F.A.Q
Step 1: Choose Your Package
Select the pawn package that suits your needs:
- Package A: 1-month loan with 7% interest.
- Package B: 3-month loan with 10% interest.
We accept Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Ripple (XRP), and Binance Coin (BNB) as collateral.
Step 2: Submit Your Request
Fill out our simple online application form. Provide the amount you want to borrow and the type of cryptocurrency you plan to use as collateral.
Step 3: Get Your Loan Offer
Weโll evaluate the current market value of your cryptocurrency and offer a loan amount of up to 50% of its value based on the selected package. Review and accept the loan terms.
Step 4: Transfer Your Crypto
Transfer your cryptocurrency to our secure escrow wallet. This ensures your assets are safely held while you use the loan.
Step 5: Receive Your Cash
Once the transfer is confirmed, weโll send the loan amount directly to your bank account or preferred payment method.
Step 6: Repay and Reclaim
Repay the loan within the agreed timeframe to reclaim your cryptocurrency. If the loan is not repaid, the crypto will be used to settle the balance.
Market Price Monitoring
If the market price of your cryptocurrency drops 10% below the pawn price, we will sell the coin to recover the loan amount. This ensures a transparent process for all parties.
Your valuables will be assessed by a trained Valuer. Then, a pawn amount will be given in cash based on current market rates. Once the pawn amount is agreed upon, our Data Operator will record your information, and a pawn ticket will be issued. Pawn tickets are used for future transactions with our pawn shops (E.g โ paying interest, redeeming pawned valuable, etc).
All individuals aged 18 years (after D.O.B) and above with a valid I/C or Passport.
There is a transaction gas fee for each pawn usdt transferered.ย Besides that, no other hidden costs or extra charges.
1 months / 3months from the pawn date or after being issued a new ticket renewal.ย
At CryptoCoinPawn, we strive to provide clear and fair policies to ensure a smooth transaction process for all customers. Please read the following terms carefully regarding loan repayment and default:
1. Loan Repayment Deadline
- Customers must repay their loan, including the agreed-upon interest, within the specified loan term:
- Package A: 1 Month
- Package B: 3 Months
2. Default on Loan Repayment
- If the loan and interest are not repaid in full by the due date, the pledged cryptocurrency collateral will be used to settle the outstanding loan amount.
- No further grace period or extensions will be provided unless expressly agreed upon in writing prior to the loan’s maturity date.
3. Market Price Monitoring
- In the event the market value of the pledged cryptocurrency drops below pawn value + interest ( 7% / 10%), CryptoCoinPawn reserves the right to sell the cryptocurrency immediately to recover the loan amount and accrued interest.
- Customers will be notified of the sale via their registered email or phone number.
4. No Refund or Reclamation After Sale
- Once the pledged cryptocurrency has been sold to recover the loan amount, the customer forfeits all rights to reclaim the asset or request a refund.
5. Secure Custody of Collateral
- All pledged cryptocurrencies will be securely stored in our escrow wallet for the duration of the loan term.
- In case of default or sale due to price drops, the sale process will be handled transparently and securely.
6. Customer Responsibility
- It is the customer’s responsibility to monitor repayment deadlines and ensure sufficient funds are available for repayment before the loan term ends.
- Customers are encouraged to contact our support team for assistance with repayment or queries regarding their loan.
7. Agreement to Terms
By pawning cryptocurrency with CryptoCoinPawn, the customer agrees to these terms and conditions regarding loan repayment and collateral management.
For any questions or clarification, please contact our customer support team. We are here to assist you every step of the way.
