FAQ

What can I get from Octabis?

We are solely focused on one product: cryptocurrency-backed loan. We have been working hard to make sure this product is the most convenient and suitable offer on the market. We are happy to talk details, please reach out to us

Is Octabis safe? Can I trust Octabis? Are my assets in the safe place?

We are the real company, not some virtual off-the-shelf entity which exists only on paper. You can always come visit us in Riga, Latvia -- one of the European fintech capitals. We work in line with rather strict EU requirements applicable to crypto-business (including those related to anti-money laundering and combating terrorist financing). Our legal framework ensures our full liability towards you as our client. Our IT infrastructure is in accordance with industry standards, the systems are robust in its DNA and fail-safe to eliminate any downtime or denial of services.

What is the price? | How much will it cost me?

The pricing model is plain and simple: you pay 12% annually, which means APR 12%. We therefore consider our offer to be one of the most attractive on the market, not only fair and easy to evaluate.

What is the minimum / maximum amount of loan?

The minimum amount to borrow is 20 EUR, the maximum is 100,000 EUR, with loan-to-value (LTV) ratio 60% -- meaning, we will lend you up to 60% of the current value of your provided assets. The reason is that most of cryptoassets are still highly volatile, that is, they tend to change its value rapidly over short period of time. Larger amounts are negotiated individually and available at agreed special conditions.

What happens, if the BTC price goes down?

Your target LTV ratio is 60%, therefore if the pledge value decrease, LTV ratio goes up. We will notify you about this immediately, via e-mail -- for you to take action (increase the pledge) if deem appropriate and necessary. Please however take into consideration that should the value of pledge continue descending and reaches the critial threshold, our system would automatically realise part of the pledge necessary to descrease the credit line in order to normalise the LTV ratio by bringing it back to 60% of loan-to-value.

What is the repayment term?

Initial repayment term is 1 month, but this is a rolling loan with not fixed period of repayment: you can pay us back in full on the next date, or in one week if you want to -- we will recalculate the actual accrued interest and apply it momentarily when you decide to pay back. In turn, if you decide to not repay the full amount in one month, we will simply roll the loan over for the next month on the last date of your current loan, adding the accrued interest to the principal amount of the loan for your convenience. No new fees, no extra charges, no worries or additional actions needed from you! Same original conditions apply.

How much do you have to know about me?

We will only require the following two pieces of info when you request your first loan from us: your personal data evidenced by a photo identity document, such as passport or national ID card and your residence address and the document that evidence that address. We will treat your information with all due care and diligence, making sure that EU privacy protection regulations (GDPR) are always applied and implemented in our daily operations. It’s a twofold purpose: we must abide by AML regulations and we must ensure that the info we have will allow us to protect your assets from unauthorised access. All other purposes of use of your private details are excluded: we will not sell it nor will we use this data for any marketing purposes. GDPR is a sacred rulebook for us, and we live by it!