Lendasat DocsBorrowingBorrower Tutorials
Borrow Fiat
Step-by-step guide to borrowing fiat currency against your Bitcoin on Lendasat.
Borrowing Fiat Currency
Receive your loan directly to your bank account in EUR, USD, GBP, or other available currencies.
Find a Loan Offer
Go to "Find Offer" and select:
| Field | What to Choose |
|---|---|
| Amount | How much you want to borrow |
| Duration | Your preferred loan term |
| Type | Fiat (EUR, USD, GBP, etc.) |
Browse offers and click one that suits your needs.
Enter Addresses & Bank Details
You need to provide 2 pieces of information:
| Information | Purpose | Important |
|---|---|---|
| Collateral Refund Address | Where BTC returns after repayment | Use unused address for privacy |
| Bank Account Details | Where you receive fiat loan | Must be in your name |
Ensure your bank account supports international transfers if the lender is abroad.
Confirm and Submit
- Double-check addresses and bank details
- Click "Pick Offer"
- Lender has 24 hours to approve
Fund the Contract
Once approved:
| Action | Details |
|---|---|
| Send BTC | To the 2-of-3 multisig address shown |
| Amount | Exact required amount or more (overcollateralize) |
| Status | Funds locked until repayment or liquidation |
Receive Your Loan
Once BTC is confirmed on-chain:
- Lender transfers fiat to your bank account
- Transfer includes a reference number (appears on your statement)
- Funds are yours to use immediately
Repaying Your Loan
Start Repayment
Go to your active contract → Click "Manage Loan"
You'll see:
- Lender's bank account details
- Full repayment amount (principal + interest)
Send Bank Transfer
| What to Send | Details |
|---|---|
| Amount | Full amount (principal + interest) |
| To | Lender's bank account shown |
| Proof | Submit bank transfer reference or receipt |
Get Your Collateral Back
Once lender verifies and approves → BTC automatically sent to your Collateral Refund Address.