CIR Rankings · Borrow Against Crypto

Crypto-backed Loan Platforms

Compare crypto-backed loan platforms by borrowing APR, collateral, LTV, custody structure and availability. Review provider requirements.

6 ranked picksCIR editorial researchData: Latest tracked loan terms · Checked November 9, 2026

Why trust Coin Interest Rate?

Our team independently tracks and reviews crypto rates, rewards and product features to help readers compare more than the advertised rate. We use official provider websites, product documentation and other relevant sources when evaluating products.

80+ crypto platforms tracked across staking, lending, cards and other digital asset products.
Hundreds of rates tracked alongside features, availability and key risk factors.
Independent comparisons. Compensation does not guarantee favorable coverage. Editorial control remains ours.

Read our full methodology

This ranking is for borrowers who want liquidity without selling their crypto. We use CIR platform ratings as a quality signal, then compare borrowing APR, collateral support, loan-to-value limits, custody structure and geographic access. Earning products are ranked separately on our crypto lending page.

Risk note: Crypto-backed loans can be liquidated if collateral value falls. Borrowers can also face platform, custody, counterparty, liquidity and regulatory risks, including loss of some or all pledged collateral. Disclosure: Rates and terms change. Some outbound links may compensate Coin Interest Rate. Affiliate terms do not impact our editorial reviews.

The short list

Our picks at a glance

1Highest score

Clapp Finance

Listed borrowing APR

5.9-21.9; 0% below 20% LTV

2Bitcoin collateral option

Ledn

Listed borrowing APR

9.25%–11.49%

3Low tracked starting APR

Nexo

Listed borrowing APR

1.9%–17.9%

4Non-custodial option

Firefish

Listed borrowing APR

Variable

5Non-U.S. option

Nebeus

Listed borrowing APR

Personal quote required

6Multi-asset collateral option

APX Lending

Listed borrowing APR

9.99%–11.49%

Compare the picks

Compare the details side by side, then open each review to check eligibility, terms and important tradeoffs.

Pick	Category	Loan structure	Borrowing APR	Maximum LTV	Collateral	Availability
Clapp Finance	Highest score	Custodial crypto-backed loan	5.9-21.9; 0% below 20% LTV	Up to 90% by asset (BTC up to 70%)	Many	Available in the US and other supported countries; product access varies by jurisdiction
Ledn	Bitcoin collateral option	Custodial crypto-backed loan	9.25%–11.49%	50%	BTC	Worldwide, Growth accounts unavailable in certain countries and states
Nexo	Low tracked starting APR	Custodial crypto-backed loan	1.9%–17.9%	50%	Many	Worldwide
Firefish	Non-custodial option	Non-custodial loan	Variable	50%	BTC	Worldwide
Nebeus	Non-U.S. option	Custodial crypto-backed loan	Personal quote required	95%	BTC, ETH, USDC, XRP, LTC + more	UK, Europe and Latin America
APX Lending	Multi-asset collateral option	Custodial crypto-backed loan	9.99%–11.49%	60%	BTC, ETH	US and Canada

Detailed review

Why these options made the list

#1 · Highest score

Clapp Finance

Listed borrowing APR

5.9-21.9; 0% below 20% LTV

Loan structure: Custodial crypto-backed loan
Maximum LTV: Up to 90% by asset (BTC up to 70%)
Collateral: Many
Availability: Available in the US and other supported countries; product access varies by jurisdiction

Clapp Finance appears in the “Highest score” category after applying the stated score, borrowing-cost, collateral, custody and availability filters. Its tracked APR is 5.9-21.9; 0% below 20% LTV, with Up to 90% by asset (BTC up to 70%) maximum LTV currently shown.

Why consider it

+Listed borrowing APR: 5.9-21.9; 0% below 20% LTV.
+Reported collateral: Many.
+Availability: Available in the US and other supported countries; product access varies by jurisdiction.

Tradeoffs to check

!The actual APR can depend on LTV, loan size, term, collateral and jurisdiction.
!The listed maximum LTV is Up to 90% by asset (BTC up to 70%); liquidation thresholds and margin-call rules may differ.
!Crypto-backed loans can involve custody, counterparty, liquidity and liquidation risk.

Full review Visit Clapp FinanceChecked October 25, 2026

#2 · Bitcoin collateral option

Ledn

Listed borrowing APR

9.25%–11.49%

Loan structure: Custodial crypto-backed loan
Maximum LTV: 50%
Collateral: BTC
Availability: Worldwide, Growth accounts unavailable in certain countries and states

Ledn appears in the “Bitcoin collateral option” category after applying the stated score, borrowing-cost, collateral, custody and availability filters. Its tracked APR is 9.25%–11.49%, with 50% maximum LTV currently shown.

Why consider it

+Listed borrowing APR: 9.25%–11.49%.
+Reported collateral: BTC.
+Availability: Worldwide, Growth accounts unavailable in certain countries and states.

Tradeoffs to check

!The actual APR can depend on LTV, loan size, term, collateral and jurisdiction.
!The listed maximum LTV is 50%; liquidation thresholds and margin-call rules may differ.
!Crypto-backed loans can involve custody, counterparty, liquidity and liquidation risk.

Full review Visit Ledn

#3 · Low tracked starting APR

Nexo

Listed borrowing APR

1.9%–17.9%

Loan structure: Custodial crypto-backed loan
Maximum LTV: 50%
Collateral: Many
Availability: Worldwide

Nexo appears in the “Low tracked starting APR” category after applying the stated score, borrowing-cost, collateral, custody and availability filters. Its tracked APR is 1.9%–17.9%, with 50% maximum LTV currently shown.

Why consider it

+Listed borrowing APR: 1.9%–17.9%.
+Reported collateral: Many.
+Availability: Worldwide.

Tradeoffs to check

!The actual APR can depend on LTV, loan size, term, collateral and jurisdiction.
!The listed maximum LTV is 50%; liquidation thresholds and margin-call rules may differ.
!Crypto-backed loans can involve custody, counterparty, liquidity and liquidation risk.

Full review Visit NexoChecked November 9, 2026

#4 · Non-custodial option

Firefish

Listed borrowing APR

Variable

Loan structure: Non-custodial loan
Maximum LTV: 50%
Collateral: BTC
Availability: Worldwide

Firefish appears in the “Non-custodial option” category after applying the stated score, borrowing-cost, collateral, custody and availability filters. Its tracked APR is Variable, with 50% maximum LTV currently shown.

Why consider it

+Listed borrowing APR: Variable.
+Reported collateral: BTC.
+Availability: Worldwide.

Tradeoffs to check

!The actual APR can depend on LTV, loan size, term, collateral and jurisdiction.
!The listed maximum LTV is 50%; liquidation thresholds and margin-call rules may differ.
!Crypto-backed loans can involve custody, counterparty, liquidity and liquidation risk.

Full review Visit Firefish

#5 · Non-U.S. option

Nebeus

Listed borrowing APR

Personal quote required

Loan structure: Custodial crypto-backed loan
Maximum LTV: 95%
Collateral: BTC, ETH, USDC, XRP, LTC + more
Availability: UK, Europe and Latin America

Nebeus appears in the “Non-U.S. option” category after applying the stated score, borrowing-cost, collateral, custody and availability filters. Its tracked APR is Personal quote required, with 95% maximum LTV currently shown.

Why consider it

+Listed borrowing APR: Personal quote required.
+Reported collateral: BTC, ETH, USDC, XRP, LTC + more.
+Availability: UK, Europe and Latin America.

Tradeoffs to check

!The actual APR can depend on LTV, loan size, term, collateral and jurisdiction.
!The listed maximum LTV is 95%; liquidation thresholds and margin-call rules may differ.
!Crypto-backed loans can involve custody, counterparty, liquidity and liquidation risk.

Full review Visit NebeusChecked October 5, 2026

#6 · Multi-asset collateral option

APX Lending

Listed borrowing APR

9.99%–11.49%

Loan structure: Custodial crypto-backed loan
Maximum LTV: 60%
Collateral: BTC, ETH
Availability: US and Canada

APX Lending appears in the “Multi-asset collateral option” category after applying the stated score, borrowing-cost, collateral, custody and availability filters. Its tracked APR is 9.99%–11.49%, with 60% maximum LTV currently shown.

Why consider it

+Listed borrowing APR: 9.99%–11.49%.
+Reported collateral: BTC, ETH.
+Availability: US and Canada.

Tradeoffs to check

!The actual APR can depend on LTV, loan size, term, collateral and jurisdiction.
!The listed maximum LTV is 60%; liquidation thresholds and margin-call rules may differ.
!Crypto-backed loans can involve custody, counterparty, liquidity and liquidation risk.

Full review Visit APX Lending

How we chose these picks

1.We consider visible CIR platforms tagged for crypto-backed loans with a tracked borrowing rate; hidden platforms are excluded before ranking.
2.CIR platform ratings are the first general ordering signal, followed by listed starting APR and platform name as tie-breakers.
3.Category labels surface Bitcoin collateral, starting APR, non-custodial structure, non-U.S. access and multi-asset collateral. Because each platform appears only once, a category label does not always identify the absolute leader for that single field.
4.A low advertised APR does not automatically make a loan the best choice; LTV, liquidation rules, fees, custody and geography also matter.
5.Borrowers should obtain a current quote and verify repayment, margin-call and liquidation terms directly with the provider.

Read the full Coin Interest Rate methodology

How to compare crypto-backed loans

Compare the full cost of borrowing rather than the starting APR alone. Maximum LTV, liquidation threshold, margin-call process, origination fees, repayment flexibility and collateral custody all affect the real risk and cost.

A lower starting LTV generally provides more room before liquidation if crypto prices fall. It also means pledging more collateral for the same loan amount, so borrowers need to balance capital efficiency with liquidation risk.

Confirm supported collateral, loan currencies, minimums and jurisdictions.
Ask whether collateral can be rehypothecated or remains segregated.
Review margin-call timing and the exact liquidation threshold.
Include origination, repayment, withdrawal and spread costs in the comparison.

Frequently asked questions

What is the best crypto-backed loan platform?

The first selection is the highest-rated eligible CIR loan platform, with APR used as a tie-breaker. The right choice still depends on your asset, jurisdiction, desired loan size, custody preference and tolerance for liquidation risk.

How does a crypto-backed loan work?

You pledge cryptocurrency as collateral and receive cash or stablecoins without selling it. If the collateral value falls far enough, the lender may require more collateral or liquidate the position under its published rules.

What does LTV mean?

Loan-to-value compares the loan amount with the collateral value. A $5,000 loan backed by $10,000 of crypto starts at 50% LTV. Lower LTV usually leaves more room before liquidation.

Can I lose my collateral?

Yes. A lender may liquidate collateral if its value falls below the required threshold, and platform or custody failures can create additional loss risk. Review the complete loan agreement before borrowing.