14 BEST Crypto Lending Platforms: Crypto Loan Sites in 2023

Here we will discuss the Loans for Crypto and review some top rated Crypto Lending Platforms along with features and comparisons:

Cryptocurrency lending platforms give loans against cryptocurrencies deposited by the customer as collateral. Different crypto lending loan apps charge different percentage interests on loans offered – ranging from 0% to 50%.

The best crypto loan platforms let the user earn yields either through Yearn Finance or other methods to reduce the rate of interest on loans they could have on the same crypto.

This tutorial discusses crypto-backed loans and applications offering fiat or crypto loans with collateral being the same crypto or other crypto or even USD/fiat currencies.

Let us begin!

How Crypto Lending Platforms Work

BEST Crypto Lending Platforms Crypto Loan Sites

Loans for crypto are the simplest and easiest loans to take compared to bank loans. Crypto-backed loans and crypto loans accrue very low interest rates on some best crypto lending platforms compared to bank loans.

You will also find that loans against crypto have lesser requirements – sometimes no credit checks or AML checks, compared to bank loans. Besides, we can repay loans for crypto on many lending platforms at any time the client wishes.

#1) Customer researches the best crypto lending platforms: Crypto loans do not need a bank account unless for some platforms and are hence availed online by well-known tried-and-tested crypto platforms.

#2) The customer creates an account: All liquid loans crypto platforms require a sign-up and connection of a wallet to the app.

#3) Customer checks loan terms and costs: Almost every flash loan crypto platform has a calculator or a way a customer can use to check the cost of the loan depending on the targeted loan amount, collateral to commit, payment period, and loan-to-value or LTV.

Many platforms offering loans against crypto or crypto loans with collateral have fixed interest on loans and these interests depend on the LTV. Others offer flexible interest rates determined by market demand and supply.

Most flash loans crypto or liquid loans crypto platforms allow the customer or borrower to adjust LTV, target loan amount, repayment period, crypto to lock as collateral, and crypto to be borrowed, among other things. This is done before the loan is advanced.

#4) Customer deposits crypto collateral: Crypto collateral is either locked until the loan is paid or freed with some apps giving crypto loans. It is possible to find crypto loans without collateral, but the chances are very low.

Additionally, very few allow you to take a loan equal to the collateral. The LTV of 90% is the most optimal, allowing you to take out loans for crypto worth 90% of your deposited crypto assets.

Some flash loans crypto lending platforms or liquid loans crypto apps allow you to deposit USD/EUR or other fiat and stable coins as collateral. Fiat can be deposited via fiat methods like credit cards. Most allow you to send crypto via a crypto wallet address.

#5) Customer takes the loan: The crypto lending platforms, for those asking how crypto loans work, have a web or mobile app interfaces through which customers log in to take the loans. Simply access the specific platform’s interface by logging in.

Go to the Borrow feature and choose the borrowing terms like LTV, amount of loan, payment period, crypto to borrow, bank or address where the loan is to be deposited, and collateral coin and amount, among other things. Proceed to request the loan.

Some loans for crypto are processed immediately; others will wait for a few hours. The best crypto loans will be given at the lowest rates, have rebates, and meet your demands as regards what crypto is given and how much.

For those asking how crypto loans work, you may have platforms depositing collateralized funds into Yearn Finance pools or other places to use to generate income for customers. These may in turn give interest-earning tokens in exchange for collateral.

A customer can exchange interest-earning tokens for stable coins or fiat again and repeat collateralization. These platforms may, by generating passive income for customers in this manner, help customers to reduce the interest charged on the loans advanced.

Market Trends: 

  • Crypto lending is one of the hottest topics besides DeFi, NFT, and decentralization. Crypto lending platforms manages over $10 billion of total loan originations since 2019.
  • The crypto lending market is set to grow significantly as general digital lending on banks and the non-banking platform will reach USD 7.04 billion in 2023 and manage a CAGR of 25.9% from 2023 to 2030.

Crypto loan interest rates resonate between 0.2% to 13.9% on many platforms:

Borrowing interest rates

[image source]

Expert Advice:

#1) Best crypto loans are given at interest rates of between 0% and 5%. Many platforms are giving those rates. Crypto loans, like leveraged or margined trading, are recommended to boost your trading position, especially in a bull market or when shorting crypto. Be careful, liquidations are common in spots and futures markets.

#2) Many platforms offer a way to reduce interest by allowing borrowers to repay or hold the company’s native ecosystem or platform tokens.

#3) Liquidation of loans is the most dominant risk for crypto loans. When the crypto price reduces intensely after you get a loan with a company, the value of the collateral may go below the value of the loan advance given the high volatility of crypto prices, causing the company to make margin calls or to liquidate your collateralized cryptos.

This, in most cases, affects newer and riskier tokens. To avoid such liquidation, you may need to take loans at very low LTVs and interest rates, otherwise, you may keep adding collateral.

We have several platforms (Alchemix, for instance) in this list that allow you to stay off liquidation risk by never liquidating the crypto. Others like Abracadabra have automatic repayment of loans from interest earned for the Yearn customer’s deposit through Yearn Finance.

Frequently Asked Questions

Q #1) Are crypto loans worth it?

Answer: Yes, when utilized well, for instance, for advanced and professional trading. Some do not have repayment periods, some allow users to earn on deposited crypto to reduce loan rates, and some do not liquidate no matter crypto prices, and these are worth it.

Be sure to check liquidation risks, interest rates (most of which are very low for cryptos), and other hidden costs.

Q #2) Where can I get loans to buy crypto?

Answer: CoinRabbit, SpectroCoin, Abracadabra, Celsius, Aave, Compound, Gemini Earn, YouHolder, MoneyToken, BlockFi, Mango, CoinLoan, and Nexo are some of the best places to get crypto loans with collateral. There are a few platforms offering crypto loans without collateral.

Q #3) Which crypto lending is the best?

Answer: CoinRabbit supports 71+ cryptos for lending and you can borrow between $100 and $100 million. However, the APYs are higher than most platforms, offering even 0% to 5%. Those offering these low rates include Abracadabra, Compound, Mango, CoinLoan, and BlockFi depending on the crypto being advanced.

For Bitcoin, fiat, and mainstream tokens, the best rates are about 5%.

Nexo offers low rates up to 0% for those holding 10% of their portfolio or collateral as Nexo tokens. CoinLoan gives a 50% discount with CLT token repayments. Celsius. The network reduces interest by 30% when you repay with CEL tokens.

Q #4) What are the risks of crypto lending?

Answer: Risks of crypto lending include liquidation risk and margin calls where due to a decreased value of collateralized crypto as a result of market factors, the value of the loan exceeds that of the collateral leading to the selling of the crypto to cover the loan.

Liquidation is a forceful way a customer gets to lose their collateral savings against their wishes. Other risks include changes in fee rates and borrowing rates as market demand and supply change.

=>> Contact us to suggest a listing here.

List of the Best Crypto Lending Platforms

Some popular and best Crypto Backed Loan Platforms:

  1. Zengo
  2. WhiteBIT
  3. CoinRabbit
  4. SpectroCoin
  5. Abracadabra
  6. Celsius
  7. AAVE
  8. Compound
  9. Alchemix
  10. Gemini Earn
  11. YouHodler
  12. CoinLoan
  13. Nexo
  14. Mango V3
  15. MoneyToken
  16. BlockFi

Comparison Table of the Best Crypto Loan Platforms

Lending platform APR/APYCryptocurrencies loanedBest for Rating
Zengo4% to 8%; and up to 17.3% APR with third-party dapps.70+ including BTC, ETH, and stablecoins.Multiple dApps lending when you connect them via a wallet bridge.4.7/5
WhiteBITVaries. Currently between 12% to 23.19%BTC, ETH, USDC, ETC, ATOM, UNI, APE, MATIC, DOT, AVAX, NEAR, DOGE, ADA, SOL, SHIB, LINK, TRX, BCH, LTC, XRP, XLM, EOS, USDTMargined trading4.5/5
CoinRabbit12% and 16%71+ including Ethereum, Bitcoin, USDT, Dash, Polkadot, Doge, Litecoin, Zcash, Tron, Bitcoin Cash, EOS, BUSD, and USDC. Those borrowing altcoins because it supports newer coins 4.6/5
SpectroCoin4.95% to 13.45%Euro– BTC, ETH, XEM, BNK, USDT, and Dashloans of 25% LTV 4.5/5
Abracadabra 0.5% borrow fee charged at borrowing time and 0.5% interest. A liquidation fee (4%) may apply.30+ tokens on Ethereum, BSC, FTM, AVAX, AETH, and Matic chains. These include Wrapped Bitcoin, Wrapped Eth, and others. Borrow only Magic Internet Money stable coinInterest farming – reduce interest paid on loans by staking the same collateral. 4.3/5
Celsius0.1% up to 18.63%. USDC, USD, USDT, TUSD, MCDAI, GUSD, and PAX. High-net-worth persons and corporations interested in staking and borrowing
AaveVariable interest rate borrowing dependent on market demands.30 Ethereum-based assets including DAI, USDC, and Gemini dollars. There also are other lending/borrowing markets from Avalanche, Fantom, Harmony, and Polygon. It also pools real-world assets like real estate. Best for developers needing crypto loans without collateral 4.1/5

Detailed reviews:

#1) Zengo

Best for ultimate security, all in one, wallet where you can connect to multiple Dapps lending via a wallet bridge.


Zengo lists 120+ cryptocurrencies that users can store, send, receive, and stake, as well as buy using fiat payment methods (bank transfers, credit cards, debit cards, Apple Pay, and Google Pay). Zengo lets users earn crypto through lending and staking, simply by storing it on the wallet, and this is earned from lending.

Besides, one can lend their cryptocurrencies through third-party lending Dapps that they can connect to Zengo through WalletConnect.

Aave, Compound, and dYdX are some of the most common or popular lending protocols available for connecting with the Zengo wallet via the WalletConnect and Zengo bridge.

Through these protocols, one can lend their cryptos right from their Zengo wallet while enjoying the benefits of Zengo wallet such as a non-custodial wallet that does not need you to do complicated private key setup and management, high APY of up to 8% on stored crypto, and easy crypto buying and selling.

How lending works on Zengo

Step 1: Download the iOS/Android Zengo app. Continue to set up the wallet by entering your email and verifying it.
To recover your wallet you will need to set up the 3D FaceLock verification and save your recovery file on iCloud/Google Drive/ DropBox. This recovery file is NOT a private or a secret share and is useless to a hacker.
Step 2: From the home page, you can stake Tezos.

Alternative: Visit the Dapps We button and review the available lending protocols. They include Aave, Compound, and dYdX. Visit the dApp web page or app and search for the Connect Wallet feature, proceed to connect, and choose WalletConnect. It will display a QR code. Return to the Zengo wallet and from the QR scanner icon, scan the QR code presented on the Dapp being connected.

Proceed to use the protocol to lend the crypto or simply deposit the crypto to earn passive income.

Cryptocurrencies Supported: 120+


  • Buy crypto through bank transfers, credit/debit cards, ApplePay, and Google Pay.
  • Swap cryptocurrencies.
  • Stake cryptos through third-party protocols.
  • Use third-party Dapps.

Zengo Pro: While Zengo Essentials continues to be offered for free, upgrading to Zengo Pro unlocks a suite of premium security features for as low as $16.67 a month.

  • Legacy Transfer: Grant a beneficiary access to your digital assets in case of death or prolonged absence with a feature inspired by traditional inheritance systems. This is the market’s first and only self-custodial tool supporting this functionality.
  • Asset Withdrawal Protection: Prevent unauthorized withdrawals with 3D FaceLock biometric verification.
  • Advanced Web3 Firewall: Real-time risk assessments and alerts that protect you against Web3 attacks.
  • Priority 24/7 Support: typically response time of under 3 minutes, supporting 180 languages.


  • Lending through third-party protocolsearns high APYs.
  • Instant purchase and swapping of crypto.


  • You can only lend and not borrow.
  • Lending Rate: Up to 8%

#2) WhiteBIT

Best for margin trading and low-fee crypto trading.


With the platform’s lending service/tool, you can lend your crypto and earn profits from it. Currently, the rates vary from one crypto to another but can be as high as 20%+ for those lending their BTC, EOS, and ETH assets. Others paying similar rates are USDC, ETC, ATOM, UNI, APE, MATIC, DOT, AVAX, NEAR, DOGE, ADA, SOL, SHIB, LINK, TRX, BCH, LTC, XRP, XLM, and USDT.

WhiteBIT cryptocurrency exchange also allows users to borrow Bitcoin and other cryptocurrencies for multiplying their trading positions, fulfilling their needs for crypto transfers and payments, and withdrawals. The collateral for the loan so advanced is the available crypto assets on one’s WhiteBIT account.

That means you may not borrow more than what you currently have, but it is a great service if you still need to use your crypto and still keep earning more if the prices are going up, when/if you do not want to sell your crypto assets due to depreciating/falling prices to avoid hefty losses.

The loan is paid by simply depositing/returning the amount advanced to the collateral balance. It incurs some interest which is to be paid during repayment.

For purposes of margin trading, you can borrow up to 20x your trade positions or amount invested/tied into a trade.

The platform allows users to borrow up to 20 tokens though more could be added in the future.

How lending works on WhiteBIT

Step 1: Sign up on the platform. You will need to verify the account by submitting the required information.

Step 2: Deposit the collateral or the crypto to lend.

Take a loan or lend.

Cryptocurrencies supported: These include ADA, APE, AVAX, BCH, BTC, DOGE, DOT, EOS, ETH, LINK, LTC, MATIC, NEAR, SHIB, SOL, TRX, USDC, USDT, XLM, and XRP.


  • Traders can lend their assets in 10, 20, 30, 90, 180, or 360-day duration. Rates remain stable during the lending period.
  • An unlimited number of loans is allowed. Loans are unavailable only when and/or if there is an insufficient pledge on the Collateral Balance exists.
  • Borrow up to 20 assets and/or use them as collateral for loans. The list includes very popular cryptocurrencies. WhiteBIT’s platform token WBT can act as a pledge for a loan but cannot be borrowed.
  • You cannot borrow national currencies or fiat. You can only borrow other cryptos and exchange them for USD, Euro, and other national currencies.
  • Leverage for margin trading is determined by the maintenance margin fraction ratio between 50% (1x leverage) and 2.5% (20x leverage).
  • Collateral is prone to liquidation if the value falls below some risk score. The risk score, which can be between 0% and 100% reflects the customer’s solvency or insolvency. Liquidation occurs if the ratio of the pledge to the loan is about 1:1. Liquidation does not affect other balances beyond the collateralized funds in the Collateral Balance account. Margin calls take place when 25% of the loan pledge is lost.
  • No loan limit as long as you have the collateral to pledge the loans.
  • The fee for the loan is 0.078% per day calculated per second till the repayment time.


  • For those lending their assets, earned profits in APYs remain constant regardless of lending duration.
  • High margins compared with many other crypto exchanges.
  • Low trading fees can, together with high margins, multiply chances for profits in trading although the danger of liquidation and hefty losses also grows with growth in the amount borrowed.
  • Institutional lending and other institutional services.


  • Collateral is exposed to liquidation if the value of crypto keeps decreasing heavily. Huge leverages can increase risk of liquidation and hefty losses.

#3) CoinRabbit

Best for those borrowing altcoins because they support newer coins


CoinRabbit is one of the safest crypto lending platforms that lets customers save crypto so they can earn passive income at specified interest rates on saved crypto. They can also use crypto loans collateralized by those same crypto savings.

Customers do not need to do KYC or credit checks. Loans are given at 50%, 70%, and 80% LTVs (loan-to-value that expresses a relationship between the loan amount and market value of the collateralized assets). The interest paid on the loans depends on the amount taken and LTV. It is calculated monthly and there is no mandatory loan term for the loan.

The latter depends on your wish to buy the collateral back or the liquidation limit. When the collateral is consumed by the loan due to a change in currency rates (margin call), the loan is closed and you lose the collateral. Customers can borrow from $100 to $100, 000,000. To get back the collateral, you pay back the loan plus the APR.

How lending works on CoinRabbit:

  • Calculate your crypto loan on the app. Enter the collateral coin, enter the amount to loan out or to lock as collateral, and choose the LTV percentage.
  • Deposit collateral amount.
  • Back to step 1 and enter the receiving address.
  • Spend money.
  • Buy back your collateral.

Cryptocurrencies Supported: 71+ including Ethereum, Bitcoin, USDT, Dash, Polkadot, Doge, Litecoin, Zcash, Tron, Bitcoin Cash, EOS, BUSD, and USDC.


  • 24/7 live support.
  • 5-10 minutes.
  • APR on the loan. APR ranges between 12% and 16%.
  • Receive the exact amount of collateral for the exact amount you loaned, plus accumulated APR.
  • Earn interest on crypto up to 10% for stablecoins.


  • Quick loan processing time in minutes after depositing the collateral.
  • Minimal loan amounts are available from $100.
  • Multiple crypto support, including newer tokens.
  • Free withdrawal for savings.


  • The risk of collateral liquidation is always there.

Verdict: CoinRabbit is an easy way to save without losing crypto value due to support for stablecoin savings. For purposes of loan, though not as affordable as most, it is quite fast and supports a vast range of assets for loaning than the popular crypto lending platforms.

Lending Rate: Between 12% and 16% in APY.

Website: CoinRabbit

#4) SpectroCoin

Best for loans of 25% LTV.


SpectroCoin is a cryptocurrency exchange and portfolio management tool that enables users to buy, sell, exchange and manage 40+ cryptocurrencies in addition to taking crypto loans against their crypto collateral. The exchange enables customers to buy crypto via a branded Visa debit card and IBAN bank account for depositing and withdrawing money.

The debit card lets customers convert their crypto to Euros and either withdraw at ATM or pay for goods and services with it at any Visa merchant store. The platform also enables customers to buy crypto using VISA, MasterCard, SEPA, Skrill, Neteller, and Payeer. Advcash, local bank transfer, and other methods are also supported.

The crypto-backed loans can be paid to your bank instantly after you request. Accepted currencies for collateral are BTC, ETH, XEM, and Dash. The challenge is that it supports giving out loans in just six cryptos in addition to Euro– BTC, ETH, XEM, BNK, USDT, and Dash.

The minimum loan amount asked is quite low at 25 Euros and up to 1 million Euros. The LTV can be chosen as 25%, 50%, and 75%. High LTV is riskier but allows the client to get the biggest available loan for their collateral. The loan duration is up to 1 year.

How lending works on SpectroCoin:

  • Sign up and log in.
  • Deposit the cryptocurrencies you plan to put as collateral. Press Get a loan.
  • Choose withdrawal or amount to loan, LTV, collateral amount, and currency or crypto to withdraw. Click Next to confirm.
  • The loan will be deposited into your SpectroCoin Loans wallet. It can be transferred to a bank account instantly. You can spend it with the card.
  • Watch the loan-to-value percentage. Maintain the loan by increasing collateral to avoid liquidation or keep the loan under control until repayment.

Cryptocurrencies Supported: Euro, BTC, ETH, XEM, BNK, USDT, and Dash


  • Flexible repayment plans before the maturity date. The customer decides when and how to pay.
  • Low rates between 4.95% (for 25% LTV), 7.65% (for 50% LTV), to 11.45% (at 75% LTV) for large loans of over 15,000 Euros. Standard loans of between 1,000 to 15,000 Euros have a rate of between 5.55% and 12.75% depending on LTV selected. Microloans of below 1,000 Euros have an interest rate of between 5.85% and 13.45% depending on the LTV chosen.
  • Mobile (iOS and Android) apps in addition to the web platform.
  • Trade crypto with advanced order types.
  • Coin listing on the initial exchange offering.
  • Live support.


  • Have multiple loans at the same time.
  • Low interest rates.
  • Additional products like crypto trading, crypto Visa card for easy spending through bank accounts, in-built crypto exchanges, accept Bitcoin payments and convert crypto to fiat instantly. It also provides payment processing APIs, payment buttons to install on websites, storefronts, and eCommerce plugins for Magento, WooCommerce, etc.


  • Very few cryptos are supported.

Verdict: The platform gives low-interest rates for those taking loans at just 25% loan-to-value. Otherwise, higher LTVs render expensive loans.

Lending Rate: 4.95% to 13.45% depending on the loan amount and LTV.

Website: SpectroCoin

#5) Abracadabra

Best for interest farming. Reduces interest paid on loans by staking the same collateral.

Abracadabra Money

Abracadabra.money is a lending and staking platform that uses decentralized Kashi lending technology. It allows you to deposit borrow stable token MIM against interest-bearing tokens. You deposit interest-earning tokens to Yearn Finance and can borrow MIMs against those tokens.

With the technology, the app allows users to adjust risk tolerance based on the collateral being used. It lets users keep collateral cryptos like and borrow Magic Internet Money – the platform’s stablecoin against these crypto assets. It is also one of the safest crypto lending platforms by safety technology used.

You can deposit USDT/USDC/DAI into the Curve.fi pools/Yearn Finance and receive interest-bearing tokens like yvUSDT that you can borrow MIM against. After this, you can use the Borrow or Leverage features on Abracadabra.money.

It also allows customers to swap the thus borrowed MIMs for USDT and deposit it to receive more yvUSDT and keep repeating the process. To borrow, you can use either the Borrow or Leverage feature. Leverage positions yield profit.

The leverage feature works by the user choosing a coin they want to leverage, the desired leverage, and the system will borrow the respective amount of MIM tokens that are swapped to USDT. The latter are deposited into the Yearn Vault to receive more tokens that are then deposited back into the user’s account to collateralize their position.

How lending works on Abracadabra:

  • Sign up and log in.
  • Click or tap borrow. Once on the borrowing page, select the collateral crypto you want to borrow against, the chain, and the amount. Enter MIM to borrow or use the percentage buttons. You will be allowed to see your maximum collateral ratio, liquidation fee, borrowing fee (added to your debt at the time of borrowing), interest, and price. The liquidation price is the collateral price at which you are flagged for liquidation. It will show you how many tokens are in your wallet.
  • Approved. Click the two buttons below the Liquidation Price to open the borrow position.
  • The Positions page shows the opened positions and you can click Repay to close any Repay MIMs and remove your collateral.

To leverage, do the following:

  • Click or tap Leverage. Select tokens to leverage. Move the slider to determine the leverage. Check the leverage amount.
  • Change the swap tolerance if possible by clicking on the small cogwheel above the position’s health. This tolerance is a change in value you are comfortable with. The initial price peg and trade slippage from price changes during execution affects tolerance.
  • Check the collateral to be deposited and the leveraged value of the collateral deposited.
  • Pay MIM owed to closely leveraged positions. The Deleverage Icon on the Positions page achieves this. Select the amount of MIMs to pay and the amount of collateral you want to remove. Set adequate Swap Tolerance to facilitate transaction execution otherwise, it will fail. Click or tap Repay.

Cryptocurrencies Supported: Deposit collateral in 30+ tokens on Ethereum, BSC, FTM, AVAX, AETH, and Matic chains. These include Wrapped Bitcoin, Wrapped Eth, and others. Borrow only Magic Internet Money stablecoin


  • Decentralized lending.
  • Leverage your collateral to earn more tokens and increase your position.
  • Connect a wallet and swap crypto tokens.
  • Stake SPELL tokens to earn SPELL.
  • Farm and earn ROI on your tokens.
  • Bridge chains at a cost to transfer tokens from one blockchain to another.
  • The maximum loan-to-collateral ratio is 90%.
  • Deposit USDT, USDC, DAI, and other stable tokens.


  • Get a MIM loan as you earn 5% on Yearn Finance on interest-bearing tokens. This happens when you deposit tokens in the magical Convex pools instead of depositing to a normal Convex or Curve Gauge which just gives the rewards. When you deposit in the magical pools, you can borrow MIMs against those tokens while still earning rewards.
  • Other products to increase ecosystem value – staking, network bridge for cross-chain transactions, etc.
  • Very low borrowing fee going by crypto lending platform comparison to others – 0.5% borrow fee charged at borrowing time and 0.5% interest. A liquidation fee (4%) may apply.


  • A bit complicated set up to attain interest-bearing tokens.

Verdict: Low-interest rates will favor borrowers on this platform. This is in addition to the platform supporting a wide variety of tokens. Users can take advantage of Yearn Finance pools to reduce the interest paid on crypto loans.

Lending Rate: 0.5% borrow fee charged at borrowing time and 0.5% interest. A liquidation fee (4%) may apply.

Website: Abracadabra

#6) Celsius

Best for high-net-worth people and corporations interested in staking and borrowing


Celsius gives loans at an APY of 0.1%, probably being the lowest in the market. This is in addition to letting users earn up to 18.63% APY to get paid weekly. CelPay also lets you send and receive crypto as payment for goods and services fee-free. With the Celsius Visa card, you can withdraw at ATMs and/or spend crypto at merchant stores.

Besides, it works as an exchange on which you can buy crypto with a credit card and third-party methods. You can also swap over 40 cryptos instantly with each other fee-free.

The minimum stable coin loan borrowable is $100 and for USD, it is $1,000. USD loans are wired to the bank after approval. It supports the lending of 40+ cryptos. Loans can be collateralized with BTC, ETH, CEL, ADA, LINK, MATIC, and DOT.

The platform offers up to 30% off the interest by paying with CEL platform token. Interests can be paid in CEL, BTC, ETH, USDC, GUSD, TUSD, USDT, and MCDAI.

How lending works on Celsius:

  • Open the app. Sign up and log in.
  • In the bottom right corner of the screen is the Celsius logo. Click or tap on it.
  • Tap the Borrow option. Use a loan calculator to estimate monthly interest payments.
  • Tap the Borrow Stable coins button or Borrow Dollars option. Choose the amount to be borrowed from the dropdown box and select a stablecoin to borrow. Enter the amount and currency; choose the desired collateral from the collateral button.
  • Choose the interest rate for the loan. The more collateral, the lower the interest. Choose a term between 6 and 36 months. Go to the next page. For a Dollar loan, you need to tap on the Bank account button and fill in the details of the bank where the loan will be sent.
  • It will show all the details like margin call, liquidation price, interest (monthly and yearly), etc. Confirm that you have read and understood or agree to the terms. Enter the code verification (2FA or PIN) and proceed.

Cryptocurrencies Supported: USDC, USD, USDT, TUSD, MCDAI, GUSD, and PAX.


  • Pay interest rates on loans separate from the principal every month. You can set automatic interest payments on the app (in CEL or Dollars).
  • Also serves high-net-worth individuals, private wealth managers, corporations, fund managers, etc.
  • Access to lending and trading desks for institutions and high net-worth individuals.


  • Variable borrowing terms from 6 to 60 months.
  • APR starts at 0.1% up to 18.63%. Celsius offers LTV of 25%, 33%, and 50%.
  • Additional products and services include institutional lending and savings to lend through Celsius.
  • 0% interest rates for California students. It is one of the most affordable going-by crypto lending platforms compared to others.


  • Not all cryptos are supported by collateral.

Verdict: The crypto ecosystem is well supported with crypto debit card, trading, payment of goods and services with crypto, and holding CEL tokens. It is also well-suited for high-net-worth people and institutions interested in staking to earn from crypto or taking loans for their businesses.

Lending rate: 0.1% up to 18.63%.

Website: Celsius

#7) AAVE

Best for variable interest rate borrowing dependent on market demands. Best for developers needing crypto loans without collateral.


Aave is a decentralized protocol for borrowers and depositors with the later earning market demand-based incomes on their deposits. The open-source application allows users to interact with or through APIs, user interface clients, or via smart contracts on Ethereum.

Unlike on other platforms, users can earn interest on deposited assets and this offsets the interest rates accumulated on borrowing.

How lending works on Aave:

  • Sign up and log in.
  • Visit the Borrow section and choose the token to borrow. Enter the amount and select whether to borrow a stable (fixed rate over time but balanced after a long time) or variable rate based on Aave demand. Confirm the transaction. The rate can be changed later on at any time. You can switch between the two at any time.
  • The loan is repaid on the exact asset borrowed. To repay, Visit the dashboard, click Repay, then the asset), select the amount, and confirm. You can repay with collateral by selecting the asset needed to repay and the amount, then the asset to repay to. Eth is spent in the later transaction.

Cryptocurrencies Supported: 30 Ethereum-based assets, including DAI, USDC, and Gemini dollars. There are also other lending/borrowing markets from Avalanche, Fantom, Harmony, and Polygon. It also pools real-world assets like real estate.


  • Own a platform token called Aave that can be staked to earn staking rewards.
  • Depositors share the interest paid by borrowers – 0.09% of the flash loan volume. Flash loans are for developers and do not need collateral for as long as the liquidity is returned to the protocol within one block transaction.
  • No fixed term to repay. Just ensure your Loan-to-Ratio value is healthy to avoid liquidation.
  • Swap crypto for another even as you benefit from crypto-backed loans.
  • Repay the loan with collateral.
  • Community-led grants are given for new ideas.
  • Wallet integration.
  • Risk mitigation DAO.


  • Depositors earn interest by reducing interest rates.
  • No KYC or onboarding requirements.
  • Interest is accrued and compounded in real-time.
  • Same interest for savers of low or high amounts. Not many discriminations are going by crypto lending platforms in comparison to others.


  • Fluctuating interest rates and hence loans can be hard to plan for.
  • Only supports Ethereum-based crypto and coins.

Verdict: Aave also provided an opportunity for depositors to earn from deposited crypto even as they take loans on the same collateral. Thus, they can reduce the interest paid on the loans. The variable interests may make it harder for people to plan for loans.

Lending Rate: Variable and based on supply and demand.

Website: AAVE

#8) Compound

Best for borrowing with variable demand and supply-based loan interest rates.


Compound is a decentralized lending protocol for borrowers and lenders that also features its platform token called COMP. Lenders deposit and earn interest on their crypto, while borrowers can get loans and pay at algorithmic-determined interest rates. Customers can check supply markets and borrow markets and their data, such as liquidity.

How lending works on Compound.finance:

  • Visit app.compound.finance and connect wallet. The Supply Markets and borrowing markets are visible. Click and tap on the asset to supply the lock as collateral. Distribution of APY is the amount of COMP you earn per year supplying the assets.
  • Click or tap Enable and submit the transaction. Type quantity to supply and submit.
  • You can track the interests from the balance and Earn columns and click or tap earned COMP to claim and submit the transaction.

Cryptocurrencies Supported: 20+ markets supporting ETH, wrapped BTC, DAI, USDC, USDT, BAT, TUSD, UNI, ZRX, etc.


  • Earn 4% APR on your crypto balances even as you benefit from crypto-backed loans.
  • Earn Comp tokens when the loan is still active.
  • Integrated with Coinbase Custody, Anchorage, Fireblocks, BitGo, and Ledger.
  • Peer-to-peer lending.
  • Members can pay fully or partially any borrowed assets to another borrowing account to earn some of the collateralized amounts.
  • To borrow against collateral, click or tap the asset you want and then check the distribution APY (amount of Comp tokens you earn borrowing) and Borrow APY (the amount of Comp you pay for borrowing).
  • Type quantity to borrow, click/tap borrow, and submit the transaction.
  • Users can interact both as borrowers and lenders through InstaDapp – called yield farming.


  • Borrow interest rates vary per crypto and depend on market supply and demand.
  • Very low average interest rates are even below 0% depending on crypto.
  • Rewards are given using a platform native token called Comp.
  • No KYC/AML checks.


  • Varying algorithmic interest rates make it hard to plan for loans.

Lending Rate: Varies per crypto and market factors from 0% to double-digit.

Website: Compound

#9) Alchemix

Best for borrowing without the risk of liquidation


Alchemix DeFi protocol allows users to lend and borrow cryptocurrencies against their collateral and the loans will automatically pay themselves back in time. Customers are forever free from liquidation.

Users can deposit USD, EUR, JPY, GBP, AUD, and cryptos in the form of stablecoins as collateral and take up to 50% of assets worth of loan without selling the crypto collateral.

The amount used as collateral is also used to earn interest that is later used to repay the loan automatically, although the amount can also be spent in other ways by the customer.

How lending works on Alchemix:

  • Sign up and log in. Connect wallet.
  • Access the Deposit tap. Deposit DAI or other stablecoins – these are converted to a mint token all USD at a 1:1 ratio that is then deposited to Yearn.Finance vaults to earn yields. You can convert allUSD to fiat and invest it in Alchemix staking pools of liquidity pools.
  • To borrow money, access the Borrow tab, enter the amount to borrow or choose a percentage, click/tap borrow and confirm the transaction.
  • You can click Withdraw, Repay, or Liquidate tabs to withdraw assets, repay the loan, or liquidate.

Cryptocurrencies Supported: ETH, WSTETH, RETH, DAI, USDC, and USDT.


  • 50% LTV for all tokens.
  • No liquidation – customers can choose to self-liquidate.
  • No lock-up of collateralized assets and pay whenever you want.
  • Connect with other wallets and start taking loans.


  • No liquidation risk at all no matter what happens.
  • 100% of the collateral is still accessible after taking loans.


  • Loan possibility is up to 50% of collateral.

Website: Alchemix

#10) Gemini Earn

Best for institutional lending and borrowing


Gemini cryptocurrency exchange, which also includes a staking feature, lets users earn interest on their cryptos by lending to other institutional users (institutions). The interests start accumulating two days after depositing.

The interest is paid daily. For borrowers, the platform is best suitable for institutional lenders, such as traders, fund managers, corporations, wealth managers, liquidity providers, and brokers.

How lending works in Gemini:

  • Open an institutional account.
  • Apply for lending, deposit crypto into custody, etc.

Cryptocurrencies Supported:  50+ cryptocurrencies, including BTC, ETH, DAI, GUSD, etc.


  • Lend crypto for up to 8.05% APY.
  • Move the crypto to a trading account, withdrawal, or trade it as you wish.
  • Get paid interest in stablecoins.


  • Institutional grade lending.
  • Additional products like trading, charting, advanced orders, credit cards to spend crypto easily, APIs, lending, and staking.


  • Institutional lending rates were not disclosed.

Website: Gemini Earn

#11) YouHodler

Best for borrowing at an unlimited loan term. Single loan interest payments without monthly or weekly repayments; and for collateralizing loans with newer tokens


YouHolder provides crypto-backed loans for the top 58 cryptocurrencies, and the user can take up to 90% loan-to-value percentage. The platform also provides an opportunity for customers to deposit their crypto and earn up to 10.7% APR on it. Loans can be given in the form of stable coins or fiat currencies to banks or credit cards.

How lending works on YouHolder:

  • Create an account and log in.
  • Transfer crypto to the YouHolder wallet.
  • Choose a loan plan using a calculator to estimate interest. Adjust limit, close price, and other things as wished.
  • Click or tap Get a loan to proceed.

Cryptocurrencies Supported: 50+ including ETH, BTC, LTC, XRP etc.


  • Loans are given in USD, EUR, GBP, CHF, BTC, and Stablecoins.
  • Android and iOS apps in addition to the web application.
  • $150M pooled crime insurance by Ledger Vault.
  • Unlimited loan terms.
  • Interest is paid once at the end of the loan term – no daily or weekly or monthly or yearly bothers.
  • Set a closing price (the crypto price which when reached the loan is closed) for the loaned crypto.
  • APR from 50% to 85%.
  • The minimum loan amount is $100.


  • Manage loan details afterward like editing close price, extending repayment terms, adding more crypto to reduce liquidation risk, closing at any time to repay with collateral, increasing loan-to-value, and others.
  • Earn high interest 10.7% of your deposited crypto.
  • Crypto-fiat currency and crypto-crypto conversions.


  • High interest rates.

Lending Rate: 13.68% to 26.07%.

Website: YouHodler

#12) CoinLoan

Best for short-term loans at low-interest rates; institutional lending; and borrowing without locking collateral

CoinLoan - Crypto Lending Platforms

CoinLoan provides 20%, 35%, 50%, and 70% and loan periods between 1 month and 3 years. Customers can choose to take either crypto, stablecoins, or Euro/GBP loans. These can also be used as collateral. You can also hold crypto to earn up to 12.3% interest. Institutions can also get loans with interest rates starting at 4.5%.

How lending works on CoinLoan:

  • Sign up and log in. Verify the account. Deposit collateral.
  • Click/tap Borrow and estimate the loan cost from the calculator. Enter coin to the loan, coin to put into collateral, choose LTV, choose the period or loan duration, and see the total cost.
  • Click/tap Get Loan.

Cryptocurrencies Supported: 15 including BTC, ETH, USDT, USDC, TUSD, etc.


  • No lock-ins. Pay whenever you want.
  • Alarm and push notifications to help avoid margin calls.
  • Monthly repayments are required.
  • Android and iOS apps.
  • Earn up to 12.3% on your deposited crypto.
  • Institutional lending – up to 15 assets.
  • Swap and trade crypto.


  • Short-term loans lasting 30 days at a very low cost.
  • Get an unlimited number of loans.
  • Low-cost loans.


  • Borrow only up to 70% of crypto value only.

Lending rate: 1%, 50% discount with CLT token repayments. Also 4.95%, 7.95%, 9.95%, and 11.95% rates charged for 20%, 35%, 50%, and 70% LTVs respectively.

Website: CoinLoan

#13) Nexo

Best for borrowing for trading; institutional lending and borrowing; and Nexo token holders

Nexo - Crypto Lending Platforms

Nexo provides cash and stable coin loans against crypto held as collateral. Customers can borrow between $50 to $25 million without origination fees, no monthly repayment, and at APRs starting from 0% to 13.9% maximum. With Nexo Booster, you can borrow up to 3 times more crypto than needed. Stablecoins are used to cover up to 50% of collateral.

How lending works on Nexo:

  • Sign up and log in.
  • Go to the Top-up page. Click/tap Top Up, select coins to keep as collateral, enter the amount, and click/tap top-up.
  • To borrow, go to the Borrow page, choose the currency in which to borrow, enter the amount against available credit, and click/tap Borrow.
  • Use the funds on an exchange or withdraw.

Cryptocurrencies Supported: 38+ including BTC, ETH, as well as stablecoins, and others.


  • Nexo debit cards to spend at ATMs and auto-convert crypto to fiat.
  • 40+ fiat currencies plus stablecoins USDC and USDT in which to take loans. Over 38 cryptos, including BTC, ETH, and LTC, can be held as collateral.
  • No fixed payment schedule.
  • Gold or Platinum clients get premium interest rates of just 0%-1.9%.
  • Withdraw from the bank.
  • Keep LTVs below 20% and get 0%-1.9% interest rates.
  • Trade and swap crypto.
  • $250K per boost and 3x leverage when using Nexo Boost (for traders).


  • Low interest rates for premium users.
  • Leverage up to 1.25x to 3x.
  • Minimum of $50. Maximum of $2 million.
  • Withdraw from the bank.


  • High base interest rates for those not holding Nexo tokens.

Lending rate: The base interest rate is 13.9%. Silver (those with 1% of their portfolio as Nexo tokens) 12.9%. Gold (those with 5% of the portfolio as Nexo tokens) 8.9% and whose LTV is above 20%.

Those who choose LTV below 20% in this category get a 1.9% interest rate. Platinum (10% of portfolio being Nexo tokens) 6.9% interest rate for LTV above 20% and 0% interest rate for LTV below 20%.

Website: Nexo

#14) Mango V3

Best for margined/leveraged spot and futures trading while lending crypto

Mango Markets - Crypto Lending Platforms

Mango Markets lets anyone deposit crypto and stablecoins to earn interest or borrow against the deposits. It also comprises (up to 5x) margined spot and leveraged perpetual futures trading. Other features include swapping crypto for another.

How lending works on Mango:

  • Create an account from the app or browser and log in.
  • Scroll to balances under the Borrow tab and scroll through the assets that you can borrow. Select the desired asset to borrow. If collateral tokens or money is not added, find Deposit on the account dashboard. Otherwise, select the asset to borrow and toggle Borrow Funds from the Borrow tab and

Cryptocurrencies Supported: 15 including BTC, ETH, MNGO, USDT, etc.


  • APR is between 0.12% and 59.00%.
  • Margined spot and futures trading.
  • Earn interest between 0.0% and 55% on deposited cryptocurrencies.
  • Market making and liquidity provision opportunities.


  • Very low-interest rates when lending platform token MNGO.
  • Additional services increase usability – you can trade (on the spot and futures market) or still save assets taken to earn passive income.
  • No additional fee for borrowing. Lend at 0%. Withdraw at 0%.


  • High loan interest rates of 50%+ for some tokens.
  • Very few tokens are supported for lending.

Lending Rate: 0.12% to 59.00%.

Website: Mango V3

#15) MoneyToken

Best for zero-interest loans for members.

 MoneyToken - Crypto Lending Platforms

MoneyToken provides loans, asset management, exchange, and over-the-counter trading services. Customers can also earn up to 10% interest by lending their cryptocurrencies on the platform. With the platform, borrowers get loan interest rates from 10%.

How lending works on MoneyToken:

  • Sign up and log in. Select loan terms. Fill in the details of the loans.
  • Set the loan amount, duration, credit currency, and loan-to-value ratio.
  • Accept the terms and proceed to deposit collateral.
  • You will then receive credit funds to the digital wallet or bank account.

Cryptocurrencies Supported: BCH (ABC), ETH, BTC, and BNB for collateral and take loans in the form of USDT and DAI.


  • Buy membership packages that last for a month each, and enjoy 0% interest loans. Packages are launched once every 1-2 months.
  • Become a lender by depositing as low as 100.00 USDT or BTC/ETH equivalent.
  • Use IMT platform tokens to reduce loan interest rates only for loans up to 10,000 USDT. You can pay up to 60% of the interest in IMT at a rate of $0.05 per token.
  • Other products include long trading, margin trading, short trading, etc.


  • 0% interest rate for those buying membership packages. Low-interest rates for those using IMT tokens to repay loans of up to 10,000 USDT.
  • Earn interest by depositing as low as $100.
  • Other products like margin trading, swapping crypto, and OTC (crypto-to-crypto and crypto-fiat exchange with a minimum of $100,000).


  • High-interest rates from 10%.
  • Very few cryptos for lending.

Lending Rate: from 10%.

Website: MoneyToken

#16) BlockFi

Best for low-interest borrowing on popular tokens BTC, ETH, and LTC

BlockFi - Crypto Lending Platforms

BlockFi lends at as low as APR of 4.5%. However, you can borrow up to 50% of the value of your crypto. You can borrow personalized loans of over $50,000. For all loans, the USD will be sent to the bank within 90 minutes. Institutions can also get loans, including crypto mining loans.

How lending works on BlockFi:

  • Sign up and apply for a loan. Fill in the details and submit the application.
  • The team will review and offer loan terms.
  • Accept the terms and send collateral.
  • The loan has been sent to your bank.

Cryptocurrencies Supported: including Bitcoin, Litecoin, Ether, and PAXG.


  • Also, trade crypto and earn up to 15% APY interest on deposited crypto on the platform. Interest accrues daily, but is paid monthly.
  • Transfer USD by linking your bank, wire, crypto, or stablecoin.
  • Android and iOS apps.
  • Crypto trading.
  • BlockFi Visa purchase rewards card. Earn 1.5% back.
  • Custom crypto interests for high-net-worth people and institutions; and custom trading spreads. Mining loans are available for miners.


  • Earn up to 15% APY on your crypto deposits.
  • Crypto loan deposited in the bank.
  • Customized loans for high net worth individuals and companies.


  • Up to 50% of the value of your crypto.
  • High-interest rates.
  • High minimum loan limits – $10,000.

Lending Rate: From 4.5%

Website: BlockFi


Crypto lending platforms can give loans of as low as 0% to 1% for membership packages and when using other offers like reducing interests by repaying with their platform tokens. This tutorial suggests looking out for those offers. The best way to keep crypto or flash crypto loan interest down to below 4% is to keep down the LTV to about 25%.

Most platforms do not support a huge range of crypto tokens for keeping as collateral and that is the greatest problem. CoinRabbit, Aave, Compound.finance, Alchemix, YouHolder, and Nexo tend to solve this problem to a large extent.

The best lending platforms for borrowing mainstream cryptocurrencies like Bitcoin, Ethereum, Litecoin, XRP, etc. at manageable loan interest rates include BlockFi, Mango Markets, and Nexo (when holding 10% of Nexo tokens as portfolio or collateral).

Celsius.Network and CoinLoan also offer good deals on BTC, ETH, and LTC, when using CEL and CLV tokens respectively for repayment.

Alchemix, Compound.finance, and Abracadabra are best for Ethereum-based and DeFi tokens. Some of these offer interest-earning opportunities on deposits even as you take loans. You can thus reduce those interests paid.

Research process:

  • Total crypto lending apps/websites initially considered for review: 20
  • Crypto lending apps/website reviewed: 14
  • Time taken to research and write this review: 30 hours.
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