Procedure To Apply For Binance Loan
Eligibility
1. Age: Must be 18 years or older.
2. Identity Verification: Complete the Know Your Customer (KYC) process.
3. Cryptocurrency Holdings: Hold sufficient crypto assets to use as collateral.
Loan Process
1. Log In: Access your Binance account and go to the "Binance Loan" section.
2. Select Collateral: Choose the cryptocurrency to use as collateral (e.g., BTC, ETH, BNB).
3. Specify Loan Amount: Enter the desired loan amount in the fiat currency of your choice (e.g., USD, EUR).
4. Choose Loan Term: Select the duration of the loan (e.g., 7, 14, 30 days).
5. Interest Rate: Review the applicable interest rate and fees.
6. Confirm Loan: Check and confirm the loan details.
7. Receive Funds: The loan amount will be credited to your Binance account.
Repayment
1. Repay Loan: Repay the borrowed amount along with interest before the due date.
2. Auto-Repayment: Opt for auto-repayment to automatically deduct the loan amount from your Binance account.
3. Collateral Liquidation: If the loan is not repaid, Binance may liquidate your collateral to cover the debt.
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