During normal conditions, can we close our loan by selling

Question

Celsius Community

Jackie Chain Chain

During normal conditions, can we close our loan by selling

some of the collateral? Or do we have to have stables coins?

0

17.06.2022

7 ответов

7 просмотров

Fischfettfackel

they will sell if price reaches liquidation level, but you wouldn't wanna let that happen as loans are overcollateralized

0

17.06.2022

Jackie Chain Chain Автор вопроса

Fischfettfackel
they will sell if price reaches liquidation level,...

Ok I mean, if I am currently sitting at 40% LTV, and borrowed USDC against my BTC. Can I use BTC from my collateral to close the loan? i.e. can Celsius liquidate 40% of my collateral BTC, close my loan, and give me back 60% of my remaining BTC ?

0

17.06.2022

Fischfettfackel

Jackie Chain Chain
Ok I mean, if I am currently sitting at 40% LTV, a...

best to check with loans@celsius.network

0

17.06.2022

Random Block

You can request a loan to be liquidated which has a 2% fee I believe and they take enough to pay out the loan and give you the rest from my understanding

0

17.06.2022

Jackie Chain Chain Автор вопроса

Random Block
You can request a loan to be liquidated which has ...

that would be cool

0

17.06.2022

Random Block

Fischfettfackel
they will sell if price reaches liquidation level,...

Yes and as loans are overcollatized they take enough to close the loan and you get the rest I believe if you request to be liquidated

0

17.06.2022