My loan is ending. What happens next?

You can pay off the loan or request a new term. There are no fees for paying off the loan early. When the loan is paid in full, designate an address for the return of your bitcoin.

To pay off your loan with a wire transfer:


Early payoff

  1. Sign in to your Unchained account.
  2. Navigate to the Loans page and select your loan.
  3. Click SHOW MORE in the upper-left tile and then click Loan Close.
  4. Select Settle payoff amount and the date on which you will send the payment.
  5. Send the payoff amount via wire transfer from your bank using the instructions provided.

Final payment payoff

  1. Sign in to your Unchained account.
  2. Navigate to the Loans page and select your loan.
  3. View the Payments table to see the final payment amount and due date. 
  4. Send your payment on the due date to the wire instructions listed on your account after clicking the View payment instructions button. Please include your loan ID in the memo field of the wire transfer for timely processing.
  5. When the payment is received, the loan will be paid in full and we’ll send an email confirmation to you.

To close your loan using collateral:


  1. Sign in to your account and navigate to your loan.
  2. Click Collateral actions, then Surrender collateral to close loan.
  3. Select the Surrender collateral checkbox, select today's date, and review your redemption address.
  4. Click Next and the authorization that indicates the terms and conditions of the request.
  5. If you have read the authorization and agree to the terms and conditions, click the two checkboxes and click Submit.

Note: if you do not have two-factor authentication enabled on your account, we will not proceed until we make contact with you by phone to confirm the request.

Once the authorization is received by us, we will take possession of and sell the collateral at our trading desk and apply the proceeds to your loan, less selling fees to Unchained Trading, LLC. Requests are processed and executed on a best efforts basis upon receipt of the authorization at the prevailing market price. Trading desk operating hours are Monday through Friday, 8AM to 4PM Central Time. Requests received outside this time frame will be reviewed during normal operating hours.

To request a new loan term (refinance):

Note: As of January 1, 2024, Unchained does not originate consumer loans and will only originate loans to entities (such as LLCs and corporations) with stated business/investment purposes.

  1. Log in to your Unchained account and click Loans, then New
  2. Complete the loan application and select Refinance existing Unchained loan [loan account ID] as the loan purpose from the drop-down.
  3. If approved, you'll receive an email notifying you to review the loan contract. Log in to your account and click Loans.
  4. Select your pending loan application from the list and click View contract.
  5. If the terms are agreeable, sign the contract in the required areas and click Finish.

The approval of a new loan is not guaranteed and is subject to our review and approval.

If approved, you'll receive an email when the new loan contract is ready for signature in your account. You will receive emails instructing you to deposit collateral to the new loan collateral address—this is not necessary unless there is a collateral shortfall. The new loan will be structured to pay off the current loan and we will assist with moving collateral from the current loan to the new loan. If applicable, you'll be prompted via email to sign with your key.

What happens after my loan is paid in full?

We will begin the process of returning your bitcoin to the redemption address on file. The fastest way to get your bitcoin back is with an Unchained Vault. 

How to designate your redemption address:

  1. Sign in to your Unchained account.
  2. Click Loans from the nav bar then select your loan from the list.
  3. Designate the redemption address by clicking Change redemption address in the upper left tile. If you would like to redeem collateral to a vault or other loan, you can enter its deposit address as the redemption address.