Borrowing and Buying/Selling Bitcoin on Binance with Bitcoin (BTC) as Collateral | Scribe

    Borrowing and Buying/Selling Bitcoin on Binance with Bitcoin (BTC) as Collateral

    • Matthieu Chauveau |
    • 28 steps |
    • 3 minutes
    1
    Go to [binance.com](https://accounts.binance.com/register?ref=VDI3F3RI)
    information ordinal icon
    Don't have a Binance account?\ \ [Create one now for free](https://accounts.binance.com/register?ref=VDI3F3RI).

    Borrowing USDT with Bitcoin (BTC)

    2
    Click "More"
    3
    Click "Loans"
    4
    Click "Borrow" on USDT
    information ordinal icon
    What about the interest rate? I usually don't pay attention to them. Because I target to make more than 10% profit over a few days or a few weeks, so the cost of the interest doesn't matter much.
    5
    Click here and select Bitcoin (BTC) as the collateral.
    6
    Click on BItcoin.
    7
    Add the amount you want to put as collateral, or the amount you want to borrow.\ \ šŸ›‘ NEVER click on "MAX" in the collateral field.\ \ You don't want to use all your Bitcoin (BTC) as collateral, because you want to keep some on the side to add as collateral if the price continues to go down.
    alert ordinal icon
    NEVER use more than half of your Bitcoin (BTC) on the exchange as [collateral](https://mojofi.com/crypto-terms/collateral).
    8
    For this example, I will borrow "500" USDT.\ \ Put whatever amount you want to borrow.
    9
    Click "Start Borrowing"
    10
    Click "OK"
    information ordinal icon
    Now you have a loan, with Bitcoin (BTC) as collateral you used to borrow USDT. Next we're going to buy more Bitcoin (BTC) with that extra USDT you just got.

    Buying Bitcoin (BTC)

    11
    Click "Trade"
    12
    Click "Spot" and go to the BTC/USDT pair.
    13
    Click "Market"
    14
    Go down to the progress bar, and select how much Bitcoin (BTC) you want to buy. Usually I buy as much Bitcoin (BTC) as I can with the amount of USDT I borrowed.