To open a Wirex Credit line, you must have an active account in USDT, USDC, NXUSD, or DAI. Additionally, you need to have a positive balance in either your ETH or BTC accounts to be used as collateral.
Here's how to open Wirex Credit:
Go to the "Wirex Credit" tab and click the "Borrow" button.
- Select a credit account from the available options.
- Choose your desired loan-to-value ratio, collateral account, and borrowed amount, then click "Continue".
- Review and accept the Wirex Credit Terms and Conditions, then confirm the credit details and click "Confirm".
- View your loan history in the "Wirex Credit" tab to see a list of all the loans you have taken.
Congratulations! You have now successfully taken out a loan using your crypto holdings as collateral.
On how to close the Wirex credit, please follow this page:
How do I close a Wirex Credit line?