With fixed lending:
• KAIA (KAIA)
• Bitcoin (BTC)
• Ethereum (ETH)
• Stellar Lumens (XLM)
• Ripple (XRP)
• Bitcoin Cash (BCH)
• Litecoin (LTC)
Note: Flare (FLR) can only be managed or sent. Transactions with FLR are not supported on the Crypto Asset Lending Service.
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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).
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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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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Interest is rounded to the eighth digit after the decimal point.
Note:
- Interest for KAIA, Stellar Lumens (XLM), and Ripple (XRP) is rounded to the sixth digit.
- Interest is rounded down when it is paid.
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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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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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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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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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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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FAQs
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