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How the "Close Now" feature works on an opened loan
How the "Close Now" feature works on an opened loan

Use the collateral value to repay your loan

Updated this week

This feature allows repaying the loan using your loan collateral market value. Our platform automatically sells the collateral and uses the profit to cover the loan repayment. The remaining cryptocurrency appears in your Wallet.

To use this feature, please go to the My Loans section and click the "Close Now" button found on the card of your active loan.

There you will see the following operation parameters: 

  • Outstanding loan - the amount you need to repay to close your loan;

  • Current collateral price - the current market value of your collateral;

  • Collateral repayment - how much of your collateral is taken to repay the loan;

  • Service fee - loan closing commission;

  • Collateral return - the amount of collateral that appears in your YouHodler crypto wallet after applying the Close now feature.

Once you check all numbers, press the Close Loan Now button.

Please be advised:

  • This operation requires a service fee. You can see the amount on the Close Now page;

  • All operations are executed on real crypto exchanges. Hence, the price rate and time of the transactions may vary.

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