Instant Funds

What is Instant Funds?

Instant Funds is a way to access USDT or USDC using your BTC balance or one of your NFT miners. You keep the asset: it's locked, not sold, and you receive stablecoins instantly. Once you repay, your BTC or your miner is returned to you.

When you open a position, you choose how to cover it: Use BTC or Use Miner.

How does it work?

Use BTC

You choose how much USDT or USDC you need.
The app calculates how much BTC needs to be locked.
You confirm the position: your BTC is locked, and USDT or USDC is credited to your balance immediately.
Within 30 days, you repay the amount you received plus the service fee.
Once repaid, your BTC is unlocked and returned to your balance.

Use Miner

You pick an eligible miner to use as collateral.
The app values the miner and shows how much you can get for it.
You choose how much USDT or USDC you need, up to the maximum for that miner.
You confirm the position: the miner is locked, and USDT or USDC is credited to your balance immediately.
Within 30 days, you repay the amount you received plus the service fee.
Once repaid, the miner is unlocked and stays in your wallet.

Which miners can I use as collateral?

You can use a miner if all of the following are true:

It's in your GoMining wallet, not on an external blockchain address.
It's not listed for sale.
If it was bought in installments (MNPL), at least 90 days have passed since your final payment.
Its energy efficiency is 12 W/TH or better.
It isn't already locked as collateral for another position.
Its value is high enough to cover the minimum position amount.

Bonus miners can't be used as collateral. On the Select miner screen, every miner you can't use shows the reason next to it, for example On sale, Low efficiency: >12 W/TH, or Not in your GoMining wallet. Resolve the reason shown, and the miner becomes available to use.

How is my miner's value calculated?

Your miner is valued in USD, based on its power and energy efficiency compared to a base miner of 1 TH and 20 W/TH. The app shows the breakdown:

Base miner value
Energy efficiency bonus
Additional power

Rare miners also get a bonus on top, marked as Premium value. To see the calculation for a specific miner, click the ? next to Value on the Select miner screen.

Does my miner keep earning while it's locked?

Yes. While your position is open, the locked miner keeps mining and earning BTC rewards for you as usual.

Rewards are frozen only if the position reaches liquidation.

How much does it cost?

There's a service fee charged when the position is opened. The fee is a percentage of the funds amount and depends on your VIP level: the higher your level, the lower the fee.

There is no annual interest, but the service fee is charged again each time the position is extended for another 30 days:

For a BTC position, it stays a one-time fee if you turn auto-renewal off and repay by the deadline.
For a miner position, auto-renewal is always on and can't be turned off, so a new service fee is added to your outstanding amount every 30 days until you repay in full. The longer you keep the position open, the more you owe, and the higher your risk level.

What is the repayment deadline?

Each position has a 30-day repayment window. You'll receive reminders before the deadline so you don't miss it.

With a miner as collateral, auto-renewal is always on, so the position isn't closed if you don't repay by the deadline: it's extended for another 30 days instead.

With BTC as collateral and auto-renewal off, your position may be closed automatically, and the outstanding amount will be covered from your locked BTC.

What is Auto-renewal?

Auto-renewal is a setting that automatically extends your position for another 30 days when it reaches the repayment deadline, so you don't have to repay immediately.

When auto-renewal is on, the service fee for the new period is added to your outstanding amount, and the deadline is extended by 30 days.

For BTC positions, auto-renewal is turned on by default and you can turn it off at any time. For miner positions, auto-renewal is always on and can't be turned off.

What happens if my collateral loses value?

Your collateral is measured by its current USD value. If that value falls, the ratio of what you owe to your collateral rises. This is called the risk level. It also rises when your outstanding amount grows, for example each time the position auto-renews.

If your risk level gets too high, you'll receive a push notification and email warning you to repay some of the outstanding amount or, with BTC as collateral, add more BTC.
If the risk level reaches the liquidation threshold, your position is liquidated. With BTC as collateral, the outstanding amount is covered from your locked BTC, and any remaining BTC is returned to your balance. With a miner as collateral, BTC rewards for that miner are frozen, and you get 7 days to repay in full and get the miner back.

You can reduce your risk level at any time by repaying part of the outstanding amount, or by adding more BTC to a BTC position.

What is the risk level?

The risk level shows how close your position is to liquidation. It's calculated as the ratio of what you owe to the current value of your collateral.

A lower risk level means your position is safer.
A higher risk level means you're closer to liquidation.

Each position shows its current risk level, along with the warning value and the liquidation value: the collateral values at which you'll be notified and at which the position is liquidated.

What happens after a miner position is liquidated?

You don't lose the miner straight away. Rewards for it are frozen, and you get 7 days to buy it back.

When a position is liquidated, a one-time charge equal to the service fee is added to the amount you owe. The position screen shows the exact amount to repay.

To recover the miner, repay the full amount shown. Partial repayment isn't available during these 7 days.
Once you repay in full, the miner is unlocked, starts earning rewards again, and the position is closed.
You'll receive reminders by push and email, including the exact deadline.
If you don't repay within 7 days, the miner goes on sale and you'll be notified. Rewards the miner would have earned in the meantime are not returned to you.

Can I manage my position after opening it?

Yes. From the Instant Funds screen, you can:

Repay: pay back part or all of the outstanding amount to reduce what you owe and lower the risk level. After a miner position is liquidated, only full repayment is available.
Adjust collateral: add or withdraw BTC at any time. This is available for BTC positions only.
- Add BTC: add more BTC to your locked balance. This lowers your risk level and helps protect the position from liquidation if the BTC price drops.
- Withdraw BTC: if the BTC price has risen and your locked BTC is worth more than needed for your position, you can withdraw part of it back to your wallet. The maximum amount is calculated automatically.
View position details: see the outstanding amount, the locked collateral, risk level, repayment deadline, and liquidation value.

You can't add collateral to a miner position, or get more funds for a miner that's already locked. If you need more, open a new position with another eligible miner.

You'll find step-by-step instructions in the Instant Funds instructions section.

Where can I find Instant Funds?

You can access Instant Funds from several places in the app:

The side menu under Assets
The Assets tab at the bottom of the screen
The More menu on the USDT, USDC, or BTC wallet page

Is Instant Funds available in my region?

Instant Funds may not be available in certain jurisdictions.

In European Economic Area (EEA) countries, identity verification (KYC) is required to use Instant Funds. Once verified, only USDC is available. USDT is not supported in the EEA.

What are the minimum and maximum amounts?

The minimum amount is 5 USDT or USDC.

For a BTC position, the maximum is 10,000 USDT or USDC per position.
For a miner position, the maximum also depends on the miner's value: the Select miner screen shows the Get up to amount for each miner. Your total outstanding amount across all miner positions can be up to 10,000 USDT or USDC, counted separately from your BTC positions.

How many positions can I have at the same time?

You can have up to 3 active BTC positions at a time.

Miner positions are counted separately, and you can have several of them open at once. If you reach the limit, the app shows it on the Use Miner tab.

What if I don't have enough BTC?

If your BTC balance is too low to open a position, you'll see a message in the app. You can top up your balance by buying BTC, depositing from an external wallet, or converting another currency.

What if none of my miners can be used?

The Select miner screen shows the reason next to every miner you can't use, for example the miner is listed for sale, was bought in installments less than 90 days ago, sits on an external wallet, or its energy efficiency is above 12 W/TH. Resolve the reason shown, and the miner becomes available to use. With installments there's nothing to resolve: you just wait until 90 days have passed since your final payment.