With the Set Close Price feature ( aka. Take Profit ) you spend less time watching the market and waiting for the price growth.
As soon as the price of your crypto-collateral reaches the Take Profit point, our platform sells the collateral to repay the loan and you receive the profit from the selling operation to your wallet.
How to get a loan with Take Profit
You can set the Close Price at the beginning of getting the loan.
On the "Get Loan" form, check the "Set Close Price" checkbox and enter the price of the crypto that will dictate when your loan should close.
Please, be advised that this price will be the maximum Take Profit, available for this loan.
Please set the desired Close Price ( Take Profit level ) and click the Get Loan button.
Congratulations! You have opened the loan with the Take Profit.
How to add Take Profit to the active loan
If the Close Price ( Take Profit ) wasn't set for the loan in advance, you can set it on the My Loans page.
Please, use the Set Close Price button to set the Take Profit for your loan.
You can set the price which your loan will close at and see the expected fiat profit amount.
Please, be advised that this price will be the maximum Take Profit available for this loan.
Congratulations! Now your loan is secured with the Take Profit.
Please, be advised that if you set Close Price, it can not be canceled, but can be edited.
How to change the Take Profit
To change the existing Take Profit, please visit My Loans page.
Next to the loans Take Profit amount, you will see a small Edit button
After this button is clicked, the Edit Close Price form will appear.
You will see the "Latest close price", and will be able to set the Take Profit amount lower.
Options Close now, Extend PDL, Increase LTV and Reopen will be disabled for the loans with the Close Price (Take Profit) set.
Please, be advised that editing Take Profit will be charged with a 0.5% service fee.