Getting Started
Access the Loan Page
- Open the OKX App, navigate to Grow > Loan, and select Borrow More.
- Alternatively, log in to your account via the web platform and go to the Loan section.
Select Your Desired Token
- Enter the loan amount in the I Want to Borrow field (App) or Loan field (Web).
Choose Collateral
- Select single-currency or multi-currency collateral in the Collateral section.
Review Order Summary
- Check the terms and conditions box to agree to the user agreement.
Complete the Request
- Tap Done (App) or Borrow Now (Web) to finalize the loan application.
👉 Learn more about flexible loans
FAQs
1. Do I Need to Verify My Account Before Using a Flexible Loan?
Yes. You must complete identity verification to apply for a flexible loan.
2. What Determines My Loan Limit?
Your loan limit depends on:
- Your account’s trading tier.
- OKX’s platform limits (2.5x leverage).
The lower of the two values applies.
3. Why Is My Liquidation LTV Low?
This occurs if you select tokens with a lower discount rate for collateral.
4. Can I Apply for Another Loan After My First One?
Yes, except for currencies already pledged as collateral. Note: If your current LTV exceeds the initial LTV, you’ll need to top up collateral.
5. Why Is My Second Loan Amount Lower Than the Additional Pledge Value?
If your current LTV is higher, the system prioritizes the added pledge as the initial rate before calculating the remaining loanable amount.
6. Why Does APR Vary Hourly?
APR updates hourly. The displayed APR reflects the previous hour’s rate; your loan’s APR adjusts in the next hour.
7. Why Can’t I Use the Same Currency for Collateral and Loan?
Collateral and loan currencies are mutually exclusive to avoid overlap.
8. What Triggers Forced Repayment?
Forced repayment occurs when the platform’s borrowing limit for a crypto asset is exceeded. The system automatically sells collateral to repay the loan.
👉 Explore loan management tips
9. How Does Forced Repayment Work?
Tokens with lower conversion rates are sold first, followed by higher-rate tokens. Equal rates prioritize higher-value tokens.
10. How Are Collateral and Loans Calculated?
Based on spot mark prices.
11. Why Isn’t My Pledge Released After Repayment?
Remaining tokens may have low discount rates, locking the pledge. Reduce collateral incrementally in the loan details.
12. Does BETH Still Earn ETH2.0 Staking Rewards as Collateral?
Yes. BETH collateral continues accruing ETH2.0 staking rewards.
Key Takeaways
- Flexible loans require verified accounts and adhere to tiered limits.
- Collateral choices impact LTV and liquidation risks.
- APR fluctuates hourly; forced repayments protect platform liquidity.