Borrow BNB with Your NFTs

Use your NFTs as collateral to borrow BNB from other lenders on Bit5. To be eligible, your NFT must meet the following prerequisites:

  • The collection of your NFT you wish to lend must be listed in Bit5 Marketplace.

  • The collection of your NFT should not be removed from Bit5 Marketplace.

  • If your NFT meets these requirements, you can use it as collateral to borrow BNB.

If your NFT meets the prerequisites, you can borrow it using it as collateral.

How does it work?

  1. Advertise your NFT as collateral for lenders by specifying the amount you want to borrow. Alternatively, you can allow lenders to bid without specifying an amount and accept any incoming offers.

  2. Clarify loan interest rates and repayment dates with lenders, then accept the loan offer that suits you best.

  3. Upon accepting the offer, the loan amount will be deposited into your crypto wallet.

  4. Your NFT is locked and secured in the contract as collateral until you repay the loan on time.

  5. Repay the borrowed amount and the interest within the specified maturity, and retrieve your NFT.

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