Here are the fees and terms for bitcoin-backed lines of credit and loans on Strike. For interest rates, see the full rate schedule.

Fees

• Origination fee: 0%
• Early repayment fee: 0%
• Late payment fee: 0%
• Liquidation fee: 0%
• Draw fee (line of credit): 0%
• Interest payment fee: Zero fees to pay interest from your cash balance or linked bank account. If you select your bitcoin balance, it will be converted to cash, so trading fees apply.
• Bitcoin collateral repayment fee: If you choose to repay the principal using bitcoin collateral, a 0.79% processing fee applies in US states that allow it.

Terms common to both products

• Interest accrual: Daily
• Maximum initial Loan-to-Value (LTV) ratio: 50% (inclusive of principal and interest)
• LTV thresholds: 65% warning / 70% margin call / 85% partial liquidation
• Margin call recovery window: 72 hours
• Grace period for failed payments: 10 days
• Closure: Available on demand once open for more than 60 days, with no fee

Your bitcoin-backed line of credit or loan is not reported to credit agencies and does not affect your credit score.

Terms specific to fixed-term loans

• Loan term: 12 months
• Loan amount: Minimum varies by state, starting at $10,000 in most states. No maximum (for loans above $5,000,000, contact private@strike.me).
• Interest rate: Fixed Annual Percentage Rate (APR) for the duration of the loan. Rates vary by loan type and amount, and new loan rates may change over time.
• Interest payment options:
  • Payment at Maturity: Principal and interest repaid in a single payment at maturity
  • Monthly Payments: Interest paid monthly, principal repaid at maturity

Terms specific to the line of credit

• Credit line amount: Minimum varies by state (lowest: $3,500). Maximum: $250,000.
• Interest rate: Variable APR, calculated as the U.S. Prime Rate plus a fixed margin. May change at most once per quarter.
• Interest billing cycle: Interest accrues daily on drawn principal. Billed on the 1st of each month, due on the 15th.
• Interest payment plan: Monthly only. No payment-at-maturity option.
• Minimum draw amount: $0.01
• Monthly statements: A statement is generated each billing cycle and available in the Strike app. You are notified by email when your statement is ready and interest is due.

Bitcoin collateral is required for all products. Learn how to apply for a bitcoin-backed loan or line of credit.