Cryptocurrency Q&A
What happens if you don't pay back a crypto loan?
What happens if you don't pay back a crypto loan?
Federica
Fri Nov 29 2024
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5 answers
693
I have taken out a crypto loan and am wondering about the possible consequences if I fail to repay it. What are the potential outcomes if I default on this loan?
5 answers
SumoPower
Sun Dec 01 2024
This liquidation process serves as a means for the platform to recover the loan amount, along with any accrued interest.
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Maria
Sun Dec 01 2024
The liquidation of your holdings will be considered a disposal of assets for tax purposes.
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CryptoConqueror
Sun Dec 01 2024
As a result, you may be subject to capital gains tax on the proceeds from the liquidation.
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Davide
Sun Dec 01 2024
In case of non-repayment of a loan, the lending platform has the right to take certain actions against the borrower.
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Gianluca
Sun Dec 01 2024
If you fail to repay the loan within the agreed-upon timeframe, the platform may opt to liquidate your holdings.
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