💰Borrow
Borrowing on DecentraCredit only takes a couple of clicks! No hidden T&C, no fancy paperwork, no KYC!
Go to <URL>.
You will be presented with a page like this.
First, let's filter the results according to our preferences.
Amount: Input the amount you want to borrow.
Borrow: Mention the asset you want to borrow.
Collateral: Choose the Collateral you are willing to present.
Liquidation Ratio: Choose a Liquidation Ratio you are comfortable with. The value is in %age.
Once done, click on Filter. Only those Lenders who match your criteria will be shown now.
Go through the list and choose a lender.
Click on Borrow USDT (if USDT is what you want to borrow, as shown in this example). You will be presented with a box like below:
On the left side, you can see the terms and conditions as mentioned by the Lender, including Rate of Interest, Available Funds, Borrowable Limits and Collateral.
On the right side, input the amount of BTC (used as an example) you want to put forth as collateral. Make sure your wallet holds that amount of BTC or more.
In the box below, input the amount of USDT (used as an example) you want to borrow. Make sure it’s below the available amount from the Lender.
Click on Borrow.
You are DONE!
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