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.
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.
To request a new loan term (rollover/renewal):
- Log in to your Unchained account and click Loans, then New
- Complete the loan application and include the current loan ID in the "purpose" field
- When you receive the email notifying you to review the loan contract, log in to your account and click Loans
- Select your pending loan application from the list and click View contract
- If the terms are agreeable, sign the contract in the required areas and click Finish
To pay off your loan:
Early payoff
- Send an email with your Loan ID and requested payoff date to lending@unchained.com
- We’ll generate a prepayment statement that is available for viewing in your Unchained loan account, complete with wire transfer instructions. You’ll receive an email confirmation once it’s available.
- On the prepayment date, send the wire transfer to Unchained using the instructions and be sure to put your loan ID in the memo field of the wire transfer form.
- When the payment is received, the loan will be paid in full and we’ll send an email confirmation to you.
Final payment payoff
- Sign in to your Unchained account.
- Navigate to the Loans page and select your loan.
- View the Payments table to see the final payment amount and due date.
- 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.
- When the payment is received, the loan will be paid in full and we’ll send an email confirmation to you.
Collateral sale payoff
See our guide to requesting a payment to your loan from bitcoin held as collateral.
What happens after my loan is paid in full?
We will begin the process of returning your bitcoin. The fastest way to get your bitcoin back is with an Unchained Vault. Alternatively, you can set a redemption address as the destination.
How to designate your redemption address
- Log into your Unchained account.
- Navigate to your loan by clicking its name in the dashboard.
- Designate the redemption address by clicking SHOW MORE in the upper left tile, then click Change redemption address.
If you would like to transfer collateral to a vault or other loan, you can enter its deposit address as the redemption address.