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About the Crypto Asset Lending Service

About the Crypto Asset Lending Service toggle
This service lets you earn interest by lending your crypto assets to LINE BITMAX. Interest is paid in the crypto asset that you lend.
Note: Sales tax is included in interest.

Flexible and fixed lending plans are available. For more details, see the service manuals below. (Only available in Japanese.)

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Lendable crypto asset types toggle
You can lend the following crypto assets to LINE BITMAX.

With flexible lending:
• Bitcoin (BTC)
• Ethereum (ETH)
• Ripple (XRP)
• Bitcoin Cash (BCH)
• Litecoin (LTC)

With fixed lending:
• LINK (LN)
• Bitcoin (BTC)
• Ethereum (ETH)
• Ripple (XRP)
• Bitcoin Cash (BCH)
• Litecoin (LTC)

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Using the Crypto Asset Lending Service toggle
To use the Crypto Asset Lending Service, you need to:
• Open a LINE BITMAX account.
• Agree to the Crypto Asset Lending Service Terms of Use.

If you apply for a fixed lending plan, you need to separately agree to the Crypto Asset Lending Service Terms of Use (Fixed Lending). For details, check the following posts on the LINE BITMAX official blog (only available in Japanese).

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Lendable crypto asset amounts toggle
You can lend crypto assets to LINE BITMAX in the following amounts.

With flexible lending:
• Bitcoin (BTC): 0.01−0.5
• Ethereum (ETH): 1−20
• Ripple (XRP): 1,000−25,000
• Bitcoin Cash (BCH): 1−20
• Litecoin (LTC): 1−50

With fixed lending:
• LINK (LN): 1−150
Note: The maximum lendable amount of LINK per plan is LN 50.
• Bitcoin (BTC): 0.01−0.1
• Ethereum (ETH): 0.1−1
• Ripple (XRP): 100−3,000
• Bitcoin Cash (BCH): 0.1−10
• Litecoin (LTC): 0.1−25

Related Help articles:

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Are there service fees for lending crypto assets or canceling loans? toggle
There are no service fees for lending crypto assets or canceling loans through the Crypto Asset Lending Service.

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About interest toggle
Interest is the compensation you are paid for using the Crypto Asset Lending Service.

Related Help article:

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About interest rates toggle
Interest rates are used to calculate interest on crypto assets that you lend to LINE BITMAX.
Note: Sales tax is included in both interest and interest rates.

With flexible lending:
Interest rates are updated daily and vary depending on market conditions.

With fixed lending:
Interest rates are updated daily. However, the interest rate when you submitted your lending application apply throughout the lending period.

While all interest rates are displayed as annual rates, the real interest rate is calculated on a daily basis (real interest rate = interest rate/365).

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Checking interest rates toggle
You can check interest rates by going to the LINE BITMAX main menu and tapping Lending > Lending at the top of the screen. The calculated annual interest rate is displayed next to each crypto asset.

Interest rates vary for flexible and fixed lending plans. For more information, see this Help article.

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How interest is rounded toggle
Interest is rounded to the eighth digit after the decimal point.
Note:
- Interest for LINK (LN) and Ripple (XRP) is rounded to the sixth digit.
- Interest is rounded down when it is paid.

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Checking your accrued interest toggle
You can check your accrued interest by going to the LINE BITMAX main menu and tap Lending > Loan details.

To check the details (e.g. interest, interest history) for a specific crypto asset: 
1. On the LINE BITMAX main menu, tap Lending > Loan details.
2. Tap the crypto asset you want to check.
Note:
- Your interest appears at the top of the screen.
- To check your history of earned interest, tap Interest history.

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Taxes on interest toggle
Sales tax is included in interest. The interest you receive is also subject to general taxation.

For example, if you lend 1 BTC for 30 days with a 30-day fixed lending plan (annual interest rate: 3%), you can receive roughly 0.002465 BTC as interest. If the market price of 1 BTC is JPY 1,000,000 when you receive your interest, then 0.002465 BTC will amount to JPY 2,465, which is subject to taxation.

For information on the treatment of taxes on the interest you receive and other details, please visit your nearest tax office or consult with a tax accountant.

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I can't apply to lend crypto assets toggle
If you can't apply to lend crypto assets, check the amount that you're trying to lend. Each crypto asset has a set maximum and minimum amount that can be lent. For details about lendable crypto asset amounts, see this Help article.

Also, there is a set maximum borrowing limit for the entire company as a risk management policy. If the company reaches its maximum borrowing limit, we may stop accepting loans without notice.

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Canceling loan applications toggle
You can cancel a loan application during the daily application period (9:00:00 am - 8:59:59 am the following day).
Note: Return applications can be canceled before applications are accepted at 9:00:00 am.

To cancel a loan application:
1. On the LINE BITMAX main menu, tap Lending > Loan details.
2. Tap History > Cancel by the crypto asset loan application you want to cancel.
3. Check the confirmation screen that appears and tap Yes.

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Lending start time after applying to lend crypto assets toggle
Applications are accepted daily at 9:00:00 am, and lending starts at 12:00:00 pm. You can cancel applications up until 8:59 am (before applications are accepted).

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Can I sell crypto assets that I'm also applying to lend? toggle
You cannot sell crypto assets while applying to lend them. If you want to sell crypto assets, please cancel your loan application first.

Related Help articles:

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Checking the amount of crypto assets you've lent toggle
To check the crypto assets you've lent, go to the LINE BITMAX main menu and tap Lending > Loan details.

If you want to confirm details such as your history for separate crypto assets, follow the steps below.

1. On the LINE BITMAX main menu, tap Lending > Loan details.
2. Tap History by the crypto asset you want to check.
3. You can see the amount of crypto assets you're lending under Amount lent.
Note: Check your history by tapping Loan history.

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Are lent crypto assets eligible for segregated management? toggle
The Crypto Asset Lending Service is not a "crypto-assets exchange service" under the Payment Services Act. For this reason, the crypto assets we borrow from users through the service are not eligible for segregated management.

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Canceling loans toggle
With flexible lending:
You can cancel a loan by choosing a crypto asset that you're lending and applying for the amount you want to have returned. 

The application period for returns is until 8:59:59 am each day. Applications are accepted at 9:00:00 am, and lending is stopped at 11:59:59 am.

To cancel a loan:
1. On the LINE BITMAX main menu, tap Lending > Loan details > History.
2. Tap Returns.
3. Enter the amount you want to have returned and tap Apply.
4. Check the return amount on the confirmation screen that appears and tap OK.

With fixed lending:
You cannot cancel a loan during the lending period. Your loan will end after the lending period has ended.

Related Help articles:

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Timing of crypto asset returns toggle
Returns and interest payments will be processed on the day that lending ends, or within seven days at the latest.
Note: Sales tax is included in interest.

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Are there cases where crypto assets are not returned? toggle
Within the service, the agreement concluded between us and users is an unsecured "loan agreement." Accordingly, in the event that we file for bankruptcy, there is a risk that the crypto assets lent to us by users will not be returned.

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