February 11, 2022

Best Bitcoin Lending Sites

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Whether you're a lender or a borrower, there's a lot of benefit to using Bitcoin lending sites. But which one is best?

Bitcoin lending sites provide a valuable service - even if you don't have Bitcoin.

If you do have Bitcoin, you can lend it out and earn a return on your coins without having to sell. And if you need Bitcoin, you can borrow some in the same way you'd take a bank loan.

But which Bitcoin lending sites are worth using?

In this guide, review the interest rates, fees, loan terms, security and more for the top Bitcoin lending sites.

Is it safe to lend my cryptocurrency?
There's always risk involved in lending out your cryptocurrency. Prices could change dramatically and the value of borrowers' collateral might become insufficient to repay their loan balances. Because cryptocurrencies aren't insured by the FDIC or SIPC, there is a possibility that your investment could be lost. Deciding whether the returns are worth the risk is ultimately up to you.

Best Bitcoin Lending Sites

Finding the best Bitcoin lending sites means finding the best rates, the widest selection of coins, and the lowest fees. We've sifted through the options to bring you the companies offering the most favorable terms to their borrowers and lenders.

1. BlockFi

New York-based BlockFi is one of the biggest names in crypto lending sites. It was founded in 2017 with the aim of providing banking services to markets that didn't traditionally have access.

BlockFi's business works by lending out users' money in their BlockFi Interest Accounts to institutional borrowers such as investment funds, traders, market makers, and businesses that need crypto liquidity, then taking interest on those loans.

This way they can serve both lenders and borrowers in the crypto market.

BlockFi supports around 8 popular cryptocurrencies including Bitcoin, Ethereum, and Uniswap. They also have a rewards Visa credit card that lets you earn cash back in crypto on your purchases.

Through their Lending program, BlockFi currently offers loans against holdings of 4 currencies: Bitcoin, Ethereum, Litecoin, and PAX Gold. You can get loans in USD, GUSD, and USDC. Loan interest rates depend on the LTV ratio, ranging from 20% - 50%:

  • 50% LTV - 9.75%
  • 35% LTV - 7.9%
  • 20% LTV - 4.5% (available only for BTC-backed loans valued up to $20k USD)

Origination Fee: 2% origination fee on new loans.

2. Nexo

Nexo is a cryptocurrency lending site that was founded in 2017 by Antoni Trenchev and Kosta Kantchev in Zug, Switzerland.

Like the other sites on this list, they offer high-yield crypto interest accounts where users can earn as much as 20% APR on their crypto, plus several fiat currencies. They also offer crypto-backed loans with 0% APR for some users, and the ability to borrow as little as $50 and as much as $2 million.

Nexo's interest accounts are a little complicated, though not in a way that's uncommon for the space. To earn the highest interest rates, you must join Nexo's loyalty program, which requires you to hold NEXO tokens, their proprietary coin.

Your rate is also affected by whether you choose a fixed term, which requires you to leave your crypto on Nexo for a certain period of time, and whether you take your payment in NEXO.

Your rate will also be affected by which coins you invest.[1]

  • Fixed Term or Flex: Receive 1% - 5% bonus to crypto and fiat rates with a fixed-term deposit. Terms are one month for crypto, three for fiat currencies. Fixed terms aren't currently available for stablecoins.

  • Payout Method: There's up to a 2% bonus for users who take their earnings in NEXO, rather than in the same currency they originally invested.

  • Loyalty Tier: Based on percent of users' holdings made up of the NEXO token:[2]
    • Base: Up to 1% NEXO tokens in portfolio
      • 0.0% bonus on crypto
      • 0.0% bonus on stablecoins
      • 0.0% bonus on cash

    • Silver: 1 - 5% NEXO tokens in portfolio
      • 0.25% bonus
      • 0.25% bonus on stablecoins
      • 0.25% bonus on cash

    • Gold: 5 - 10% NEXO tokens in portfolio
      • 0.50% bonus
      • 1% bonus on stablecoins
      • 1% bonus on cash

    • Platinum: Over 10% NEXO tokens in portfolio
      • 1% bonus
      • 2% bonus on stablecoins
      • 2% bonus on cash

It should be noted that some coins have limits at which the payment rate goes down. For example, the base rate for Bitcoin is 4.5%, but beyond $500,000, it drops to 1.5%.

Nexo's Borrow program lets users borrow over 40 fiat currencies against a wide range of cryptocurrencies and stablecoins. You only pay interest on the period you borrowed, and there are no prepayment, origination, or installment fees.

Interest rates start at 0% APR for platinum level members with an LTV below 20%. Their interest rates depend on loyalty level:

Interest Rates

  • Base: 13.9%
  • Silver: 12.9%
  • Gold: 8.9%
  • Platinum: 6.9%

Available LTV ratios vary from 15% - 90% at time of writing, but they change frequently based on the price of the asset. Look here if you're interested in how LTV is calculated

Here's a full list of current LTV rates at Nexo.

3. Celsius Network

Based in London, Celsius is a popular crypto lending and borrowing platform founded in 2017 by Alex Mashinsky, Nuke Goldstein, and S. Daniel Leon.

6/12/2022 Update: Due to extreme market conditions, Celsius has paused all withdrawals, Swaps, and transfers between accounts.

They have their own proprietary crypto token called CEL, which they issued in 2018. CEL is the basis for access to many of their higher-end interest and loan products and isn't available for U.S. customers.

They support over 40 cryptocurrencies, stablecoins, and gold tokens, including Bitcoin and Ethereum. Their primary features are their Earn and Borrow programs, which offer users interest and crypto loans, respectively.

The Earn program offers some impressively high interest rates up to around 17%. However, getting the highest interest rates depends on holding CEL. They have a tiered loyalty program that offers bonuses based on the percentage of your holdings made up of CEL token.[3]

  • Bronze: 5-10% CEL - Earnings Bonus: 5%
  • Silver: 10-15% CEL - Earnings Bonus: 10%
  • Gold: 15-25% CEL - Earnings Bonus: 15%
  • Platinum: >25% CEL - Earnings Bonus: 25%

Users can also receive bonuses for taking interest payments in CEL rather than in the currency they invested originally.

Their full rates, broken down by coin, location, and earning style, can be found on their site.

For their Borrow feature, Celsius accepts a wide range of coins as collateral for their crypto-backed loans. Loans can be received in USD, USD Coin, Gemini Dollar, Tether, and more.

They don't do credit checks, there are no origination fees, and loan terms come in periods of 6, 12, 24, and 36 months.

Their loan interest rates range from as low as 0.0% (in California at 25% LTV) to as high as 8.95%. Here are the rates for base users:

  • 25% LTV: 1.0% APR
  • 33% LTV: 6.95% APR
  • 50% LTV: 8.95% APR

Celsius's loyalty levels also mean discounts on loan interest:[4]

  • Bronze: 5-10% CEL - Loan Interest Discount: 5%
  • Silver: 10-15% CEL - Loan Interest Discount: 10%
  • Gold: 15-25% CEL - Loan Interest Discount: 15%
  • Platinum: >25% CEL - Loan Interest Discount: 25%

4. Crypto.com

There's a good chance you've heard of Crypto.com by now, given that they recently bought the naming rights to the Staples Center—soon to be the Crypto.com Arena.

Hong Kong-based Crypto.com was founded in 2016 by Kris Marszalek and Bobby Bao. While they do offer the same services as a crypto lending site, they offer a range of other features as well.

Their exchange supports more than 250 cryptocurrencies and stablecoins, with full analytical tools as well as limit and margin trading. They offer staking rewards of up to 14.5%, and offer crypto-backed loans against nearly 15 different cryptocurrencies, but only in limited regions.

The Earn feature on Crypto.com offers returns starting at 1% and going as high as 8.5% for cryptocurrencies like Bitcoin and 14.5% for stablecoins. Rewards are paid weekly in USD Coin.

Rates are based on Term (Flexible, 1-month, or 3-month), and staking CRO, their proprietary coin, for 6 months. Different amounts confer different bonuses.

The lowest rate is for a Flexible Term and a CRO stake less than 400 USD in value. You can increase your rate by switching to a 1- or 3-month fixed term, or staking $4,000 in CRO or, for the wealthiest investors, $40,000 in CRO for 6 months or more.

You can find an interactive calculator here that will make it easier to calculate your potential rates.

Crypto.com's Borrow feature is not currently available to customers in the U.S. Interest rates are based on LTV and CRO stake, as you'll see here:[5]

Initial LTVCRO Stake < 100KCRO Stake ≥ 100K
LTV = 25%2.00% APR1.00% APR
LTV = 33%6.00% APR4.00% APR
LTV = 50%8.00% APR6.00% APR

There are no credit checks, no statement deadlines or late fees—according to Crypto.com, you can pay whenever you want, though you will be charged interest on outstanding debt.

Loan Terms are 12 months, and the max LTV is 50%.

Other Sites to Consider

YouHodler is another popular Bitcoin lending site that offers accounts and crypto-backed loans, in addition to an exchange with margin trading options. Their loans go up to 90% LTV and users can earn up to 12.3% APR on their holdings.

Unlike on many other platforms, with YouHodler, you have the ability to continue trading your crypto while you earn interest through their Multi HODL service, and use it as collateral for crypto-backed loans.

Binance is one of the largest cryptocurrency exchanges in the world. Their staking service allows users to earn returns on coins held on the platform.

Binance accepts Bitcoin and Ethereum as collateral for loans in BUSD or Tether, two popular stablecoins.

Ledn is a Toronto-based crypto banking platform founded in 2018. They offer savings accounts for Bitcoin and USD Coin, and Bitcoin-backed dollar loans.

Ledn users can earn up to 9.25% in their savings accounts, and get loans funded within 24 hours with an LTV of 50% and 10.9% APR.

CoinLoan is a European crypto lending site based in Estonia, one of Europe's most crypto-friendly countries.

Users can take crypto loans in a variety of coins with LTVs up to 70%. They charge a 1% origination fee and interest rates between 4.95% and 11.95%, depending on LTV.

They also offer up to 12.3% APY returns on coins deposited in the platform, as well as an easy-to-use exchange.

What is Bitcoin Lending?

Crypto-backed loans allow traders to borrow cash or other cryptocurrencies against the value of their own cryptocurrency holdings.

This can allow you to avoid incurring tax penalties from selling off your crypto for cash. It also protects investors against sudden market changes in the case that they are not invested.

The opposite side of these loans is, of course, borrowing. There are a variety of reasons why individuals or institutions might need temporary access to more cryptocurrency than they can afford.

Typical borrowers include other traders, market makers, businesses that provide or require crypto liquidity, and investment funds.

Bottom Line

There are a lot of great options out there for both lenders and borrowers of crypto, and with the popularity of crypto on the rise, it's fair to assume there will be more competition and better rates for you, the consumer.

If you hold even modest amounts of cryptocurrency, lending it out through one of the platforms mentioned above can be an easy way to acquire another source of income. And if you need access to more crypto than you can afford to buy right now, rest assured, there are plenty of places to get it.

Remember, rates change frequently, and different platforms may offer better rates for certain coins. It always pays to do your research before you choose a platform for your crypto lending needs.


  1. ^ Nexo Help Center. Earn Interest on Crypto Assets - Explained, Retrieved 2/6/2022
  2. ^ Nexo Loyalty Program - Explained, Retrieved 2/6/2022
  3. ^ Celsius Network. Can I earn a higher reward rate if I hold CEL tokens?, Retrieved 2/6/2022
  4. ^ Celsius Network. CEL Token Explained, Retrieved 2/6/2022
  5. ^ Crypto.com. What are the interest rates for Crypto.com Lending?, Retrieved 2/6/2022

Jeremy Harshman is a protector of art and writing at CreditDonkey, a personal finance comparison and reviews website. Write to Jeremy Harshman at jeremy.harshman@creditdonkey.com. Follow us on Twitter and Facebook for our latest posts.

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