Getting started with Crypto on Credit on Coins.ph opens up new possibilities for expanding your trading capacity. Learn how to start your first Crypto on Credit trade on Coins.ph.
Setting up for Crypto on Credit
Before diving in, ensure you meet the requirements and follow the prerequisites on applying for Crypto on Credit here.
Starting Your First Crypto on Credit Loan
1. Log in to Coins.ph via Web Browser
For features involving transactions on Crypto on Credit, proceed to the Coins.ph website. But you may also apply on the Coins.ph app.
2. Navigate to the Credit Tab
On the left-hand navigation bar, click on Credit.
3. Review and Sign the Agreement
Carefully read through and comply with the requirements for Crypto on Credit.
4. Increase Credit (If Needed)
Access your newly created Credit Wallet. Note that your initial Credit Limit will be 0.00 until you add collateral.
- Select Collateral Asset: Choose which asset you want to transfer as collateral from your Spot Wallet.
- Input Collateral Amount: Enter the amount of your chosen asset you want to transfer from your Spot Wallet.
- Add Asset: If you need to add more to your Spot Wallet balance, click Add asset to cash in or deposit to your Spot Wallet first.
5. Borrow Assets
- Select Borrow Asset: Choose which asset you want to borrow from the drop-down menu under I want to borrow (current available currencies here).
- Input Borrow Amount: Input how much of the asset you want to borrow under Borrow amount”. Note the minimum and maximum borrowing amounts, which are relative to your current Credit Wallet balance.
And that’s it! Your borrowed assets are now available on your Credit Wallet balance. Check the Total Balance and Borrowed columns on your Portfolio to see your current available assets to use for your trading strategies.