SellBack – a new product by Kanga
Hodling favourite cryptocurrency but urgently needing cash?
We’ve got a solution you’ll love! Sell cryptocurrency with the right to repurchase. How does that work? It’s dead simple – you get cash for the cryptocurrency sold and if you change your mind, you can repurchase your crypto at a price fixed in advance.
The service is available in Kanga Exchange Offices and from Locals.
If you’re interested, call us at +48 58 573 36 33 ext. 1 and 2
or e-mail us at kantor@kanga.exchange
Look how Kanga Sellback works!
Check how it works!
I have
Crypto
Check how much to loan!
Choose a cryptocurrency, enter the amount and see how much you can count.
Remember, the conditions are set individually at the point!
See how easy that is? Now take a look how it works!
In order to use the Sellback service
- on your Kanga Exchange account, you must have the cryptocurrency (BTC or ETH) you want to sell. You can find the nearest point where you will conduct the transaction on our interactive map
Go to the selected point and establish with the buyer the terms of the transaction
- Such as the price and repurchase date, as well as the value of the collateral
To finalize the sale transaction in the Sellback tab
- Click on the New Contract button and then Generate Code. Give the generated code to the buyer and then confirm the transaction on your screen.
Pick up cash
Repurchase the cryptocurrencies
- if you want to get your cryptocurrencies back, repurchase them on the basis of predetermined conditions
Visit our blog or see the FAQ to find out more
You can also contact us at +48 58 573 36 33 ext. 1 or 2 and email kantor@kanga.exchange
Glossary of Sellback service terms
- AMOUNT at which the Sale of cryptocurrencies is made;
- REPURCHASE AMOUNT at which the Seller may buy them back;
- COLLATERAL, namely the type of the cryptocurrency it will be charged in (the necessary amount will be automatically calculated by the system);
- NETWORK FEE which will be non-refundable and charged on the conclusion of the Contract exceeding the Collateral
- LIQUIDATION RATE, namely the rate on the Administrator’s Cryptocurrency Exchange at which cryptocurrencies will be automatically sold in accordance with current orders
- CURRENT RATE, namely the current rate on the Administrator’s Cryptocurrency Exchange
- REPURCHASE DATE, namely the date to which the Seller may exercise his right to repurchase.
See example of Sellback transaction
Contract example:
| AMOUNT | 30 000 PLN° |
| REPURCHASE PRICE | 31 500 PLN° |
| COLLATERAL VALUE | 60 000 PLN° |
| LIQUDATION THRESHOLD | 37 800 PLN° |
| CONTRACT TERM | 60 days |
Amount – The price at which the customer sells cryptocurrency.
Repurchase price – The price at which the customer can repurchase the cryptocurrency sold.
Collateral value – Market value of the cryptocurrency sold.
Liqudation threshold – The minimum market value of the collateral, at which it will be automatically resold on the market at the current rate. Once the liquidation threshold is reached, the customer loses the option to repurchase the collateral.
Contract term – The time period after which the collateral will be automatically resold on the market at the current rate. Once the repayment deadline is reached, the customer loses the option to repurchase the collateral.
Conditions of service
Detailed information about Kanga Sellback is available in the terms of service and fee schedule documents.