If bitcoin-backed lines of credit and loans are available in your region, you'll find the Borrow section in the Cash tab in the Strike app.

To start opening a loan, you need to choose between paying interest monthly or at maturity. In both cases, you only need to repay the borrowed amount at the due date.

For the line of credit, there's no maturity date, so the only option is to pay interest monthly. Besides this first step, the following steps are similar for both:

1. Set loan amount or credit line size: Loan amounts can't be increased, but you can open more loans. The credit line size can be increased, and you can't have more than one active line of credit.
2. Post collateral: You can add more collateral beyond the minimum 50% Loan-to-Value (LTV) ratio. After your loan or line of credit is opened, you can add more collateral anytime or retrieve collateral under certain conditions.
3. Choose payment source: Select how you prefer to pay interest and/or repay principal.
4. Enable notifications to receive important loan updates.
5. Review and sign the agreement: The agreement will be emailed to you and will be available at Account > Documents. Return to the app, sign in, and tap Initiate loan.

You can have up to 5 active 12-month loans. Each loan gets its own Annual Percentage Rate (APR), fixed at the time of opening, and can have different terms. You can open one new loan per day. If you already have 5 open loans and want more, consolidate your loans or contact the support team.

You can have only one line of credit opened. You can increase your credit line at any time.

Learn about the fees and terms for both products.