How to repay borrowed coins on Dubai OKX

To repay borrowed coins on Dubai OKX, ensure sufficient funds in your spot wallet and initiate repayment through the "Finance" tab after reviewing your loan details.

Oct 22, 2024 at 04:54 pm

How to Repay Borrowed Coins on Dubai OKX

1. Check Your Loan Details

• Log in to your OKX account.
• Navigate to "Finance" > "Loans" > "My Loans."
• Review the details of your borrowed coin, including the amount borrowed, loan rate, and repayment date.

2. Prepare for Repayment

• Ensure you have sufficient funds in your spot wallet to cover the repayment amount.
• The acceptable repayment methods include OKX tokens (OKB, USDT, BTC, ETH, etc.) or stablecoins (BUSD, USDC, DAI, etc.).

3. Initiate Repayment

• Click on the "Repay" button for the loan you wish to repay.
• Enter the amount you wish to repay (up to the full outstanding balance).
• Select the preferred repayment method from the dropdown menu.
• Confirm the payment.

4. Monitor Repayment

• The borrowed coins will be deducted from your spot wallet, and the loan balance will be reduced accordingly.
• Check your loan details regularly to ensure timely repayment.
• If you have questions or require support, contact OKX customer service through the specified channels.

Additional Considerations:

• Repaying your loan on time will maintain a positive credit history on OKX.
• Failure to repay your loan may result in liquidation of your collateral and additional fees.
• Dubai OKX may adjust repayment terms and conditions periodically, so it's recommended to review the latest updates.