Quick Repay is the fastest way to close everything you owe in one currency, with a single confirmation. In your Portfolio (Margin Wallet), assets you owe appear with a negative balance and a Repay button next to them.
Steps
- Select Repay on the asset you owe.
- Review the summary: the borrowed amount, the estimated conversion fees, the amount converted from your positions, and any funds released from cancelled limit orders.
- Confirm. Bitso converts assets from your positions as needed and repays everything you owe in that currency.
What to expect
You don't need to size or place any orders: Bitso handles the conversion for you. There's no liquidation fee for repaying on your own, you only pay the conversion fee, and the final amount may include slippage and spreads based on market conditions. To free up the necessary funds, any open limit orders in pairs of that currency are cancelled; orders in other pairs are not affected.
The repayment runs in the background: the confirmation screen means your request was received, and you'll get the final result in the app and by email within a few minutes. The numbers in the summary are estimates; final amounts may vary slightly with the market.
Example: you owe 200.14 USD. You select Repay next to your USD balance. The summary shows: borrowed amount 200.14, estimated conversion fees 2.00, converted from your positions 202.14, total to repay 202.14. You confirm, and a few minutes later you receive confirmation that your USD debt was fully repaid and your positions are closed.