Coinbase started with Bitcoin, but through 2026 it widened its crypto-backed loans to a range of assets. If you hold ETH, XRP, Dogecoin, Cardano, Litecoin, or Solana, you can now borrow against them too. The mechanics are familiar, but one parameter changes the risk meaningfully, and it is easy to miss.
This is an independent explainer, not advice. Figures are a snapshot; confirm current terms in the Coinbase app.
What you can borrow against
The loans all run on the Morpho protocol on the Base network and pay you USDC, the same engine as the Bitcoin loan. The limits differ by asset:
- Bitcoin: up to about $5 million.
- ETH and staked ETH (cbETH): up to about $1 million.
- XRP, Dogecoin, Cardano, Litecoin, Solana: up to about $100,000.
The catch: a tighter liquidation threshold
Here is the parameter that matters most. The Bitcoin and ETH markets liquidate at 86 percent loan-to-value. The altcoin markets liquidate at 62.5 percent, a much tighter buffer.
That difference compounds with volatility. These assets tend to swing harder than Bitcoin, and the lower threshold means a smaller drop pushes you into automatic liquidation. As with every Coinbase loan, liquidation is enforced on-chain with no cure window and no one to call. So the same loan-to-value that feels comfortable on Bitcoin can be dangerous on a more volatile coin with a 62.5 percent line.
How these loans work, briefly
The structure is identical to the Bitcoin product: your collateral is wrapped and supplied to a Morpho market, you receive USDC (not dollars), the rate is variable with no ceiling, there is no origination fee, and repayment is open-ended while your loan stays healthy. The custody and smart-contract considerations are the same too. For the full mechanics and the trade-offs, read our Coinbase loan review and our explainer on how the Morpho backend works.
The bottom line
Borrowing against an altcoin on Coinbase is the same product with a riskier setting. If you do it, the 62.5 percent threshold argues for borrowing well below the limit and watching the position closely. If you would rather borrow against Bitcoin specifically, or want US dollars from a centralized lender with a cure window instead, compare your options in our main comparison and the BOB Bitcoin Loan Rate Index.