1.What is BitMake Borrow?
BitMake Borrow is a feature that allows you to borrow coins from other users to meet your short-term liquidity needs through automatic system matching. Please note that the system will give priority to the lowest interest rate in the matching process.
2.What are the requirements for using BitMake Borrow?
As long as you are a registered BitMake user and have assets in your account that can be used as collateral, you can borrow coins by enabling the Borrow feature.
3.What can I do with the borrowed assets after using BitMake Borrow?
You can use it for trading or withdrawing coins by transferring the borrowed assets to your wallet account.
4.How do I enable BitMake Borrow?
In the web,tap Personal Center - Borrow page
https://www.bitmake.com/en-US/borrows , then tap enable:
or on the Spot trading page:
5.How is the interest rate charged for BitMake Borrow?
The interest rate will be calculated according to the minimum interest rate provided by the lender and will be settled hourly by the formula: APR/365/24*borrowed amount. You can check the Flow in the asset record.
6.Can I withdraw from my BitMake account?
You can withdraw by first transferring the assets from your trading account to your wallet account, and then withdraw.
7.Does the sub-account can use Borrow?
Yes, but the margin is calculated separately.
8.Can I use a different currency from the one I have borrowed to make a return?
You can use other currencies to return. You can tap Borrowed on the Spot or Futures trading page to return it, and the system will complete the return for you by trading at market price.
9.How long is the borrowing period?
There is no limit to the borrowing period, you can return the borrowed money at any time.If a forced liquidation occurs due to price fluctuations, it will be automatically settled by the system.
10.Can I repay all or part of the borrowed assets in advance?
You can repay the coins in advance, but you cannot repay part of the borrowed assets in advance.
11.How do I repay the principal?
Click Repayment on the Assets - Borrow page; click Borrowed on the Spot or Futures page to make repayment.In the Trade Account - Borrow , locate the corresponding borrowing order and click on repay.