FAQ [ENG]2020-09-15T16:41:50+00:00




What happens if I am not able to repay the loan or forget to do it?2019-11-18T10:35:04+00:00

The system will send several reminders via e-mail prior to the scheduled repayment date. If you can’t make the repayment, the system will automatically liquidate a part of your collateral and pay your loan back.

How long does it take to get my USDC?2019-11-18T10:55:09+00:00

After accepting the offer, you immediately get it in your INLOCK wallet.

The minimum number of confirmed blocks required:

  • 12 blocks in case of USDC
I have not received the confirmation e-mail to verify myself.2019-11-03T05:34:27+00:00

Please check all your folders, especially the “Spam” section.

What is 2FA (Two-Factor Authentication)2019-11-03T05:36:53+00:00

With 2-Step Verification, you’ll protect your INLOCK account with both your password and your phone.

Signing in with 2-Step Verification is easy.

  1. Go to the sign-in page and enter your username and password like you normally do.
  2. Then you’ll be asked for a second verification step, like a six-digit code or a prompt, which you’ll receive from Google on your phone. 

If you set up 2-Step Verification, you can use the Google Authenticator app to receive codes even if you don’t have an Internet connection or mobile service.


I have a problem with 2FA (Two-Factor Authentication)2019-11-18T13:27:53+00:00

Authenticator app 2FA codes are based on time and thus require the time on your phone to be in-sync with the official time.

If your phone’s time is out of sync, or if you have changed time zones, the best way to fix it is to change the time settings on your phone from “Manual” to “Automatic”.

On iPhone

Go to the Settings app -» Select General -» Select Date & Time -» Enable Set Automatically

On Android

Go to the Settings app -» Select General Management-» Select Date & Time -» Enable Automatic date and Time

If you see two positions for your INLOCK account in your authenticator application, please check which one is working and delete/remove/hide the other one.

If you still require assistance, please email our support team at support via inlock.io

Depending on the problem, we might have to disable the 2FA on your INLOCK account.

Please note that due to security reasons, we will require you to provide us with specific personal information. Only after that, we will be able to disable 2FA authentication on your INLOCK account.


I lost or replaced my phone what should I do?2019-11-03T05:48:22+00:00

Please send an email to our support team at [email protected]inlock.io

Are my cryptoassets stored in a safe way?2019-11-03T07:00:14+00:00

All cryptoassets are stored on cold multi-signature wallets with distributed key storage. This is an industrial grade solution to prevent any misuse of funds on a technological level.


How can I protect my INLOCK account?2020-09-13T07:01:24+00:00

Security Reminder: check the URL you are visiting and enable 2FA. Do not disclose your password or make transactions with anyone claiming to be INLOCK employees.

Security checklist

 Make sure you are visiting prod.inlock.io to prevent any phising attacks. Only download mobil app from official app stores!
 Never install any browser plug-ins that claim to be associated with INLOCK.
 Never share any personal account details to anyone that claims to be an INLOCK Support Representative.
 Never tell your password or 2FA codes/keys to anyone, including INLOCK Support.
 Never send funds to anyone claiming to be a member of INLOCK Support.

Since mid of 2020, on INLOCK platform the 2FA (two-factor authentication) is mandatory to register new withdraw addresses and to perform secure login. We advice our customers to use 2fa protection in any case! We also advise using only the official Google Authenticator or Authy application to store and proceed 2fa code generation.

Email-based security, temporary lock and forced account lock

INLOCK platform generates email warnings from security events, for example: password reset, disable 2fa or temporary account lock after 5 invalid login attempts. In these emails, you can find a “LOCK ACCOUNT” button, to close your account until you can reach out INLOCK support.

How long does it take for my deposit to appear in my INLOCK wallet?2019-11-18T13:32:14+00:00

The transfers of cryptocurrencies are made by open blockchains, for which reason we cannot immediately credit incoming transfers when they appear on blockchains, only after a certain amount of additional blocks. Use the list below to check the minimum amount of confirmation (blocks) required to credit a transaction. In all cases of remittance transactions, note down the sender side transaction ID (so-called txid), as with this ID, our colleagues can help you if a remittance does not arrive.

 Minimum number of confirmed blocks required:

  • 6 blocks in case of BTC and LTC
  • 12 blocks in case of ETH, ILK and USDC

You can check the number of confirmed blocks per transaction at any time in well-known blockchain explorer applications (eg blockchair.com or etherscan.com). If your transfer does not appear in INLOCK after that block number, please contact INLOCK Support at [email protected] or live chat to indicate the transaction amount, the amount that needs to be transferred, the currency, and the crypto address to which the transaction was made.

How does INLOCK Borrow work?2019-11-27T12:16:26+00:00

1.) Register or Sign up with your e-mail address and your phone number, switch on Google 2FA and you are ready

2.) Deposit your crypto assets to your Secure INLOCK Account. The platform supports BTC, ETH, LTC, BNB. The credit limit will be immediately adjusted and available for you to use.

3.) Set your own terms, make a contract and start spending USDC!

4.) You can repay whenever you want during the contract period. You can reduce the capital and further interest by making early repayments.

How do I become a Lender?2019-11-27T11:41:39+00:00

In order to start lending, please sign up for the INLOCK Platform, deposit stablecoins to your INLOCK wallet, set the appropriate lending conditions and you are done. The process takes only about 2 minutes.

What is INLOCK?2020-09-19T13:23:12+00:00

INLOCK is a crypto-backed lending platform. The platform provides a matchmaking service between borrowers and lenders, and anyone can play both roles. Lenders can earn interest while providing liquidity to the borrowers. The borrowers can take out loans (in stablecoins) with overcollateralized contract protection. The INLOCK platform accepts various cryptocurrencies as collateral.

Our platform works 100% automated and is fully operating since May of 2019. With our automatic collateral management, our platform can guarantee the repayment to every lender: this is why INLOCK is one of the safest ways to utilize customer savings.

Lenders and Borrowers can freely set up their contract parameters (including the APR on the Lender’s side and Loan-to-Value on the Borrower’s side) and also freely manage their running contracts.

What is INLOCK token, the circulation and the total supply?2019-11-26T20:27:24+00:00

The INLOCK token (ILK) is a standard ERC20 utility token. It runs on the Ethereum network.

The Total token Supply is: 4.400.000.000 ILK

Token address: 0xf784682c82526e245f50975190ef0fff4e4fc077

Token Symbol: ILK

Decimals: 8

You can check the circulating supply on our Coinmarketcap profile page on https://coinmarketcap.com/currencies/inlock/

How do I borrow?2019-11-27T12:20:40+00:00

To start borrowing immediately, sign up for the INLOCK platform, deposit crypto for collateral on your account, customize your loan conditions and you will be given loan offers within 2 minutes.

How does INLOCK ensure repayments and mitigate risks for the Lenders?2019-11-27T11:51:10+00:00

All loans provided on the platform are secured by the borrower’s collateral (e.g., Bitcoin, Ethereum or other cryptoassets). During the loan term, the collaterals are stored in the safe INLOCK Vault.

If the borrower fails to repay the loan, the system will automatically sell out (liquidate) the collateral and return the funds in full with accrued interests to the lender.

It is also ensured that the value of the collateral covers the debt of the borrower. In case of an unfavorable price change, the INLOCK Platform sells the collateral automatically and returns the funds in full with accrued interests to the lender.

Thanks to the previously described protection mechanisms, the INLOCK Platform was able to achieve a 100% repayment rate so far.

How long does support take respond the questions?2019-11-25T18:41:53+00:00

You can reach us via live chat or email mostly between 08:00-21:00 CET. Occasionally we process the requests outside the opening hours as well, but we can not guarantee this.

Where can I buy ILK Token?2019-11-29T16:30:07+00:00

You can buy it on Inlock.io and Liquid.com 

Please be careful with other exchanges, there is no guarantee to get back your deposits.

What is the minimum loan amount?2019-11-27T12:21:09+00:00

The minimum loan amount you can take starts at 100 USDC

Does the lender have to evaluate the solvency of the borrower?2019-11-27T11:53:36+00:00

No, that is entirely unnecessary. Since all loans are secured by crypto assets of the borrowers, in case of a non-repayment, the funds with accrued interests will be automatically returned to the lender.

How quickly does Support respond to questions?2019-11-27T09:28:59+00:00

You can reach us via live chat or email mostly between 08:00-21:00 CET. Occasionally, we process the requests outside the opening hours as well, but we can not guarantee this.

For support questions, you can contact us directly via [email protected] or live chat.

What is ILK good for?2019-11-26T20:28:40+00:00

For more information please visit our site  https://go.inlock.io/token

In what currency can the loans be provided?2019-11-27T11:56:40+00:00

Currently, the Lenders can provide loans in USDC stablecoin.

We will add new stablecoins to the list of supported currencies regularly.

Was your smart contract audited by an independent cybersecurity company?2019-11-26T20:29:19+00:00

Yes, the INLOCK Token Smart Contract was audited by Coinfabrik.

More info at Coinfabrik’s page: https://blog.coinfabrik.com/inlock-token-sale-audit-report/


What is the official mail address of INLOCK?2019-11-27T09:31:14+00:00

Feel free to reach the INLOCK staff via [email protected]

For support questions, you can contact us directly via [email protected]

If you have any GDPR questions, please contact us via [email protected]

What is the maximum loan amount?2019-11-27T20:10:23+00:00

The maximum loan amount is determined by the collateral available of the borrower.

Can I have more than one lending position at the same time?2019-11-27T11:59:26+00:00

Yes, you can start as many lending positions as you want. You can even set different rates, duration and amount to each and see which performs better.

What type of documents are required for KYC verifications?2019-11-27T10:41:10+00:00

For identity verification, you will need your ID, driver’s license or passport.

To reach a higher customer identification level (with more functionalities), you need to prove your residential address, create a selfie with your ID and a paper with INLOCK & the date written on it.

Can I have a link to your GitHub repository to check the smartcontract?2019-11-26T20:29:57+00:00
Which cryptocurrencies are accepted as a collateral?2019-11-27T20:11:27+00:00

You can deposit the following crypto assets as collateral:


We are continuously working in order to increase the supported collaterals.

You can read more regarding the process in the following medium post: https://medium.com/@INLOCK/we-have-recently-announced-our-latest-cryptocurrency-addition-to-be-used-as-collateral-on-the-22d01d759dba


It is possible to communicate with the borrower directly?2019-11-27T12:00:10+00:00

No. To preserve true market competition the contracts are constructed in an anonymous way.

When do I need identify myself?2019-11-27T10:43:42+00:00

When borrowing under $1000, a simple customer verification is required. You only need to specify your email address during registration. You also need to set up a two-factor authentication (text message or google authenticator) to add your withdrawal address(es).

We highly recommend to set two-factor authentication for login attempts as well!

In what currency can the loans be borrowed?2019-11-27T20:12:20+00:00

You as a Borrower can receive loans in USDC. More stablecoins will be added regularly.

Why should I use the INLOCK Lending function?2019-11-27T12:00:47+00:00
  • The payback of your lending is 100% guaranteed as well as the payment of the accumulated interest.
  • No fees, furthermore no hidden fees for the lenders
  • Automated matchmaking system
  • Passive income
  • Fast operation of the platform
  • Truly a worldwide platform
  • A fully operational instant lending platform
How long does the verification process take?2019-11-27T10:46:47+00:00

Our AML staff tries to do it as soon as possible. In office-times it is usually completed in 20-30 minutes, but in special cases, it can take more than 24 hours.


How long does it take to get my loan?2019-11-27T20:13:14+00:00

After accepting the loan offer, the USDC will be instantly delivered and available in your INLOCK wallet and you will be able to withdraw it!

Is the use of INLOCK allowed in my country?2019-11-27T10:49:03+00:00

It is up to our customers to decide whether use or not to use INLOCK, but they must take into consideration the regulations of their home country. You may use INLOCK only for lawful purposes and in accordance with our Terms of Use.

How long is the maturity of the INLOCK loans?2019-11-27T20:13:59+00:00

You can choose between 10, 30, 45, 60, 120 or 180 days. If your loan request is eligible: you also can get counter offers with different maturity dates between 10 and 180 days.

How do I unsubscribe from the electronic mailing list?2019-11-27T10:50:40+00:00

You can withdraw your consent from receiving electronic communications at any time by sending a withdrawal notice to our support team via [email protected] If you decline or withdraw your consent to receive electronic communications, you agree that you are putting the safety of your INLOCK account in danger. If you do not accept or you withdraw your consent from receiving electronic Communications from NLOCK, Income Locker OÜ reserves the right to suspend or terminate your INLOCK account.

Is there a limitation of what purpose I can borrow for?2019-11-27T20:14:41+00:00

You may get a loan for any purpose. There is no limitation, also, there are no obligatory credit checks

Pioneer Program Bonus Reward Distribution2020-09-17T08:27:15+00:00

The following information is directly moved from INLOCK Pioneer Program Terms and Condition. Before you start to use your Pioneer program code or share it with your invitees, please read and accept the policy.


You shall be entitled to a commission as outlined in the terms and conditions.. The commission payable to Pioneer will be calculated according to the Commission Structure chosen on www.inlock.io (revenue share) unless different is agreed.

Commission settlement: Commissions will be calculated as stated on www.inlock.com. Any commissions payable in the original currency INLOCK received the transaction fee (BTC, ETH, LTC, ILK, etc.) except yield bonuses (see bellow in yield share section). Referred Customers in commission structures will need to validate themselves by completing the KYC process, and complete transactions on the INLOCK Platform. Eg.: get a loan, deposit to Savings Account, or Buy/Sell on the Tokenmarket. The Settlement period varies between the different transaction types.
In cases of disputed amounts beholden to advertised commission structures, “INLOCK Pioneer Program” maintains the right, and is expressly committed to, arbitrate the indebted amount of payable commission, and any additional items enclosed in agreements with its affiliates, in accordance with its own systems and server data. “INLOCK Pioneer Program” reserves the right to reject any commission for any reason, at its sole discretion.

Commission and Yield definitions:
Yield share: Additional 50% of all customers credited yield from Savings Account


Yield Schedule Unit Proportion

Distribution to Pioneers

 Credited Savings Account yield Yield inILK 50% Divided evenly between savings account’s depositor and borrower


Savings Account Yield distribution breakdown in an exchange:

  • Pioneer has two invitees who actively use Savings Account. First invitee deposit 1000 USDC, second deposit 750 USDC
  • The Weekly USDC Savings Account rate is 8% APY. The first invitee realize ~1,53 USDC/week; the second invitee realize ~1,15 USDC/week
  • Pioneer program members (inviting person) can access the realized yield’s 50% (proportion) in ILK tokens, calculated based on IBI price in the time of yield payout. This sum amount in this example: ~1,34 USDC/week to Pioneers.
  • This ~1,34 USDC/week reward will be divided evenly between inviting persons (Pioneers) of Savings Account owner (as lender) and the Borrower, who generate the revenue itself. Both parties can access the yield based on their Pioneer Program bonus level. If both parties have maximum bonus level (50-50%), both parties are entitled to half of the reward (~0,65 USDC in ILK / week).
  • If Savings Account’s inviting person has the minimum Pioneer Program bonus level (25%), but the Borrower’s inviting person has the maximum Pioneer Program bonus, the following distribution will be applied:
    • Savings Account’s inviting person (Pioneer of the lender): ~0,325 USDC in ILK / week
    • Borrow’s inviting person (Pioneer of the borrower): ~0.65 USDC in ILK / week
    • The remaining (unused) share from the applicable yield (~0.325 USDC/week) remains on the platform.

Revenue share: 50% of all user transaction fees (lifetime commission) as seen below:

INLOCK FEE SCHEDULE Unit Fee Distribution to Pioneers
Using ILK Token Market to SELL ILK Tokens Collateral 0,4% Purchaser
Get a loan (origination fee) ILK, based on Collateral (calculated on IBI) 0,5% Divided evenly between savings account’s depositor and borrower
Collateral termination on margin call level Collateral Max 5% Divided evenly between savings account’s depositor and borrower
Contract termination on due date without repayment Collateral Max 5% Divided evenly between savings account’s depositor and borrower
Contract termination from locked collateral Collateral 1% Divided evenly between savings account’s depositor and borrower


What does APR mean?2019-11-27T20:15:40+00:00

APR: Annual percentage rate, it is your interest rate stated as a yearly rate.

Can you give me a detailed example of how much I exactly need to pay to get a loan?2019-11-27T20:18:02+00:00

In order to get 1000 USDC as a loan using BTC as collateral at 150% overcollaterization rate for 45 days at 10000 BTC/USD exchange rate, I need to place 0.15 BTC ($ 1500 worth) as coverage for my loan. The loan creation fee is 0,5% of the collateral and must be paid in ILK, in this example it means $7.5 ($1500 * 0.005) worth of ILK. Using a 0.01 ILK/USD exchange rate, the loan creation fee is 750 ILK. In case of a loan with 4% APR, the interest is $4.93 for the full duration.

Are there margin calls, will I be notified beforehand and how much time will I have to respond?2019-11-27T20:20:13+00:00

If the value of the collateral assets decreases significantly, the borrower will be warned several times to manage her or his contract. The following solutions are available in INLOCK: adding more collateral to manage the collateralization level (LTV) or partially repaying the loan to increase collateralization level or as a last resort you can terminate the contract.


If the borrower fails to respond to the notifications, then there is a risk of the margin call. The margin call level is 105,1%, which means that the margin call will be performed when the USD value of the collateral is less than 105,1% of the loan debt. Reaching the margin call level results in a final and immediate termination of the collateral, and the associated fees will be automatically deducted. Furthermore, your collateral will be used to pay your loan back and in case of not being other collateral in the contract, your lending contract will automatically be closed.

What are the withdrawal fees?2019-11-27T20:20:50+00:00

Withdraw fees from e-wallets

BTC 0.0001 BTC

BNB 0.0005 BNB

ETH 0.005 ETH


LTC 0.001 LTC


*: zero commission fee for USDC withdrawal if the customer has a running loan or lend contract.

Minimum withdrawal amounts are adjusted to:

Bitcoin: 0.002

Ether: 0.1

LTC: 0.25

BNB: 1

USDC: 10

ILK: 1000

What happens if I am not able to repay the loan or forget to do it?2019-11-27T20:22:05+00:00

The system will send several reminders via e-mail prior to the scheduled repayment date. If you can’t make the repayment, the system will automatically liquidate a part of your collateral and pay your loan back.

Am I eligible for an INLOCK loan?2019-11-27T20:22:51+00:00

In order to obtain a loan, the client should sign up for the INLOCK platform and accept the terms and conditions which contain, among others, age and territory restrictions too.

There are no credit checks.

In which cases can INLOCK suspend or close my account?2019-11-27T20:23:49+00:00

The following reasons can lead to the closure of your account:

(a) using the Website in any way that violates any applicable federal, state, local, or international law or regulation;

(b) using the Website for any unauthorized, fraudulent, or malicious purpose;

(c) engaging in any other conduct that restricts or inhibits anyone’s use or enjoyment of the Website, or which, as determined by us, may harm the Company or users of the Website or expose them to liability;

(d) using the Website in any manner that could disable, overburden, damage, or impair the site;

(e) using any robot, spider, or other automatic devices, process, or means to access the Website for any purpose, including monitoring or copying any of the materials on the Website;

(f) accessing systems, data or information not intended by us to be made accessible to a user;

(g) obtaining or attempting to obtain any materials or information through any means not intentionally made available by us; or

(f) using the Website for any use other than the purpose for which it was intended.

When I get Margin call notifications2019-11-27T20:24:30+00:00

In order to avoid foreclosure, the platform will continuously notify the client of any reduction in the level of collateral overinsurance. Margin call: 125%, 120%, 115%, 110%, 106% (if somebody is under 125%, he / she will, of course, only be warned about the levels that are relevant to him / her). This way, we are giving clients the opportunity to immediately intervene in the active management of contracts. The following features actively influence the coverage level of a running contract:

  • partial repayment
  • adding of collateral
  • immediate termination of the contract

None of these costs extra. There is also the possibility of withdrawing collateral.

Prepayment: The borrower always pays interest only for the period during which the loan is used, regardless of the term. In this regard, the only condition included in the above quote is a moratorium on the payment of the 10-day minimum interest.

I took out a loan, how do I repay it?2019-11-27T20:25:24+00:00

INLOCK loans are working with USDC stablecoins. You take out loans in USDC and you also can pay back your debt in USDC.

You can make a loan repayment at any time. Please note that if you repay the loan within 10 days of the last withdrawal, you will be charged the interest of the full 10 days.

The loans must be repaid in USDC with accrued interest.

What are the advantages of early repayment?2019-11-27T20:26:09+00:00

In the event of an early repayment, the client can reduce her or his working capital (if he repays more than the current interest debt). As a result, you only have to pay interest on the debt for the remainder of the contract.

How can I get a loan?2019-11-27T20:27:41+00:00

Do you have an INLOCK account? If so, then you can easily access our borrow service.

You just need to deposit your collateral and afterward, you can get loan offers over the Service->Borrow menu. If you accept the offer, you will immediately get the borrowed amount.

All loan contracts are protected with collateral. You can set your overcollaterization level as you want.


The minimum amount is 100 USDC. If you place 0,1 bitcoin as collateral with a 150% overcollateralized contract, then you can get ~664 USDC loan in case of a 10000 BTC/USDC exchange rate.

Based on the current price level.

The minimum loan amount is 100 USDC

This is essential in crypto-backed loan services. We do not need to get any verification or make a credit check in order to get loans. Typically, customers that use INLOCK and similar services, are those who want to keep their cryptocurrencies but want to use their purchasing power to solve short term liquidity problems.

What is the minimum lending amount?2019-11-27T20:28:33+00:00

You can start lending at 100 USDC, and on the borrower side the minimum amount to borrow is also 100 USDC

What are the risks of the borrower?2019-11-27T20:30:55+00:00

There is a risk of losing the whole collateral or a part of it in case of non-repayment or a significant fall in the crypto market’s value. In order to prevent this, it is recommended to borrow a loan with proper overcollaterization level – also, monitor the market regularly and prepare for such events by adding more collateral to your running contract.

What does termination mean?2019-11-27T20:32:27+00:00

If the value of the cryptocurrency managed as a collateral would fall below 105% of the loan amount, the system will automatically sell the collateral and repay the loan from it.
The borrower may also decide not to cancel the loan by the due date, in which case the loan will be terminated while the remaining UDSC will be credited to the client’s account. The client chooses and terminates her or his loan himself.

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