Best Bitcoin Lending Platforms in 2026
The Bitcoin lending market looks very different to what it was in 2022. Several platforms have failed, new ones have launched, and the survivors have generally become more transparent about custody and reserves. Here is a full look at the active platforms in 2026.
How we evaluated each platform
The comparison covers: interest rates (APR), custody model, KYC requirements, loan minimum, maximum LTV, available loan currencies, and notable features or limitations. All rates are approximate as of April 2026 and change regularly.
Lava
Rate: 5-6.5% APR
Custody: Non-custodial
KYC: No
Minimum loan: Low
Max LTV: 50%
Lava offers the lowest rates currently available for Bitcoin-backed borrowing. The protocol is non-custodial and runs without identity verification. The focus is on short-term liquidity: the architecture is optimised for loans in the one to three month range. If rate is your primary concern and you are comfortable with non-custodial setup, Lava is hard to beat on cost.
Strike
Rate: ~9.5% APR (no origination fees)
Custody: Custodial
KYC: Yes
Minimum loan: Varies by jurisdiction
Max LTV: 50%
Strike's Bitcoin loan product is notable for its fee-free structure. No origination fee, no closing fee. The 9.5% APR is the full cost. For borrowers who have been burned by platforms advertising low rates but charging significant fees upfront, Strike's transparency on total cost is refreshing. Integration with the Strike payments app makes the borrowing and repayment flow smooth.
Arch Lending
Rate: 9-12% APR
Custody: Custodial
KYC: Yes
Minimum loan: ~$5,000
Max LTV: 70%
Arch Lending targets larger borrowers and has an institutional feel to the process. They offer one of the higher maximum LTVs, which is useful if you want to maximise liquidity relative to your collateral. The tradeoff is a higher liquidation threshold and more exposure to price volatility. Arch publishes that are worth reading before you commit.
Ledn
Rate: 10-13% APR (fixed); 8-11% (variable)
Custody: Custodial
KYC: Yes
Minimum loan: $1,000
Max LTV: 50%
Ledn is the most established Bitcoin lending platform with over $4 billion in loans originated since 2018. They have published audited proof of reserves and remained solvent through the 2022 market collapse when others did not. Their B2X product allows borrowers to use loan proceeds to purchase more Bitcoin, effectively leveraging their position. The rate is not the lowest, but the institutional track record is the strongest.
See our detailed for a side-by-side breakdown.
Nexo
Rate: 6.9-13.9% APR (tiered by NEXO token holdings)
Custody: Custodial
KYC: Yes
Minimum loan: $50
Max LTV: 50%
Nexo's low minimum loan makes it accessible for borrowers who need smaller amounts. The tiered rate system rewards NEXO token holders with lower interest rates. If you do not hold NEXO, you pay the higher end of the range. The platform is regulated in multiple jurisdictions and has one of the more polished user experiences in the space.
Coinbase
Rate: 8-14% APR
Custody: Custodial
KYC: Yes
Minimum loan: Varies
Max LTV: 40%
Coinbase's Bitcoin-backed loan product benefits from the most recognised brand in consumer crypto. If you are already on the platform and trust the exchange, borrowing there involves no new onboarding. The maximum LTV is lower than most competitors, which means less liquidity per unit of collateral but a larger buffer before liquidation. Rate varies based on loan size and market conditions.
Aave (via wrapped Bitcoin)
Rate: Variable, 2-10%+ depending on utilisation
Custody: Smart contract
KYC: No
Minimum loan: No minimum
Max LTV: 70%
Aave is an Ethereum DeFi protocol. Native Bitcoin cannot be used directly; you need to wrap your BTC as wBTC or cbBTC first, which introduces a separate custodial layer (the wBTC consortium, or Coinbase for cbBTC). Once wrapped, Aave's rates are determined by utilisation: when many people are borrowing, rates go up; when demand is low, rates can be very low. There is also Ethereum gas cost to factor in. If you already hold wBTC or are comfortable with the wrapping process, Aave offers some of the most flexible DeFi borrowing.
Ducat
Rate: Protocol-set, comparable to DeFi alternatives
Custody: Non-custodial (FROST vault, Bitcoin L1)
KYC: No
Minimum loan: No fixed minimum
Max LTV: 50%
Ducat is the only platform on this list that uses native Bitcoin as collateral without bridging or wrapping, and without a custodian. Your BTC stays on Bitcoin Layer 1 in a vault you control. You borrow UNIT stablecoins, which are issued as Runes on Bitcoin. The protocol is newer than the CeFi alternatives, which means less track record but also a fundamentally different risk model.
For borrowers where self-custody is a priority, Ducat is currently the only option for native BTC on Bitcoin L1 without custody transfer.
How to choose
The decision tree is fairly simple:
Is self-custody non-negotiable? Lava or Ducat. Aave if you are comfortable with wBTC wrapping.
Do you need the lowest possible rate? Lava at 5-6.5%.
Do you need a large established platform with proven track record? Ledn.
Do you need a small loan, easy setup? Nexo.
Are you already on Coinbase? Coinbase for simplicity.
Do you need a high LTV? Arch Lending (70%) or Aave via wBTC (70%).
For a more detailed breakdown of what each platform charges, including fee structures and how to calculate true APR, see our .
Rates and terms accurate as of April 2026. Check each platform directly before borrowing. This is not financial advice.
