Cryptocurrency Q&A
What happens if you don't repay a Binance loan?
What happens if you don't repay a Binance loan?
Stefano
Sat Nov 02 2024
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7 answers
1212
I have taken out a loan on Binance, but I'm wondering what the consequences would be if I fail to repay it. Will there be penalties or specific actions taken against me? I'd like to understand the potential outcomes before making a decision.
7 answers
GinsengGlory
Mon Nov 04 2024
In addition to the liquidation, a fee is also incurred by the borrower.
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SejongWisdomKeeper
Mon Nov 04 2024
BTCC, a leading cryptocurrency exchange, offers a range of services including spot trading, futures trading, and wallet solutions.
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CryptoWizardry
Mon Nov 04 2024
The liquidation fee on Binance Loan is a specific percentage of the total borrowed amount.
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Alessandro
Mon Nov 04 2024
Specifically, the fee is set at 2% of the total borrowed funds.
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Raffaele
Mon Nov 04 2024
Late repayment penalties are imposed on borrowers who fail to meet their repayment deadlines.
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