💡 Version Note: This article applies to v3.0.0 and later versions.
What is Credit?
Credit is a collateralized loan product from RedotPay that lets you pledge your crypto while you continue to hold it.
When you use Credit, RedotPay locks part of your crypto as collateral and gives you a spending limit based on the value of those assets. Each purchase you make with Credit automatically pledges the required collateral and starts accruing interest on just that used amount.
Key things to know about Credit
Unlock flexible credit while keeping your crypto, so you don’t need to sell your assets to access funds.
Credit can automatically adjust the amount of collateral pledged when your risk level goes up.
Interest is calculated daily, and there is no fixed due date, so you can repay at your own pace.
Credit provided by RedotPay must be repaid according to the terms. Failure to repay may result in additional fees and impact your account usage.
You have to repay your loans. Don't pay any intermediaries.
Money Lender's Licence No: [1550/2024]
Hotline: (852) 2765 4472