1. Auto Loan: a crypto loan will be automatically triggered when placing an order. It solves the problem in manual loans where the excessive assets become idle assets.
2. Auto Payment: when the available asset of certain coins ≥ To be repaid, 「Auto Payment」 will be triggered. It solves the problem in manual payment where excessive interests are charged due to delayed payment.
3. To-be-repaid: the system will automatically calculate the to-be-repaid amount.
1. What is Auto Loan?
Auto Loan: when placing orders with this function, the system will decide whether to loan or not. If yes, the 「Auto Loan」 function will be triggered and the order will be placed automatically.
1) Orders executed or not won't influence 「Auto Loan」.
2)「Auto Loan」 is only for Limit Order and Market Order.
3) Maximum Available Amount = available asset + maximum loanable coin.
2. What is Auto Payment?
Auto Payment: all the margin accounts will be reviewed every 30 minutes by the system, if the available asset of certain coins ≥ To be repaid, 「Auto Payment」 will be triggered.
1) Auto Payment will be triggered immediately once it is enabled and 「Auto Payment」 will be triggered every 30 minutes afterwards.
2) Amount of payment = unpaid borrowed amount + unpaid interests.
3. What is To-Be-Repaid?
1) Under the limit mode, when the to-be-repaid amount of the trading coin > 0, the icon of to-be-repaid will pop up at the right side of the buying amount.
2) Under the limit mode, when the to-be-repaid amount of the pricing coin > 0 and the selling price has been set, the icon of to-be-repaid will pop up at the right side of the selling amount.
Instruction of Operation
1. Tick Auto-Loan or Auto-PaymentNote: 1) Auto-Loan and Auto Payment can only be manually activated. 2) After clicking Auto Payment, a pop-up window for confirmation will appear on the screen.
1) Take 100-USDT transfer-in as an example.
2) After transfer, the maximum available amount = available assets + maximum loanable asset.
For example, CoinEx supports 10X leverage for BTC/USDT, suppose now the market price of BTC is 67,000 USDT, your available asset is 100 USDT.
1. The loanable pricing amount is 900 USDT, the maximum available amount would be 100 USDT + 900 USDT = 1000 USDT.
2. The loanable trading amount is 900/67,000=0.01343284 BTC, the maximum available trading amount would be 0 BTC + 0.01343284 BTC = 0.01343284 BTC.
3. Auto-loan will be completed after orders are placed successfully.
Take maximum leverage as an example.
Auto-loan will be completed after buying orders are placed successfully.
Note: Users can check the borrowing details on [borrowing records] page.
4. Place an order to sell your holding assets for the payment.
1) When placing a sell order, you should set the price first.
2) The system will automatically calculate the amount after clicking [To-be-repaid] button.
3) An order may be placed in accordance with the to-be-repaid amount. After the order executed, there will be a sufficient amount for payment.
After the order is executed, the system will operate 「Auto Payment」 automatically. (All margin accounts on CoinEx will be reviewed every 30 minutes by the system.)
6. Successful Payment
After you successfully pay off the loan, you can either transfer your assets to your spot account or continue to place more orders.