Bitbond Logo

Loan Amounts


$1,000 - $25,000

Loan Term


3 - 60 months

APR Range


starting at 1%

Min. Credit Score


Not specified

Editorial Rating

Bitbond Review: 2021 Edition

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Loan Amounts


$1,000 - $25,000

Loan Term


3 - 60 months

APR Range


starting at 1%

Min. Credit Score


Not specified



Origination fee 1% - 3%

Funding Time


1-5 days

Founded in



Min. Revenue


$50,000 yearly turnover

Bitbond Logo

Editorial Rating

The Bitbond platform provides technology-powered financial services for business owners in a variety of industries. While the site is well-established, Bitbond reviews are mixed. Is this the right solution for your business? In this post, we’ll give you all the details to help you make an informed decision.

What Is Bitbond?

Bitbond is a Bitcoin loan broker catering to online sellers and small business owners. They act as a market place for peer-to-peer cryptocurrency lending and aim to assist any business seeking fast financing.

Who Is Bitbond Best For?

Bitbond is best for established small to medium businesses with an eBay store. Business owners should have a reasonably good credit history and ideally an annual turnover of between $50,000 and $1.5 million.

Bitbond loans are paid out in Bitcoin, so lenders should understand how cryptocurrencies work.

Getting Started With Bitbond

To start your application, head over to the company’s site. Hit the “Request a Demo” button to register. You’ll input your name, email address, and business name. You’ll then confirm your email.

From there, someone will contact you to discuss your options. If you meet the prescreening criteria, they’ll send you an application for Bitbond loans, and ask for supporting documentation. You’ll have to provide documentation in accordance with anti-money laundering regulations.

Once you send in your completed Bitbond borrower application, they’ll confirm your credit rating and income. If you meet the requirements, they’ll publish your request. They’ll then open the auction. From there, lenders will make bids, and you can view loan offers. Then, you get to select the best lender offers to suit your needs.

Terms & Requirements

The Bitbond loan requirements are lenient. You don’t need to have a minimum credit score or submit financials for your business. You, however, must submit details of your connected business checking account at eBay to help the platform determine your loan eligibility.

Bitbond looks at:

  • Your personal credit score
  • The business’s eBay feedback
  • Where you live and the business you’re in
  • Any previous payment history for bitcoin loans, where applicable.

Borrowers pay between 1% and 3% of the loan amount for this rating. This is an origination fee and is payable when the loan is funded. The Bitcoin lenders keep all the interest.

You may borrow an amount of 0.1 Bitcoins or more, but Bitbond does assign you a maximum limit based on your credit history. Yet, you can’t borrow more than $25,000. If you’re successful, the platform opens a Bitcoin account on your behalf.

In terms of repaying, this type of loan belongs in the installment loans category. You’ll have to ensure that the funds are in your Bitcoin account. This is the least expensive option and is ideal if you don’t have a business bank account.

You can opt to make transfers to the company’s German bank account, but that’s quite a costly way to make repayments.

If there’s not enough money, you’ll pay interest on the Bitbond delayed payments. The interest rate is the German base lending rate + 5%. The company will consider reversing this fee if you can prove that the lender didn’t lose much, or suffer damages. Doing so is very difficult, however.

If you miss two installments, Bitbond contacts you to give you a final date for paying the overdue amount. If you still don’t pay, the entire loan falls due.

User Reviews

The company scores 4.0 on TrustPilot. Our experience was that the customer service was slow to respond and that the application process was drawn out. There’s also very little concrete information on the site overall.

The “Terms and Conditions” page does provide a lot of details, but finding it on the site is difficult. We eventually came across it by running a Google Search. We do feel that the company should be more transparent here.

The “Borrower’s Rates” page linked on the “Terms and Conditions” page is a broken link at the time of writing – you have to initiate the process to find out what the rates are. That’s annoying.

Bitbond reviews are mixed. Some borrowers raved about the customer service. Not all were as happy, however. In one case, the lender complained that his bank charges were high because of the fees associated with repaying the loan. To be fair, this is something that the company had no control over.

The lending experience gets the most complaints. These are mainly attributable to not understanding cryptocurrency peer-to-peer lending. The company makes it clear upfront that a good credit score is a guarantee that the person will repay the loan.


Consider some of the most important features of Bitbond.

Rates & Fees

The company only charges a once-off origination fee. That’s payable for the rating process and is between 1% and 3% of the loan amount. There’s no option to pay a flat fee on the amount funded.

The interest you pay depends on what the Bitbond lenders charge. There’s no way of knowing what this is until you receive bids.

Aside from that, there are just the late payment fees to consider. You’ll have to pay the base rate + 5% on the overdue amount. For larger loans, the implications of non-payment are expensive.

Privacy & Security

Bitbond offers better security than most. The company’s marketplace and dashboard are hosted on a private network not visible through your typical search. That’s one of the reasons that it’s difficult to get a lot of information.

Aside from that, they use high-level encryption to keep client data safe. They respect your privacy and won’t sell your information unless you sign up for partner offers.

Customer Support

Clients may reach out via email or by telephone.

Bitbond Alternatives 

Bitbond vs Fundera

Fundera offers loans of a million or more and works in fiat currencies. This may prove a simpler option for businesses needing a larger loan amount. There’s no need to understand cryptocurrencies with Fundera.

On the flip side, Fundera does require a minimum credit rating of 550 and businesses will have to submit bank statements. The application process at Bitbond is simpler.

Bitbond vs Monevo

There is no Bitbond personal loan option. If you need quick loans, Monevo is a better alternative. Monevo offers personal loans of between $1,000 and $100,000. This might be a preferable option if you need startup finance, or if you need personal loan services. The loan application process is fast, and it makes it possible to borrow money online instantly. The minimum credit rating is only 450.

As someone who’s self-employed, it might be harder to qualify for larger loans.

The Best Bitcoin Lending Sites Overall

If you’d like to learn how Bitbond measures up to the competition, read through our list of the best bitcoin lending sites. We recommend spending time comparing your options. BlockFi, for example, explains the process better.

Nexo meanwhile allows you to borrow money against your existing crypto assets, allowing you to get a credit line almost instantly.

Final Verdict

Overall, business owners must do their homework whenever they borrow money online. The company is legit and it could be a good lending option, but the nature of Bitcoin peer-to-peer lending adds a layer of complexity. Owners who understand cryptocurrencies well might find that this is a low-cost, viable method of obtaining a loan.

Overall, the Bitbond reviews from clients who understand the process were positive. If you’re not exactly sure how it works, this isn’t the best way to borrow money.


  • No minimum credit score
  • Funding, once approved, is quick
  • Rating or origination fee is lower than with traditional lenders
  • Bitcoin transactions are quick and cheap, no bank account needed
  • You’ve got access to a pool of investors, giving competitive Bitbond interest rates


  • No types of personal loans
  • Bitbond reviews vary wildly
  • No way to know what you’ll pay upfront
  • The estimated annual percentage rate of the loan depends on the lender
  • The volatility of the Bitcoin price could make the monthly payments expensive option over the long term.
Bitbond Logo

Editorial Rating


Is Bitbond a good idea?

Only if you understand how cryptocurrency markets operate. You may choose between Bitcoin-based loan repayment and exchange-rate loan repayment. The first option works well for borrowers when demand for Bitcoin is low. Considering the wide fluctuations in the Bitcoin price, funding your Bitcoin account can be problematic if rates are high. By contrast, an exchange rate loan-based repayment is consistent. It benefits borrowers when Bitcoin demand is high, but doesn’t allow them to benefit when the Bitcoin price is low.

Is it hard to get a loan from Bitbond?

Becoming a Bitbond borrower is simple. The loan requirements aren’t very stringent, but you must provide proof of a seller account on eBay. The platform doesn’t have minimum credit requirements aside from saying that you shouldn’t have adverse listings. They rate you based on the criteria listed above and list your rating with the loan. It’s up to the lenders to decide from there.

How does a Bitbond loan work?

You register with Bitbond and fill out a free application form. If your loan meets the minimum requirements, the platform posts your loan request on the market. Individual investors may then make bids on the loan. They may fund the entire loan or only part of it. You select the offer or multiple loan offers that suit you best.

How does Bitbond affect your credit?

The company does a credit check when you first apply. This does impact your credit score slightly because it’s registered as an application for credit. Thereafter, Bitbond will only report your payment history to those credit bureaus it has contracts with. If you maintain good payment history, your Bitbond loan will improve your personal credit.

How does Bitbond work?

Bitbond is merely a facilitator. These are private loans. The platform assesses potential borrowers, lists the loan requests, and manages the contracts and repayments. They charge a once-off fee for this service, but no transaction fees after that.

Is Bitbond legit?

Yes. It’s a registered German company, regulated by the German Financial Regulator, BaFin.

What is the interest rate on a Bitbond loan?

This depends on the lender, so it can range widely. You’ll pay between 1% and 4% once-off for the Bitbond rating.

Is Bitbond a good choice for startups?

No. Your business must have run for at least a year before applying.

Does Bitbond offer startup business loans?

No. There is no startup business loan option.

What are Bitbond requirements for borrowers?

An established account with one of the online marketplaces, general creditworthiness and a credit history free of bankruptcy and adverse listings, and having an established eBay account.

Can you get a Bitbond debt settlement?

Yes. There are no penalties for early settlement of approved loans.

How do you get a Bitbond loan?

By registering on their site. They’ll then contact you to prescreen you and provide the relevant forms. You can apply for a range of reasons, from equipment financing to bridging finance.

Can I get a loan from Bitbond if I have a bad credit score?

Bitbond doesn’t have a credit score requirement, but they do carefully evaluate the risk of lending money to you. Bad credit counts against you. Poor credit history makes lenders concerned about the likelihood that a person will pay their debts. The site gives clients an idea of your credit score, and lenders might decide not to lend you money.

Does Bitbond offer a credit card?

No. Many companies offer you ways to improve your credit score through credit cards. This is not one of those companies.

Does Bitbond check credit?

Yes, when they have an agreement with a reputable credit bureau in your country. While their business loan requirements are more lenient than most, they do the basic checks they’ll also confirm your history on any Bitcoin loans you’ve had before.

How much can Bitbond lend?

The range for Bitbond loans is typically a minimum loan amount of $1,000 and a maximum loan amount of $25,000. You may discuss larger amounts with the company.

What types of loans does the lender offer?

Bitcoin-based loans where borrowers may opt to repay their loans in Bitcoins every month. Exchange rate-based loans that let borrowers choose, instead, for fixed repayments in either euros or dollars. There are no business lines of credit, or business loans for bad credit, or merchant cash advances.

Can I have more than one loan at a time?

No. The company has no loan renewal policies either. You must repay your current loan before reapplying.

How quickly can I get my money out of Bitbond?

Once you’re on the system, you access convenient loan requests from your dashboard. Lenders must have the correct amount in their cryptocurrency accounts before putting in a bid. Once the loan is finalized, you get the money. Bitcoin transfers typically take around twenty minutes, depending on how many transactions are being processed. On a bad day, the transfer can take 24 hours.

How fast are Bitbond loans approved?

The rating process is quick if your business is established. Depending on what financial factors the company can confirm, your request might be listed within 24 hours. From there, it depends on how many lenders show interest. A loan typically takes between five days and two weeks.

What do Bitbond’s customers say about them?

The company has a 4.0 rating on TrustPilot. The Bitbond reviews are mixed. Clients who do get their loans feel that the service is good. There are a few who complain that the repayment terms weren’t carefully explained and that the charges were higher than expected. The majority of complaints are from lenders on the platform. These are typically because these lenders didn’t understand the intricacies of the cryptocurrency market movements.