What are the Top Cryptocurrency Lending Platforms

Javeria  |  Mar 21, 2020

Are you a crypto investor and looking for alternatives to earn passive income from crypto? Well, you’ve come to the right place as today we are going to introduce you to one of the best ways to make money from your Bitcoins and cryptocurrencies. If you are into cryptocurrencies, then you must be already aware of crypto trading and investments and all that needs to be done to earn from crypto. That not all! There are other methods too by which you can earn passive income using your Bitcoins, one which is crypto lending. In this article, we will tell you about how crypto lending works and what are the top cryptocurrency lending platforms in the market.

What do we mean by Crypto Lending?


The concept of crypto lending is simple; the borrower uses their crypto as a collateral to get fiat loan, whereas the lender provides the loan with an interest rate. This concept can also be reversed where borrowers can use their fiat money and stablecoins to get crypto assets on loan.

Crypto lending is a well-known practice in the crypto industry, apart from trading and long-term investments. It allows crypto owners to earn profits from their holdings as well as borrow other cryptocurrencies using it. If you are new to cryptocurrency and looking forward to using your cryptocurrencies for a good cause and at the same time making passive money from it, then crypto lending is your answer.

How do Cryptocurrency Lending Platforms work?


There are several cryptocurrency lending platforms that provide crypto users with the ability to obtain a loan using their holdings. Cryptocurrency lending platforms like are of two types, i.e., centralized and decentralized. Centralized lending platforms follow the custodial and KYC system to secure your assets. In this case, the interest rate on loan is decided by the company only, which is rather profitable for lenders as they get high returns.

Unlike centralized platforms, Decentralized lending platforms provide loans without any involvement of intermediaries. It is the best way to earn profit not only by lending but borrowing assets too. While the concept for lenders is simple, i.e., to earn low-risk interest without putting the security of crypto coins on stake, borrowers can make profits from day trading and short selling.

Top Five Cryptocurrency Lending Platforms

Given below are some of the best lending platforms worldwide in terms of charges and services offered. You can take the help of the list to decide which platform best suits your need, but we also recommend that you do thorough research on the platform before you select any one of them.



Block Fi


The New-york based crypto lending platform enables US residents to get USD loan by using crypto coins, BTC, Eth and LTC as collateral. The monthly interest offered by the platform is up to 8.6% annually. Lenders will need to open an Interest Account (BIA) first and then deposit their cryptos to the account.

BlockFi provides extra benefits for institutional borrowers such as support to everyday business expenses and even access to fiat liquidity etc.

Interests vary with the amount of the loan, duration and loan to value selection. Initially, you will get interest rates of 4.5% on loan.

BlockFi was founded in 2017, and since then it is considered as one of the most valuable cryptocurrency lending platforms in the US.



  • Up to 8.6% interest on BlockFi Interest Account
  • LTV (Loan to Value) ratio 50%
  • Borrow interest starting from 4.5%
  • CONS


    • Services Limited to the US only
    • Supports only a few cryptocurrencies
    • Bankera Loans


      Bankera Loans


      The idea of crypto lending is to allow crypto holders, investors, and traders with the ability to access financings such as securing loan using cryptos and Bitcoins. One of the best thing about Bankera lending platform is that that entry limit of loan is as low as 25 EUR that goes up to 1 Million EUR. Bankera Loan offers three loan packages, one with the lowest rates, i.e., LTV at 25%, the most popular one with LTV ratio at 50% and with the highest LTV ratio at 75%.



      • Flexible Loan to Value (LTV) ratio. While the majority of cryptocurrency lending platforms are offering up to 50% LTV ratio, Bankera loan is among the few to provide a loan package with the highest LTV ratio at 75%.
      • Bankera also enables its customers to reschedule the repayment deadline if needed, which is not common in lending platforms.
      • There are no hidden charges.
      • Users can get loans in Euro or some of the leading cryptocurrencies.
      • CONS


        The only drawback of the Bankera is that it hasn’t introduced interest-bearing deposits yet and the services are not available for US citizens.





        TechCrunch founder backed crypto lending platform, Nexo was founded in 2017. Having a user base of more than 200,000, Nexo supports up to 45 Fiat currencies which put it on the top of the best Crypto Lending Platforms list.



        • The best thing about Nexo is that backed by BitGo according to which the users are insured in the state of bankruptcy or hack by the London based bank, Lloyd’s.
        • Interest deposited on a daily basis.
        • Highest interest rates up to 8% if compared to any other cryptocurrency lending platforms.
        • Nexo is one of the most reputable lending platform out there which keep on innovating its services.
        • CONS


          Nexo only provides deposits of stable coins and fiat, and there is even no update on when it will start offering deposits for the leading cryptocurrencies like BTC and Eth.



          Eth lend


          The digital asset lending platform allows its own LEND token to be used as collateral with the fees reduced to zero to obtain loans. EthLend uses the non-custodian depository smart contract and stores its digital assets in a public Eth blockchain for high security. The downside of EthLend is that it only supports Ethereum as collateral.



          • No lending fees
          • Decentralized Platform
          • P2P lending
          • Extra benefits for using LEND tokens
          • 50% loan for using other cryptos as collateral
          • 55% for using LEND Token as collateral
          • CONS


            • Limited to one crypto collateral, Ethereum
            • Celsius network


              Celsius network


              Celsius Network is among the most acknowledged cryptocurrency lending platforms in the industry. Founded back in 2017, Celsius Network has more than 40,000 active wallets on its platform. The platform also offers high-interest rates on crypto deposits.



              • Users can deposit multiple cryptocurrencies
              • No fees on withdrawal, transactions, and deposit.
              • Users are insured by Llyod’s bank.
              • No minimum deposit limit
              • Interest deposited every week
              • High-interest rates for both stablecoins and leading cryptocurrencies.
              • Highest interest rates up to 10% for those accepting to get paid in CEL token
              • CONS


                • As the CEL token is suspended for US citizens, they can’t avail special interest rates.
                • Only Mobile App is available.
                • Conclusion


                  Cryptocurrency Lending Platforms


                  These were the top five cryptocurrency lending platforms in no particular series. Every platform has its pros and cons, and it depends on your needs which one would be best for you. Once, you decide to go on with a particular platform, don’t forget to do proper research on it beforehand. In case, you are not satisfied with the above platforms; you can also look for other platforms like Youholder, Lendroid and Salt Lending. Although crypto lending is among the best practices used to earn profits from crypto holdings, it is suggested that you do not put all your assets on these platforms because there are disadvantages too. If you own a lot of cryptocurrencies, make sure you have them secured in cold storage; otherwise, you can lose access to them.


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