Introduction
OKX Crypto Loan is a decentralized finance (DeFi) service that allows users to borrow cryptocurrencies by collateralizing their existing assets. Interest accrues hourly, offering flexibility for trading or yield farming. This guide covers how to use OKX’s collateralized borrowing feature via their mobile app.
Key Features of OKX Crypto Loan
- Instant Loans: Borrow against 65% of your collateral’s value.
- Multi-Collateral Support: Pledge single or multiple cryptocurrencies.
- No Platform Fees: OKX charges zero service fees.
- 100+ Supported Assets: Wide range of borrowable tokens.
| Parameter | Details |
|--------------------|----------------------------------|
| Minimum Loan | ~$0.20 (varies by asset) |
| Loan-to-Value (LTV)| Up to 65% |
| Interest Rate | Floating (1%–365% APR, hourly updates) |
Pros and Cons
✅ Advantages
- Fast access to liquidity without selling assets.
- Intuitive interface for beginners.
- Risk isolation with single-asset collateral.
❌ Risks
- Volatile interest rates may surge unexpectedly.
- LTV monitoring required to avoid liquidation (97% threshold).
- Centralized platform risk (OKX operates as a CEX).
How to Borrow Crypto on OKX
Step 1: Register and Fund Your OKX Account
👉 Sign up for OKX (20% trading fee discount for new users). Complete KYC and deposit crypto.
Step 2: Navigate to Crypto Loan
- Open the OKX app.
- Tap Finance > Borrow/Lend.
Step 3: Select Collateral Mode
- Single-Asset: Isolate risk per loan.
- Multi-Asset: Combine multiple coins as collateral.
Step 4: Enter Loan Details
- Input borrow amount (e.g., 10 USDT).
- System auto-calculates required collateral (e.g., 0.0082 ETH at 65% LTV).
- Confirm terms and execute.
Repaying Your Loan
Step 1: Go to Borrow/Lend Dashboard
Access Finance > Borrow/Lend > Current Loans.
Step 2: Enter Repayment Amount
Partial or full repayments are allowed. Confirm to reduce debt.
FAQ
❓ What’s the interest rate?
Rates float between 1%–365% APR. Check real-time rates under Market Rates in the web platform.
❓ How is LTV calculated?
LTV = Loan Amount ÷ Collateral Value
- Warning Threshold: 80% LTV (prompts margin call).
- Liquidation Threshold: 97% LTV (auto-sells collateral).
❓ Can I adjust collateral?
Yes. Use Adjust Collateral to:
- Add funds: Lower LTV and liquidation risk.
- Withdraw funds: Increase LTV (caution advised).
Final Tips
- Start with small loans to test the process.
- Monitor LTV regularly to avoid liquidation.
- Consider multi-asset collateral for diversification.
👉 Explore OKX Crypto Loan today to leverage your holdings!
Disclaimer: Crypto loans carry risks. Never invest more than you can afford to lose.