What are close and force close?

published on:2016-12-28 15:45:29Updated on:2016-12-28 15:38:34

Close is a platform where users voluntarily return the borrowed sum of money. In case that users finance buying and  apply for close(borrow fiat from platform), that means that users apply for selling the bitcoins of their accounts to get fiat then return fiat to platform. Similarly, suppose that users finance selling (borrow bitcoins from platform) and apply for close, which means users apply for using fiat of accounts to buy bitcoins then return bitcoins to platform.

Force close is that platform mandatory buy or sell bitcoins with the property of users' accounts under the limited condition to prevent liquidation loss.If the price fluctuates strongly, users can't pay off the loans, the platform will pay the debts for users and end the contract, while the dept  of users is free for interests.


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