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.
If you haven't borrowed any assets on Colend yet, follow this guide to borrow any of our supported assets.
Choose the Borrowed Asset: Select the asset you want to repay and click on "Repay"
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.
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.
Confirm the Transaction: Click the "Repay" button to initiate the repayment transaction. A confirmation window will appear.
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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