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The Best

Crypto Lending Platforms

With the growing use and trust in crypto, several cryptocurrency lending platforms and providers have sprung up.

Knowing who to trust and who's going to give you the best rates and service is key in choosing who to do business with.

The below is a list of the best crypto lending platforms. We've included basic information to help you make an informed decision.

If you need more detailed information to choose a great crypto lending platform, simply click view profile.

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Description:
Aave is an open-source and non-custodial liquidity protocol for earning interest on deposits and borrowing assets
Pros:
  • No KYC required
  • Consistently competitive rates experienced
  • A large loan pool for various digital assets is offered.
  • Provides additional options for digital lending and borrowing.
Cons:
  • In the past, hackers have taken advantage of flash loans.
  • Not beginner friendly
Features:
  • Collateral trading
  • Rate switching
  • Liquidity pool reserve funds
  • aToken
  • Flash loan
Description:
By offering extremely flexible immediate loans that repay themselves over time, Alchemix allows you to reinvent the potential of DeFi.
Pros:
  • Users Earn future yield
  • The loan amount is automatically repaid.
  • Easy to navigate
  • Connects easily with external wallets
Cons:
  • Supports few cryptocurrencies
Features:
  • Vaults
  • Transmuter
  • Alchemix DOA
  • Token distribution
Description:
Nexo provides rapid cash loans to its customers through crypto lending.
Pros:
  • Its website and mobile app are both simple to use.
  • Business accounts receive full assistance.
  • The user can withdraw the funds at any moment because there is no lock-in period.
  • Withdrawal, platform, and transaction costs are all waived.
  • $375 million in insurance and ledger vault custodianship.
  • Nexo tokens have a 30% interest rate, which means the user can earn an extra 30%.
  • Everyday transactions with a free Nexo card.
  • High-yield savings accounts earn up to 12% interest on coins and fiat currencies.
Cons:
  • When compared to its competitors, it has fewer educational resources.
Features:
  • High security with Two factor authentication
  • Easy repayment
Description:
SALT lending offers centralized solutions helping customers who want to borrow money in US dollars as well as those who have crypto assets.
Pros:
  • Credit checks are not required by SALT.
  • Customers of SALT Lending are covered by comprehensive insurance.
  • Provides user funds with cold storage and multi-signature security.
  • For SALT loans, customers can use a variety of cryptocurrencies as collateral.
  • The process of creating an account is simple and straightforward.
Cons:
  • The loan amount must be at least $5,000.
  • Crypto as collateral is extremely risky because it is subject to market changes.
  • SALT charges higher repayment rates when compared with traditional loans offered through bank accounts
Features:
  • Stabilization
  • Loan Health
  • 24/7 customer support
  • Cryptoasset portfolio
  • Security
  • Cold storage
  • Keep tabs on the go
  • Mobile App
Description:
CoinLoan helps you borrow, swap, and grow your assets.
Pros:
  • The platform is simple to use.
  • Borrowers can get loans in both fiat and crypto.
  • CoinLoan provides flexible terms.
  • Deposits and withdrawals are not charged any fees.
  • This platform allows users to borrow money in both fiat and cryptocurrency.
  • Crypto-collateralized loans are available.
Cons:
  • There are no alternatives for choosing a loan or a borrower.
  • Volatility in cryptocurrency can have an impact on the loan.
  • If the user does not utilize the CLT currency, the income generated will be lesser.
  • Returns on investment may be lower than expected.
Features:
  • Interest accounts
  • Crypto-backed loans
  • Staking CLT gives you access to higher interest rates
Description:
SpetroCoin allows users to use their cryptocurrency holdings as collateral to back their crypto loans.
Pros:
  • Customer service that is quite responsive.
  • Simple methods and an easy-to-use UI.
  • Available all throughout the world with exception of few countries
Cons:
  • Relatively high charges
Features:
  • Loan-to-value ratio: The LTV ratio is the percentage difference between the loan size and the collateral value. SpecroCoin system will issue automatic notifications if the value of your collateral drops drastically. If you receive a notice, it proposes paying off a portion of your loan or boosting your collateral.
  • Simple user interface
Description:
Oasis Borrow is a digital platform for creating, saving, and exchanging Dai.
Pros:
  • Extra liquidity: Because Dai is a stablecoin, users have access to more liquidity. This liquidity may be utilized for trading, spending, or saving, and all use cases are possible.
  • Different forms of collateral, rates, and collateral ratios are appropriate for various risk profiles.
  • Borrowers are safeguarded against flash crashes by having prices change only once every hour, according to an Oracle security module.
  • There are no repayment plans, minimum payments, or credit history criteria, and there are no repayment schedules, minimum payments, or credit history restrictions.
Cons:
  • Oasis Trade does not currently accept non-ERC20 compliant crypto assets.
  • Oasis Trade features a few markets with extremely low liquidity.
Features:
  • Ethereum can be used as collateral to borrow Dai, which can then be used to buy more Ethereum or other cryptocurrencies for up to 2x multiples.
  • Only the Ethereum collateral type feature is available for trade in this first edition of Multiply. In the near future, more collateral choices will be available.
  • By utilizing Dai, Oasis may someday encompass activities done outside of Maker. As a result, deeper integrations with other DeFi projects will be available.
    Clients can examine their current Vault liquidation price and collateralization percentage before finalizing Dai generations, paybacks, collateral deposits, or withdrawals.
  • On each customer's user interface, Oasis keeps track of the "Liquidation Price."
Description:
Liquity.org is a platform that runs a decentralized asset borrowing mechanism
Pros:
  • The platform is decentralized to the nth degree.
  • Borrowing money comes with a 0% interest rate.
  • In compared to other platforms, the collateralization ratio is only 110 percent, which is fairly low.
  • Because the platform has no oversight, there is little possibility of manipulation.
  • Liquity.org is unaffected by censorship.
  • In terms of data and finance, the platform maintains a high level of protection.
Cons:
  • Poor customer support, the customer service helpdesk does not respond quickly and is only accessible via email.
Features:
  • Interest-free Borrowing
  • 3rd party frontends 
  • Censorship Resistant
  • 110% Collateral Ratio
  • Efficient liquidations 
  • Redeemable Stablecoin
  • Governace Free 
  • Incentives for stability providers 
  • Incentive for stakers


Description:
Venus is a decentralized currency and asset exchange where users can borrow up to 75% of the value of their total asset
Pros:
  • Fees are significantly lower than the industry average.
  • For minting the token, there are rewards.
  • The most widely used protocol on the BSC.
  • Simple user interface
Cons:
  • No mobile app
  • XVS cannot be borrowed from Venus.
Features:
  • Borrow cryptocurrencies and stablecoins with no credit check and fast origination directly on Binance Smart Chain.
  • Supply cryptocurrencies and stablecoins and earn a variable APY for providing liquidity the protocol that is secured by over-collateralized assets.
  • Mint stablecoins from your supplied collateral that can be used at over 60 million locations worldwide through the Swipe platform and more.
  • Controlled by the Venus Token, a governance token designed to be a fair launch distribution for the community
Description:
BTCPOP is a peer-to-peer Bitcoin banking business that offers services such as loans, investing pools, tied loans, and more.
Pros:
  • Instant loans with collateral and insurance support
  • Cheap lending fees
  • No loans without verification or collateral

Cons:
  • Unrestricted reputation building loans
  • To acquire a loan from peers, members must engage in the bids.
  • Money will be loaned to members based on their reputation.
Features:
  • Simple and easy user interface
  • The borrower has access to the loan listing, which includes all pertinent information. Loan status, investment options, and loan security information are all available to members.
  • Loan members have a variety of loan alternatives to choose from.
  • With your BTCPOP account, you can acquire a loan right away or advertise a custom loan on the open market to request a loan from peers.
  • It gives users access to transaction statements in the form of a downloadable document.
Description:
Compound is a decentralized bitcoin lending platform built on Ethereum blockchain protocols.
Pros:
  • The fact that no KYC, AML, or credit score is necessary to use the Platform provides consumers a sense of liberation.
  • One of the most established and well-known names in the DeFi space.
  • The native tokens of the Compound: COMP, are used to reward users. It functions as a governance token as well as a profitable asset.
  • There are no restrictions on using the asset pool several times.
  • The Compound is a Community-governed Decentralized Autonomous Organization.
  • In comparison to regular banking, interest rates are higher.
Cons:
  • Liquidation of collateral is frequently a big setback for users due to the unpredictability of Cryptocurrencies.
  • Users can only lend or borrow from a limited number of cryptocurrencies.
  • Yield farming can be particularly dangerous because users can exchange crypto for much more than they put down.
Features:
  • Hassel free access to credit
  • Smart contracts algorithmically calculated interest rates
  • Rewards lenders and borrowers with COMP token.
  • Yield farming
Description:
Ledn is a platform where cryptocurrency investors can use a savings account or a loan to leverage interest on their digital holdings.
Pros:
  • Supports Bitcoin-backed or supported loans
  • High security
  • iOS and Android app for easy access
  • No utility tokens required.
Cons:
  • Supports Bitcoin and USDC only
  • Ledn rates are slightly lower than its competitors.
Features:
  • Loans are funded within 24 hours of approval
  • Users can pay off loans at anytime without penalties
  • No monthly payments are required
  • Tax efficient
  • Proof-of-reserves
Description:
Helio provides safe and secure access to the greatest crypto loans, deposits, and even real estate options.
Pros:
  • Interest as low as 4%​
  • Flexible terms to suit any request​
  • Large panel of lenders​
  • Insured custody options​
  • No margin call options​
  • No credit checks​
Cons:
  • The minimum loan value can be too high at times.
Features:
  • No margin call
  • Non-Recourse
  • As low as 0% APR on qualified loans, the best rates on the market.
  • No Rehypothecated.
Description:
Hodlnaut allows its investors to lend their cryptocurrencies and stablecoins for high-interest rates.
Pros:
  • High-Interest rates.
  • No minimum deposits or lock-in period.
  • Simple user interface
  • The platform has an app available on Android and IOS
Cons:
  • Supports limited cryptocurrencies
  • Fiat currency deposit not supported
  • Crypto loans are available only for institutions and not for individual traders.


Features:
  • Hodlnaut platform accepts leading cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), USD Coin (USDC), Dai (DAI), and Tether (USDT) (USDT).
  • Every Monday at GMT 8+, there are provisions for collecting weekly rewards.
  • The interest rate on a Hodlnaut loan is determined by market conditions (demand) and earnings from the preceding month.
  • The interest is paid in the same cryptocurrency that the users deposit.
  • Users can withdraw funds at any time because there is no minimum deposit or lock-in period.
  • Customers can determine the interest they will get by entering the applicable crypto asset and the number of days on the Hodlnaut website's interest calculator.
Description:
Get a cryptocurrency loan backed by the TOP 40 coins with up to 90% loan to value ratio (LTV). Earn crypto with 12.3% APR +
Pros:
  • Converts crypto-to-fiat currency and crypto-to-crypto.
  • Weekly compound interest and a high LTV ratio
  • Youhodler platform is closely monitored and secure.
  • Flexible loan repayment options are available.
  • Credit checks are not required of the users.
  • Profits can be withdrawn immediately by the user.
  • Stablecoins can earn up to 12% annual percentage yield.
Cons:
  • A $100 deposit is required.
Features:
  • Increase loan-to-value
  • Extend price down limit
  • Set take profit prize
  • Close without repay
  • Borrow Bitcoin
  • Manage loan duration
Table of contents
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Back to the rankings

What is crypto lending?

With crypto lending, a user can borrow or lend cryptocurrencies. These lending agreements will usually have a fixed payback term and come with a fee or interest.

There are different kinds of lending agreements (we'll cover them in more detail below), some of which can have you borrowing cryptocurrencies in as little as a few minutes.

There are a number of specific crypto lending platforms that specialize in this service, however, many of the better crypto exchanges also have some form of basic crypto lending available to their users.

How does crypto lending work?

Crypto lending generally requires three different parties.

  1. The lender
  2. The borrower
  3. The exchange

The exchange is usually a DeFi platform that allows P2P sharing and lending crypto.

As a generally rule, the borrower will have to provide some form of collateral before borrowing anything. This is to secure the lender in case the borrower defaults on their repayment.

The lender retains the ownership of the cryptocurrency they're lending. However, for the duration of the lending agreement, they won't have any rights to use that cryptocurrency as they've given that permissions to the borrower.

Types of crypto lending agreements

There are generally 2 forms of crypto lending agreements, flash loans and collateralized loans. Here's the difference.

Crypto Flash loans

Flash loans permit the borrowing of crypto without you having to put up collateral. They get their name because the entire process of getting and repaying the loan is handled in a single block.

If the loan cannot be repaid with the interest, the transaction is cancelled before it's written and validated in the block. Effectively making it so the loan never happened.

There's no human interaction with this kind of lending and all is handling by the smart contract that dictates the lending process.

So, if the flash loan is handled in a single block, what's the actual usage of this kind of crypto lending agreement?

It's generally used for quick trades that take advantage of price differences between two liquidity pools.

Imagine you're interested in token A.

In liquidity pool 1, that token is trading at $1.

However, in liquidity pool 2, it's trading at $1.20.

This is obviously a great opportunity for you to trade it and make a small profit on each token.

The problem you face is you have no available funds to make the initial trade. Rather than give up, you could use a flash loan to facilitate this trade and take advantage of this arbitrage opportunity.

Now let's imagine that you take out a flash loan for $10,000 USDT. You'd set up the flash loan along the below steps.

  1. You receive the funds to your crypto wallet
  2. You use them to purchase $10,000 of the token in LP 1
  3. You then sell those tokens on LP 2 for a total of $12,000
  4. You pay off the loan plus interest in the smart contract

Anything that's left of your $2000 profit after you've paid the flash loan fee is yours to keep.

If, for any reason, any of the steps cannot complete, then the flash loan is cancelled before it can be written to the block. Meaning there's no risk for you unless you get the math wrong and don't properly account for fees and exchanges.

Collateralized crypto loans

Collateralized crypto loans are similar to regular loans you may be familiar with. These still require the three parties, however, the borrower receives more time to use the funds but must provide some collateral.

Because of the very volatile nature of most cryptocurrencies, you'll likely have to provide a very low loan to value ration.

What this means is you'll have to provide a large percentage of the amount you're borrowing in collateral. Often around 50%.

What this means is that for a loan that equals $5,000 in value, you will have to provide $10,000 of an asset as collateral. You'll also need to keep an eye on price swings. If the value of your collateral drops below the agreed value, you'll need to top it up. And if it falls drastically, getting close to the borrowed value of assets, you may be forcefully liquidated so the lender doens't make a loss.

In the above example of you putting up $10,000 for a $5000 loan, you might be liquidated as soon as the value of your collateral hits $6000.

Can you borrow cryptocurrency without collateral?

As mentioned above, you can borrow cryptocurrency without collateral. however, you'll be limited to flash loans if this is your preferred method of lending crypto.

The positives of crypto lending

  • Easily accessible capital - Pretty much anyone can get a crypto loan. All you need for a flash loan is to find an arbitrage opportunity and have the ability to set up the steps. For a collateralized crypto loan, you just need the ability to put up the collateral requested.
  • Smart contract automation - For the majority of loans, a smart contract manages the whole process which makes the system far more scalable than doing things manually.
  • Passive income with little work - In addition to staking your crypto., lending can be a great way to earn good interest completely passively.
  • Low interest rates - Not as cheap as home mortgage or car loans, crypto loans can be cheaper than credit cards and personal loans.
  • Based on asset value - You can often borrow value that's equivalent up to 50% of your portfolio. Some specific crypto exchanges offer higher than this though.
  • No credit check- It can be difficult to get fiat loans thanks to credit checks. With crypto loans and lending, you're assessed solely on the value of your portfolio which can make things easier. Crypto lending platforms and exchanges typically won’t run a credit check when you apply, making it an incredibly attractive financing option for people with poor credit or no credit history.

The negatives of crypto lending

  • High risk of liquidation - Crypto is so volatile that even over collateralized loans can find themselves liquidated unexpectedly.
  • Smart contract weaknesses - One of the many attack vectors for hackers and scammers is smart contracts. If there are issues, loopholes,. or poorly written code, attackers can take advantage of the contract and cause real damage.
  • Increased risk - Crypto lending is risky thanks to the volatile nature of crypto. By lending por borrowing you increase the risk of your portfolio.
  • Locked assets - If you lend your crypto, or if your loan has an outstanding repayment balance, you won't be able to use it for anything. If prices then fluctuate, this could be a significant problem.
  • Repayment terms - Loans usually are built around typical installment repayment structure. Different platforms will have different terms and lengths. You need to know what these terms are before taking out the loan.
  • Insurance - If lending your own digital assets, any funds in a crypto interest account might not be insured. That means oif the exchange fails, you're going to lose your money. If this is how you operate, you might want to talk to a good crypto insurance company to see if they can help.

How to choose a great crypto lending platform

If you have the funds to spare, are happy with the risk, and know that you want to borrow cryptocurrency, you just need to look for the right crypto lending platform.

The above list will be a good starting point. however, in addition to our recommendations, you need to look at each one to see...

  1. If they support the currency you want to lend/borrow
  2. Have terms you're comfortable with
  3. Have fees you can afford
  4. Are a reliable and stable lending platform that's not likely to collapse

If you're happy with the lending platform, and happy with the risks, you should be good to go on your crypto lending adventure.