1. Lending utilizes the main account funds thus there is no need for fund transfer. Lenders are required to agree to “the Bibox Lending Agreement”.
A certain amount of service charge is required for the lending, and the current rate is 15% of the interest on your lending.
You can check where the arrowhead points at for details about your lending.
* Available: Funds available for lending
* Lent: Funds already used for lending
* Frozen: Assets temporarily frozen by the system
* Uncollected interest: Uncollected interest on lending
If the “Fund restream continue to lend” Switch is turned on, the repayment of your lending will be automatically used for future lending at the interest rates that you set at the first time of lending, and at the same time the interests on the lending will be put into your main account. If you do not want it to be used for future lending, just switch it off, and the repayment of the lending and the interests will be returned to your main account and will not be sent to the market for lending.
Insurance: Lenders may choose to buy insurance. If the lender has bought insurance, and the borrower fails to be forced into liquidation (very unlikely), the investor protection fund will make up for the loss of the lender until the fund runs out; if the lender has not purchased insurance, the losses shall be borne by him/herself. The investor protection fund is supported by 10% of the interest earned by the buyers.
2. Select the "daily lending rate".
Bibox currently provides lenders with 5 daily rates. Bibox reserves the right to adjust the rates any time according to market conditions.
3. Fill in the “lending amount“
You can set the amount of funds for lending in the input box according to your own preference.
4. Click the "lend" button to submit your lending application.
After confirming that the "daily rate" and "lending amount" are set, you can click on the "lend” button to submit your lending application to the system and wait for a matching transaction.
You can click on "Unsettled Orders", “Pending Payment” and "History" for details about your lending.