Are you a Coins.ph user diving into the world of Crypto on Credit? You might encounter a situation where you can't transfer your borrowed assets from your Credit Wallet back to your Spot Wallet. Learn about the limitations of transferring borrowed assets on Coins.ph's Crypto on Credit feature for effective portfolio management.
Understanding the Credit Wallet Ecosystem
Before we delve into the reasons for transfer limitations, let's clarify the roles of the Spot and Credit Wallets:
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Spot Wallet:
Your primary Coins.ph wallet for storing, buying, and selling cryptocurrencies, and managing PHP. It's used for everyday transactions like paying bills or buying load.
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Credit Wallet:
This wallet is specifically designed for the Crypto on Credit feature. It isolates funds used for credit trading from your Spot Wallet, holding collateral and borrowed assets.
Coins Website - Spot Wallet |
Coins Website - Credit Wallet |
Why Transfers Are Restricted
Several factors determine why you might not be able to transfer borrowed assets:
1. Collateral Protection
- Borrowed assets are partially locked to maintain the platform's security
- Transfer restrictions help prevent potential defaults
- System ensures sufficient assets remain to cover liabilities
2. Risk Rate Management
- Transfers directly affect your Risk Rate (Credit Wallet assets/Total Liabilities)
- Moving assets could trigger liquidation risks
- Platform automatically limits transfers to maintain safe risk levels
3. Maximum Transferable Quantity
- Each currency has a specific maximum transferable amount depending on current balance and liabilities
- Calculated based on your current collateral and borrowed positions
- Visible in the Max. transferable qty column on your Portfolio tab
How to Check Your Max. transferable qty
To understand your current transfer capabilities:
- Navigate to the Portfolio tab
- Select the Credit section
- Review the Max. transferable qty column
- Consider your current Risk Rate before making transfers
Frequently Asked Questions
What happens if I try to transfer more than the allowed amount?
The system will prevent transfers exceeding your maximum transferable quantity to protect your account.
Can I increase my Max. transferable qty limits?
Yes, you can increase transfer limits by either adding more collateral or reducing your borrowed assets.
What should I do if I need to transfer more than my Max. transferable qty limit?
Consider either repaying part of your loan or adding more collateral to increase your transfer limit.