Repay

In this step-by-step guide, we will demonstrate how to repay $BTC. The process for repaying assets on any of our supported markets is similar.

1. Connect your Wallet

If you haven't borrowed any assets on Colend yet, follow this guide to borrow any of our supported assets.

2. Select the Debt to Repay

• Choose the Borrowed Asset: Select the asset you want to repay and click on "Repay"

In the 'Debt' column, Check the total amount borrowed per asset. Click on 'Repay' for BTC.

3. Enter Amount

• Specify the Amount to Repay: Enter the amount of $BTC you want to repay. You can choose to repay the full amount or a part of it. Make sure the amount is available in your wallet.

You can choose to repay the full amount or a part of your debt.

Consider Interest Accrual: If you are repaying in full, include a little extra to cover any interest that may accrue while your transaction is pending. This ensures that the exact amount of your debt is repaid once the transaction is processed.

4. Confirm and Execute the Repayment

• Confirm the Transaction: Click the "Repay" button to initiate the repayment transaction. A confirmation window will appear.

Note that the first time you repay a crypto, an approval transaction will be necessary.

Repaying your debt is crucial for maintaining a health ratio higher than 1 and avoiding liquidation. Regularly monitor your loans and repayments to manage your assets effectively.

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