Terms of Using Bitcoin Loan Service (hereinafter referred to as the “Terms”) are specified by BTCBOX (hereinafter referred to as the Company”) according to the Bitcoin Loan Services (hereinafter referred to as “Bitcoin Loan”). Customers should use this service on the basis of agreeing to the Terms.
- Definition within this term
- “Holding amount”: the amount of JPY and Bitcoin in the account. Bitcoin’s amount is calculated by the latest transaction price to JPY.
- “Loan assets amount”: the JPY-converted amount (based on the latest transaction price) of the total volume of Bitcoin currently borrowed by the customer.
- “Net assets amount”: holding amount deducted by loan assets amount.
- When the ratio of the holding amount to the loan amount falls below 110%, all borrowed Bitcoin will be forced to be repaid from net assets.
- When receiving the request of borrowing Bitcoin, The Compnay will lend it in order (starting from the lowest fee rate).
- The minimum loan amount is 0.1BTC. Loan assets limit is 2 times of principal. In addition, it is unavailable to borrow more Bitcoin than the total amount which the company could offer.Loan could be repaid in installment. The amount of single repayment and the balance to be paid can ’t be less than 0.1BTC.(Example: for the repayment of 0.19BTC, it can’t be finished by 0.1BTC & 0.09BTC dividedly)
- Fee is calculated on a daily basis (calculation at 24:00 JST daily). For the borrowing period which is less than 1 day (but 24:00 JST already passed), a fee of 1 day’s amount will be calculated.
- The total fee is calculated as the daily fee rate when lending the Bitcoin.
- Before finishing repayment, the customer who borrowed Bitcoin is unable to withdraw JPY or Bitcoin. Selling & withdrawal is still available for other types of cryptocurrency, but unavailable to purchase.
- Loan applications are processed in each individual application (repayments are also processed separately). For repayment, the fee will be paid in priority.
- In principle, there is no deadline set for the repayment of Bitcoin borrowed. However, The Company will set a repayment period if necessary.
This clause is a translated version of Japanese manuscript. It is for reference only and does not have any legal validity. Please refer to Japanese manuscript for more details.