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.
Users who have access to this feature can use it for both Limit and Market order trades.
For Instant trades, you can use your credit line to sell more USDT than you have in your account.
For Orderbook trades, you can use your credit line to buy and sell USDT of more value than you have in your NGNT or USDT main account.
Here's what 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 9 hours to pay back your USDT or NGNT credit. Please note that you will be charged a penalty whether or not your order gets filled.
- To pay back your NGNT credit, you need to deposit Naira to your NGNT account and to pay back your USDT credit, you need to send in USDT.
- You cannot send out USDT or withdraw Naira until you have paid your USDT or NGNT credit.
- You are not allowed to owe the debt for longer than 9 hours.
- After the payment deadline, if you have not sent in 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 8 hours have elapsed.
- If you send in your USDT within 8 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.
- Your account will be restricted with no penalty after 3 hours.
We automatically increase your credit line with increased trading activity and reduce your credit line the less you trade.