You can make early payments on your loan at any time, or close-out your loan to have your collateral returned:

• Early payments: Making early payments reduces your loan’s outstanding principal amount, which in turn lowers the interest that will accrue daily moving forward. There are no fees for making early payments.
• Closing your loan: To have your collateral returned prior to the loan’s maturity date, you must close your loan. Closing your loan is available 60 days after your loan is opened, and involves repaying all outstanding interest and principal from your cash balance or liquidating sufficient bitcoin collateral.

Please note, making an early payment of 100% of your principal is not the same as closing your loan and will not automatically return your collateral. While it stops further interest accrual, you must still formally close your loan to have your bitcoin collateral returned prior to the maturity date.

How to make an early payment:

To make early payments on your loan, visit your Strike app’s Cash tab, and follow these steps:

1. Tap the LTV tracker to open your Loan Center
2. Tap “Manage LTV”
3. Select “Pay cash”
4. Enter an amount you would like to pay
5. Review and confirm your payment

Currently, the option to increase your loan amount by borrowing additional cash against your posted bitcoin collateral is not available. Follow Strike on social media for updates on new features.

Important notes on early repayments:

• Reducing principal: Making early payments reduces your LTV and the principal amount of your loan, which in turn reduces the amount of interest that accrues on your loan moving forward.
• Early payment source: Currently, you can only make early payments using your cash balance, not your bitcoin or linked bank account.
• Daily interest accrual: Interest on your loan accrues daily, meaning after you make an early payment, interest will have accrued on your loan’s previous principal amount up to the date that you made the payment.