Rates, effective APR, max LTV, liquidation thresholds, custody model, and risk — verified against each lender's own terms, with a source link on every row. Now with live price, a loan calculator, a liquidation-price tool, and side-by-side cost comparison.
Live calculators driven by the current Bitcoin price. All figures are estimates for planning only — confirm exact terms with each lender.
| Lender | Margin call at | Liquidation at | BTC price at liquidation | Cushion before liquidation | At this shock |
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| Lender | Rate (APR) | Interest / term | BTC at 50% LTV | Min loan | Risk | Go |
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Each row reflects the lender's entry-level published terms for a Bitcoin-collateralized USD or stablecoin loan. Click a column header to sort.
| Eff. APR | Term | Fees | Custody | Collateral | Network | Risk | Verify |
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↓ tiered — rate drops for larger loans · * see notes · var = variable, moves with market · Eff. APR includes typical fees and is indicative; real cost depends on loan size and term.
Verified against each lender's published terms, 6 Sep 2026. Rates change frequently — always confirm at the source before borrowing.
Every lender that accepts Bitcoin as loan collateral is eligible — centralized (CeFi) and decentralized (DeFi). Each row reflects the lender's entry-level published terms for a Bitcoin-collateralized USD or stablecoin loan, with a link to the source.
APR is the starting or representative rate; tiered lenders price lower at larger sizes. Effective APR folds in typical fees and is indicative only. Liquidation LTV is the threshold at which collateral is sold; for some lenders the figure shown is a margin-call trigger, noted below.
Collateral asset & network. "Native BTC" means the lender holds actual bitcoin on the Bitcoin network (deposited from your own wallet); the risk there is the lender's custody and rehypothecation policy. The DeFi lenders instead take tokenized BTC — WBTC (BitGo-custodied) or cbBTC (Coinbase-issued) — on Ethereum or Base, which adds smart-contract and token-issuer/bridge risk on top, and requires an EVM wallet (e.g. MetaMask) rather than a Bitcoin wallet. Coinbase's product converts your BTC to cbBTC behind the scenes and lends against it on Base via Morpho.
Notes. Ledn: collateral may be re-posted to an institutional funding partner — confirm current custody terms. Strike: rate and minimum vary by source; verify before relying. Unchained: a margin call results in full-position liquidation. SALT: 75% shown is the first margin call, not liquidation. Nexo: lowest rates require holding NEXO tokens; base tier is higher. Xapo Bank: variable rate tracks US Fed rates; regulated-bank custody with conservative 20–40% initial LTV (margin call at 65%, liquidation at 80%). CoinRabbit: supports 350+ collateral assets; the 70% max LTV / 80% liquidation shown is its standard tier — higher-LTV tiers (up to ~90%) use later (90–95%) liquidation. Firefish: P2P marketplace — the "from 5%" rate is the entry of a market-set range; confirm platform fees in the app. Debifi: rates are set by competing institutional lenders (typically ~10–14%); 90% liquidation is the default and can be customised per contract. Lava: interest shown is the Bitcoin Line of Credit rate; a separate 2% annual capital charge applies to the year's maximum outstanding balance, and the liquidation trigger is a dynamic per-loan price shown in the app rather than a fixed LTV.
Risk tiers are an editorial assessment based on custody model, rehypothecation policy, and track record — not a rating or endorsement. Information only, not financial advice.
Watchlist (pending verification): none right now — YouHodler, Figure, APX Lending, and Lantern have been verified against their own published terms and added to the table above.
A relative ranking of these lenders by our methodology — not a safety rating, guarantee, or endorsement. Every Bitcoin-backed loan carries liquidation and counterparty risk.