Independent Comparison of Crypto Lending Platforms
We reviewed 8 crypto lending platforms across 50+ criteria — interest rates, maximum LTV, custody model, KYC requirements, and security track record. All data is verified against primary sources.
Platform comparison
Sorted by overall score. Click any row for the full review.
| Provider | Type | Interest Rate | Max LTV | KYC | Custody | Score | |
|---|---|---|---|---|---|---|---|
| Aave Top pick | DeFi | 2% – 15% | 82.5% | None | Self-custody | 8.8 | Review → |
| Nexo Top pick | CeFi | 2.9% – 13.9% | 80% | Required | in-house | 8.5 | Review → |
| Ledn | CeFi | 12.4% – 13.9% | 50% | Required | Third-party | 8.2 | Review → |
| MakerDAO (Sky) | DeFi | 4% – 8% | 77% | None | Self-custody | 8.0 | Review → |
| Compound | DeFi | 2% – 12% | 83% | None | Self-custody | 7.8 | Review → |
| YouHodler | CeFi | 3% – 26% | 97% | Required | in-house | 7.8 | Review → |
| Unchained Capital | CeFi | 14% – 16% | 40% | Required | Collaborative | 7.5 | Review → |
| CoinRabbit | CeFi | 12% – 17% | 70% | None | Third-party | 7.0 | Review → |
Compare by what matters to you
Each comparison focuses on a specific borrowing criteria.
How crypto-backed loans work
The basic mechanics — for borrowers evaluating their first loan.
Deposit collateral
Lock BTC, ETH, or other supported assets into the platform's custody or a smart contract. The value of your collateral determines how much you can borrow.
Receive your loan
Get stablecoins or fiat based on your chosen LTV ratio. Lower LTV means lower liquidation risk and often a lower interest rate. Higher LTV gives more cash but less buffer.
Repay and reclaim
Pay back principal and interest to unlock your collateral. If your collateral value drops below the liquidation threshold, the platform sells it to cover the loan.
Estimate your loan before you borrow
Live crypto prices, liquidation simulator, and smart platform matching — see exactly what your loan will cost.
Research & guides
In-depth analysis written for borrowers — with worked examples and honest risk assessment.
How Crypto Loans Work: The Complete 2026 Guide
Collateral, LTV, liquidation, CeFi vs DeFi, interest rates, risks, and taxes. A 15-minute read with worked examples throughout.
DeFi Lending vs CeFi Loans: Trade-offs Explained
Self-custody vs custodial, variable vs fixed rates, smart contract risk vs counterparty risk. What the data shows.
What Is Liquidation & How to Avoid It
How liquidation triggers, what the cascade looks like, and specific strategies to protect collateral in volatile markets.
No-KYC Crypto Loans Explained
Where to borrow without identity verification, how DeFi vs no-KYC CeFi compares, and the real trade-offs in privacy.
How we evaluate platforms
One consistent framework applied to every provider we review.
Scoring criteria
Each platform is scored on four weighted pillars. The overall score is a composite — not an average — so a serious weakness in one area can't be hidden behind strong performance elsewhere.
Independence
Some links on this site are affiliate links — we earn a commission if you sign up, at no cost to you. Rankings are determined entirely by our scoring model, not by affiliate arrangements.
Frequently asked questions
What is a crypto loan? +
A crypto loan lets you borrow cash (USD, EUR, or stablecoins) by using your cryptocurrency as collateral. You keep ownership of your crypto — if you repay the loan, you get it back. If the value of your collateral drops too far, the lender may liquidate (sell) it to cover the loan.
How do crypto loans work? +
You deposit cryptocurrency as collateral with a lending platform. Based on the loan-to-value (LTV) ratio, you receive a loan in fiat or stablecoins. You pay interest on the loan and repay it over time. Once repaid in full, your collateral is returned. If your collateral value drops below a threshold, the platform may liquidate it.
What is LTV (Loan-to-Value) in crypto lending? +
LTV is the ratio of your loan amount to the value of your collateral. For example, if you deposit $10,000 in Bitcoin and borrow $5,000, your LTV is 50%. Lower LTV means less liquidation risk but less borrowing power. Most platforms offer 50-80% LTV.
What happens if my crypto collateral drops in value? +
If your collateral value drops and your LTV exceeds the platform's liquidation threshold, the platform may sell some or all of your collateral to repay the loan. This is called liquidation. Many platforms send margin call warnings before liquidating, giving you time to add more collateral or repay part of the loan.
What is the difference between CeFi and DeFi crypto loans? +
CeFi (Centralized Finance) loans are offered by companies that custody your assets and handle the lending process. They typically require KYC and offer customer support. DeFi (Decentralized Finance) loans use smart contracts on blockchains — no KYC needed, you keep custody of your keys, but there's no customer support if something goes wrong.
Not sure where to start?
Our complete guide covers how crypto loans work, what to watch for, and how to choose the right platform.