FAQ

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Bitcoin-backed loans

Can I open multiple loans?

Yes, you can have up to 3 active bitcoin-backed loans at a time.

Opening multiple loans

To open another loan, visit your Strike app’s Cash tab and follow these steps:

  1. Tap your LTV Tracker to open your Loan Center
  2. Scroll to the bottom of your Loan Center and tap “Open another loan”
  3. Follow the process of opening a new loan

Each new loan is subject to the prevailing APR at the time of opening, which may differ from your existing loans. Once set, the APR remains fixed for the duration of that loan.

Please note, you can open only one new loan per day and each of your loans have different terms, such as Payment at Maturity or Monthly Payments, with varying amounts and APRs. If you already have 3 open loans you’ll need to close one of your active loans before opening another. Loans can be closed 60 days after opening.

Managing multiple loans

Once you have multiple open loans, you can visit your Strike app’s Cash screen to manage your loans:

  • Swipe left or right on your LTV Tracker to view your individual loans
  • Tap on any of your LTV trackers to access the Loan Center for that specific loan.

Within each loan center, you can manage collateral, schedule or make payments, and track the LTV ratio. To stay organized, you can rename your loans by tapping the loan name located above the LTV percentage. This name will appear in all related app notifications and emails, helping you distinguish between loans easily.

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