Can I access my collateral once my loan is opened?
Yes. There are three ways to access your bitcoin collateral once you have opened your loan:
You can retrieve a portion of your bitcoin collateral during your loan, as long as your loan meets these criteria:
If eligible, you can initiate a collateral retrieval by visiting your Cash screen and following these steps:
Once confirmed, your bitcoin will be instantly credited to your Strike bitcoin balance and is available for withdrawal at any time.
If you want to repay your loan in full before the maturity date, you can close your loan after 60 days. This involves paying your full remaining principal and accrued interest using your cash balance or by liquidating bitcoin from your collateral. Your full collateral is returned to your bitcoin balance within 1 business day.
Please note, making an early payment of 100% of your loan principal does not automatically return your collateral. You must either close your loan or retrieve collateral through the Loan Center to access your bitcoin before your maturity date.
On your loan's maturity date, the outstanding principal and interest will be automatically deducted from your selected payment source, which can be changed at any time. Your loan’s remaining collateral will be returned to your bitcoin balance within 1 business day of repayment.
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