A few frequently asked questions

Cryptolend and Margin Lending

What is Margin Lending?

On some specific exchanges (Bitfinex), you can loan assets to traders who want to make margin trading: This is called margin lending.
By providing this service to traders, you’re paid an interest rate which follows a market, based on offer and demand.

The particularity of margin lending is that the loan is made for a specific trade (the borrower cannot do whatever he wants with the assets) and that the exchange platform, acting as a middleman, offers several protections to the lender, ensuring very low risk of not getting your money back.

It is understood that the margin trading can very risky and reserved to experienced traders.
Margin lending is safe and open to anyone having account on Bitfinex.

How safe is Margin Lending?

The security mechanism (such as margin call) in place by Bitfinex ensures to the lender no risk in loss of assets, and ensures payment of interest.

The only remaining risks would be linked to significant system collapse at one or both of these exchanges, which would really mean a major event in the cryptoworld, impacting everybody and everything, for example:

  • hack of the exchange
  • fraud or seizure,
  • a very large price movement where loans can not be covered, nor insured.

What are the advantages of Margin Lending over other forms of lending?

Crypto lending is very fashionnable and takes many forms.
However, with Margin Lending your assets remain in well known exchanges with long reputation, and your assets are lent for specific / controlled trades.
You never have to hand over your assets to unknown third party, or newly created companies.
Even Cryptolend.net will never have access to your assets.

Pricing

Can I use Cryptolend for free?

Yes, you can use the Basic Membership.

How to benefit from Free Premium Trial?

Once you top-up your account for the first time, you become a premium member and you are automatically eligible for a 15 days free trial period.

If you are not completely satisfied with the premium features during the trial period, you may request a full refund.

How does Free Premium Trial work?

During the first 15 days of your Premium membership, you will have have access to all Premium Features, however, the bot will not charge any fees to your bot credit.

After this period, the fees will be applied automatically.

If you are not completely satisfied with the premium features during the trial period, you may request a full refund.

How to pay for Premium Membership?

You need to fund your Credit Bot (fee pre-payment) from the dashboard page.

The amount you will have in the Credit Bot is a fee pre-payment.

We accept BTC, ETH, BCH and LTC.

As soon as your Credit Bot is positive, your will have Premium membership.

The bot will not access your funds on the exchanges for security reasons.

What is the Credit Bot?

For security reasons, CryptoLend does not take the fees directly from the interest.

The fees can only be collected from a prepaid credit from you to CryptoLend.

We call that the “Bot Credit”.

How does the bot charge the Premium fees?

The bot will charge the Credit Bot (fee pre-payment) with the 3% percent of your earned interest, on a daily basis.

The bot will calculate and convert your fee to the Credit Bot currency chosen. The change rate is processed from the average ticker price of the day.

The bot will not access your funds on the exchanges for security reasons.

When will the bot charge my account?

The billing is realized once per day, at about 11:00 UTC. It is calculated out of the loan earnings of the day before.

How much will I be charged?

You will be charged 3% of the interest you earned from your loans.

For example, yesterday if you had 1 loan of 5 bitcoins at 0.02%/day, you should have earned 1mBTC. The bot will charge 3% of this value, which is 0,00003 bitcoins.

We also offer an additional tiered discount for large funds holder. Please contact us by email or by pm on the ticket system.

Where can I see my remaining Credits Bot?

You can see your remaining credits in the Membership part of the dashboard. You can also click on the link “+ Bot credits” to get more details.

Can I see the history of fees charged?

To display your billing history: open your dashboard and click on the small timer icon besides your remaining credits.
Alternatively you can access CSVs and reports in our report section.

What happens if my credit goes below zero?

Should your Bot Credit run out, your account will remain active, running under the basic membership.

All Premium features will be reactivated as soon as your credit is positive again.

Why is Bitmex not charged?

Our Bitmex funding bot is only a proof of concept for the moment. As soon as the planned improvements will be done, we will be happy to make you earn more money with limited risk, and to charge for the service!

Do you offer additional tiered discount for large funds?

Is there a referral system?

No, there is no systematic referral system yet.

Technical

Why did I get a message that my Bot Credit is low?

Based on your recent bot utilization, we estimate that you might run out of bot credit within the next few days. This is only an estimation.
This message is sent to you as a reminder to recharge your bot credit. This will avoid your account to be downgraded back to Basic membership and loose the benefits of Premium features.

Why was I downgraded back to Basic?

It seems you earned quite a lot of money out of lending :) and your Bot Credits went negative.
We probably sent you warning and reminder, but unfortunalety you did not recharge your bot credit on time.

No problem: Simply add new bot credits following the instructions in the Top-up box (found on your Cryptolend Dashboard) and you will get again to all the benefits of Premium features.

Why was my APIs deleted?

Sorry for that inconvenience.
In order to ensure best possible security of your accounts and assets, we carry on regular checks on APIs rights and restriction settings.
Would they not be optimum, we delete them so they cannot be used against you.

The best way would now to follow clear step by step instructions from our resources page to ensure a safe correct settings, and smooth operations with Cryptolend.net.

What strategy should I use?

You can find a full description of all strategies in the resources section. Moreover you can check-up this page

Is there a tutorial?

Yes, you can find our Get started and our dashboard tutorials from the links at the bottom of each page, on the resources section.

Why is my bot not lending? Parts of my funds are not lent?

There could be several reason such as:

  • The last Offer rate (light blue line in Intraday chart) is lower than the Minimum rate (dark blue line) set by you or the Adaptive min rate strategy.
  • The Last Offer Rate is lower than your setting for Minimum rate.
  • Your assets to lend are lower than thexchange's minimum amount (Bitfinex 100 USD).
  • The Iceberg strategy is activated and in progress.

In any case, you can always contact us here.

Can I download CSV of my data?

Various CSV are available for download in our report section.
We also issue monthly overview statements that you can access from the same section.

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