Best Bitcoin Lending Sites in 2024

Nexo is another fintech company that allows its customers to lend with bitcoin and crypto collateral. Since 2018, it has issued more than $6 billion in credit and has served more than 4 million users globally. 

Services

With Nexo, you can access a range of crypto-related services. What’s more, you don’t need an account on another platform to buy cryptocurrencies, exchange tokens, or even earn interest on your digital assets. 

An additional benefit of Nexo is that it is regularly audited by a third party and complies with stringent security standards. Moreover, custodial assets are covered by a $775 million insurance policy, so even in the unlikely event of theft, user assets are safe. 

Loans

You'll receive funds within 24 hours in your preferred fiat currency, a wide range of which is supported by Nexo. You can also combine multiple crypto assets into one collateral. 

In addition, Nexo has a unique offer if you want to borrow to buy more crypto. You can leverage your position three times with the Nexo Booster and repay at your convenience. 

Lending your bitcoins or other supported tokens on Nexo will earn you up to 18% APY, and so far more than $200 million has been paid out in interest by the company.

Fees 

There are no origination fees or monthly repayments. Another benefit is that a crypto loan won’t impact your credit rating, requires zero paperwork, and has some of the lowest interest rates available. The LTV will directly depend on the asset you are using as collateral and ranges from 25% to 90%.

User Experience

Nexo is a great platform for both retail and institutional investors. The Android and iOS applications have a swift registration process, making it easy to get a loan and start earning.

Loans with other cryptocurrencies: Yes

Interest payout frequency: Flexible

LTV: 25%-90%

Mobile app: Yes

Crypto.com is much more than just a lending platform. It’s also a cryptocurrency exchange with a native cryptocurrency (CRO). The platform, which was launched in 2016, has over 50 million registered users and is available worldwide. 

Services

Crypto.com services include buying and selling cryptocurrencies, using a cryptocurrency wallet, earning APY, borrowing money, and even buying NFTs.

Loans

You can take out a loan at Crypto.com for a period of up to 12 months. The initial LTV and the amount of CRO you are staking will directly impact your APR. 

For instance, if you apply for a loan with a 50% LTV, the interest rate will be 12% per annum. If you stake more than $40,000 worth of CRO, however, your annual interest rate will be only 8%.

A variety of cryptocurrencies, including some of the best-known ones like BTC, ETH, XLM, EOS, ADA, and SOL, can be deposited as collateral when applying for a loan. You receive funds in USDT, USDC, TUSD, or PAX directly to your crypto wallet without having to go through a credit check. 

You can also earn by lending crypto or essentially providing liquidity for the exchange. Depending on the currency you lock up, you can earn up to 14.5% APY. Like loans, it also depends on the amount of CRO you are staking with Crypto.com.

Fees 

There are no late fees if you miss your monthly payment. You may repay the loan in full or in part at any time during the loan's duration. 

User Experience

Crypto.com offers plenty of benefits for a crypto exchange platform. It’s also an all-in-one financial platform with web and mobile applications and even a Visa debit card you can use to pay with your digital assets. 

Loans with other cryptocurrencies: Yes

Interest payout frequency: Flexible

LTV: 25%-50%

Mobile app: Yes

Celsius Network launched in 2018 after a successful ICO. Today, it boasts more than 2 million users and has processed over $8.2 billion in loans and $11.8 billion in assets.

Services

Celsius Network isn’t just a lending platform. It also serves as a cryptocurrency exchange and a payment processor. Additionally, it offers competitive rates to businesses, access to crypto investments, and portfolio diversification for high-net-worth investors. 

Loans

You can borrow in both stable coins and USD with Celsius Network. More than 40 assets, including BTC, ETH, ADA, LTC, DOT, and AAVE, are available for use as collateral. What we especially liked is that you don’t have to wait long to get a loan: It can take as little as 30 seconds if you are applying through the app.

However, it may take three to five business days for non-US customers who apply for a USD loan to have the money in their account. 

If you lend BTC or provide liquidity with other cryptocurrencies, you can earn the APY in CEL, the Celsius Network’s native cryptocurrency, or in the same asset. Reward levels are always higher if you opt for CEL. 

Fees 

Celsius doesn’t require you to pay any fees on withdrawals, transfers, transactions, origination, or terminations. However, not all services on Celsius and its applications are provided directly by the company.

For in-app purchases of cryptocurrencies, there’s a 3.5% fee, or a minimum of $10, whereas the fee is 2.99% for users in the European Economic Area and the UK. Expenses are lower if you are using Wyre and Coinify, which are 0.1% and 0.5%, respectively.

Loans at Celsius Network start at 0.1% APR. Recently, the company opened up to California residents and offers 0% APR at 25% LTV. 

User Experience

The Celsius Network boasts a sophisticated platform with API integration, smartphone applications, and easy access to the lending platform. It’s also been collaborating with Visa to release a card, so you can sign up and be on the waiting list.

Loans with other cryptocurrencies: Yes

Interest payout frequency: Weekly

LTV: Starts at 25%

Mobile app: Yes

YouHodler is a Swiss and EU-based fintech company that offers 90% LTV loans and flexible loan periods. The platform supports around 50 cryptocurrencies, and eight stablecoins, and integrates multiple services. 

Services

Users can obtain crypto-backed loans, trade with digital assets, and use crypto savings accounts. YouHodler also serves as a mobile and web wallet. Moreover, the company uses Ledger Vault tech to secure its clients’ assets. 

Loans

YouHodler offers flexible lending rates. You can use any of the top 50 cryptocurrencies as collateral and get your loan in USD, EUR, GBP, CHF, or USDT. Since the platform is linked with Visa and Mastercard, you can instantly withdraw your approved funds. 

You can get some of the highest loan-to-value rates from YouHodler, as 10- and 30-day loans will match your collateral 90%. For longer loan periods, LTVs are 70%, 60%, and 50% (360 days).

YouHodler's minimum loan amount of $100 is among the lowest on the market, which is a plus. 

If you are considering bitcoin lending as a method of earning from your portfolio, that’s also available on YouHodler, enabling you to earn up to 11.28% APY. Some of the highest yields are for stablecoins, while with ETH and BTC you can earn 5.5% and 4.7%, respectively.

Fees 

You can repay your loan at the end of the term or make flexible repayments during the term. It’s also possible to extend the loan term by paying a fee that ranges from 1% to 13.5%, depending on the term.

User Experience

YouHodler is convenient for more than just loans. Specifically, you can use a mobile application for iOS and Android phones to have your digital assets readily available on the go.

Loans with other cryptocurrencies: Yes

Interest payout frequency: Flexible

LTV: 50%-90%

Mobile app: Yes

BTCPop is one of the peer-to-peer lending sites mostly intended for advanced users. Through this platform, you can lend or borrow crypto and set the terms yourself. The BTCPop community cooperates to connect investors with businesses while offering a platform for IPOs.

Services

BTCPop stands out from other cryptocurrency financial platforms as it serves as a cryptocurrency exchange and a staking pool for PoS tokens. The option of having your company listed on the platform and creating an IPO is unique.

Loans

You can take a loan after completing the verification process, but there are extra steps since users on the platform are processed based on their reputation. If you’ve had at least two loans on the platform and you’ve paid back more than 2 BTC, you’ve earned a positive reputation to qualify for instant loans. 

There is more freedom for investors as they can do so anonymously. 

Fees 

Even though lenders and borrowers can set up their own terms, BTCPop also charges fees for its services. The listing fee is 1%, while the late fee is 2%. Instant loans are a bit more expensive, with fees ranging from 2% to 4%. Verified users with collateral enjoy the best terms, with an APR of 15%. 

Loan repayments can be made partially or fully for the duration of the loan. 

User Experience

The downside is that BTCPop is not as intuitive to use as other lending platforms. Much of the user interface looks outdated, and it’s not as responsive as we would have liked it to be. BTCPop also doesn't have a dedicate app.

Owing to its advanced features, it may be appealing to experienced users, especially since it offers crypto faucets and cloud mining, which may tip the scales in favor of BTCPop for some.

Loans with other cryptocurrencies: Yes

Interest payout frequency: Custom

LTV: Custom

Mobile app: Yes