Question 1

How do I apply for a loan with APX Lending?

Accepted Answer

Unlike traditional loans that consider your credit score, APX Lending offers crypto-backed loans, using your crypto as collateral. You can use the Loan Calculator on our website to estimate the amount of USDC you can borrow against your Bitcoin or Ethereum. To apply for a personal or commercial crypto-backed loan, you need to: 1. Open an account with APX Lending. 2. Apply for a loan by filing out your loan details in the loan calculator and clicking on 'Apply'. 3. Our team will promptly review your loan application, and if approved, you will receive your USDC loan in under 24 hours.

Question 2

What is the interest you charge?

Accepted Answer

APX Lending charges the lowest rate in the industry - 11.99%. There are no hidden fees, no origination fees, no requirements to hold tokens or balance in your account and you can repay your entire loan early should you wish to do so with absolutely no penalty after only 3 months! Don't believe we offer the best rates in the industry? See for yourself below, what some of our competitors charge in our blog.

Question 3

How quickly do I get my funds?

Accepted Answer

The loan application process takes less than 15 minutes and 90% of our clients receive their funds within 24 hours of applying. Your loan is sent directly to your USDC wallet address once your loan is approved and we have received your collateral.

Question 4

Do you reinvest my collateral?

Accepted Answer

Your collateral is never reinvested. It is custodied with a licensed custodian in insured (up to $250M), segregated, multi sig, cold storage wallets and is visible to you on the blockchain for the duration of your loan.

Question 5

What is loan-to-value (LTV)?

Accepted Answer

Loan-to-value or LTV is the percentage of the loan amount in relation to the market value of the cryptocurrency used as collateral. For example: Loan amount: $50,000 USD Crypto collateral value: $100,000 USD LTV (%) = ($50,000/$100,000)*100% = 50% If the value of the collateral drops, for example to $60,000 then the LTV would increase to ($50,000/$60,000)*100% = 83.3% If the value of the collateral increases, for example, to $150,000, then the LTV would decrease to ($50,000/$150,000)*100% = 33.3%

Question 6

What happens if the value of my collateral changes before I repay my loan?

Accepted Answer

If the value of your collateral increases (your LTV decreases): 1. You can leave your collateral as is. 2. You can withdraw a portion of your collateral (as long as the resulting LTV is equal to or lower than your LTV at loan origination). 3. You can sell a portion of your collateral to pay off your interest and/or your loan principle (as long as the resulting LTV is equal to or lower than your LTV at loan origination). If the value of your collateral decreases (your LTV increases): 1. Once your LTV rises to 80% our systems will periodically notify you via email, of the current value of your LTV. You may choose to send us more collateral or pay off a portion of your loan to decrease your loan LTV, or you may choose to do nothing and continue to monitor your LTV. 2. Once your LTV rises to 95%, our system will automatically sell a portion of your collateral to bring your loan LTV down to your your LTV at loan origination. To avoid this scenario, monitor and top up your loan collateral once it reaches 80%.

Question 7

At what LTV do you liquidate my collateral?

Accepted Answer

We liquidate your collateral if your LTV rises to 95%. This extremely high liquidation LTV is designed to give you the absolute maximum flexibility with your loan that is currently available on the market. For example: Loan amount: $50,000 USD Crypto collateral value: $100,000 USD LTV (%) = ($50,000/$100,000)*100% = 50% Your collateral would have to fall from $100,000 to $52,632 before we liquidate it to pay off your loan. ($50,000/$52,631)*100% = 95%

Question 8

Are there limits to how much I can borrow?

Accepted Answer

At APX Lending, you are able to get personal loans from as little as $1,000 USDC and business loans up to $10,000,000 USDC. At the current time we only offer loans in USDC. (https://www.circle.com/en/usdc).

Question 9

What are the eligibility criteria for obtaining a loan?

Accepted Answer

We do not require a credit check or access to your credit history in order to approve your loan. You need to create an account on our platform to apply for a loan. As a regulated entity, we check our loan applicants against local and international sanctions lists. Our team will help you determine if you are qualified if you're not sure.

Question 10

Which countries do you operate in?

Accepted Answer

For a full list of the countries we offer our services in please click here.

Question 11

Where is my collateral stored?

Accepted Answer

Your collateral is stored in a segregated, cold-storage wallet with BitGo, a US-based market leader in regulated custody, and is insured for up to $250M. Your collateral is always visible to you on the blockchain for the duration of your loan (except for instances where collateral liquidation is required) and on your dashboard.

Question 12

What security steps do you take to protect my Bitcoin while it's in your possession?

Accepted Answer

APX Lending works with world-class cyber security experts to keep our systems and your information safe. Our team has extensive experience managing cyber security and blockchain risks. We store your Bitcoin collateral with BitGo, the world leader in qualified custody. Your Bitcoin collateral with BitGo is covered by $250M of insurance. We move your Bitcoin collateral to BitGo using Fireblocks, the world's No. 1 multi-sig provider. Your Bitcoin collateral is covered by $35M of insurance when under Fireblocks control. We undergo periodic penetration testing by military-grade pen testing facilities and are the only SOC 2 audited lender verified by the Canadian Lender's Association. Our SOC 2 audit demonstrates our commitment to data security and provides assurance to our borrowers that we have implemented strong controls to protect your data and ensure the reliability and integrity of our services.

Question 13

Does borrowing against my Bitcoin or Ethereum affect my credit score?

Accepted Answer

No! We do not contact your credit bureau. We do not pull any soft or hard credit checks from your credit bureau. We do not report back to your credit bureau. Your loan is solely backed by your crypto-collateral.

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