Block Earner FAQs | Frequently Asked Questions

General

Block Earner is an Australia-based FinTech powered by blockchain technology. We offer Crypto-Backed Loans, Crypto Exchange (Buy & Sell over 350 coins), Cash Account, SMSF, OTC and more.

We are registered with AUSTRAC as a digital currency exchange provider and operate under an authorised representative arrangement of an Australian Credit Licence holder. Block Earner is also a member of Digital Economy Council Australia (DECA) and Fintech Australia.

To create your Block Earner Account follow these easy steps:

First, decide on your account type: Personal, Business or SMSF
Verify your email, phone number & ID. This should only take a few minutes.
Deposit AUD or crypto from another exchange/wallet
Explore all our product features to see what’s right for you

Click here to get started

KYC (Know Your Customer) is a mandatory identity verification process required by financial regulations. You need to complete KYC to help protect against fraud, money laundering, and other financial crimes. Verifying your identity also helps ensure that only verified individuals can access Block Earner, and supports industry standards for fraud and AML risk mitigation. By following KYC requirements, businesses and financial institutions comply with the law and create a safer environment for everyone.

Personal

Australian Passport, or: Drivers Licence

Private Company

Company Extract from ASIC (up to 2 months old). We require Company Extracts of any parent company or any company that owns more than 20% shares. Bank Statement (up to 2 months old) showing business name, business address, and bank account details.

Sole Trader

Bank Statement (up to 2 months old) showing business name, business address, and bank account details. A copy of your Australian passport or a drivers licence (back and front page)

SMSF

Trust Deed (certified over the past 12 months). If Trustee is a company, Company Extract from ASIC (up to 2 months old). We require Company Extracts of any parent company or any company that owns more than 20% shares. Bank Statement (up to 2 months old) showing business name, business address, and bank account details.

Trust

Trust Deed (certified over the past 12 months). If Trustee is a company, Company Extract from ASIC (up to 2 months old). We require Company Extracts of any parent company or any company that owns more than 20% shares. Bank Statement (up to 2 months old) showing business name, business address, and bank account details

There is a minimum deposit/withdrawal amount of $1 to and from your Block Earner Cash account.

Depositing AUD into your Block Earner account can take up to 24 hrs for your first transaction. Please also note: Some banks have longer delays, you can read our blog of crypto-friendly banks here.

If you experience delays from your bank, we recommend calling your bank to lift any deposit blocks or delays.

Crypto Buy/Sell

Once you have registered with Block Earner successfully, you can now trade over 350 crypto coins with Block Earner. Follow these steps:

Go to ‘Cash’ screen, select ‘Deposit’ and follow the prompts to deposit the amount of AUD you require (please note: some banks have 24 hr delays)
Once AUD is deposited into your account, go to ‘Buy/Sell’ screen and use the search bar to find the crypto you would like to buy
Select ‘Buy’ and enter either the amount in AUD or the relevant crypto (you can note our Spot rate in blue)
Select ‘Buy Preview’, review and click ‘Confirm’
You will receive a notification once the trade has been successful.

Get started now.

Go to Crypto Buy/Sell screen and select ‘Deposit’
Select the Coin (ensure it is a coin we support here) you would like to deposit and the relevant Network (Make sure you select the correct Network to ensure your crypto is successfully deposited).
A deposit address and QR code will be generated
- Copy the deposit address into the account you’re transferring from, or;
- In the account you’re transferring from, use your camera to scan the QR code and follow the prompts
We will notify you when the deposit is detected by our system; processing times may vary depending on network conditions

Get started now.

We offer over 350 coins, with new coins added monthly. You can view our current crypto selection here.

If you would like us to add a specific crypto coin to our exchange, get in touch here.

Our fees are set transparently and published on our website.

Get started now.

You can start with as little as $1 AUD.

Get started now.

To withdraw crypto to another crypto exchange or crypto wallet, follow these steps:

Navigate to the Crypto Buy/Sell section and choose Withdraw Crypto Tab
Select the token you want to withdraw and the token’s network
Enter the wallet address you are sending your crypto to
Add a withdrawal amount
Scammers may attempt to misuse crypto withdrawals: learn how to spot and avoid these scams in our latest blog: Spotting and Avoiding Cryptocurrency Scams

NOTE: Make sure all the details are correct. Withdrawals cannot be reversed. We do not support withdrawals to smart contract wallets.

Get started now.

The correct network will depend on the type of cryptocurrency that you are withdrawing. Not all tokens are compatible with all networks. Typically, if the network is available to select, your token is supported on that network but you will need to ensure your wallet address is in the right format.

If you are unsure about the network you need to choose, please contact our support team.

Get started now.

We may not be able to verify whether the chosen network is compatible with the token you have sent. Some wallet addresses are easy to identify as being incompatible but many are not. Once a transaction is initiated and the funds leave our platform, we are unable to reverse it. Transactions that leave our platform are irreversible so always double-check when making a crypto withdrawal.

To deposit & withdraw cash on Block Earner, follow these steps:

Go to 'Cash Screen'
Click either Deposit/Withdraw
Choose either Bank Transfer or PayID
Enter in the amount and follow the prompts.

Some banks may delay or block AUD deposits. Check out our Crypto-Friendly Banks blog post for more info.

Unfortunately some banks in Australia do not currently support deposits to crypto platforms.

If your bank blocks the transaction or reports an incorrect BSB, you can:

Try making the payment using a debit card instead of a credit card, as these are less likely to be blocked by your bank.
Call your bank and ask them to lift the block for crypto-related deposits.
Review our guide on crypto-friendly Australian banks to find alternatives:Australia’s Most Crypto-Friendly Banks in 2025

Crypto-Backed Loans

A Crypto-Backed Loan is a type of secured loan where cryptocurrency assets are used as security to borrow fiat currency. This allows our community of crypto holders to access liquidity without selling their digital assets.

Our Crypto-Backed Loans are credit products issued under an authorised representative arrangement, where approved borrowers use eligible crypto assets as security.

Block Earner accepts BTC, ETH, WBTC & XRP as security for our Crypto-Backed Loans.

LVR is expressed as a percentage that compares the amount you are borrowing to the lender-assessed value of the asset.

For example: Block Earner gives an individual customer up to 40% LVR on a Line of Credit loan. If you had $100k worth of BTC as security, using our maximum LVR of 40% would give you a $40,000 AUD loan.

Current Block Earner LVR offerings include:

Crypto Security (BTC, ETH, WBTC): Line of Credit @ 40%, Fixed Term @ 50%

No, your crypto security cannot be accessed, however you can pay down the loan using the security.

If the price of your BTC goes down, your LVR will go up. Please see the different LVR health stages of our loans below:

BTC, ETH & WBTC

40-50%: Healthy

50-54.9%: Attention

55%-59.9%: Repayment notice

>60%: Default risk (30 days to manage)

Stable Coins

80-85%: Healthy

85-89%: Attention

90-94.9%: Repayment notice

>95%: Default risk (30 days to manage)

To chat through these different stages, please book a call here.

Please note: For customers on a bespoke contract with Block Earner, the above may not apply.

Your Crypto-Backed Loan application and repayment behaviour may be reported to credit reporting bodies, and this information can influence your credit score positively or negatively, depending on each bureau’s assessment criteria.

Some credit reporting bodies treat secured loan enquiries differently from unsecured credit; they may view secured credit more favourably, and it may improve your credit score. However, multiple credit enquiries to different lenders within a short period may have a negative impact on your score.

To understand how credit scores are calculated, you can refer to publicly available guidance from major Australian credit reporting bodies:

Equifax:

Experian:

Block Earner does not provide credit score advice, and the impact on your score will depend on the policies of each credit reporting body.

Line of Credit: no monthly repayments are required. Loan repayments can be made at any time, and are due at the end of your 12 month loan term.

Fixed Term: compulsory monthly repayments need to be made each month.

Our Line of Credit loan term is 12 months.

Our Fixed Term loan term is 3-5 years.

You have the option to close the loan at any time. If you would like to discuss this, please book a call here.

Typical crypto-backed loan amounts range from $50 to $5M, subject to eligibility, assessment, and approval.

Use our crypto loans calculator to see how much AUD you could borrow against Bitcoin, Ethereumor other eligible crypto as security.

Go to Crypto Loan Calculator →

If you would like to discuss your options, please book a call here.

For our Line of Credit option, a 2% origination fee and 9.5% interest applies.

For Fixed Term loan option, a 2% origination fee and 11.5% interest applies.

Please note: Rates are subject to change, please refer to your loan agreement for accurate & up-to-date rates. Please also note, if you choose to redraw on your loan, a 2% origination fee will be charged.

Interest is calculated daily, compounded monthly.

You can close your loan at any time. To close a loan you will need to repay the principal, interest and fees with AUD or your crypto security. To close a loan:

Go into the app and click ‘Loans’
Click on ‘Manage Loan’
Select ‘Close Loan’
Choose to make your final repayment in your crypto or AUD
Close Loan

Please note: You need to ensure you click ‘Close Loan’. If you make your full repayment and do not do this, you will not have closed your loan facility. If this occurs, we reserve the right to close your loan facility after 30 days of your loan repayment.

If your Loan-Value-Ratio (LVR) loan goes down (meaning the value of your crypto security goes up), yes you can redraw on your loan.

For example, say the value of your BTC security goes up, and as a result your LVR goes down to 32%, you can redraw up to another 8% of AUD.

To redraw in the app, follow these steps:

Go to the Loans screen
Click on your active loan, followed by the ‘Borrow’ button
You will see a toggle at the top, letting you know what the maximum amount you can redraw is. You can either use the toggle or enter the amount you would like to redraw
Click ‘Borrow’ and follow the prompts.

Yes, for a Line of Credit loan, you can add more crypto security into your loan facility to lower your LVR, and access more AUD. Please follow these steps:

Ensure you have your desired amount of crypto security in your Block Earner Buy/Sell account:

If you need to deposit more security into your Block Earner Buy/Sell account, follow these steps.

Top up the crypto security into your loan

Go to the Loans screen and click ‘Manage Loan’
Click the option ‘Top up security’
Add in your desired amount of crypto security to your loan and hit ‘Top Up’. Please note: to process this amount may take up to 24 hrs.

Apply for the redraw

Once your crypto security has been approved, your LVR will go down.
Click on your active loan, followed by the ‘Borrow’ button
You will see a toggle at the top, letting you know what the maximum amount you can redraw is. You can either use the toggle or enter the amount you would like to redraw
Click ‘Borrow’ and follow the prompts. Please note: redraw applications may take up to 24 hrs.

For a Line of Credit loan, you will have the option after your first 12 month loan term to rollover your loan. You will need to pay the interest + fee to rollover your principle into a new 12 month facility.

You will be sent a notification about your rollover, 30 days prior to the end of your loan term with details on how to manage this.

Please note: Rolling over your loan means you will be signing a new loan agreement, in which case a new interest rate and fee may apply. We reserve the right to terminate our loan rollover offer at any time. Loan Rollovers are subject to approval

Loan Rollovers are not available for Fixed Term Loans

Go to the Loans Screen
Click ‘Manage your loan’ and then ‘Manage Loan’
Hit ‘Repay Loan’ and add in the repayment amount in either crypto or AUD.

If repaying in AUD: Ensure there is enough AUD in your Cash Account to make the repayment.

If repaying in Crypto: Ensure that the repayments for crypto-backed loan are made using the same crypto currency outlined in the loan agreement. For example, if your crypto-backed loan is in BTC, your crypto repayments can only be in BTC.

Yes it will mean you pay less interest. Interest is calculated daily, compounded monthly on the principal amount. If you make voluntary repayments on the principal, you pay less interest overall.

See ‘How to make a loan repayment’ for more information.

OTC

OTC (Over-The-Counter) trading allows you to execute large cryptocurrency transactions privately, avoiding public exchanges and reducing market impact.

Our OTC desk operates from 8 AM to 10 PM, 7 days a week. We’re available during these hours for any assistance.

Our OTC desk is open to individuals, businesses, and institutions trading a minimum of 100,000 AUD. To get started, you must have a fully KYC-verified Block Earner account. You can contact us via reaching out to support@blockearner.com.au. Please include your mobile number in your email to ensure we can call you if we require information.

The minimum trade size is $100,000 AUD.

After contacting us with your trade details, we’ll provide a personalised quote. You’ll need to accept it before it expires, and the funds will be settled into your Block Earner account.

There are no separate OTC fees. The quoted amount includes any applicable spread and is the amount that will be settled.

Yes, but we can only lock the rate once your assets are in your Block Earner account (if selling).

You can trade all assets supported on our platform, including fiat to crypto and crypto to fiat. Contact us for specifics.

Once the quote is accepted, the funds will be quickly and securely settled into your Block Earner account. We typically aim to settle OTC same-day.

Affiliate Programs

The Block Earner Affiliate Program allows you to earn commissions by promoting Block Earner and referring new users to sign up and trade crypto exchange products. You earn commissions paid in Bitcoin based on your referrals' trading fees.

Affiliates earn 60% of the net fees collected from their referred customer's crypto exchange purchases for the first 90 days after signup, then 30% for life on those fees thereafter.

You must sign up to Block Earner, pass background verification, share your unique affiliate link, and the referred user must sign up via your link, pass verification, and make a crypto purchase of at least $250 AUD before 31 December 2026.

Yes, you can claim your affiliate commission once your earned amount reaches at least 0.0002 BTC.

Commissions are paid in Bitcoin to your Block Earner account within 7 days of meeting the eligibility criteria and claiming the bonus.

Referral Program

After creating a Block Earner account, you receive a unique referral link. When you refer a friend who has not signed up before, and they sign up using your link and deposit at least $250 AUD, both you and your friend earn a $25 AUD bonus after holding the deposit for 30 days. There is no limit to the number of referrals you can make.

You earn $25 AUD for each referral who meets the eligibility criteria. Your referred friend also receives $25 AUD.

Both you and your referral need to complete photo ID verification, sign up via the referral link, and make a deposit of at least $250 AUD into your Block Earner account. The deposit must be held for at least 30 days to qualify.

There is no limit to how many friends you may refer, subject to any overall program caps applied by Block Earner.

The referral bonuses are paid to your Block Earner account within 7 days after meeting the eligibility criteria.

Safety & Compliance

If you believe you may have been scammed, we strongly advise that you stop all communication with the suspected individual or company immediately and file a police report as soon as possible. Please ensure you report the scam to support@blockearner.com.au so we can follow our own internal security policy & procedures.

No it is not ok, please report this activity to Block Earner on support@blockearner.com.au so we can apply appropriate security restrictions to your account.

Learn how to spot and avoid these scams in our blog: Spotting and Avoiding Cryptocurrency Scams.

Depending on multiple factors, we may take the risk based decision of restricting some account's crypto withdrawal functionality. Depending on the reason for the restriction, you may still be able to withdraw AUD to your linked bank account.

Bitcoin-Backed Loans

A Bitcoin-Backed Loan is a type of secured loan where Bitcoin is used as security to borrow fiat currency. This allows our community of Bitcoin holders to access liquidity without selling their Bitcoin.

Our Bitcoin-Backed Loans are credit products issued under an authorised representative arrangement, where approved borrowers use eligible Bitcoin assets as security.

LVR is expressed as a percentage that compares the amount you are borrowing to the lender-assessed value of the asset.

For example: Block Earner gives an individual customer up to 40% LVR on a Bitcoin Line of Credit loan. If you had $100k worth of BTC as security, using our maximum LVR of 40% would give you a $40,000 AUD loan.

Current Block Earner Bitcoin-Backed Loan LVR offerings include:

Line of Credit @ 40%

Fixed Term @ 50%

No, your Bitcoin security cannot be accessed, however you can pay down the loan using the security.

If the price of your Bitcoin goes down, your LVR will go up. Please see the different LVR health stages of our loans below:

Block Earner Bitcoin-Backed Loans

40-50%: Healthy
50-54.9%: Attention
55%-59.9%: Repayment notice
>50%: Default risk (30 days to manage)

To chat through these different stages, please book a call here.

Please note: For customers on a bespoke contract with Block Earner, the above may not apply.

Your Bitcoin-Backed Loan application and repayment behaviour may be reported to credit reporting bodies, and this information can influence your credit score positively or negatively, depending on each bureau’s assessment criteria.

Some credit reporting bodies treat secured loan enquiries differently from unsecured credit; they may view secured credit more favourably, and it may improve your credit score. However, multiple credit enquiries to different lenders within a short period may have a negative impact on your score.

To understand how credit scores are calculated, you can refer to publicly available guidance from major Australian credit reporting bodies:

Equifax:

https://www.equifax.com.au/personal/help-centre/credit-scores
https://www.equifax.com/personal/education/credit-cards/articles/-/learn/what-is-a-secured-credit-card-do-they-build-credit/

Experian:

https://www.experian.com.au/consumer/faqs/understanding-my-credit-score
https://www.experian.com/blogs/ask-experian/category/credit-cards/secured-credit-cards/

Block Earner does not provide credit score advice, and the impact on your score will depend on the policies of each credit reporting body.

Line of Credit: no monthly repayments are required. Loan repayments can be made at any time, and are due at the end of your 12 month loan term.

Fixed Term: compulsory monthly repayments need to be made each month.

Our Line of Credit loan term is 12 months.

Our Fixed Term loan term is 3-5 years.

You have the option to close the loan at any time. If you would like to discuss this, please book a call here.

Typical loan amounts range from $50 to $50M, subject to eligibility, assessment, and approval.

If you would like to discuss your options, please book a call here.

For our Line of Credit option, a 2% origination fee and 9.5% interest applies.

For Fixed Term loan option, a 2% origination fee and 11.5% interest applies.

Please note: Rates are subject to change, please refer to your loan agreement for accurate & up-to-date rates. Please also note, if you choose to redraw on your loan, a 2% origination fee will be charged.

Interest is calculated daily, compounded monthly.

You can close your loan at any time. To close a loan you will need to repay the principal, interest and fees with AUD or your Bitcoin security. To close a loan:

Go into the app and click ‘Loans’
Click on ‘Manage Loan’
Select ‘Close Loan’
Choose to make your final repayment in your Bitcoin or AUD
Close Loan

Please note: You need to ensure you click ‘Close Loan’. If you make your full repayment and do not do this, you will not have closed your loan facility. If this occurs, we reserve the right to close your loan facility after 30 days of your loan repayment.

If your Loan-Value-Ratio (LVR) loan goes down (meaning the value of your Bitcoin security goes up), yes you can redraw on your loan.

For example, say the value of your BTC security goes up, and as a result your LVR goes down to 32%, you can redraw up to another 8% of AUD.

To redraw in the app, follow these steps:

Go to the Loans screen
Click on your active loan, followed by the ‘Borrow’ button
You will see a toggle at the top, letting you know what the maximum amount you can redraw is. You can either use the toggle or enter the amount you would like to redraw
Click ‘Borrow’ and follow the prompts.

Please note: For our Fixed Term loan, you will need to apply manually for a redraw here, and an additional redraw may impact your monthly repayment amounts. Please always refer to your app for your most up-to-date account numbers.

Yes, for a Line of Credit loan, you can add more Bitcoin security into your loan facility to lower your LVR, and access more AUD. Please follow these steps:

Ensure you have your desired amount of Bitcoin security in your Block Earner Buy/Sell account:

If you need to deposit more security into your Block Earner Buy/Sell account, follow these steps.

Top up the Bitcoin security into your loan

Go to the Loans screen and click ‘Manage Loan’
Click the option ‘Top up security’
Add in your desired amount of Bitcoin security to your loan and hit ‘Top Up’. Please note: to process this amount may take up to 24 hrs.

Apply for the redraw

Once your Bitcoin security has been approved, your LVR will go down.
Click on your active loan, followed by the ‘Borrow’ button
You will see a toggle at the top, letting you know what the maximum amount you can redraw is. You can either use the toggle or enter the amount you would like to redraw
Click ‘Borrow’ and follow the prompts.

Please note: redraw applications may take up to 24 hrs.

For a Line of Credit loan, you will have the option after your first 12 month loan term to rollover your loan. You will need to pay the interest + fee to rollover your principle into a new 12 month facility.

You will be sent a notification about your rollover, 30 days prior to the end of your loan term with details on how to manage this.

Please note: Rolling over your loan means you will be signing a new loan agreement, in which case a new interest rate and fee may apply. We reserve the right to terminate our loan rollover offer at any time. Loan Rollovers are subject to approval

Loan Rollovers are not available for Fixed Term Loans

Go to the Loans Screen
Click ‘Manage your loan’ and then ‘Manage Loan’
Hit ‘Repay Loan’ and add in the repayment amount in either Bitcoin or AUD (if repaying in AUD, ensure there is enough AUD in your Cash Account to make the repayment).

Yes it will mean you pay less interest. Interest is calculated daily, compounded monthly on the principal amount. If you make voluntary repayments on the principal, you pay less interest overall.

See ‘How to make a loan repayment’ for more information.

Ethereum-Backed Loans

An Ethereum-Backed Loan is a type of secured loan where Ethereum is used as security to borrow fiat currency. This allows our community of Ethereum holders to access liquidity without selling their Ethereum.

Our Ethereum-Backed Loans are credit products issued under an authorised representative arrangement, where approved borrowers use eligible Ethereum assets as security.

LVR is expressed as a percentage that compares the amount you are borrowing to the lender-assessed value of the asset.

For example: Block Earner gives an individual customer up to 40% LVR on an Ethereum Line of Credit loan. If you had $100k worth of BTC as security, using our maximum LVR of 40% would give you a $40,000 AUD loan.

Current Block Earner Ethereum-Backed Loan LVR offerings include:

Line of Credit @ 40%

Fixed Term @ 50%

No, your Ethereum security cannot be accessed, however you can pay down the loan using the security.

If the price of your Ethereum goes down, your LVR will go up. Please see the different LVR health stages of our loans below:

Block Earner Ethereum-Backed Loans

40-50%: Healthy
50-54.9%: Attention
55%-59.9%: Repayment notice
>50%: Default risk (30 days to manage)

To chat through these different stages, please book a call here.

Please note: For customers on a bespoke contract with Block Earner, the above may not apply.

Your Ethereum-Backed Loan application and repayment behaviour may be reported to credit reporting bodies, and this information can influence your credit score positively or negatively, depending on each bureau’s assessment criteria.

Some credit reporting bodies treat secured loan enquiries differently from unsecured credit; they may view secured credit more favourably, and it may improve your credit score. However, multiple credit enquiries to different lenders within a short period may have a negative impact on your score.

To understand how credit scores are calculated, you can refer to publicly available guidance from major Australian credit reporting bodies:

Equifax: https://www.equifax.com.au/personal/help-centre/credit-scores https://www.equifax.com/personal/education/credit-cards/articles/-/learn/what-is-a-secured-credit-card-do-they-build-credit/

Experian: https://www.experian.com.au/consumer/faqs/understanding-my-credit-score https://www.experian.com/blogs/ask-experian/category/credit-cards/secured-credit-cards/

Block Earner does not provide credit score advice, and the impact on your score will depend on the policies of each credit reporting body.

Line of Credit: no monthly repayments are required. Loan repayments can be made at any time, and are due at the end of your 12 month loan term.

Fixed Term: compulsory monthly repayments need to be made each month.

Our Line of Credit loan term is 12 months.

Our Fixed Term loan term is 3-5 years.

You have the option to close the loan at any time. If you would like to discuss this, please book a call here.

Typical loan amounts range from $50 to $50M, subject to eligibility, assessment, and approval.

If you would like to discuss your options, please book a call here.

For our Line of Credit option, a 2% origination fee and 9.5% interest applies.

For Fixed Term loan option, a 2% origination fee and 11.5% interest applies.

Please note: Rates are subject to change, please refer to your loan agreement for accurate & up-to-date rates. Please also note, if you choose to redraw on your loan, a 2% origination fee will be charged.

Interest is calculated daily, compounded monthly.

You can close your loan at any time. To close a loan you will need to repay the principal, interest and fees with AUD or your Ethereum security. To close a loan:

Go into the app and click ‘Loans’
Click on ‘Manage Loan’
Select ‘Close Loan’
Choose to make your final repayment in your Ethereum or AUD
Close Loan

Please note: You need to ensure you click ‘Close Loan’. If you make your full repayment and do not do this, you will not have closed your loan facility. If this occurs, we reserve the right to close your loan facility after 30 days of your loan repayment.

If your Loan-Value-Ratio (LVR) loan goes down (meaning the value of your Ethereum security goes up), yes you can redraw on your loan.

For example, say the value of your BTC security goes up, and as a result your LVR goes down to 32%, you can redraw up to another 8% of AUD.

To redraw in the app, follow these steps:
Go to the Loans screen
Click on your active loan, followed by the ‘Borrow’ button
You will see a toggle at the top, letting you know what the maximum amount you can redraw is. You can either use the toggle or enter the amount you would like to redraw
Click ‘Borrow’ and follow the prompts.

Please note: For our Fixed Term loan, you will need to apply manually for a redraw here, and an additional redraw may impact your monthly repayment amounts. Please always refer to your app for your most up-to-date account numbers.

Yes, for a Line of Credit loan, you can add more Ethereum security into your loan facility to lower your LVR, and access more AUD. Please follow these steps:

Ensure you have your desired amount of Ethereum security in your Block Earner Buy/Sell account:

If you need to deposit more security into your Block Earner Buy/Sell account, follow these steps.

Top up the Ethereum security into your loan

Go to the Loans screen and click ‘Manage Loan’
Click the option ‘Top up security’
Add in your desired amount of Ethereum security to your loan and hit ‘Top Up’. Please note: to process this amount may take up to 24 hrs.

Apply for the redraw

Once your Ethereum security has been approved, your LVR will go down.
Click on your active loan, followed by the ‘Borrow’ button
You will see a toggle at the top, letting you know what the maximum amount you can redraw is. You can either use the toggle or - enter the amount you would like to redraw
Click ‘Borrow’ and follow the prompts.

Please note: redraw applications may take up to 24 hrs.

For a Line of Credit loan, you will have the option after your first 12 month loan term to rollover your loan. You will need to pay the interest + fee to rollover your principle into a new 12 month facility.

You will be sent a notification about your rollover, 30 days prior to the end of your loan term with details on how to manage this.

Please note: Rolling over your loan means you will be signing a new loan agreement, in which case a new interest rate and fee may apply. We reserve the right to terminate our loan rollover offer at any time. Loan Rollovers are subject to approval

Loan Rollovers are not available for Fixed Term Loans

Go to the Loans Screen
Click ‘Manage your loan’ and then ‘Manage Loan’
Hit ‘Repay Loan’ and add in the repayment amount in either Ethereum or AUD (if repaying in AUD, ensure there is enough AUD in your Cash Account to make the repayment).

Yes it will mean you pay less interest. Interest is calculated daily, compounded monthly on the principal amount. If you make voluntary repayments on the principal, you pay less interest overall.

See ‘How to make a loan repayment’ for more information.

XRP-Backed Loans

A XRP-Backed Loan is a type of secured loan where XRP is used as security to borrow fiat currency. This allows our community of XRP holders to access liquidity without selling their XRP.

Our XRP-Backed Loans are credit products issued under an authorised representative arrangement, where approved borrowers use eligible XRP assets as security.

LVR is expressed as a percentage that compares the amount you are borrowing to the lender-assessed value of the asset.

For example: Block Earner gives an individual customer up to 40% LVR on a Bitcoin Line of Credit loan. If you had $100k worth of BTC as security, using our maximum LVR of 40% would give you a $40,000 AUD loan.

Current Block Earner XRP-Backed Loan LVR offerings include:

Line of Credit @ 25% LVR

No, your XRP security cannot be accessed, however you can pay down the loan using the security.

If the price of your XRP goes down, your LVR will go up. Please see the different LVR health stages of our loans below:

XRP Security:

25-34.9%: Healthy
35-39.9%: Attention
40%-49.9%: Repayment notice
>50%: Default risk (30 days to manage)

To chat through these different stages, please book a call here.

Please note: For customers on a bespoke contract with Block Earner, the above may not apply.

Your XRP-Backed Loan application and repayment behaviour may be reported to credit reporting bodies, and this information can influence your credit score positively or negatively, depending on each bureau’s assessment criteria.

Some credit reporting bodies treat secured loan enquiries differently from unsecured credit; they may view secured credit more favourably, and it may improve your credit score. However, multiple credit enquiries to different lenders within a short period may have a negative impact on your score.

To understand how credit scores are calculated, you can refer to publicly available guidance from major Australian credit reporting bodies:

Equifax: https://www.equifax.com.au/personal/help-centre/credit-scores https://www.equifax.com/personal/education/credit-cards/articles/-/learn/what-is-a-secured-credit-card-do-they-build-credit/

Experian: https://www.experian.com.au/consumer/faqs/understanding-my-credit-score https://www.experian.com/blogs/ask-experian/category/credit-cards/secured-credit-cards/

Block Earner does not provide credit score advice, and the impact on your score will depend on the policies of each credit reporting body.

XRP-Backed Loan Line of Credit: no monthly repayments are required. Loan repayments can be made at any time, and are due at the end of your 12 month loan term.

Our Line of Credit loan term is 12 months.

You have the option to close the loan at any time. If you would like to discuss this, please book a call here.

Typical loan amounts range from $50 to $50K, subject to eligibility, assessment, and approval.

If you would like to discuss your options, please book a call here.

For our XRP-Backed Loan Line of Credit option, a 2% origination fee and 9.5% interest applies.

Please note: Rates are subject to change, please refer to your loan agreement for accurate & up-to-date rates. Please also note, if you choose to redraw on your loan, a 2% origination fee will be charged.

Interest is calculated daily, compounded monthly.

You can close your loan at any time. To close a loan you will need to repay the principal, interest and fees with AUD or your XRP security. To close a loan:

Go into the app and click ‘Loans’

Click on ‘Manage Loan’
Select ‘Close Loan’
Choose to make your final repayment in your XRP or AUD
Close Loan

Please note: You need to ensure you click ‘Close Loan’. If you make your full repayment and do not do this, you will not have closed your loan facility. If this occurs, we reserve the right to close your loan facility after 30 days of your loan repayment.

If your Loan-Value-Ratio (LVR) loan goes down (meaning the value of your XRP security goes up), yes you can redraw on your loan.

To redraw in the app, follow these steps:

Go to the Loans screen
Click on your active loan, followed by the ‘Borrow’ button
You will see a toggle at the top, letting you know what the maximum amount you can redraw is. You can either use the toggle or enter the amount you would like to redraw
Click ‘Borrow’ and follow the prompts.

Please note: For our Fixed Term loan, you will need to apply manually for a redraw here, and an additional redraw may impact your monthly repayment amounts. Please always refer to your app for your most up-to-date account numbers.

Yes, for a Line of Credit loan, you can add more XRP security into your loan facility to lower your LVR, and access more AUD. Please follow these steps:

Ensure you have your desired amount of XRP security in your Block Earner Buy/Sell account:

If you need to deposit more security into your Block Earner Buy/Sell account, follow these steps.

Top up the XRP security into your loan

Go to the Loans screen and click ‘Manage Loan’
Click the option ‘Top up security’ Add in your desired amount of XRP security to your loan and hit ‘Top Up’. Please note: to process this amount may take up to 24 hrs.

Apply for the redraw

Once your XRP security has been approved, your LVR will go down.
Click on your active loan, followed by the ‘Borrow’ button
You will see a toggle at the top, letting you know what the maximum amount you can redraw is. You can either use the toggle or enter the amount you would like to redraw
Click ‘Borrow’ and follow the prompts.

Please note: redraw applications may take up to 24 hrs.

For a Line of Credit loan, you will have the option after your first 12 month loan term to rollover your loan. You will need to pay the interest + fee to rollover your principle into a new 12 month facility.

You will be sent a notification about your rollover, 30 days prior to the end of your loan term with details on how to manage this.

Please note: Rolling over your loan means you will be signing a new loan agreement, in which case a new interest rate and fee may apply. We reserve the right to terminate our loan rollover offer at any time. Loan Rollovers are subject to approval

Loan Rollovers are not available for Fixed Term Loans

Go to the Loans Screen
Click ‘Manage your loan’ and then ‘Manage Loan’
Hit ‘Repay Loan’ and add in the repayment amount in either XRP or AUD (if repaying in AUD, ensure there is enough AUD in your Cash Account to make the repayment).

Yes it will mean you pay less interest. Interest is calculated daily, compounded monthly on the principal amount. If you make voluntary repayments on the principal, you pay less interest overall.

See ‘How to make a loan repayment’ for more information.

FrequentlyAsked Questions

General

What is Block Earner?

How do I get started with Block Earner?

Why do I need to complete KYC?

What is required to KYC (verify my ID)

What is the minimum deposit/withdrawal to the cash account?

How long does it take to deposit AUD into my account?

Crypto Buy/Sell

How to buy crypto on Block Earner?

How to deposit crypto to Block Earner?

How many tokens are supported?

What are the Crypto Buy/Sell fees?

What is the minimum crypto purchase amount?

How to withdraw crypto from Block Earner to my own wallet?

Withdrawing crypto from Block Earner, which network should I select?

What happens if I choose the wrong network?

How do I make an AUD deposit?

My bank isn’t allowing me to deposit AUD/ My bank is saying the BSB is incorrect

Crypto-Backed Loans

What are Crypto-Backed Loans?

What Cryptocurrencies can be used as security?

What is a Loan-Value-Ratio (LVR), and what is Block Earner’s LVR?

Can I access my crypto while I have a loan?

What happens if the price of my security (e.g. BTC) goes down?

Does this Crypto-Backed Loan affect my credit score?

Do I need to make monthly repayments?

What is the loan term?

How much can I borrow?

What are the fees & interest involved?

How is interest calculated?

What if I want to close my loan?

What happens if my LVR goes down?

Can I add more crypto security to my loan to access more AUD? How do I top up my security?

Can I rollover my loan?

How do I make a voluntary loan repayment

Does a voluntary loan repayment affect the interest amount?

OTC

What is OTC trading?

What are your OTC trading hours?

How do I start an OTC trade, and who can use it?

What is the minimum trade size?

How do I receive a quote?

Are there any fees for OTC trades?

Can I lock in the rate?

What assets can I trade?

How long does it take to settle the trade?

Affiliate Programs

What is the Block Earner Affiliate Program?

How much commission can I earn as an affiliate?

What are the requirements to qualify for the affiliate commission?

Is there a minimum payout threshold for affiliate commissions?

How and when are affiliate commissions paid?

Can I share my affiliate or referral links publicly?

Referral Program

How does the Block Earner referral program work?

How does my referee friend sign up?

How much do I earn for each successful referral?

What are the eligibility requirements for earning referral bonuses?

Is there a limit to how many referral bonuses I can earn?

When and how are referral bonuses paid?

Safety & Compliance

I have been scammed, what do I do?

Is it ok for someone to watch me sign up to Block Earner (online or in-person)?

Is it ok to share my logins with someone?

Why can’t I complete a crypto withdrawal?

Bitcoin-Backed Loans

What are Bitcoin-Backed Loans?

What is a Loan-to-Value Ratio (LVR)?

Can I access my Bitcoin while I have a loan?

What happens if the price of my security (e.g. BTC) goes down?

Does this Bitcoin-Backed Loan affect my credit score?

Do I need to make monthly repayments?

What is the Bitcoin-Backed Loan Term?

How much could I borrow with a Bitcoin-Backed Loan?

What are the fees & interest involved?

How is interest calculated?

What if I want to close my Bitcoin-Backed Loan?

What happens if my Bitcoin-Backed Loan LVR goes down?

Can I add more Bitcoin security to my loan to access more AUD? How do I top up my Bitcoin security?

Frequently
Asked Questions