Credit Line Information, Deadlines & Penalties
Updated
by Shalewa
Credit Line is an exclusive feature and is only available to specific high-volume users on Buycoins Pro.
Users who have access to this feature can use it for both Limit and Market order trades. You can use your credit line to buy and sell BTC or USDT of more value than you have in your BTC, NGNT or USDT balance.
These are the important information you need to know:
- You can buy or sell as long as you have available credit.
- The maximum amount you can buy or sell is called your "Credit Line", and Buycoins determines this.
- You have 12 hours to pay back your BTC, NGNT or USDT credit. Please note that you will be charged a penalty whether your order gets filled or not.
- To pay back your NGNT credit, you need to deposit Naira to your NGNT account and to pay back your BTC or USDT credit, you need to send in BTC or USDT.
- You cannot send out BTC and USDT or withdraw Naira until you have paid your BTC, USDT or NGNT credit.
- You are not allowed to owe the debt for longer than 12 hours.
- After the payment deadline, if you have not sent in BTC or USDT or deposited NGNT to your Buycoins wallet to offset your debt, we will charge a penalty fee of 0.5% of the owed amount.
- The second penalty fee of 0.5% will be charged 3 hours after the first 12 hours have elapsed.
- If you send in your BTC or USDT within 12 hours, but it's delayed by blockchain confirmations, you would not be charged a penalty fee.
- Your credit line will be replenished after you pay back what is owed.
We automatically increase your credit line with increased trading activity and reduce your credit line the less you trade.
