To use this feature, please go to the My Loans section and click the "Close Now" button found in the card of your active loan.
There you will see the following operation parameters:
- Outstanding loan - the amount you need to repay this loan.
- Collateral repayment - how much of your collateral it takes to repay the loan.
- Collateral return - the amount of collateral, that appears in your YouHodler crypto wallet after the procedure.
This operation only takes a 1% service fee.
After you press the "Close Loan Now" button, our platform will automatically sell the collateral and use the profit to repay the expenses. Any remaining cryptocurrency left over will appear in your Wallet.
Congratulations! You just closed your loan using your collateral’s value.
Please be advised, that all operations will be executed on real crypto exchanges. Hence, the price rate and time of the transactions may vary.