5 best crypto lending platforms

First of all, crypto lending platforms provide two key services. Staking crypto to earn interest and depositing crypto for instant loans. 

Crypto loans differ from that of regular financial institutions. With banks, you need to provide proof of regular income and borrow against your future revenue. 

Crypto loans, on the other hand, are over collateralized. In other words, crypto that is in excess of the requested loan is deposited as collateral.

Thus, crypto lending platforms will only lend you a percentage of the amount the collateral is worth. 

The reason why you only get a percentage of your collateral’s full value is due to the volatility of the crypto market. 

Basically, the loan is good as long as it’s over collateralized. However, if the value of your collateral drops too much, then it will be sold to cover the outstanding value of the loan.

Advantages of crypto lending platforms

Crypto loans require no credit history checks and are normally instantly approved. Furthermore, there is no need to fill out the endless forms that we have become accustomed to in banks.

Another reason people prefer instant crypto loans is that people want cash to spend today whilst retaining ownership of their crypto as they believe the price will go up. Moreover, crypto loans allow you to do exactly that since you to borrow against the value of your crypto.

And due to the decentralized nature of crypto lending platforms, they are used by some to defer taxes and crystallize gains in order to optimize their taxes.

Finally, users who have crypto lying around can earn a passive income by suppling crypto to lend out.

What to look for in crypto Lending platforms?

There are dozens of lending platforms around and it’s becoming increasingly difficult to establish the good from the bad.

Therefore, our in-depth review will analyze the main criteria to look for in a crypto loan platform.


The safety of your crypto assets is a primary concern. Therefore, it’s important to look at what security features the platform has in place.

Interest rates

First of all, for those looking to borrow a lower interest rate is naturally better. Whereas, lenders will want a higher interest rate to generate more passive income gains.


Flexibility is another important consideration and refers to the length of the loan, frequency of repayments, and penalties associated with late payments.

Supported cryptocurrencies

Crypto lending platforms have varying supported cryptocurrencies. While most support Bitcoin and Ethereum, theres an ever increasing number of platforms supporting stablecoins and alt coins.


Finally, many lending platforms have geo-restrictions. Thus, certain regions ma be prohibited from joining a lending platform.


BlockFi crypto loans

BlockFi is a privately held New York based crypto lending platform founded in 2017. The venture recently raised $18.3 million in financing during it’s series A funding round. Furthermore, the project received funding from prominent cryptocurrency investment funds such as,Velar Ventures, Galaxy Digital Ventures and Winklevoss Capital to mention a few.

And for those looking to supply crypto to earn interest then BlockFi has some of the most competitive rates around.

BlockFi crypto loan rates

When it comes to supported cryptocurrencies, Blockfi doesn’t have the best range out there. The platform currently only supports Bitcoin, Ethereum, Litecoin, and three stable coins.

Blockfi is also one of the safest lending platforms around since it uses the Winklevoss owned Gemini exchange as it’s primary custodian. And you need not worry about regulatory compliance since Gemini is a fully licensed custodian regulated by the NYDFS.

When it comes to getting a loan, you can supply Bitcoin, Ethereum, or Litecoin as collateral. The standard loan to value ratio is 50%. However, alternative loan to collateral rates are available if you contact support.

The minimum loan amount is $5,000 however the platform is more flexible when it comes to supplying crypto to earn interest. And you can supply any amount of cryptocurrency to start earning  a passive income.


crypto.com crpyto loan rates

The crypto.com platform has the sole purpose of accelerating the worlds transition to cryptocurrency. As a result, their crypto loans platform is readily accessible and easy to use. 

Crypto.coms lending feature allows you to lend out your cryptocurrency on the app to earn interest. It’s important to note that the lending rates vary depending on the cryptocurrency you supply, lending terms, and whether or not you have CRO staked or not.

If you are looking for the highest interest rates going then you can supply CRO on the crypto.com earn platform for 3 months. Furthermore, if you do so while staking 5,000 or more CRO tokens and you’ll receive 18% interest per year.

The crypto.com app gives you three different options when it comes to the length of the loan. 

First of all, the flexible option provides a low-risk savings solution that allows you to test out the platform and withdraw your holdings at any time with no penalty fees. Furthermore, if you choose to lock your assets up for 1-month fixed terms you will receive an even higher interest rate. And to get the maximum interest rate you must be willing to commit your holdings to be locked up for 3 months.

The platform offers instant loans with a loan to value ratio of 50% payable in Paxos, Tether, USD Coin, and True USD. Credit duration is 12 months and interest rates start at 12% per annum.

With regards to security, Crypto.com has a cold storage policy with 100% of user cryptocurrencies held offline in cold storage. In addition, Crypto.com also has a strategic partnership with Ledger to leverage additional security protocols. And for further protection, the platform has secured a $360 million insurance policy to protect users against security breaches.


Nexo crypto lending platform

Nexo is a subsidiary of a company called Credissimo who have been in business since 2007. Thus, Nexo is backed and operated by a company with a long track record in the lending space. 

Since its launch in 2018, Nexo has proven to be very popular crypto lending platform with more than $1.5 billion dollars processed for over 550,000 users.

Base interest rates are as high as 8% for stablecoin assets. It’s important to note that you have at least  10% of the holdings in your savings wallet in Nexo tokens. Then you will get that interest rate bumped up to 10%

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Stellar and Chainlink are all supported and you can earn a base interest rate of 4%. This can be topped up to 5% for holding NEXO tokens.

Nexo has not experienced any known security breaches or any significant loan defaults. Additionally, users assets are insured for up to $100 million by their audited custodian BitGo. 

Nexo is also one of the most flexible crypto loan platforms when it comes to supplying crypto to earn interest and with no minimum lock up period requirement. 

Furthermore, the platform supplies an extensive range of assets you can use as collateral. In addition to this, you can use a blend of different cryptocurrencies as collateral.

The platform’s loan amounts range from $500 to $2 million. Additionally, loan to value ratios ranges from 20% to 50% of the assets deposited. And you typically pay a rate of 5.9% APR. However, the rates will vary according to the loan deals you want.

If you are looking for a solid rate of interest and the flexibility to withdraw funds at any time then Nexo is a top choice.

Celsius Network

Celsius was established in 2017 and currently boasts over 133,000 active users with over $850 million in assets. Furthermore, their crypto lending platform has facilitated over $8 billion dollars in loan originations’.

The platforms’ interest rates are very competitive and you can earn higher interest rates if you choose to earn interest in Celsius’s CEL token. 

Crypto loans

Additionally, you can also lend out True Great Brition Pound, True Australian Dollar, True Canadian Dollar and True Hong Kong Dollar. 

With regards to security, there has been no reported data breaches and users funds are insured for up to $100 million by BitGo. And in the event of a hack, Celcius will use its own balance sheets to recover the costs.

Celcius is extremely flexible with no minimum deposit amount. Furthermore, there are no deposit, withdrawal, transaction, origination or early withdrawal fees. 

Celcius is extremely flexible with no minimum deposit amount. The minimum loan is $1,000 and you can choose a loan to value ratio of 25%, 33%, or 50%. Furthermore, there are no deposit, withdrawal, transaction, origination, or early withdrawal fees. 

With a loan to value ratio of 25%, you can get an APR as low as 1% if you pay the interest in fiat and an incredible 0.7% if you pay in CEL tokens.


Unlike the other platforms on the list, Aave is a decentralized crypto lending platform. In fact, it was the first decentralized DEFI protocol when it launched its mainnet back in 2017.

When it comes to interest rates for passive income hunters then Aave doesn’t offer the highest rates. However, you can get a very competitive 10% interest on True USD.

Also, since Aave is a crypto only platform so you can’t use it to get a fiat loan. Although, you can loan stable coins and convert them to fiat on an exchange.

Aave lets users borrow and loan cryptocurrencies in a completely decentralized and trust-less manner. And since there is no middleman, no KYC, and no AML documentation required, your personal data cannot be stolen. And another benefit of Aave is you retain control over your private keys at all times. 

When it comes to flexibility, Aave is the most flexible platform on the list. If you are looking for a crypto loan you can borrow anywhere from 50% – 75% of the value of your collateral.

Passive income investors can choose between two interest rates. The first being a variable rate that is decided algorithmically or you can opt for a stable rate. Additionally, you can switch between the stable and variable rates whenever you want.

Finally, flash loan is a great feature that isn’t available on other crypto lending platforms. Essentially, users can borrow large amounts of crypto with no collateral.

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