Best Bitcoin Loan Platforms in 2026

Centralized Finance (CeFi) platforms offer traditional service with customer support: **Ledn** - Max LTV: 50% - Interest rates: 9-12% APR - Liquidation threshold: ~80% - Strengths: Transparent proof of reserves, Bitcoin-focused, strong reputation - Considerations: Lower max LTV than some competitors **Nexo** - Max LTV: Up to 50% for instant loans - Interest rates: 6-16% APR (varies by tier) - Liquidation threshold: ~83% - Strengths: Multiple crypto collateral options, loyalty token benefits - Considerations: Token-dependent rate structure **Unchained** - Max LTV: 40% - Interest rates: 12-14% APR - Liquidation threshold: ~65% - Strengths: Multisig custody (you hold keys), US-regulated - Considerations: Lower LTV, higher rates for safety features **Salt Lending** - Max LTV: Up to 70% - Interest rates: 7-13% APR - Liquidation threshold: ~90% - Strengths: Higher LTV available, established platform - Considerations: Higher LTV = higher risk Each platform has trade-offs between max LTV, rates, and security model. Your choice depends on priorities.

Decentralized Finance (DeFi) offers non-custodial borrowing: **Aave (via Wrapped Bitcoin)** - Max LTV: Up to 70% - Interest rates: Variable (currently 3-8% APR) - Liquidation threshold: ~80% - Strengths: Non-custodial, transparent, variable rates can be lower - Considerations: Requires wrapping BTC, smart contract risk **Compound** - Max LTV: Up to 65% - Interest rates: Variable (similar to Aave) - Liquidation threshold: ~75% - Strengths: Established protocol, governance token - Considerations: Same wrapped BTC considerations **MakerDAO** - Max LTV: Up to 67% - Interest rates: Stability fee (variable) - Liquidation threshold: ~67% - Strengths: Battle-tested, DAI stablecoin - Considerations: Requires wrapping BTC (WBTC) **DeFi considerations:** - Non-custodial = you control keys, but also full responsibility - Smart contract risk exists (hacks have happened) - Gas fees on Ethereum can be significant - More technical knowledge required - No customer support—community help only

Quick comparison of key metrics: | Platform | Type | Max LTV | Rate Range | Liquidation | Custody | |----------|------|---------|------------|-------------|---------| | Ledn | CeFi | 50% | 9-12% | ~80% | Custodial | | Nexo | CeFi | 50% | 6-16% | ~83% | Custodial | | Unchained | CeFi | 40% | 12-14% | ~65% | Multisig | | Salt | CeFi | 70% | 7-13% | ~90% | Custodial | | Aave | DeFi | 70% | 3-8% | ~80% | Non-custodial | | Compound | DeFi | 65% | 3-8% | ~75% | Non-custodial | | MakerDAO | DeFi | 67% | Variable | ~67% | Non-custodial | **Note**: Rates and terms change frequently. Always verify current terms directly with platforms before committing.

Match your priorities to platform strengths: **If security is #1 priority:** → Consider Unchained (multisig, you hold keys) → Or DeFi options (non-custodial) **If you want lowest rates:** → Compare current DeFi rates (often lower) → Check Nexo if you hold their token → Rates fluctuate—check at time of borrowing **If you want highest LTV:** → Salt offers up to 70% → DeFi options go higher → Remember: higher LTV = higher risk **If you want simplicity:** → CeFi platforms offer better UX → Ledn and Nexo have clean interfaces → Customer support available **If you're in the US:** → Unchained is US-regulated → Check platform availability in your state → Some platforms have state restrictions **If you want customer support:** → CeFi only—DeFi has no support → Ledn and Unchained known for good support → Check reviews for response times

Your collateral's safety is paramount: **CeFi Security Factors:** - Proof of Reserves (does platform publish?) - Insurance coverage (what's covered?) - Regulatory compliance (which jurisdictions?) - Track record (any hacks or issues?) - Company financials (are they profitable/stable?) **DeFi Security Factors:** - Smart contract audits (how many, how recent?) - Time in production (battle-tested?) - Total Value Locked (TVL indicates trust) - Bug bounty programs - Governance structure **Red flags to watch:** - Unusually high yields (if it seems too good...) - Lack of transparency about reserves - No audit reports - Recent security incidents - Aggressive marketing with pressure tactics **2022-2023 lessons:** The collapses of BlockFi, Celsius, and Voyager showed that even large platforms can fail. Prioritize platforms with: - Transparent proof of reserves - Conservative business models - Regulatory compliance - Long track records Your Bitcoin deserves safe custody.