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
- “Net assets”: the amount of yen and Bitcoin held by customer (loan assets not included).
- “Loan assets” : assets borrowed by customer from the company.
- ”Total assets of Bitcoin loan”: the total amount of net assets and loan assets.
- When the Total assets are less than 110% of the Loan assets (Total Assets (Net Assets + Loan Assets) / Loan Assets ≦ 1.1), the assets will be used to finish forced settlement.
- When receiving the request of borrowing Bitcoin, the company will lend it in order (starting from the lowest fee rate).
- Loan assets limit is 2 times of net assets. In addition, it is unavailable to borrow more Bitcoins than the total amount which the company could offer.
- Fee is calculated on a daily basis (calculation at 24:00 JST daily). For borrowing period which is less than 1 day (but 24:00 JST already passed), fee of 1 day’s amount will be calculated.
- The total fee is calculated as the daily fee rate when lending the Bitcoins.
- Withdrawal functions (JPY and cryptocurrency) are inaccessible when having a loan.
- 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.
- About the clause
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.