Biterest team launched instant crypto-backed credit line

4 February 2020
Read: 5 min

The new Biterest platform offers instant loans without a due date of repayment and provides full control of Margin Call to the user

The new Biterest platform is a multifunctional service that combines a bitcoin wallet, an exchanger and a bitcoin-backed credit line.

The loans are now issued in a short time at the lowest interest rate — only 0.033% per day — and they are not limited to a fixed term.

All you need to receive a loan secured with your Bitcoin is located on one page. You should enter a loan amount in USD, select a currency to receive money (BTC, ETH, USDT), specify your payment details and provide bitcoin to your balance in the amount 20% more than the loan.

Regardless of the currency in which you received the funds, the loan amount will be fixed in US dollars (USD). Therefore, the currency to receive the loan does not affect the final amount of repayment.

Same as before, we respect the privacy of our users and do not request your personal data. There is no commission for obtaining a loan on Biterest too.

The benefits of receiving a loan in cryptocurrency

If you are wondering why we recommend to receive a loan in BTC or ETH, the information below will be useful for you.

You will repay the amount fixed in USD regardless of the exchange rate of the currency to receive

You will repay a fixed amount of the loan in USD regardless of the currency chosen to receive a loan (BTC, ETH, USDT).

You keep hodling your bitcoin while reinvesting received bitcoin for extra profit

You can reinvest the received bitcoin on another service or maximize your profit on Biterest

The loan issued in cryptocurrency will be received by you without unexpected delays as it might happen with fiat currencies

Biterest is responsible for issuing a loan within the specified time, however, we are not responsible for the instant receipt of money by the user. Receiving a loan in cryptocurrency, you can exchange it for any other fiat currency wherever you want to.

Let’s turn to questions about the advantages of Biterest:


How has the loan term changed?


The loans on Biterest are not limited by time. The interest is accrued only for the active loan days — 0.033% per day.


How much is it possible to receive in a loan?


The minimum loan amount is 100 USD. The maximum loan amount is limited only by your balance. The larger the current bitcoin value on your balance is, the greater is your loan limit.


How to calculate the collateral for obtaining a loan?


The collateral calculated as a loan amount x 1.2. This means that the balance has to be 20% more than the amount of the requested loan.
If the loan amount is 1000 USD, then the collateral is 1200 USD. In this example, 1200 USD is the minimum amount of your balance when you receive a loan.


Why does the balance need to be greater than the minimum collateral?


The larger the balance amount is, the lower is the risk of Margin Call. Margin Call will occur if the bitcoin exchange rate decreases and the amount on your balance becomes only 10% more than your used loan limit.
For example, if you used 1000 USD of your loan limit, the Magin Call will occur when the balance is 1100 USD.

To control Margin Call in your account use LTV as an indicator

LTV (loan-to-value ratio) is calculated by dividing your used loan limit by the current value of bitcoin stored on your balance.

Margin Call occurs when LTV becomes 90%. It is recommended to control LTV at the level of 50-70% in order to avoid Margin Call. To reduce LTV in the account, top-up additionally your balance or repay partially a loan.


Is it possible to repay a loan partially and withdraw bitcoin from the balance?


You can repay the loan partially. After that, the equivalent part of collateral will become available to you which you can withdraw from your balance.


When a bitcoin rate grows rapidly, is it possible to withdraw bitcoin without repaying the loan?


When the Bitcoin rate increases, it is possible to withdraw bitcoin exceeded the minimum collateral amount. The minimum collateral is 20% more than the loan amount. The minimum withdrawal amount from the balance is the equivalent of 50 USD.


How to repay a loan?


The loan can be repaid with cryptocurrencies and directly from the balance.

Watch this video tutorial on how to get an instant loan on Biterest
in 3 easy steps:

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Biterest DEMO | Receive a loan in demo mode without using real collateral

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FAQ: Answers to the most frequently asked questions on Biterest
14 September 2020

What is the minimum collateral amount? What currencies are available to receive a loan? How long might it take to receive the loan? – you will find the answers to these and the other questions here

Step-by-Step Guide: How to Receive a Crypto-backed Loan on Biterest
22 February 2020

Do you know how to get a bitcoin-backed loan on Biterest? Read the detailed step-by-step guide in order to find out how to start borrowing on Biterest