Aven may make a “soft” inquiry on your credit report as part of the application process to verify your identity and assess your ability to repay. A soft inquiry does not affect your credit score.
A “hard” inquiry occurs only if you proceed with and accept an offer for the Aven Bitcoin Visa Card.
While your bitcoin serves as collateral for the Aven Bitcoin Visa Card, we take additional steps to manage risk responsibly and ensure your assets are safe.
Some bitcoin-backed loan providers advertise no credit checks and rely only on your deposited bitcoin. This can create higher liquidation risk for you.
By incorporating a credit check, we can offer you more stable terms (including some of the lowest interest rates in the industry) and reduce the likelihood of forced liquidation.