If you're considering Coins.ph's Crypto on Credit to trade at higher volumes but have questions, this comprehensive guide covers everything you need to know.
How Crypto on Credit Works
Applying for a Loan
- Navigate to the Credit tab on the Coins.ph website.
- Select the assets you wish to borrow.
- Transfer funds from your Spot Wallet to your Credit Wallet as collateral.
Understanding Wallets
- Spot Wallet: Holds your PHP and cryptocurrency balances (formerly under "Total Balance").
- Credit Wallet: Created exclusively for Crypto on Credit transactions to manage borrowed assets and collateral.
Managing Your Credit
Increasing Your Credit Limit
- Click "Increase Credit" to adjust your borrowing capacity.
- First-time users start with a 0.00 PHP Credit Limit until collateral is transferred.
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Collateral FAQs
- Q: Can I borrow more than my collateral amount?
A: Yes! Borrow limits are flexible relative to your collateral. - Q: What happens to my PHP 10,000 collateral if I borrow the maximum credit?
A: Collateral is returned only after full loan repayment, including accrued interest.
| Collateral Status | Details |
|---|---|
| Locked | Remains in Credit Wallet during loan period |
| Returned | Transferred back upon full repayment |
Interest Rates & Repayment
Calculating Interest
- BTC-collateralized loans: 0.008%/hour
- PHP-collateralized loans: 0.005%/hour (Promo: 0.001% until 02/28/2025)
- New tokens (ETH/SOL/XRP): 0.003%/hour
Repayment Options
- Direct Repay: Use Credit Wallet balance.
- Transfer & Repay: Move funds from Spot Wallet to Credit Wallet.
Key Note: No fixed due dates, but monitor your Liquidation Rate (minimum 10% threshold).
Trading with Borrowed Assets
Available Tokens
Supported pairs include BTC, ETH, SOL, XRP, and more. Check the full list here.
Steps to Trade
- Go to the Trade panel under the Credit tab.
- Select your preferred trading pair.
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Risks & Liquidation
Understanding Liquidation
- Occurs if collateral value falls below liabilities.
- Risk Rate = (Credit Wallet Assets / Total Liabilities).
Loan Restrictions
- Borrowed assets cannot be transferred to Spot Wallets but can be used for trading.
Withdrawing Profits
- Transfer gains from Credit Wallet → Spot Wallet.
- Cash out PHP or withdraw crypto externally.
Note: Collateral-locked assets may limit transferable amounts.
Partnership Background
- BPC Lending Inc.: Credit partner for Crypto on Credit.
- Purpose: Expand trading capital and potential profits.
Eligibility
- Available to all users with ID + Selfie Verification (as of January 2025).
Final Thoughts
Crypto on Credit is designed to enhance trading flexibility and amplify profit opportunities for the Coins.ph community.
FAQ Section
Q: Is Crypto on Credit available on the Coins.ph app?
A: No—transactions are website-only, but balances are visible on the app.
Q: Are there installment plans for repayment?
A: No fixed terms; repay anytime while covering hourly interest.
Q: How is interest compounded?
A: Hourly, based on your loan type and collateral.
Q: Can ETH be borrowed?
A: Yes! ETH is among supported tokens.
Q: What’s the liquidation warning threshold?
A: Maintain a Risk Rate above 10% to avoid forced liquidation.
Q: Are promo rates time-bound?
A: PHP’s 0.001% rate ends on 02/28/2025.