To change the payment source for your bitcoin-backed loan, visit your Strike app’s Cash tab and follow these steps:
- Tap your LTV Tracker to open your Loan Center
- Tap the Payment tile in the bottom left
- Select the payment source you would like to change
What are the available payment sources?
The available payment source options depend on if you have Monthly Payment or a Payment at Maturity loan.
Monthly interest payments (if applicable):
- Cash balance: Payments are auto-deducted from your Strike cash balance.
- Bitcoin balance: Sufficient bitcoin is auto-sold from your bitcoin balance to cover the payment amount.
- Linked bank account: Payments are auto-charged to your linked bank account, subject to your Strike account and bank account’s deposit limits.
Payment at maturity (for all loan types):
- Cash balance: Payments are auto-deducted from your Strike cash balance.
- Bitcoin collateral: Sufficient bitcoin is auto-sold from your collateral to cover the payment amount.
Learn more about how loan payments work.