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Frequently asked questions

What is BlockLoan? How does it work?

BlockLoan is a cryptocurrency loan platform based on blockchain technology. We use smart contract technology to provide users with digital asset loan services without traditional bank accounts. The workflow is as follows:

  1. User completes registration and identity verification
  2. Choose the right loan product and VIP level
  3. Submit loan application and wait for review
  4. After approval, the loan amount will be directly transferred to your designated cryptocurrency wallet
  5. Repay according to the agreed term and interest rate
What are the requirements for applying for a loan?

The basic conditions for applying for a BlockLoan loan include：

  • Aged 18 or above
  • Complete the platform’s identity verification (KYC)
  • For unsecured loans, a certain credit score is required
  • For pledge loans, you need to provide qualified digital assets as collateral
  • Agree and comply with the platform's user agreement and loan terms

Specific conditions may vary by loan product and region.

How long does it take for loan approval?

Loan approval time depends on a number of factors:

  • Fast small loan：approval completed within 1 hour
  • Standard credit ：usually approved within 24 hours
  • Large-amount mortgage loans：Risk assessment may take 48 hours

VIP members enjoy priority approval, which can significantly shorten the waiting time. The approval progress can be viewed in real time in your account.

How do I repay? What are the repayment options?

BlockLoan provides a variety of flexible repayment methods:

  1. Lump-sum repayment of：principal and interest : Lump-sum repayment of principal and interest on maturity date
  2. Installment repayment：monthly or weekly installments to repay principal and interest
  3. Automatic renewal ：Applicable to short-term loans, automatically extending the loan period
  4. Early repayment：You can repay early at any time, and some products can reduce interest

Repayments can be made in cryptocurrencies supported by the platform, and the system will provide a detailed repayment plan and wallet address.

What happens if I cannot repay on time?

If you anticipate difficulty in repayment, we recommend:

  1. Contact customer service immediately to explain your situation
  2. Consider applying for a loan extension or repayment plan adjustment
  3. For collateralized loans, additional margin may be required

Late repayment will result in the following consequences:

  • Accrual of overdue penalty interest
  • Negative impact on your credit score
  • Possible liquidation of collateral assets for severe delinquency
  • Potential restrictions on future loan eligibility

We advise carefully assessing repayment capacity before applying for loans.