Best Bitcoin Lending Sites [The Top 9 Sites of 2020]

Are you looking for a quick way to obtain Bitcoin?

You may have noticed the evolution of cryptocurrency and are feeling a bit left out.

We are here for you with our list of the best Bitcoin lending sites that can give you an idea of how to you invest in this flagship digital currency. To give you a clearer picture of the options on the market, we have contacted some of the major companies that offer these services directly. 

Here you will learn about…

  • The top lending sites currently on the market
  • A detailed list of the Pros and Cons of each lending site
  • A comprehensive buyer’s guide to help you make your decision
  • The fastest way to obtain Bitcoin loans.

Which are the top Bitcoin lending sites in 2020?


Our rating: 9.2/10

Nexo offers one of the safest ways to loan crypto. All accounts are insured by digital asset security expert BitGo, allowing all transactions to be conducted safely. You can view Nexo as the most secure platform that allows you to instantly borrow 45+ cryptocurrencies. It further lets you earn Nexo Bitcoin interest in idle assets.

Best for: Crypto borrowers 

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Our rating: 9.1/10

Opening an account with BlockFi can be done in a couple of easy steps. Before you know it, you will start earning up to 8.6% of interest annually. BlockFi lets your crypto do the work for you by allowing you to lend Bitcoin for interest and earn monthly payments in the deposited asset type. You can earn compound interest in crypto, resulting in increasing your assets.

Best for: Borrowers and lenders but benefits borrowers more

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Celsius Network

Our rating: 8.9/10

The Celsius Network platform offers their users curated services that are otherwise unavailable through traditional institutions. You can sign up for an instant Bitcoin loan with no credit check. It lets you earn interest on crypto and at the same time borrow against it.

Best for: Companies and other users

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Our rating: 8.8/10

CoinLoan has a lot to offer to any investor with significant crypto holdings and eager borrowers. It challenges traditional financing by combining cryptocurrency and crowdfunding, allowing individuals to borrow funds with a loan-to-value (LTV) of up to 70%. While those looking to gain passive income can get double-digit returns both by funding investments with stable and fiat currencies.

Best for: Business and general users

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Our rating: 8.6/10

Binance is a legitimate platform that provides primarily Bitcoin purchases while also dealing with lending cryptocurrency at a very favorable BTC price. You can choose from a wide suite of crypto options. The platform also lets you hold your funds and gain interest, and make flexible deposits at your convenience. Either way, Binance helps you make good use of your assets. 

Best for: People who trade in Crypto

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Our rating: 8.5/10

BtcPop allows for a quick Bitcoin income by getting loans from other members or loaning it yourself. It offers easy-to-use services that result in your getting the assets you need. They deal with multiple currencies and even offer new rising altcoins. 

Best for: Various users

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Our rating: 8.2/10

If you want to be protected at all times while earning passive income, you can open a crypto interest account with Salt. Collateralized Bitcoin loans are what they offer, along with an opportunity to get the assets you need. Whether it is by lending or borrowing, Salt makes everything possible, backed by unique crime insurance protection that not a lot of platforms offer. You and your assets can sleep well.

Best for: Organizations

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Our rating: 8.0/10

xCoins services are specifically developed to cater to those who want to bypass the usual problems that occur when trying to obtain Bitcoin. Forget about other unsecured Bitcoin loans and utilize the services of xCoins and find or get matched with potential borrowers or lenders fast.

Best for: Various users

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Our rating: 7.8/10

Kiva is there to provide anonymous Bitcoin loan options to those that need them the most. Communities in need around the world can truly benefit from their program. Kiva offers flexible loan terms and capital to enable stability.

Best for: People and organizations looking for funds

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2020’s Bitcoin Lending Sites

Our list of best Bitcoin lending sites is based on our personal opinion and experience with the platforms, backed by our custom methodology. By carefully analyzing the market and what it offers we have come up with this curated list of platforms:

  • Nexo – One of the safest platforms currently available.
  • BlockFi – The only platform that offers a computed interest rate.
  • Celsius Network – Has made it on the Forbs’ of companies to watch for and one that really has the potential to change the way people do transactions.
  • CoinLoan – A leading P2P crypto asset-lending platform with advanced technology and above-average security. 
  • Binance – One of the leading crypto exchange platforms that also offers crypto lending and the ability to choose among 100 different coins available.
  • BtcPop – A platform that solely grants loans based on the user’s reputation and not credit score.
  • Salt – The only site that provides next-gen protection and even offers crime insurance to safeguard your digital assets.
  • xCoins – The only service that makes their transactions possible through PayPal.
  • Kiva – The only platform that offers 0% interest but only helps the ones that really need the assets.  

Top 9 Bitcoin Lending Sites


Nexo was founded by Nexo Capital, or more precisely by TechCrunch founder Michael Arrington in 2017. As a multi-function lending platform, it not only provides P2P services, but also combines LTV and collateralized loans. That said, cryptocurrency remains their main focus, with Nexo Bitcoin lending their prime offering.

Currently, Nexo caters to the needs of more than 2 million customers worldwide. It additionally supports over 45 fiat currencies. 

Key Features

  • Free trial: No
  • Lenders can withdraw money at any time: Yes
  • Platform charges: No charges
  • Loan duration: Repay all or part of your loan at any time
  • Interest rate: 5.9% per year APR
  • Deposit limit: No deposit limit
  • Accepts multiple cryptocurrencies: Yes

How to Apply

Opening up a Nexo Bitcoin wallet is pretty easy and will only take you a few steps to complete. You start by signing up for an account and filling in the necessary information. To get a loan you have to fund it with the cryptocurrency of your choice. Nexo supports BTC, XRP, ETH, LTC, BCH, XLM, EOS, BNB, TRX, and NEXO, as well as some stablecoins.

A picture of the loan application process on the Nexo platform

The next step involves going through a verification process, which you may do in the “My Profile” section. Once your loan is approved and you get the funds you need, you can withdraw them at any time by choosing the withdrawal method to obtain Nexo Bitcoin cash.

Nexo users have the option to deposit their preferred fiat currency or stablecoin so they gain interest. Lenders can in turn deposit different cryptocurrencies as collateral and qualify for a fiat currency loan.

Things We Liked & Things We Didn’t Like

What we liked about Nexo is their level of professionalism. They truly make users feel safe when using their services thanks to the platform’s military-grade security. For that reason, theirs are probably the safest Bitcoin wallets that you can find.

On the flip side, something that is not going to be beneficial for the borrowers is the comparatively higher interest rates. Also, you cannot really earn interest on cryptocurrencies that are not stablecoins.

But Nexo balances everything out with safety, flexibility and a lot more compromises than the completion.


The support team was rather unhelpful as they mostly replied by sending automated messages. This can lead to a lot of confusion if you are unsure about what you are looking for.


Nexo has set its cryptocurrency lending range between $500 and $2 million. The LTV ration then ranges from 20% to 50% of deposited assets.

Loan terms meanwhile start from 8%, which is rather low compared to other platforms. Interest, however, is charged for the days you borrow and also on the money you use.


  • Supports LTV and collateralized loans in addition to cryptocurrency loans
  • Offers more fiat currencies that rivals 
  • Very high insurance coverage (up to $100 million)
  • Above-average security


  • Higher interest rates compared to other platforms


Our Verdict

Nexo is arguably the best Bitcoin lending platform out there. You are not going to get rich off of it but you will definitely be able to get the amount of cryptocurrency you are aiming for. Highly professional and safe.

Reasons to Use

We recommend using Nexo due to its high safety and reliability. Not many platforms offer the security that they do. 


Some would consider BlockFi one of the best crypto lending sites currently available. It was founded by Zac Prince and Flori Marquez in 2017. Since its inception the company has managed to raise over $20 from firms, including Coinbase Ventures.

BlockFi is currently the only platform offering a crypto deposit account with compound interest. Meaning that the monthly interest earned goes back to the original pool and continues to compound. Currently, BlockFi has over $50 million of cryptocurrency stored by users that are being paid interest.

Key Features

  • Free trial: No
  • Lenders can withdraw money at any time: Yes
  • Platform charges: One free withdrawal fee a month. After that a fee of 0.0025 BTC or 0.0015 ETH
  • Loan duration: 12 months
  • Interest rate: BTC (0-5) 6%, BTC (>5) 3.2%, ETH (0-500) 4.5%, ETH (>500) 2.0%
  • Deposit limit: No minimum nor maximum deposit limit
  • Accepts multiple cryptocurrencies: Yes

How to Apply

Opening up an account with BlockFi is fairly easy and can set you up with easy blockchain lending. You just have to go to their site and either find the “Earn Interest” or “Get Started” option. Add your email and password to create an account. A verification code will be sent to your mail address. After this, go to “Deposit” where you will confirm your identity and make your initial deposit.

A picture of the application process on the BlockFi platform

You will finish the process by entering the necessary personal information about you. Finally, to be approved, upload a picture of a valid document (ID, passport or driver’s license).

Things We Liked & Things We Didn’t Like

Unlike some other platforms (eg. Credible Friends Bitcoin Lending) BlockFi offers a monthly compound interest. Meaning that the interest you earn will also earn interest in the following month. Also, removing the early withdrawal penalty is a good move on their part. Additionally, we have to mention the zero-fee trading possibility. Allowing users to trade between various cryptocurrencies on the platform at zero cost.

That said, withdrawal fees on this platform are higher than most. In fact, you will have to be careful how much and how often you withdraw funds. Additionally, customers need to be careful and check the interest rates for different crypto assets as they do tend to vary often.


As far as their support team goes they are doing a good job. They seem to be responsive, and offer clear and helpful answers.


We would say that BlockFi offers reasonable fees for their level of professionalism and reputation. The addition of one free withdrawal fee per month is also really helpful. Although it may be stifling for those who want more flexibility and don’t want to spend so much on added fees.


  • Trade between different cryptocurrency at zero cost
  • Offers monthly compound interest
  • Earn interest in the asset of choice
  • No minimum requirements to earn interest


  • High withdrawal fees than most
  • They often adjust their interest rates

Our Verdict

BlockFi is definitely one of the better lending platforms out there. They are definitely making waves with the work they’re doing and are trying to get better at the same time. Reaching out to customers and improving their services is definitely something that makes them one of the best Bitcoin lending sites currently available.

That said, they do need to work on their withdrawal fees for an even better rating. 

Reasons to Use

Professionalism, favorable interest rates and high security. The platform is improving and trying to make their services even better. 

Celsius Network

Celsius Network is a Bitcoin loan platform founded in 2018. It is actually Blockchain-based and provides a number of financial services for crypto holders. It was founded by Alex Mashinsky, the inventor and creator of VoIP (Voice over IP).

A picture of two mobile phones and an advertisement of the Celsius Network platform

Since its establishment, the platform has amassed more than 50,000 members. Additionally, it was included in the Forbs’ Top 10 Companies to Watch for in 2018 list, described as one that has the potential to disrupt traditional banking.

Key Features

  • Free trial: No
  • Lenders can withdraw money at any time: Yes
  • Platform charges: No fees
  • Loan duration: 6 or 12 months terms
  • Interest rate: Starting rate is 4.95%, but mostly depends on the loan-to-value ratio
  • Deposit limit: No minimum nor maximum deposit limit
  • Accepts multiple cryptocurrencies: Yes

How to Apply

Celsius Network Bitcoin lending allows you to loan the crypto assets of your choice by first downloading their mobile app. Next, you need to fill in the relevant information.

You have to specify the amount of the loan you want to take. You can choose to be paid in either USD or stablecoin. Determine the rate and loan period. You can also try and lower the interest rate by using Celsius tokens (CEL). Connect your bank account, review your loan and you are done. Simple as that.

Things We Liked & Things We Didn’t Like

There are plenty of reasons to like Celsius Network, starting with their no-fee withdrawals. Also, gaining interest in the currency of your choice allows for flexibility. It can easily be predetermined with a Celsius Network interest calculator beforehand.

On the downside, the absence of a desktop version is definitely something that most users will not appreciate. The mobile version is user friendly, both options would have been better.


The support team is doing a good job. They answer quickly and to the point. Definitely a plus.


Probably the best part about Celsius Network is that they don’t charge any fees whatsoever. So there are no transaction fees, no origination fees, no deposit nor withdrawal fees, no early termination fees. Which is particularly astounding when you check out, for example, the Bitbond rates and fees.

Instead, they make money by pumping up the price of their CEL tokens.


  • No minimum deposits nor fees of any kind
  • Choose to gain interest in the native currency you deposited or in CEL tokens
  • Wallets insured by BitGo for up to $100 million
  • CEL Pay option that allows you to transfer coins to another user without added fees


  • No desktop version, only mobile app
  • Centralized wallet
  • Has to be paid in native currency to gain higher interest

Our Verdict

Celsius Network is definitely a platform to check out. It provides great options and offers fast access to loans, while earning interest seems effortless. The only downside is the uncompetitive CEL token rates. 


Reasons to Use

If you are looking to get Bitcoin fast, then the Celsius Network is a great one to use. With their BTC loan app at hand you can get one from your phone wherever you are. It can be hard to determine the interest rate, but if you work around it there is a good chance that you might earn well. 


CoinLoan is one of the first P2P lending platforms for crypto assets. It does not only help you manage your cryptoassets, but also provides a high level of security not many are capable of. The site is not only designed for helping crypto investors manage digital assets but also secures the collateral issued by the borrowers completely. 

It offers some of the best crypto interest rates, and allows borrowers to automatically insure their damage if they fail to pay their interest on time. CoinLoan also aims at using different technologies to help their clients do their business better.

Key Features

  • Free trial: No
  • Lenders can withdraw money at any time: Yes
  • Platform charges: No fees
  • Loan duration: from 7 days to 36 months
  • Interest rate: There are no fixed interest rates; both the borrower and the lender are free to set the desired interest
  • Deposit limit: The minimum deposit amount is determined by the asset value, but generally amounts to $100
  • Accepts multiple cryptocurrencies: Yes

How to Apply

The application process on the CoinLoan peer lending platform is very similar to any other. Creating the account and getting verified takes mere minutes. Once you are done with all of that, simply click the “Lend” option. It will allow you to create a custom loan where you can determine your parameters. Choose the lending amount, loan term, loan limit, the interest rate, set the repayment options and pick the allowed crypto collateral.

A picture of the lending process on the CoinLoan platform

After inputting all the necessary data, summarize your loan offer and click “Loan Agreement” which will finalize and create your loan offer.

You also have to fund your wallet with altcoin collateral to become eligible for funding. This will determine the amount you can borrow based on the market value of your security.

Things We Liked & Things We Didn’t Like

What we liked about CoinLoan is the effort they put into organizing their platform. Also, you will feel much safer with them as you can always count on getting the borrower’s collateral if nothing else. So you don’t have to worry about unsecured Bitcoin loans. But if things go well, you stand to earn up to 70% LTV of the asset’s market value.

What we didn’t like is that there are not many lenders nor borrowers, which makes trading somewhat limited.


The support team at CoinLoan offered us probably the best experience of every platform that we check. They are very responsive and polite. They answer almost instantaneously when contacted through the platform. You can also contact them by email, and they are quick to respond.


CoinLoan is one of the best alternative Bitcoin lending options for lenders, as they are not required to pay any fees whatsoever. So no registration fees, no transaction fees, no deposits fees nor withdrawal fees.

The pricing for borrowers meanwhile varies depending on the loan terms.


  • Digital asset secured loans mean a higher probability of payback
  • Supports multiple currencies compared to other sites
  • LTV of up to 70%
  • Regulated under European legislation


  • A lower volume of borrowers and investors compared to other platforms
  • Absence of a BuyBack guarantee

Our Verdict

CoinLoan is a veteran in this field and they prove it. The concept of combining P2P and cryptocurrency is really smart. It makes a lot of sense and you can see that it pays off.

The biggest concern, however, is that they might suffer from low liquidity. In that case, borrowers will suffer financially, but the investors are safe due to the collateral.

Reasons to Use

If you are considering P2P banking, then CoinLoan is definitely an option to shortlist. Combining P2P and cryptocurrencies is definitely a smart move on their part. Also, they are not imposing any parameters that you don’t want to accept. The flexibility of determining everything by yourself can go a long way. 

Even with the low amount of loans available, CoinLoan still has enough to offer to people who need the assets, not to mention their multiple currency options. 


Binance is a company created by developer Changpeng Zhao in 2017. It is based in Hong Kong and even possesses its own cryptocurrency coin, Binance Coin (BNB), which is used for transactions and payments for fees on Binance.

Binance is one of the leading crypto-to-crypto exchange platforms and supports over a hundred of coins. Additionally, it offers some of the most favorable Bitcoin lending rates. Besides being able to cater to users from all over the world it recently partnered with Simplex to allow credit card purchases of crypto at a premium.

Key Features

  • Free trial: No
  • Lenders can withdraw money at any time: No
  • Platform charges: Includes fees based on VIP level (VIP 0-9) which also depends on the currency you are using. Includes spot trading fees, deposit and withdrawal fees.
  • Loan duration: Choose from 7 to 90 days
  • Interest rate: Daily interest rate 0.0244%, Annual interest rate 8.90%
  • Deposit limit: No limit
  • Accepts multiple cryptocurrencies: Yes 

How to Apply

As one of the best Bitcoin lending exchange sites, Binance offers two types of lending – Fixed Deposits and Flexible Deposits. With the fixed ones you are supposed to lock your funds to a previously determined amount of time and interest. But the Flexible ones allow you to withdraw the funds whenever you want while the interest rate also changes over time.

After creating an account with Binance, find the “Products” bar and select one of the two mentioned above. After you select the product, simply subscribe your crypto to it and you are ready to loan.    

A picture of how to lend bitcoin on the Binance platform

Things We Liked & Things We Didn’t Like

What’s great about Binance is that they regularly update their coin value and are able to offer updated interest rates on each one. They are also able to introduce new coins for lending. The platform consistently evaluates new coins and tokens based on demand. So it would be wise to hold on to your coins that you wanted to get rid of because you just might get to use them here.

While they provide one of the best Bitcoin wallets, they don’t trade in fiat currencies. We see this as a bit of a downside. Also, their support team was not as helpful as you would expect.


The support team on Binance was able to answer our questions quickly, but with automated messages. So it still took us a lot of time to find the answers we needed. So, the support team should work on adding more personality to their services.


The fees for Binance lending are the same as for Binance trading. Meaning that they employ a VIP tier system where rates and fees are determined based on your level (VIP 0-9). Both the fees and interest rates may differ due to the level and each asset has a different fee as well.


  • Offers multiple cryptocurrencies
  • Interest is determined based on an annualized interest rate within a 14-day maturity term
  • Great usability, both for experienced and beginner users


  • Doesn’t support fiat currencies
  • Users need to wait for the next day to withdraw assets from flexible deposit accounts if they are locked for the day

Our Verdict

Binance provides a simple way to get an instant Bitcoin loan with no verification. They are an experienced trading platform already and are quickly becoming a good lending one as well. 

Reasons to Use

One of the main reasons for using Binance as opposed to other platforms is the ease of use. They make things really simple. Beginners are welcome to try out it while experienced traders will benefit from their offers. It certainly does not hurt to explore Binance for your lending needs.


BTCpop was created in 2014 and is headquartered in East Sussex, UK. It is recognized as one of the first websites that offer peer-to-peer lending for Bitcoin. Currently, it has a total volume of around $1 million and 20,000 users spread across 60+countries.

A picture of what BTCPop lending platform offers

This is also one of the few platforms that offer loans in Bitcoin, rather than being backed up by cryptocurrency. BtcPop Bitcoin lending is based on online reputation and clients are not deemed eligible on their credit score. Part of the borrower’s credibility gets is also based on the repayment history on the platform. So if you are thinking about investing there, you should consider using it in the long term.

Key Features

  • Free trial: No
  • Lenders can withdraw money at any time: Yes
  • Platform charges: There are multiple fees included. Loan fees for listing are 1%, while Late loan fees are 2%.
  • Loan duration: Members can choose the length of a loan repayment starting from one week. It is all based on reputation and members can make monthly payments until the return the entire borrowed amount.
  • Interest rate: High Collateral 10-15% APR; Medium Collateral 15-25%; Low Collateral 20-45%; No Collateral 50%+ APR. However, in most situations, members will set an interest rate based on reputation.
  • Deposit limit: No deposit limit
  • Accepts multiple cryptocurrencies: Yes

How to Apply

Applying for a loan with BtcPop requires you to create an account and get verified first. The verification process is the most important. The platform is not going to look into your credit score but will judge you based on reputation. Once you verify your account it is advised that you wait at least a week before asking for a loan so you explore all the features that the platform provides.

So, how to get a Bitcoin loan? You actually have seven types of loans to choose from (six for verified customers). The important thing here is building your reputation so investors can trust you. Lenders can start with a few reputation bundling loans that are offered at 10+% ARP. However, the exact amount will still depend on the borrower and their stats.

Lenders need to open the loan listing and browse for available requests. The system will automatically generate a rating based on the information users have provided. The investors will overview the created requests and will choose the ones they feel safe investing in.

Things We Liked & Things We Didn’t Like

BtcPop is not your typical platform for lending. It is a community-based platform which is something that we very much like. The idea of being able to acquire a loan based on your reputation is a great one. The fact that many scammers have been able to misuse this feature has been somewhat resolved by tightening up security and introducing new safety features.

All in all, we like the philosophy behind BtcPop lending but we don’t like the fact that it can be abused by scammers.


BtcPop has one of the fastest and most thorough support teams out of all the sites that we’ve checked. They thoroughly answered all the crypto lending questions we had that we had for them. Requests are done through tickets but the answers come almost instantaneously, explained in a very polite, professional and to-the-point manner.


Since BtcPop is all about building your reputation, until you get to a higher level, the fees will differ. Starters get first-time loan rates that will later change. For collaterals over 200% of the requested amount, the APR is 10 – 15%. Collaterals over 100% of the requested amount, the APR is 15 – 25%. Finally, for collaterals over 25% – 75% of the requested amount, the APR is 20 – 45%.


  • Your loans depend on your reputation to pay up
  • Deals with other crypto services like Bitcoin exchange or staking
  • Instant deposits


  • You need to register to the platform the learn all the details (exact rates and interests)
  • One has to build up their reputation in order to qualify for a favorable interest rate
  • Questionable security

Based on the type of service you select the fees also differ. Crypto loans without collateral are 4% of the loaned amount. Loans without unified collateral are 3% of the loan amount. Finally, loans with verified collateral are 2% of the loan amount. 

Our Verdict

BtcPop is not your everyday crypto-asset lending platform but a trust-based community. The user base is still small and because of that the process of getting a loan is not instant, but it is an interesting way of borrowing and lending bitcoin.

Reasons to Use

If you are willing to invest some time and don’t need a loan right away, BtcPop definitely has something to offer. If you want safety and trustworthiness, BtcPop has something for you.


SALT lending was founded in 2016 in Denver, Colorado by Shaw Owen. The abbreviation SALT stands for “Secured Automated Lending Technology.” It is a next-gen crypto borrowing and lending platform as the entire process is done using SALT tokens. 

You will also be able to recognize SALT based on their tagline: “Hold your assets, spend your cash.”

Key Features

  • Free trial: No
  • Lenders can withdraw money at any time: Yes
  • Platform charges: No origination nor prepayment fees
  • Loan duration: 3 to 12 months in monthly payments
  • Interest rate: Between 3.95% and 12.95%, but it still depends on many factors
  • Deposit limit: No deposit limit
  • Accepts multiple cryptocurrencies: Yes.

A picture of what cryptoassets Salt platform accepts

How to Apply

Applying for a loan on Salt is easy. The first step is creating your Salt account. After that is done, you need to fund your Salt Oracle Wallet with cryptocurrency. This is a multi-signature wallet that functions as a store for collateral and is able to automatically manage your lending terms.

Your loan will be processed and approved and the funds will be automatically transferred to your bank account. The repayment process can be done by periodically paying back a certain amount. If you successfully pay the entire sum in the given period, you will be given back your collateral. If not, the investor gets to keep it.

Things We Liked & Things We Didn’t Like

Salt money lending app provides a trade entirely based on their SALT tokens. The fact that it is regulated and that it maintains compliance is something that boasts well for the platform. Although the fees on the platform are competitive with others, the limitations are a bit too much as they quickly eliminate conventional users form the equation. A minimum loan limit of $5,000 is too high for somebody who just wants to get a few crypto assets.

That said, the security is high and the level of professionalism is good.


The support team gets high marks for their speedy responses and professionalism. Quick to answer and easy to understand.


To determine the fees on the Salt platform, it is best to use the Bitcoin lending calculator provided on the site. There are many factors that will determine the interest fees which include the amount of money and the loan worth, the duration for repayment, the location, etc.

There are no late monthly fees nor withdrawal fees imposed. The only fees are those that are added to transactions for network facilitation.


  • No conversion to USD required for using the service
  • A combination of different cryptocurrencies can be used to stake collateral for a loan
  • Cyber liability and crime insurance for insuring client’s funds
  • Very user-friendly and comprehensive platform as well as responsive support service


  • Certain loans may incur higher repayment rates than banks
  • Small repayment windows

Our Verdict

On paper, Salt does seem to be a legitimate and professional platform for acquiring cryptocurrency. The fact that they are doing well in the investment sector and are in high demand in the crypto-community speaks a lot about them. But bad publicity about Bitcoin taxes and unclear rates are something to watch out for. There are a lot of unresolved complaints floating around the internet that greatly lower this platform’s grade.     

Reasons to Use

The client funds are insured. There are no credit checks and the platform allows a combination of different cryptos as collateral. Also, user funds are safely stored in multi-sig wallets for improved security. 


xCoins peer-to-peer platform allows anyone with a credit card and a PayPal account to use it. XCoins offers their clients the service of obtaining Bitcoin through PayPal. This is a great choice for people who prefer to complete their financial services market dealings through PayPal.

A picture of what xCoins platform is able to offer

The platform is still fairly young as it was set up as recently as 2018. It was created by Sergey Nikitin who leveraged PayPal for these types of services. Now, lenders can borrow their Bitcoin and in return, they will get payments through PayPal at various interest rates.

Key Features

  • Free trial: No
  • Lenders can withdraw money at any time: Yes
  • Platform charges: The interest fee for a loan is a one-time payment
  • Loan duration: There is no limit but the borrower may keep the collateral for loans is not repaid
  • Interest rate: Lenders determine the interest of their Bitcoin loan requirements
  • Deposit limit: Not limit
  • Accepts multiple cryptocurrencies: No

How to Apply

You can either apply for a loan or for lending at xCoins. The buying process starts by setting up an account. You can then determine the number of Bitcoin you wish to buy and also choose the preferred payment method. When the process is done, you will receive the Bitcoin to your Bitcoin wallets, which you can later transfer to your own account. 

As far as the lending process goes, besides setting up an account with xCoins you also need a PayPal account as well. You will need to deposit the amount of Bitcoin you wish to lend to your xCoins wallet. The minimum is $20 worth of Bitcoin. Create a listing by determining the interest rate and other needed parameters. The only thing you have to do next is wait for the buyers to come and you will receive your payment through your PayPal account.

Things We Liked & Things We Didn’t Like

xCoins definitely offers an easy way to get approved for crypto lending. Their P2P lending method puts them in a favorable position among users. We also like their security. The 2-tier encryption system is something that gives them an advantage. What’s also interesting is that on this platform, you are able to borrow Bitcoin using your credit card. It is something that most sites don’t support.

However, all the bad publicity surrounding xCoins is definitely a drawback. It’s also only available in select counties, rather than globally. PayPal meanwhile can freeze user accounts due to undefined deposits that they receive through these platforms.     


The xCoins support team is very responsive. They offer various methods of contact.


xCoins does not offer free Bitcoin loans as there are certain fees that have to be paid. Borrowers need to pay an interest fee on their loans. This is done once the security deposit is made through PayPal or by credit card. Borrowers also need to pay fees for payment processing and loan origination. Additionally, any bank transfer fees that are incurred will also need to be taken care of.


  • Very easy and quick verification
  • Instantly receive Bitcoin upon lender payment
  • 2-factor authentication
  • Good customer support


  • Not for beginners
  • Certain issues with PayPal accounts
  • Site issues and bugs
  • Bad publicity

Our Verdict

xCoin seems like a legit platform and it definitely is. That said, all the negative publicity leaves a bad taste in the mouth. This is particularly due to the fact that your PayPal account can be frozen due to these types of transactions.

It nevertheless remains one of the best Bitcoin lending sites out there since it’s able to provide certain services that others may not. If your only way of obtaining Bitcoin is though PayPal, xCoins is definitely the platform that you should use.

A certain amount of risk for using it definitely exists and you should be aware that the fees can sometimes build up.

Reasons to Use

It provides a high-level of security. Also, not many platforms offer the option of obtaining crypto via PayPal or credit card. 


Kiva is not your traditional crypto lending site, it is actually an open ecosystem where lenders from different countries can come and create chances for borrowing. The project is available in more than 80 countries spread across five continents. The partners involved are mostly microfinance institutions, but there are some schools and public enterprises involved as well.

The aim of Kiva is to make lives better for people who need instant crypto credit lines access. Their mission also includes contributing to poverty reduction. Kiva provides quick access to loans to those who really need them and don’t have access to financial services. Most of their crypto backed loans are issued to finance education, agriculture, or various creative projects. The downside is that even though they don’t primarily deal with cryptocurrency, there are still ways of obtaining them with the help of Kiva.

Key Features

  • Free trial: No
  • Lenders can withdraw money at any time: Yes
  • Platform charges: Select field partners are charged a small service fee.
  • Loan duration: Individually based on a schedule and on the borrower’s ability to repay.
  • Interest rate: Depending on the borrower. Some even charge 0% interest. Most Kiva members do not receive interest and the site does not collect it from borrowers either.
  • Deposit limit: No deposit limit, only a borrower’s from $25 to $10,000 depending on the approval
  • Accepts multiple currencies: No

How to Apply

To qualify for a loan with Kiva, you have to be a legitimate business that is not bankrupt. Since there is no credit score check, it offers a free Bitcoin loan without verification. Depending on a variety of factors, businesses can apply for a loan from $1,000 to $10,000.

In order to apply, you only need to create an account and enter the approval stage. You can enter a 15-day private funding period or a 30-day public funding one. Once the crowdfunding is finished, you will get your assets to your account in five to seven days.

Things We Liked & Things We Didn’t Like

Generally speaking, the idea behind Kiva is a really charitable one. Being able to provide cross-border lending to people and organizations that truly need them is really humane. That said, the waiting period is too long. If you are looking at obtaining assets fast, this is not the place to be.

Also, it seems that their reputation is dwindling as there are a lot of claims that their policy is not truly zero-interest as they claim.


Kiva’s support team is doing a really good job. They were able to answer really fast and respond appropriately to the inquiry at hand.


Very different from the Ethlend loan platform, for example, Kiva follows a zero-interest policy and also does not demand any fees. Besides no fees for interest, there are no origination fees and no fees for borrowing.


  • Great for startups and small businesses
  • No prepayment penalty nor additional fees
  • No interest rates
  • Great support service


  • Not good for large corporations
  • A rather long application process
  • One usually has to wait 1-3 months for funding

Our Verdict

The idea behind Kiva seems really great. A crowdfunding method seems to work well. But we are not entirely sure about the zero-interest policy that the site is proposing, especially given the rumors that seem to be floating around the company. All in all, it sounds like a good idea on paper.

Reasons to Use

A picture of a world map and offers that Kiva is able to provide to users

Its policy makes Kiva one of the best Bitcoin lending sites. Making those in need a priority is pretty honorable.

SpendMeNot’s Methodology

The process of finding and selecting the best Bitcoin lending sites in 2020 was definitely not a walk in the park — there are so many of them and most of them do a pretty good job. We, therefore, had to put in a lot of effort to separate the really good ones from the just okay to make our list of top options.

So what did we do exactly?

First of all, we found tons of sites that offer ways to buy and sell Bitcoin. But our aim was concentrating on only the ones that offer loans in cryptocurrency.

Once we got our initial list of sites we went to phase two – reading all the reviews about them. We made sure to focus on the bad ones. Meaning that all platforms that were deemed insecure, or fishy, were immediately cut off.

The next step involved learning all the benefits of the remaining platforms. This process included signing up for free trials, contacting support, and generally determining the usability of the sites.

Once we identified the most professional sites with crypto-backed loans, we looked into their charges.

That included the interest rates that they offer, the user fees, as well as the amount of collateral that you need to invest, and the duration of the loan and when you need to pay it back.  

We narrowed down the list further by sticking to the ones that have the best history of doing business. We also paid attention to reliability and security as users around the world primarily need to feel safe when doing these types of transactions.

The outcome of our research is the list that you have before you – the top Bitcoin lending platforms in 2020.

The idea is to help you understand the advantages and disadvantages of cryptocurrency lending and compare them for each platform. Use all the best rates and be able to loan assets at your convenience. Feel completely secure while doing it without the fear of losing out. Finally, manage your finances away from traditional banking services.

How to Choose a Lending Site for Bitcoin?

It is up to you to make the decision and pick the site that you wish to use for a loan to buy Bitcoin. Each one comes with its pros and cons. But the best way to really choose the top option is to determine the reasons to take a Bitcoin loan.

You can achieve this by simply asking yourself a few questions, including:

Why do I need a Bitcoin loan?

This can be personal in nature and there are many reasons for it. You might need an instant revenue injection to help you boost your business or you simply require an emergency loan.

Why choose a Bitcoin loan over a regular one?

There are many reasons do to so. One of them is the lack of credit checks. You can get a loan without having to go through the whole verification process. Also, there is the speed. Getting this type of loan works much faster.

Which platform has the best offer?

Each platform for lending cryptocurrency has different rules. With those come different rates and fees. It is best to do a little bit of research to find out which ones have the best, overall offer that suits you. Determine the Bitcoin price and what value you can get for it.

Which cryptocurrency do I choose?

These types of sites usually don’t deal in one cryptocurrency but offer more of them. Not everyone specifically deals in Bitcoin. Choose the site based on your cryptocurrency preference and the rates they provide.

Do I want to lend or borrow?

These platforms are not only there in helping you borrow; they also let you earn by becoming a lender. Your Bitcoin lending investment can pay off significantly if you find a place that pays high-interest rates. Obtaining Bitcoin is not only possible through Bitcoin mining. As you can see, there are other ways of doing it.

What do the reviews say?

Besides our opinion, you can also check the reviews that other people have posted. It may provide you with valuable insight that other users, like yourself, have already experienced. Making your choices simpler and faster.

How Can You Benefit from Bitcoin Lending Accounts?

Since you are on this page this means that there is a great possibility that you need to borrow Bitcoin. Or you are at least contemplating the idea about it.

So, how do Bitcoin loans work and how exactly can you benefit from one?

Fast when you are in Need

When seeking monetary funds, people are always in a pickle of how to get them. In most situations, they need it fast and they need it now. Whether it is for a business investment or making a due payment, time is of the essence. So many people turn to banks.

So, what are the issues with the traditional lending model? Actually plenty, but in this case, we focus and the time allocated in approving a loan. The process takes a while and sometimes it is too long for you to wait.

The model of lending cryptocurrency is fast and can be done instantly. You can the funds you need and you get them fast.

Higher Bitcoin Interest Rates

If you have some extra assets that you want to profit off, you can become a lender. The idea behind Bitcoin lending is that you just sit back and relax and wait for the borrower to pay you back the assets you have given them. With interest that often ranges between 3% and 7%. It also depends on the platform as there are some that let you determine your own interest rate.

The downside is that you have to look for a reliable platform and reliable people who will pay the funds back to you. You don’t want an investment where you don’t get any returns. So seek reliable people with credibility and don’t give a Bitcoin loan without collateral.

There are No Credit Checks

A part of getting a loan fast is not going through all the paperwork involved with a traditional loan. This includes checking your credit score, which could disqualify you from getting a loan if you have a bad credit score.

This is one of the biggest benefits of this type of lending. There are no credit score checks, but you still need to put some type of collateral to get a loan. Only verified instant collateral loans are accepted.

Either way, you still have a better chance of getting a loan on these types of platforms than in a bank.

More Possibilities

There are more possibilities for you to find a suitable platform for a loan. Having multiple options definitely allows you to find a favorable one for your needs. Financial services for crypto investors are growing. There are more ways of obtaining cryptocurrency and its popularity has never been so high. This results in more platforms that deal with loans in crypto.

Subsequently, it allows people who need a loan to get better rates.

Don’t be lazy, check the Bitcoin price today and check the latest Bitcoin news. Once you know the current Bitcoin value it will also help you choose more favorable interest rates that the sites offer. Shop around and get the best terms for your needs.  

To Wrap Things Up

People who are in need of fast assets look for quick ways of getting them. Today, cryptocurrency has proven to be a viable source of income. Many favor it over traditional banking, and Bitcoin is regulated and viewed as a legitimate currency. More and more people are focusing on crypto finances as opposed to traditional ones.

So, can you Borrow Bitcoin?

Of course you can. In fact, it is much easier and faster than a traditional loan.

As we explained above, the road to getting crypto assets is much shorter than getting a loan from a bank. It can help you in your time of need. It can help you start a business. It can help you fund an organization. In any case, you can get capital at a fair price.

Our selection of the best Bitcoin lending sites has been made to cater to various needs. If you need Bitcoin (or any other cryptocurrency for that matter) and if you need it fast, we suggest trying out some of the mentioned platforms.


Q: How does Bitcoin lending work?

A: Essentially speaking, a Bitcoin loan works the same as any type of a loan. It, however, has become popular with the rise of Blockchain adoption. People who have Bitcoin, or lenders, will lend it to those that require them, that is, the borrowers. In turn, the borrower will need to repay the loan in due time with interest. Bitcoin loans can be done between any two individuals as long as they possess a Bitcoin wallet.

However, connecting with individuals that are willing to do this type of transaction is harder than you may think. This accounts for the emergence of lending sites for Bitcoin loans. They are a good viable way to broker loans between the two sides.

Most of them are person-to-person Bitcoin loan platforms, meaning that the assets are lent by private owners to borrowers and not by an institution. Depending on the platform and the situation, borrowers may state how much they want to pay interest. But some platforms will have a predetermined amount set based on the borrower’s creditworthiness.

Q: Where can I borrow Bitcoin?

A: People can borrow Bitcoin from other people as long as the two parties involved have a Bitcoin wallet. However, this kind of transaction comes with its risks as you are never sure that you are going to be given back the number of assets (plus interest) you’ve loaned.

Lending sites, therefore, a more viable solution. You can look for crypto lending opportunities, as there are various platforms that conduct these types of transactions in a safe manner.

This way the lender is sure that they are going to get a return.   

Q: What are the advantages of a Bitcoin loan over a traditional loan?

A: Actually, there are more Bitcoin lending advantages than you would think. Each one of them positions them ahead of conventional loans that people are used to.

Let’s mention the most important advantages:

  • No credit checks: When it comes to the crediting process, there are no traditional credit checks required. These types of platforms provide BTC loans on a digital collateralized-credit. This means that people with bad credit or without credit history will have no major problems in getting loans.
  • Speed: The lending process with cryptocurrency is much faster than the traditional one. Sometimes it can even take minutes. It works as a very speedy loan alternative as opposed to traditional loans.
  • Digitized: These types of loans are completely digitized. This means that they are transparent but also applicable in some environments where they usually wouldn’t be.
  • No minimum payments: When it comes to minimum payments, something usually required in traditional lending, a Crypto lending platform usually doesn’t come with one. 

Q: How to apply for a Bitcoin loan?

A: The easiest way is through a reliable platform. Create an account first and then deposit some Bitcoin to your wallet to secure a loan. You can then determine your loan conditions (loan cryptocurrency, interest rate, terms, desired loan amount, etc.). After that, you are free to create your borrowing request and get an instant Bitcoin loan.

Although much different than applying for a loan in a bank, there are still some requirements that need to be fulfilled.


  • ID (a passport will do)
  • Verifying your address (a utility bill in your name)
  • Verifying your e-mail (a code will be sent to your e-mail for verification)
  • Verifying your credit card (advantage if you pay your credit card bill on time)
  • Connecting your social media (helps to prove your identity)
  • Connecting your online payment accounts (PayPal or eBay helps in verifying your payment credibility)
  • Verifying your income (recent invoices or tax forms)

To be eligible for the best Bitcoin loan programs, there are a few things that are going to be considered.


  • Live in a country with regulated Bitcoin.
  • Have a high trust score.
  • Having a steady job.

Q: What happens if I can’t pay back my Bitcoin loan?

A: Bitcoin loans can only be issued if loan collateral is enabled. This failsafe exists to prevent this very thing from happening. It is basically there to protect the lender. So to borrow Bitcoin without collateral would be virtually impossible on most platforms.

Q: Who gives loans in crypto?

A: Currently, the best way available for getting crypto loans is through lending platforms that accept Bitcoin. The ones that we have mentioned above represent just some of the best ones currently available.

Although there are many ways of getting a crypto loan, using platforms represents the safest one. There are many options for obtaining Bitcoin while borrowers also have the possibility of earning interest.

Bitcoin value will remain the same but the interest rates and the fees will depend on the platform that you are using.

Q: How do you earn interest on Bitcoin?

A: Earning interest on Bitcoin will mostly depend on the platform that you are using. Different lending platforms impose different rules, interest rates, and fees.

But the general way of earning interest is to become an investor or a lender on the platform. You lend some of your crypto assets to a person who needs them. The borrower will usually put some collateral first. In most cases, the lender will determine the interest but some platforms have a fixed interest rate. The current Bitcoin price is not taken into account as a factor.

The borrower and the lender also need to determine the loan duration and the way the loan is repaid. Making your own terms also allows you to maximize your earning potential. Sometimes the borrower can repay it in smaller amounts until the entirety of the loan is paid. Thanks to the predetermined interest rate, the lender will be able to gain a profit from their loan. If the borrower does not pay back the entirety of the loan, the lender may keep the collateral that was previously placed.

The best Bitcoin lending sites also offer added Bitcoin security so one doesn’t have to worry about not getting their investment back.  

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