BigONE Loans FAQ

1. What is a digital asset pledged loan?

Digital asset pledged loan is a pledged loan service for digital currency launched by the platform, mainly to solve the problem of user funds in a timely manner. It is easy to operate, quick to approve, and quick to disburse. When borrowing, you only need to pledge a certain amount of BTC, ETH, EOS, etc. to receive the loan .

2. Pawn loan use scenario?

(1) Solve the cash flow problem by not selling coins. For example, you want to buy a slightly expensive item, but the cash flow is not enough, and you have a part of BTC in your hand, but you don't want to sell it. Then you can pledge BTC through BigONE's pledge lending platform, lend the corresponding amount of USDT, and then exchange USDT for fiat currency, you can solve the problem of cash flow.

(2) See more market quotations. For example, the upward trend of the current market is clear, you can exchange the USDT or other currencies held by BigONE mortgage loan to BTC; or mortgage BTC to borrow USDT and continue to buy BTC or other currencies, in order to achieve excess income.

(3) Stop loss on short market. For example, the current downward trend of the market, you can exchange the BTC in your hand through BigONE pledge loan to USDT, and realize that the currency is not sold to counter the downward trend.

3. How to use BigONE's loan function?

(1) Go to the "Finance" page and click "I want to borrow money"

(2) Select the currency you want to lend

(4) Enter the loan amount, select the number of loan periods, and click "Confirm"

(5) Enter the transaction password

(6) If the loan is successful, the system will automatically issue the corresponding currency to your financial account

4. What are the eligibility requirements for borrowing?

Through KYC1 certification, you can borrow money after paying the pledged assets.

5. How to calculate the pledge?

The current BTC pledge rate is 65%, and the ETH pledge rate is 65% . For example: if you pledge 10 BTC and the pledge rate is 65%, then the amount you can borrow is the amount of USDT corresponding to 10 BTC × 65%.

6. Repayment and interest payment methods?

BigONE's loans use the method of paying interest first, then principal, paying interest monthly, and returning principal on the last day. For example: if your loan is 3 months, then you only need to return the interest for the first two months, and the principal + interest for the last month.

7. Requirements for early repayment?

You can choose to repay in advance on any day. Early repayment requires a one-time return of principal and interest that has been incurred.

8. How to calculate the prepayment interest?

If you repay in advance, the part less than one month will be calculated according to the actual borrowing time. Example: Your loan period is 2 months, and the actual borrowing time is 30 days.

9. Is there a handling fee for early repayment?

There is no handling fee for early repayment, you can return the principal + interest.

10. Can I set up automatic repayment?

Only need to ensure that the account funds are sufficient, the system will automatically deduct the interest or principal that should be paid in the month on the repayment date. The automatic deduction order is: wealth management account-currency account-legal currency account. If the automatic repayment fails due to insufficient funds in the account or other reasons, you can still repay manually.

11. What is the impact of overdue?

Overdue will be charged a late fee, the specific calculation rule is the current outstanding amount × 0.2% × overdue days ; In addition, if the principal and interest should be repaid in the last period, more than several days past due, the borrower maliciously fails to repay It has the right to close its positions automatically and to recover the loan principal + interest by selling the pledged assets.

12. Can interest be reduced?

You can follow the preferential activities of the BigONE platform and get daily interest rate discounts  through participating in the activities .

13. Can BigONE's loans be transferred?

The loans you receive through BigONE can be transferred to other wallets or exchanges at any time, and you can also use various digital currency related services provided by BigONE.

14. The loan term and rate?

When a user applies for a loan, the system automatically freezes the corresponding value assets in the wallet account in order as a deposit. For specific details of each currency, please refer to the "rate description", and the number of loan periods can be selected as needed.

15. Early warning and liquidation?

In order to strictly control asset risk, BigONE has set up an automatic early warning and liquidation mechanism. When the digital currency rises and falls sharply (the warning line 75%, the closing line is 85%) , the platform system will automatically issue a warning line reminder, please check your account positions and deal with it in time to avoid your assets being touched by the closing line Was forced to close the position.

16. How to redeem mortgaged assets?

After the performance of the contract is completed, the system will automatically release the frozen assets. If the payment is not made on time, the overdue fee for late payment = the amount not paid (principal + interest) × overdue fee rate × overdue days

17. Why choose BigONE?

• Safety. BigONE has a technically strong cold wallet solution. No security incidents have occurred in the past five years, eliminating the risk of theft from the source.
• Sufficient funds. BigONE has always adhered to the principle of 100% reserve, ensuring sufficient funds, transparent assets, and guaranteeing users' payment.
• Rich pledge assets. BigONE has already opened BTC, ETH, EOS ... assets pledge.
• High efficiency. The procedures are simple and transparent, with quick approval, quick disbursement, and account arrival in seconds.
• Free repayment. BigONE currently provides 1 month，2 months，3 months and 6 of loans, during which repayments can be made in advance.
• Interest is calculated daily. When repaying in advance, the interest is calculated according to the actual number of borrowing days.