[2020] How to Get Bitcoin or Crypto Loans Without Collateral?

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Are you looking for an Instant Bitcoin loan with no collateral and no verification?

Well, you are in the right place !!

First things first let me make thing one thing clear:

There is no such thing as Bitcoin loans or crypto loans without collateral or no verification.

Surprised?

If you are, you shouldn’t be because that will be too good a deal to be true.

Chances are someone is trying to scam you, if they are presenting any deal on similar lines.

I have been into this industry from the past three years almost and 100% of the time such fairy tale deals have proven to be shady or scammy.

So stay away from them.

What you should do next is to find out the right Bitcoin loan and crypto loan companies who will keep your cryptocurrencies as collateral to give a fair amount of loans.

This way, you will not part away from the future value appreciation of your digital assets and at the same time, get the much-required loan to meet your needs.

It is simple, when you have the money, return it and get your cryptocurrencies or Bitcoin whatever you have kept as collateral back.

I have done some homework on your behalf. Here are some of the companies that you can try to get Bitcoin and crypto loans if you are already holding

Instant Bitcoin Loan Without Collateral

If you have Bitcoin or any other cryptocurrency, this is the best place to land for an instant Bitcoin or crypto loan. Make sure to keep your crypto wallet as well as your photo ID proofs handy.

Product Name Quick Links
BlockFi Crypto Loans [Supports USA & UK] Check Now
BlockFi Savings Account [Supports USA & UK] Check Now

BlockFi [Best For US Customers]

BlockFi is a serious crypto lender operating since 2018 from the US.

The company started slowly and now has good venture funding backing it. But this also doesn’t believe in providing Bitcoin loans without collateral.

Their operations are mainly centered in the US and their services are available in the following states: AL, AR, AZ, CA, CO, DC, DE, IA, IL, IN, KS, KY, MA, MD, ME, MI, MN, MS, NC, NE, NH, NJ, OH, OK, OR, PA, SC, TN, TX, UT, VA, WA, WV

They issue loans with an LTV of up to 50% and the minimum loan amount is $5000, which means you have to keep collateral of worth of $10,000 in crypto at the current LTV.

They have recently removed their organization and withdrawal fees to make it more attractive for crypto holders to keep their cryptocurrencies as collateral to get loans, instead of selling them right away.

They also provide a BlockFi savings account and you can expect an interest rate of up to 8.6% through it. Interest accounts are unavailable in CT and NY, plus add atleast $100 in their savings account to expect any decent income.

The process is simple, just go to BlockFi.com and sign-up using your email. Complete your KYC and post that deposit your crypto in their wallet to be used as collateral. Once applied from your end and approved from BlockFi, you will get cash or crypto loans as per your chosen criteria.

Borrow Bitcoin Without Collateral

Borrow money for bitcoin is common but borrowing money in Bitcoin without any collateral isn’t that easy !!

Oh yes, there is one company that gives you loans without any collateral in Bitcoin and other cryptocurrencies.

Of course, they are not a scam, but they don’t provide loans for Bitcoin. Instead, they use Bitcoin’s blockchain for processing their loan payments. They work like a traditional financier where your other documents are checked to know your creditworthiness.

So there is a subtle difference between borrowing money against Bitcoin and getting loans funded in Bitcoin. Bitbond does the later whereas BlockFi does the former.

If you are from the USA, you can try BlockFi for your crypto loans and crypto savings account.

I hope now you are clear and would like to ponder upon this idea of not selling your crypto holdings and instead collateralize it to get instant loans.

Last but not least, you need to go through the KYC process on all such crypto collateralized lending platforms. There is no way of getting around it. I think it is sensible to do so also because you will have much need proof in case something goes wrong.

Adios !!

Sudhir Khatwani

Hey there! I am Sudhir Khatwani, an IT bank professional turned into a cryptocurrency and blockchain proponent from Pune, India. Cryptocurrencies and blockchain will change human life in inconceivable ways and I am here to empower people to understand this new ecosystem so that they can use it for their benefit. You will find me reading about cryptonomics and eating if I am not doing anything else.

3 thoughts on “[2020] How to Get Bitcoin or Crypto Loans Without Collateral?”

  1. What the hell is the fucking point of even taking a damned loan if you have to pay more into the collateral than the goddamn loan amount itself ? Since at that point you already have the money to use for whatever, so why lock them away for a smaller amount that comes with fees and interest.

    The whole point of a loan is to buy something that you don’t have the money for, and pay the loan back with a amount and timeframe that fits your economy/income.

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