This is the July 2026 edition of our monthly rate report, covering the six US Bitcoin-backed lenders in the BoB Bitcoin Loan Rate Index.
Published 31 July 2026. Updated 17 August 2026 with the comparison to the following month.
The average all-in rate for a standard $100,000 loan at 50% LTV was 10.42% APR through July, with the cheapest at 8.75% and the most expensive at 11.49%.
A note on this edition. It reports the index scenario only. Our rate history keeps that figure for every day, so the numbers below are exact, but the loan-size and LTV breakdowns that appear in the June and August editions are computed from live lender pricing tiers and cannot be restated for a past month. Rather than present a later month's tiers as July's, this edition leaves them out.
The headline: $100,000 at 50% LTV
A like-for-like comparison of what a $100,000 borrower at 50% LTV would have been quoted, using the effective APR including any origination fee. Figures as at 31 July 2026, and identical on every other day of the month.
| Lender | All-in APR (July 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%. All six lenders were last verified on 31 July 2026.
What moved in July
Nothing, among the six index lenders. Each published the same rate on all 31 daily snapshots.
The one change among lenders we cover was Nexo, which cut its US published rate from 18.9% to 15.9% on 15 July. Nexo is excluded from the index basis because it publishes global rather than confirmed US-specific rates, and CoinRabbit is excluded because it does not publish rate-tier data. Neither affects the average above. The index methodology covers how membership is decided.
For context on either side of the month, the daily index averaged 10.50% in June and 10.42% in August. June reads slightly higher because two lenders cut rates mid-month, so the first half of June is measured at the older levels.
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. 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 historical snapshot
These are July 2026 figures and should not be used to price a loan today. For current numbers use the live BoB Bitcoin Loan Rate Index, and you can download the full rate history as CSV or JSON from our data page. The neighbouring editions are June 2026 and August 2026. For the onchain side of the market that month, see DeFi Bitcoin Loan Rates July 2026.
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.