Crypto-backed loans can provide liquidity without requiring you to immediately sell Bitcoin, Ethereum, stablecoins, or other digital assets. Instead, eligible cryptocurrency is pledged as collateral while the borrower receives fiat or stablecoin funding.

In 2026, borrowers have several choices across centralized finance (CeFi) and decentralized finance (DeFi). Current industry reviews highlight platforms such as Binance Loans, Crypto.com, YouHodler, CoinRabbit, Unchained, Nexo, Ledn, Figure, SALT, Aave, Compound, and Alchemix.

Because rates, eligibility, and collateral requirements can change, borrowers should check the provider's current terms before depositing assets.

These are comparison categories rather than financial recommendations.

1. Aave

Aave is one of the most established DeFi lending protocols. Borrowers supply supported crypto assets as collateral and borrow other supported assets through smart contracts.

Aave's major appeal is its non-custodial, on-chain structure. Its risk parameters, including maximum LTV and liquidation thresholds, are asset-specific and visible on-chain. A current 2026 comparison lists examples such as approximately 73% maximum LTV for WBTC and 75% for USDC in the cited markets.

Best suited for: Experienced DeFi users who understand wallets, variable interest rates, and liquidation.

2. Compound

Compound is another established DeFi money-market protocol. It provides smart-contract-based borrowing against supported collateral.

Current comparison data places Compound among the main DeFi alternatives to Aave, with variable rates and asset-specific collateral factors.

Potential advantages: On-chain transparency, no traditional credit application, and multiple supported markets.

Main risks: Smart-contract vulnerabilities, variable rates, liquidation, oracle risk, and blockchain fees.🔔 OmniLender Support

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3. Nexo

Nexo offers centralized crypto-backed credit lines. Current 2026 comparison sources list rates from roughly 1.9% to 17.9%, depending on factors such as collateral, account tier, and product. Nexo supports a broad range of digital assets, while LTV varies by asset.

Its current U.S. lending offering also advertises rates starting at 0.9% for certain eligible conditions.

Best suited for: Borrowers who prefer a centralized platform and flexible credit-line structure.

4. Ledn

Ledn is focused on Bitcoin-backed borrowing. Current 2026 comparisons list 9.25%–11.49% fixed rates, a 50% maximum LTV, BTC-only collateral, and a $500 minimum loan.

The Block also reports that Ledn's Bitcoin-backed loans use a 50% initial LTV and that the platform says collateral is not rehypothecated.

Best suited for: Bitcoin holders who want a straightforward BTC-backed financing structure.

5. Unchained

Unchained specializes in larger Bitcoin-backed loans. Current comparison data lists 14%–16.21% APR, a 50% maximum LTV, BTC-only collateral, and a $150,000 minimum loan.

One of its main distinguishing features is collaborative custody: the borrower, Unchained, and an independent third party each hold a key in a 2-of-3 multisignature structure.

Best suited for: Eligible borrowers seeking larger Bitcoin-backed financing.

6. Binance Loans

Binance Loans can be particularly convenient for existing Binance users who need relatively small, flexible collateralized loans. A January 2026 review lists a minimum equivalent loan amount of approximately $1 and describes repayment as flexible.

The same source lists numerous supported borrowing and collateral assets, although eligibility is region-dependent.

Best suited for: Existing eligible Binance users prioritizing convenience.

7. Crypto.com

Crypto.com offers lending and borrowing products within its broader cryptocurrency ecosystem. Current 2026 reviews identify it as an option for users who prefer app-based access to crypto lending.

Its appeal is convenience, especially for users already managing crypto through the platform.

Before borrowing, compare the specific interest rate, LTV, collateral requirement, liquidation rules, and geographic availability.

8. YouHodler

YouHodler is positioned toward smaller borrowers seeking a fintech-style interface. Current 2026 reviews identify it as a platform for smaller borrowing needs and note that it can offer relatively high LTVs depending on the collateral and product.

A separate 2026 rate index lists maximum LTVs of up to 97% for some YouHodler products, highlighting why borrowers should examine the exact asset-specific terms rather than assuming one LTV applies everywhere.

Best suited for: Smaller borrowers looking for a straightforward centralized borrowing experience.

9. CoinRabbit

CoinRabbit focuses on fast, relatively low-friction crypto-backed borrowing. Current 2026 reviews identify it as an option for borrowers who prioritize speed and convenience.

The trade-off can be higher borrowing costs or less favorable terms than some alternatives, so borrowers should carefully compare the total cost before committing collateral.

Best suited for: Borrowers prioritizing speed and convenience.

10. SALT Lending

SALT is a centralized crypto-lending provider focused on structured crypto-backed loans. Current 2026 comparisons list it as an option for borrowers who want published LTV ceilings and term-based lending structures.

Best suited for: Borrowers who prefer a more conventional, structured lending arrangement.

What to Compare Before Borrowing

The lowest APR is not necessarily the best loan. Compare the complete structure.

Interest Rate

Find the actual rate that applies to your collateral, loan size, account tier, and location. CeFi rates may be fixed or tiered, while DeFi rates can change with market utilization.

LTV

Loan-to-value is calculated as:

LTV = Loan Amount ÷ Collateral Value × 100

For example, if you deposit $20,000 in BTC and borrow $8,000:

$8,000 ÷ $20,000 = 40% LTV

If the collateral later falls to $12,000, the same $8,000 debt represents approximately 66.7% LTV.

A higher LTV can provide more liquidity, but it leaves less room for a market decline.

Liquidation Rules

Before borrowing, determine:

• Initial LTV

• Margin-call threshold

• Liquidation threshold

• Liquidation penalty

• Additional-collateral requirements

• Partial versus full liquidation

Liquidation risk is one of the most important risks in crypto-backed lending.

Custody

Understand who controls your collateral.

Centralized lenders can hold collateral through custodians, while DeFi protocols use smart contracts. Unchained's collaborative multisignature model provides a different custody structure from ordinary centralized lending.

Rehypothecation

Check whether the platform can lend or otherwise reuse your collateral. This is an important distinction between lenders.

Ledn states that it does not rehypothecate collateral, while Unchained's multisignature arrangement is designed so no single party can move the Bitcoin independently.

Fees

Look beyond APR. Calculate:

Total borrowing cost = Interest + Origination/administration fees + Transaction costs + Other applicable charges

CeFi vs. DeFi

Centralized Platforms

Nexo, Ledn, Unchained, Binance Loans, Crypto.com, YouHodler, CoinRabbit, and SALT provide account-based lending experiences.

Advantages: Easier interfaces, customer support, and simpler account management.

Risks: Counterparty risk, custody risk, platform insolvency, regulatory restrictions, and geographic limitations.

Decentralized Platforms

Aave and Compound use smart contracts and on-chain markets.

Advantages: Transparency, self-custody-oriented structures, and automated lending.

Risks: Smart-contract vulnerabilities, oracle failures, variable rates, network fees, and automated liquidation.

Neither model is automatically safer; the specific provider and terms matter.

Bitcoin vs. Altcoin Collateral

Bitcoin has a wide range of specialized lending options. Altcoins may be supported by multi-asset lenders and DeFi protocols, but their LTVs and liquidation terms can differ substantially.

For altcoin collateral, pay particular attention to:

• Market liquidity

• Price volatility

• Asset-specific LTV

• Liquidation threshold

• Available lending markets

A high LTV that looks manageable for BTC could become much riskier for a volatile altcoin.

Crypto Loans for Trading

Using borrowed funds for trading adds another layer of risk.

Suppose you have:

• $20,000 crypto collateral

• $8,000 loan

• $8,000 used for trading

If the trade loses $2,000 while the collateral also falls, you face both a trading loss and increasing collateral risk. The loan remains payable regardless of trading performance.

Borrowing should therefore not be treated as guaranteed leverage or guaranteed income.

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Final Thoughts

10 Crypto Lending Platforms to Compare Before You Borrow gives borrowers a useful mix of centralized and decentralized choices.

Aave and Compound are relevant to experienced DeFi users seeking on-chain borrowing. Nexo offers flexible credit-line borrowing, Ledn specializes in Bitcoin-backed loans, and Unchained focuses on larger BTC financing. Binance Loans, Crypto.com, YouHodler, CoinRabbit, and SALT offer different centralized approaches suited to different borrowing needs.

Before committing collateral, compare actual interest rates, LTV, liquidation thresholds, fees, supported assets, custody, rehypothecation policies, repayment flexibility, security, loan size, and geographic availability.

Most importantly, don't choose a platform simply because it offers the highest LTV or lowest headline rate. A conservative LTV, transparent custody structure, manageable fees, and a repayment plan that remains workable during a sharp crypto-market decline are generally more important than maximizing borrowing capacity.