Best Crypto Lending Platforms To Use In 2020

There are as many opinions in crypto as many people involved.

Some say cryptocurrencies like Bitcoin and others are only suitable as a store of value while some see them only as a medium of exchange.

But nothing becomes a store of value just like that !!

It takes time, and it takes a long time.

But in today’s hyperconnected world you can comfortably assume that 10 years more should be enough for cryptocurrencies like Bitcoin to be considered as a store of value.

10 years is still long for some of us, but the good thing is that some usecases like the medium of exchange, lending, borrowing, refinancing, cash-backs, insurance can be done right now !!

This arm of decentralized cryptocurrencies is called decentralized finance (DeFi)

Amongst this, crypto lending is the most exciting. If you want to know what they are and how do they work,  directly JUMP to this section??

Otherwise, just explore this list of popular crypto loan programs:

Top Cryptocurrency Lending Platforms & Sites of 2020

Best Crypto Lenders
YouHodler [Recommended, Non-US] Get Loan Now
Celsius [For US Customers] Get Loan Now
BlockFi Get Loan Now
Salt Lending Get Loan Now

  #1. YouHodler

Member of the Crypto Valley Switzerland, YouHodler is revolutionalizing cryptocurrency-backed loans forever.

It has recently started getting a lot of traction from countries around the world and since then have processed more than $10 million in loans.

It gets better when you get to know that YouHodler now supports popular 12 cryptocurrencies including Bitcoin (BTC), BCH, ETH, LTC, XLM, XRP, DASH, etc which can be kept as collateral to get cash loans and cryptocurrency loans in EUR, USD, USDT or in BTC

And the product is truly for the people who are unbanked and goes on to provide loans as low as $100 for a period of maximum 120 days which is a lot in certain countries.

Also, their Loan-To-Value (LTV) is the highest in industry and using YouHodler you can get lending of up to 90% LTV.

With YouHodler you can get a loan for amount as low as $100 and higher using this promo linkNote: US & China users not allowed yet !! Use BlockFi instead for US Customers.

Check Out YouHodler

#3. Celsius Network

Getting cryptocurrency loans is becoming the new normal and leading in it are companies like Celsius Network. It is a digital assets lending platform that has already made cryptocurrency loans worth $100 million.

The goal is, of course, to give banking and finance facilities through blockchain which are otherwise denied such services by traditional means.

You get cash loans for collateralizing your cryptocurrencies and those with extra cash/cryptos get high-interest rates upto 10% for depositing the same with Celsius.

It is a win-win both for borrowers and lenders as borrowers get the money they want without partying away from their cryptocurrencies and lenders earn interest on their coins.

At Celsius, you can expect annual rates from 5% to 10% depending upon your collateral and can get loans up to tenure of 1 year at an LTV of up to 50%.

Try Celsius Network Now

#4. BlockFi

BlockFi is another US-based pioneer company that is giving crypto collateralized loans to its users around the US. The operations are majorly centered in the USA and the company has been getting good traction since 2018.

Users can borrow as low as $5000 with an LTV of up to 50%.

BlockFi recently ended its origination and withdrawal fees making it worthwhile for many crypto users who have smallholdings. They also provide a BlockFi savings account and you can expect an interest rate of up to 8.6% through it.

To be able to use BlockFi you need to have atleast $5000 or more in crypto, and currently, BlockFi is available throughout the US except (NV, SD, VT or HI).

Try BlockFi Now

#6. Salt Lending


Salt Lending is another pioneering company in the area of crypto lending and believes in urging its users to HODL crypto and instead take loans against it.

The company is operating since 2016 but it was only in the bear market of 2018 it really started getting a lot of traction. As of now, through the Salt Crypto Lending platform, you can get a credit of 30-70% LTV up to a period of 12 months.

But the minimum loan amount is $5000 with no origination or prepayment fees and when you lend you can expect interest rates return to be up to 5.95%.

Salt Lending

What Are Crypto-Backed Loans & How Cryptocurrency Loan Works?

Cryptocurrency loans, as its name signifies are the loans that one can take-up against the cryptocurrencies that one holds. In this type of loan, the crypto you own acts like collateral, and you can then borrow money in USD, EUR or a stablecoin in some ration of the value of your collateral.

The best thing about cryptocurrency loans is that you don’t need a credit history, or a bank account or a FICO score to get your loans.

A lot of paperwork and operational work is also discounted in cryptocurrency loans. That’s why cryptocurrency loans are very easy and almost instantaneous to get.

So basically here how they work:

The cryptocurrencies (like BTC, ETH or XRP) that you own needs to be collateralized with as much personal information that you can provide to a crypto loan platform.

Once you do that all these crypto lending platforms have different LTV ratios set to provide you a loan. So for example, if the LTV is 50 % and you have collateralized 20,000 USD worth of crypto, then you are entitled to borrow up to USD 10,000.

Plus for the borrowed $10,000 you need to pay the interest rate that you have agreed with the platform or the lender. For example, if you have agreed for a 5% annual interest rate, you will be required to pay $500 annually for borrowing $10,000 against your original collateral of $20,000.

Now, let say after six months of your borrowing, the total worth of your cryptocurrencies has increased to $40,000 and this now makes you eligible for more $10,000.

This happens because the total value of your line of credit has increased due increase the value of your collateral. But be aware that the vice-versa is also true !!

This is also called, the instant crypto line of credit.

Why Would One Want To Lend Crypto When They Have Cryptocurrencies?

This was the first question that arose in my mind when I listened about the concept of crypto-backed loans for the first time.

Of course, this should be your question too, because it is obvious that people holding crypto can simply sell their crypto to get the money they want instead of taking a loan on it.

Upon further digging, I could find out that these people who need loans despite HODLing crypto are those people who need liquidity without selling their cryptocurrencies.

They want the extra money to pay for their bills or for another investment without giving up their advantage of holding cryptocurrencies.

And the concept of crypto loans (or bitcoin loans) makes that possible, and that’s why you will find crypto lending programs that I have listed above doing well in the bear market also.

Some Frequently Asked Questions Interest and Loan Assets…

What is Crypto Lending & Lending Platforms?

  • Lending cryptocurrency so as to earn interest in your ideal lying cryptocurrencies is called Crypto lending. One can lend assets like Bitcoin, Ethereum, Ripple, Litecoin, etc easily to earn extra money through interest. The places where one is able to loan or borrow are called crypto lending platforms.

Can You borrow Crypto?

  • Yes, anyone can borrow crypto too but the interest rates of doing are usually high. This is mostly done by experienced players to gain leverage over their trades.

What is Crypto Credit?

  • When one keeps crypto assets like Bitcoin, Ether, Ripple as collateral for loans, what one is effectively doing is opening a crypto credit line collateralized against the value of your cryptocurrencies.

So that’s all from me in this introductory guide on crypto loans and crypto lending platforms.

Hope to hear from you soon, once you have tried these platforms. Personally, I am trying Nexo and another India based lending platform.

I will soon share my experience with you !!


  1. Thanks for your beautiful write up on crypto borrowing. At the same time, I would like to sound you about Youhodler another block chain lending platform. What’s your impression about this lending platform. Thanks

      1. Hi Sudhir!

        Thank you for great blog on 5 best cryptocurrency lending platforms. This was very valuable to me as I was only familiar with Nexo and did not know about the other ones.

        One thing I like to bring up is that there is far more than just “liquidity” as a reason to taking out loans against cryptocurrency collateral.


        1) If I SELL cryptocurrency to get $$$, I incur about 40% taxes on capital gain made. If I take a loan against cryptocurrency collateral, I pay 0% taxes, but still get the $$$ I need ( and as you said, I still have all of my cryptocurrency)! So why would you sell cryptocurrency and incur taxes when you can keep your cryptocurrency, pay NO taxes but still get your $$$?

        2) At Nexo (I’m only familiar with Nexo) you can get a loan in STABLECOIN (such as USDT) against cryptocurrency collateral. You can then send these stable coins to your account at a cryptocurrency exchange and with it, buy MORE cryptocurrency. Therefore, by taking out loans against cryptocurrency collateral, you not only can get $$$ without selling your cryptocurrency [as in 1) above] but you can even INCREASE your cryptocurrency holdings!!!


        With these obvious advantages it is easy to predict that more and more investors will take out more and more loans against their cryptocurrency collateral.

        This predicts that less and less investors will sell cryptocurrency.

        This predicts an incredible price boom of cryptocurrency as less and less investors are willing to sell their cryptocurrency but instead buy more cryptocurrency with loans against their cryptocurrency collateral.

        This predicts that more and more people will get into (buy) cryptocurrency as they see price of cryptocurrency rocket.

        This predicts that price of cryptocurrency will rocket even more and faster.

        This predicts that cryptocurrency will move into global acceptance and adoption.

        This predicts that the price of cryptocurrency could easily increase a 1000 to a 1000000 times from what it is now.

        This shows that loans against cryptocurrency collateral are really the KING PIN which will usher in an unbelievable price increase and global adoption of cryptocurrency.


        Please be so nice and send me an email so we can stay in touch directly.

  2. Great write-up of Youhodler. I have used your link and hopefully you can get some commission from it. I plan on opening a loan proper within the next three months. Cheers.

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