FAQ

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Bitcoin-backed loans

Can I access my collateral once my loan is opened?

You can withdraw your collateral from your loan by either closing your loan early or repaying your loan at maturity. Currently, you cannot make partial collateral withdrawals prior to closing your loan.

How to access your bitcoin collateral:

  • Early loan closure: To close your loan early, visit your Loan Center in the Strike app's Cash tab, select the Payment Tile, then "Close your loan," and follow the on-screen instructions to pay all outstanding amounts.
  • Loan repayment at maturity: On your loan's maturity date, the outstanding principal and interest will be automatically deducted from your selected payment source, which can be changed at any time.

Upon successful loan repayment, your collateral will be returned to your bitcoin balance within 1 business day. Please note that early loan closure is only available after your loan has been open for 60 days due to cash settlement processing times.

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