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Articles & Guides
Everything we've published on borrowing against Bitcoin: guides and analysis, head-to-head lender comparisons, calculators, and a plain-English glossary. Newest first.
Latest
Bitcoin Loan Rates August 2026: Where APRs Stand and How to Compare Lenders
Current Bitcoin-backed loan rates for August 2026: the average all-in APR at $100k and 50% LTV across US lenders, plus how borrowing more or at a lower LTV changes your rate.
DeFi Bitcoin Loan Rates August 2026: Onchain Borrow APRs Across Protocols
Current onchain Bitcoin borrow rates for August 2026: the TVL-weighted average variable USDC APR against wrapped Bitcoin across 10 DeFi protocols, how much they moved during the month, and how they compare to centralized lenders.
Updated
Bitcoin Loan Rates July 2026: Where APRs Stood Across US Lenders
Bitcoin-backed loan rates for July 2026: the average all-in APR at $100k and 50% LTV across the six US lenders in our index, what changed during the month, and how the figures compare to June and August.
Updated
DeFi Bitcoin Loan Rates July 2026: Onchain Borrow APRs Across Protocols
Onchain Bitcoin borrow rates for July 2026: the TVL-weighted average variable USDC APR against wrapped Bitcoin across 10 DeFi protocols, how far individual markets moved during the month, and how they compared to centralized lenders.
Updated
PowerCompute's 2% Bitcoin Loan from Arch Lending, Decoded: How the $18M Collar Facility Works
PowerCompute refinanced $18M against 307 BTC at 2% APR with Arch Lending. We pulled the 8-K and read the collar annex: the filed floor, the filed ceiling, the 15% bridge, and why both sides came out ahead.
If Your Stack Could Pay Off Your Mortgage, Would You?
Reddit argues the interest rate decides it. The bigger variable is when. A worked example of a $400,000 mortgage against a 10 BTC stack, priced across the cycle, with the coverage ratio and the after-tax hurdle that actually settle it.
Updated
Exclusive Bitcoin Loan Rates Through Borrow on Bitcoin
Some lenders price Bitcoin-backed loans below their public rates for borrowers who start through Borrow on Bitcoin. Arch takes 0.50% off both its Standard and Deferred loans, Ledn up to 0.25% off, and Figure adds up to $100 in bonuses with code BORROWONBITCOIN.
Which Bitcoin Lenders Publish Proof of Reserves, and What It Actually Proves (2026)
Two of the ten active US Bitcoin lenders publish a third-party reserves attestation. Here is who, what their reports cover, and the four things proof of reserves does not tell you.
The Custody Premium: What a Custodian Actually Costs You (2026)
Custodial Bitcoin lenders charge about six percentage points more than on-chain protocols. We measure that gap daily. Here is what the premium buys, and when it is worth paying.
Stacks vs Ethereum vs Solana: What the Chain Changes About a Bitcoin Loan (2026)
Borrowing against Bitcoin on-chain means choosing a network before you choose a protocol. What changes across Ethereum, Base, Stacks, Solana and the rest, and why the cheapest rates sit where they do.
Which Bitcoin Lenders Offer Collaborative Custody or Multisig? (2026)
Only one active US Bitcoin lender holds collateral in collaborative multisig. Here is who does, who uses a qualified custodian instead, and why those two are not the same thing.
What Happens in a DeFi Bitcoin Loan Liquidation (2026)
An on-chain liquidation has no margin call, no cure period, and no one to phone. Here is the sequence, the buffer each protocol gives you, and how it differs from a CeFi margin call.
How Bitcoin Lenders Price a Loan (2026)
Your rate is not one number. It moves with loan size, LTV tier, term and origination fee, and the advertised headline is usually the best case. How each lever works and what actually determines your cost.
How Does Arch Compare to Other Bitcoin Lenders? (2026)
Arch against Ledn, Strike, SALT, Figure, APX, CoinRabbit, Nexo and Unchained. Where its qualified custody and low starting rate win, and where its origination fee and 24-hour cure window cost you.
How Does Ledn Compare to Other Bitcoin Lenders? (2026)
Ledn against APX, Arch, Strike, SALT, Nexo, Figure and Unchained. Where its proof-of-reserves record and qualified custody win, and where its full liquidation and 50% LTV cap cost you.
What Moves the DeFi Borrow Rate (2026)
An on-chain borrow rate is not a quote. It is an output of pool utilisation that resets every block, with no ceiling. How the curve works, why rates jump, and what that means if you are borrowing.
Wrapped Bitcoin Explained: cbBTC, wBTC, sBTC and What You Are Actually Pledging (2026)
Borrow against Bitcoin on-chain and you do not pledge Bitcoin. You pledge a token representing it. Who issues each wrapper, how you redeem it, and what breaks if the issuer does.
Updated
Best Bitcoin Credit Cards of July 2026
Compare bitcoin rewards credit cards, crypto-collateralized spending cards and BTC debit cards, with the rewards, balance-transfer and tax math most reviews skip.
Updated
Best Bitcoin-Backed Mortgage Loans of July 2026
Compare crypto mortgage lenders, rates, margin call rules, and how to qualify for a mortgage with crypto, all without selling your bitcoin. Eight programs, three structures, verified July 2026.
Granite Joins the Borrow on Bitcoin DeFi Rate Index (2026)
We added Granite, a Bitcoin liquidity protocol on the Stacks layer-2, to our DeFi Rate Index. What Granite is, the rate it lists at, and what it adds to the onchain index.
Figure Is Giving Borrow on Bitcoin Readers Up to $100 in Bonuses (2026)
Figure created a BORROWONBITCOIN promo code for our readers: $50 for taking a crypto-backed loan and $50 for funding your account, plus a referral bonus. Here is exactly how it works.
Zest Protocol Joins the Borrow on Bitcoin DeFi Rate Index (2026)
We added Zest Protocol, a Bitcoin lending market on the Stacks layer-2, to our DeFi Rate Index. What Zest is, the rate it lists at, and what it adds to the onchain index.
What Loan Features Bitcoin Borrowers Actually Want
Every calculator request and lender click-out since inception, distilled to the five features that decide where Bitcoin borrowers go: custody, payment structure, term, fees, and rate design.
Updated
Bitcoin Loan Data - Key Insights from BoB's First Month
In its first month live, Borrow on Bitcoin logged over $100 million in loan demand at a median loan-to-value ratio of 26.3%. Here’s what that Bitcoin loan data says about a market traditional investors keep underestimating.
Updated
Bitcoin Loans: How They Work, Rates, and How to Compare Lenders (2026)
Everything you need to know about bitcoin-backed loans: how they work, current rates, LTV, custody risk, and how to compare lenders independently.
Bitcoin Is Down — What Do I Do With My Loan?
Bitcoin dropped and your loan-to-value is climbing. A calm, math-first playbook: find your liquidation price, then decide whether to pay in capital or refinance — with the exact numbers to use.
Updated
DeFi Bitcoin Loan Rates June 2026: Onchain Borrow APRs Across Protocols
Current onchain Bitcoin borrow rates for June 2026: the average variable USDC APR against wrapped Bitcoin across DeFi protocols, and how they compare to centralized lenders.
Bitcoin Debit Cards: How They Work and How to Compare (2026)
How bitcoin debit cards work, how they differ from credit and rewards cards, the fees and custody to check, and why every spend can be a taxable sale.
How Do IBIT Options and ETF Borrowing Power Work? (2026)
How options on spot bitcoin ETFs like IBIT work, covered calls, protective puts, cash-secured puts, and how they interact with margin and borrowing.
How to Refinance a Bitcoin Loan: The Complete 2026 Guide
How to refinance a Bitcoin-backed loan: refinance vs renew vs roll over vs upsize, the break-even math, what each lender charges, the tax angle, and the risks.
Should You Borrow Against Bitcoin or Sell It? (2026)
Why borrowing against bitcoin generally defers capital gains while selling triggers them, the real cost comparison, and when selling still wins.
Coinbase vs APX Lending: Bitcoin Loan Comparison (2026)
Coinbase's DeFi USDC loan vs APX Lending's no-fee, qualified-custodian loan: rate, LTV, custody, liquidation, and payout compared so you can see which fits.
Coinbase vs Arch: Bitcoin Loan Comparison (2026)
Coinbase's DeFi USDC loan vs Arch's low-rate, qualified-custodian dollar loan: rate, LTV, custody, liquidation, and payout compared so you can see which fits.
Coinbase vs CoinRabbit: Bitcoin Loan Comparison (2026)
Coinbase's DeFi USDC loan vs CoinRabbit's high-LTV, fast-funding loan: rate, LTV, custody, liquidation, and payout compared so you can see which fits.
Coinbase vs Figure: Bitcoin Loan Comparison (2026)
Coinbase's DeFi USDC loan vs Figure's higher-LTV dollar loan from a public company: rate, LTV, custody, liquidation, and payout compared so you can see which fits.
Coinbase vs Nexo: Bitcoin Loan Comparison (2026)
Coinbase's DeFi USDC loan vs Nexo's revolving credit line: rate, LTV, custody, rehypothecation, liquidation, and payout compared so you can see which fits.
Coinbase vs Strike: Bitcoin Loan Comparison (2026)
Coinbase's DeFi USDC loan vs Strike's fee-free in-app dollar loan: rate, LTV, custody, liquidation, and payout compared so you can see which fits.
Updated
Bitcoin Loan Rates June 2026: Where APRs Stand and How to Compare Lenders
Current Bitcoin-backed loan rates for June 2026: the average all-in APR at $100k and 50% LTV across US lenders, plus how borrowing more or at a lower LTV changes your rate.
Updated
Is Borrowing Against Bitcoin a Taxable Event?
Borrowing against Bitcoin generally is not a taxable event; selling is. How collateral is treated for US taxes, the gray areas, and what to confirm with a CPA.
Updated
How to Borrow Against Bitcoin: A Step-by-Step Guide (2026)
How to borrow against your Bitcoin without selling it: the five steps, how much you can borrow, what it costs, the liquidation risk, and how to pick a lender.
Bitcoin-Backed Loans: What RIAs and Wealth Managers Should Consider (2026)
A diligence framework for advisors fielding client questions about borrowing against bitcoin: liquidation risk, custody and rehypothecation, effective cost, tax treatment, and how it compares to an SBLOC.
How to Handle a Bitcoin Loan Margin Call (2026)
A calm, step-by-step playbook for what to do when you get a bitcoin loan margin call: your options in order, how much to add, your cure window, and what not to do.
CeFi vs DeFi Bitcoin Loans: The Complete 2026 Guide
How CeFi and DeFi Bitcoin loans differ on custody, rates, liquidation, KYC, wrapping, and tax, using Coinbase's Morpho-powered USDC loan as the DeFi example.
Coinbase Bitcoin Loan Review (2026): USDC Loans via Morpho
An independent review of Coinbase's Bitcoin-backed USDC loan: how the Morpho-powered product works, the variable rate, 86% liquidation, custody, and catches.
Can You Get a Mortgage Through Coinbase?
How the Coinbase and Better Bitcoin mortgage works: a Fannie Mae conforming home loan plus a crypto-secured down-payment loan, what you pledge, and the catches.
Can You Borrow Against XRP, Dogecoin, or Solana? (2026)
Coinbase now lets you borrow against more than Bitcoin. How ETH and altcoin loans work, and why the altcoin markets carry a tighter 62.5% liquidation risk.
What Is the Coinbase Morpho Loan? The DeFi Backend Explained
Coinbase's Bitcoin loan runs on Morpho, not Coinbase's balance sheet. What Morpho is, who sets your rate, and what it means for your risk, explained plainly.
Coinbase vs Ledn: Bitcoin Loan Comparison (2026)
Coinbase's DeFi USDC loan vs Ledn's centralized dollar loan: rate, LTV, custody, liquidation, and payout compared, so you can see which fits.
Coinbase vs SALT: Bitcoin Loan Comparison (2026)
Coinbase's DeFi USDC loan vs SALT's dollar loan with stabilization: rate, LTV, custody, margin-call handling, and terms compared.
Coinbase vs Unchained: Bitcoin Loan Comparison (2026)
Coinbase's DeFi USDC loan vs Unchained's collaborative-multisig loan: who controls the keys, rate, LTV, and liquidation compared.
Is Wrapping Bitcoin to cbBTC a Taxable Event?
Borrowing on Coinbase converts BTC to cbBTC. Whether that wrap is a taxable event is unsettled. The two positions, what the experts say, and how to be careful.
What Do Bitcoin Loans Actually Cost Beyond the Interest Rate? (2026)
A plain-English guide to bitcoin-backed loan fees: origination, liquidation, the 360-day interest trick, conversion spreads, renewal, and the true all-in cost.
SALT Cuts Bitcoin Loan Rates Across the Board (2026): New APRs From 7.49%
SALT lowered its Bitcoin-backed loan rates across every LTV tier and term and dropped origination to zero. The full before-and-after and what it means.
Borrow Against Your Bitcoin ETF: How IBIT Margin Loans Work (2026)
How to borrow against a spot Bitcoin ETF like IBIT on brokerage margin: how much you can borrow, the cost, the margin-call risk, and how US brokers compare.
Are Bitcoin Loans Safe? An Honest Look at the Real Risks (2026)
An honest, risk-by-risk look at bitcoin-backed loans: liquidation, custody, rehypothecation, cost, and regulation, plus how to borrow more safely.
Bitcoin Business Loans: Fund Your Company Without Selling Your BTC (2026)
A vendor-neutral guide to bitcoin business loans: how borrowing against bitcoin works, how it compares to an SBA loan or bank line, and the risk that matters.
Where Does Your Bitcoin Actually Go During a Loan? (2026)
Where your bitcoin is held during a loan, what rehypothecation is and why it sank the 2022 lenders, the custody spectrum, and how to vet a lender.
What Happens to a Bitcoin Loan When the Price Drops? (2026)
How margin calls and liquidation work on a bitcoin-backed loan: the LTV thresholds that trigger them, what liquidation does, and how lenders differ.
Bitcoin Auto Loans: How to Buy a Car Without Selling Your BTC (2026)
A vendor-neutral guide to bitcoin auto loans: how borrowing against bitcoin to buy a car works, what it costs, the margin-call risk, and the tax angle.
Guides & analysis
Updated
Sell or Borrow Against Bitcoin? A 2026 Decision Framework
Tax timing, custody risk, cashflow drag, and reinvestment risk: the qualitative factors behind selling vs. borrowing, with an embedded calculator for the numbers.
Updated
Bitcoin Mortgages 2026: Buy Real Estate with BTC
How Bitcoin-backed and qualify-with-crypto mortgages work, who offers them, and how the lender models differ.
Updated
Bitcoin Loans: No Credit Check Required
Why Bitcoin-backed loans skip the credit check, how collateral-based underwriting works, and which lenders fund fastest.
Lender comparisons
Browse by feature
Bitcoin loans by state
Which Bitcoin-backed loan lenders serve each US state, with availability and rates verified daily.
Calculators
Bitcoin Liquidation Price Calculator
Find the exact Bitcoin price at which your loan would be liquidated, given your collateral, loan amount, and the lender's threshold.
Sell vs. Borrow Bitcoin Calculator
Compare the after-tax cash from selling against the cost of borrowing the same amount, side by side.
Bitcoin Loan Calculator: LTV & Margin Call
Model your loan-to-value, estimated monthly cost, and the Bitcoin price that would trigger a margin call.
Glossary
Plain-English definitions of the terms that matter when borrowing against Bitcoin. See the full glossary →
Lender reviews
In-depth reviews of every Bitcoin-backed lender we track: rates, custody, and risks. Browse all lender reviews →
borrowonbitcoin.com is a comparison publisher, not a lender or financial advisor. Full disclosures.