1. Introduction
Welcome to 247Bitcoinloan.com. By accessing our website and using our bitcoin loan services, you agree to comply with and be bound by the following terms and conditions. If you do not agree, please refrain from using our services.
2. Eligibility
To use our services, you must be at least 18 years of age and possess the legal capacity to enter into a binding agreement. You are responsible for ensuring that using crypto-backed lending services is legal in your jurisdiction.
3. Nature of the Bitcoin Loan
- Collateral: All loans are secured by Bitcoin (BTC) provided by the user.
- Ownership: While the BTC is held as collateral, you retain beneficial ownership, but the platform holds the assets in a secure wallet for the duration of the loan.
- LTV (Loan-to-Value): Loans are issued based on specific LTV ratios. If the value of your Bitcoin drops, you may be required to provide additional collateral.
4. Liquidation Policy
Warning: Cryptocurrency is highly volatile.
- If the LTV ratio exceeds the “Liquidation Threshold” due to a drop in Bitcoin’s market price, the platform reserves the right to liquidate a portion or all of your collateral to cover the outstanding loan balance.
- The platform is not responsible for losses incurred due to automated liquidations during market volatility.
5. Interest and Fees
- Interest rates are disclosed at the time of the loan application.
- Failure to make timely interest payments may result in penalties or the addition of unpaid interest to the principal balance.
6. Repayment and Collateral Release
Upon full repayment of the loan principal and all accrued interest, your Bitcoin collateral will be released to your designated wallet address within [24-48] hours.
7. Prohibited Activities
You agree not to use the loan proceeds for any illegal activities, including money laundering, terrorist financing, or any actions that violate local or international laws.
8. Limitation of Liability
247Bitcoinloan.com provides services on an “as-is” basis. We are not liable for any financial losses resulting from market fluctuations, technical failures, or unauthorized access to your account if you fail to secure your login credentials.
9. Risk Disclosure
By using a bitcoin loan, you acknowledge that you understand the risks associated with digital assets, including total loss of value and the experimental nature of blockchain technology.
10. Amendments
We reserve the right to modify these terms at any time. Continued use of the platform after changes are posted constitutes acceptance of the new terms.