.
3. Collateral liquidation*: If you fail to repay, Binance may liquidate your collateral to cover the loan.
