If you are pricing a Bitcoin-backed loan in August 2026, here is where rates sit, and how to read the numbers before you borrow.
The average all-in rate for a standard $100,000 loan at 50% LTV is 10.42% APR across the six US lenders we track, with the cheapest at 8.75% and the most expensive at 11.49%. But that single number hides the part that matters most: your rate depends on how much you borrow and at what LTV, so we show three scenarios below. For the live picture, the BoB Bitcoin Loan Rate Index is the source.
The headline: $100,000 at 50% LTV
This is the index scenario, a like-for-like comparison of what a $100,000 borrower at 50% LTV would actually be quoted, using the effective APR including any origination fee.
| Lender | All-in APR (August 2026) |
|---|---|
| SALT | 8.75% |
| Figure | 9.76% |
| Arch | 10.49% |
| APX Lending | 10.99% |
| Strike | 11.02% |
| Ledn | 11.49% |
Average 10.42% · median 10.74% · range 8.75% to 11.49%. The cheapest options sit within a couple of points of each other, which is why the sticker rate is rarely the deciding factor. Custody, rehypothecation, and the lender's track record move the real cost and risk more than a fraction of a point on the headline. We cover that in how to choose a lender.
Your rate is still not one number
The same six lenders quote very different rates depending on the loan. Two examples from August 2026, each changing one thing from the headline scenario.
Borrow more: $250,000 at 50% LTV
Several lenders price by loan size, so borrowing more earns a volume discount.
| Lender | All-in APR (August 2026) |
|---|---|
| SALT | 8.75% |
| Figure | 9.76% |
| Arch | 9.99% |
| Strike | 10.47% |
| APX Lending | 10.99% |
| Ledn | 10.99% |
Average 10.16%, down from 10.42% at $100,000. Arch, Strike, and Ledn each step down a tier at the larger size; the lenders that price by LTV instead of amount (SALT, Figure) do not move.
Borrow safer: $100,000 at 30% LTV
A lower LTV means you pledge more Bitcoin per dollar borrowed. For lenders that price by LTV, that earns a better rate, and it leaves far more cushion before a margin call.
| Lender | All-in APR (August 2026) |
|---|---|
| SALT | 7.49% |
| Figure | 9.76% |
| Arch | 10.49% |
| APX Lending | 10.99% |
| Strike | 11.02% |
| Ledn | 11.49% |
The cheapest rate drops to 7.49% (SALT, which prices by LTV), versus 8.75% at 50% LTV. The lenders that price by loan amount do not change with LTV, so the average only moves to 10.21%; the win here is the low end and the bigger safety margin.
The takeaway across all three: the rate you are quoted is a function of loan size and LTV, not a single market number. Model your own numbers with the loan calculator before you commit.
Custodial pricing works differently from onchain pricing
Custodial Bitcoin lending is priced like a credit product, not like a market. A lender publishes a rate card and revises it when something forces the issue: a change in its funding cost, a competitor undercutting it, or a new product tier. Between revisions, the quote you are given is fixed for the term.
Onchain lending is the opposite. A contract recalculates the rate from utilization, so it moves continuously and can shift by several points in a day. If you are weighing the two, DeFi Bitcoin Loan Rates August 2026 is the direct comparison, and what moves the DeFi borrow rate explains the mechanism.
The practical version: on the custodial side, changing your loan size or your LTV moves your quote more than shopping the market on any given week.
How to read these rates
- Use the effective APR. Every figure above is the all-in cost including mandatory origination fees, not the advertised rate. That is the only number that compares lenders fairly. See hidden fees for what the headline rate leaves out.
- Lower LTV is cheaper and safer. Borrowing well below the cap earns better pricing from some lenders and protects you from a forced sale if Bitcoin falls.
- Cheapest is not always the right fit. Weigh custody, rehypothecation, and track record alongside rate. A lender that re-lends your collateral or has no operating history is a different risk than one that does not, even at the same APR.
This is a monthly snapshot
These are August 2026 figures, captured from our daily tracking and last verified on 16 August. Rates change, so for the current week always check the live BoB Bitcoin Loan Rate Index, and you can download the full rate history as CSV or JSON from our data page. The previous edition is Bitcoin Loan Rates July 2026. For the onchain side of the market, see DeFi Bitcoin Loan Rates August 2026, where variable rates run about six points lower and move daily.
borrow/on/bitcoin is a comparison publisher, not a lender. We may earn a commission if you open a loan through a link on this page, which does not affect the rates shown or the order they appear in. Nothing here is a recommendation of one provider over another, and nothing here is financial advice. Verify all rates and terms directly with the lender before borrowing.