Are you interested in expanding your crypto trading potential on Coins.ph? Crypto on Credit is an innovative feature that allows you to trade with borrowed funds, potentially increasing your trading volume and opportunities.
What is Crypto on Credit?
Crypto on Credit lets you borrow funds to trade cryptocurrencies on the Coins.ph platform. This means you can leverage your existing capital and take advantage of market opportunities, even with limited funds. The service is made possible through a partnership with BPC Lending Inc.
Is Crypto on Credit right for you?
- Potential for higher returns: By trading with borrowed capital, you can potentially magnify your gains (and losses).
- Access to more trading opportunities: Crypto on Credit allows you to participate in trades that might be out of reach with your current funds.
Requirements for Crypto on Credit
Before you begin, ensure you meet the following criteria:
- Account Verification: Your Coins.ph account must be ID and Selfie Verified or higher.
- Agreement with BPC Lending Inc.: On the Crypto tab, you must read and accept all Business Terms with BPC Lending .
- Customer Profile Quiz: Once accessed on the crypto tab, complete a short quiz to assess your understanding of the product.
Step-by-Step Guide to Apply for Crypto on Credit
1. Access the Credit Feature
- Log in to your Coins.ph account
- Access the Credit tab on your the Portfolio tab of Coins App, or from the left panel on the Coins website
2. Complete the Agreement Process
- Review the partnership details with BPC Lending Inc.
- Read all terms carefully
- Check all required boxes to acknowledge understanding
- Click Sign Agreement to proceed
3. Pass the Knowledge Assessment
- Complete the mandatory customer quiz
- Answer questions about the product features and risks
- Pass the assessment to gain access to credit trading
4. Set Up Your Credit Wallet
- Transfer initial funds from your Spot Wallet to serve as collateral
- With your initial funds on the Credit wallet, review your available credit limit and available trading pairs
- Learn more on the onboarding tutorial to understand the trading interface
Understanding Your Credit Wallet
When you use Crypto on Credit, a dedicated Credit Wallet is automatically created. This wallet separates your borrowed funds from your existing funds, which are now located in your Spot Wallet. Learn more about sending funds between your Spot and Credit wallet here.
How to Use Credit Services
Once done with the preparations and with funding your Credit wallet, you can now utilize the Crypto on Credit services, and increase your trading volume and opportunities. Know how to start your first credit here.