Bitcoin Loans by State
Where you live doesn’t change your rate. It changes which lenders will take you — and what selling instead would have cost you in tax.
Availability verified July 17, 2026 · Verified daily
Lender availability by state
| State | Lenders | |
|---|---|---|
| Alabama | 8 of 8 | → |
| Alaska | 8 of 8 | → |
| Arizona | 8 of 8 | → |
| Arkansas | 8 of 8 | → |
| California | 7 of 8 | → |
| Colorado | 8 of 8 | → |
| Connecticut | 8 of 8 | → |
| Delaware | 7 of 8 | → |
| District of Columbia | 7 of 8 | → |
| Florida | 8 of 8 | → |
| Georgia | 8 of 8 | → |
| Hawaii | 7 of 8 | → |
| Idaho | 6 of 8 | → |
| Illinois | 7 of 8 | → |
| Indiana | 8 of 8 | → |
| Iowa | 8 of 8 | → |
| Kansas | 8 of 8 | → |
| Kentucky | 7 of 8 | → |
| Louisiana | 8 of 8 | → |
| Maine | 8 of 8 | → |
| Maryland | 7 of 8 | → |
| Massachusetts | 7 of 8 | → |
| Michigan | 8 of 8 | → |
| Minnesota | 8 of 8 | → |
| Mississippi | 6 of 8 | → |
| Missouri | 8 of 8 | → |
| Montana | 7 of 8 | → |
| Nebraska | 8 of 8 | → |
| Nevada | 7 of 8 | → |
| New Hampshire | 8 of 8 | → |
| New Jersey | 8 of 8 | → |
| New Mexico | 7 of 8 | → |
| New York | 7 of 8 | → |
| North Carolina | 8 of 8 | → |
| North Dakota | 6 of 8 | → |
| Ohio | 8 of 8 | → |
| Oklahoma | 8 of 8 | → |
| Oregon | 8 of 8 | → |
| Pennsylvania | 8 of 8 | → |
| Rhode Island | 7 of 8 | → |
| South Carolina | 7 of 8 | → |
| South Dakota | 6 of 8 | → |
| Tennessee | 8 of 8 | → |
| Texas | 6 of 8 | → |
| Utah | 8 of 8 | → |
| Vermont | 5 of 8 | → |
| Virginia | 7 of 8 | → |
| Washington | 8 of 8 | → |
| West Virginia | 8 of 8 | → |
| Wisconsin | 8 of 8 | → |
| Wyoming | 8 of 8 | → |
“Lenders” counts the 8 US Bitcoin-backed loan lenders we track. Vermont has the fewest coverage at 5. Availability reflects each lender’s stated state coverage, verified daily.
What actually changes by state
Not your rate. Lenders price on loan size, LTV, and term — not geography. A $100,000 loan costs the same in Wyoming as in New York.
Your choice of lender. Consumer-lending licenses are issued state by state, so the roster that will take you varies. 30 of 51 jurisdictions have all 8 lenders available; the rest have fewer. These are licensing gaps, not Bitcoin restrictions — the same lenders operate freely one state over.
The tax of not selling. The real state variable shows up only if you sell instead of borrow: selling realizes a capital gain, and while federal tax applies everywhere, 9 states add no income tax of their own and others do. Washington is the trap — no income tax, but a 7% capital-gains excise tax on large gains. The per-state detail lives on each state’s page; a state-by-state breakeven calculator is in the works.
Is the loan interest deductible?
Usually not — and it doesn’t depend on your state. It depends on what you do with the money. Interest on a Bitcoin-backed loan is not deductible as personal interest (IRC §163(h)). It may qualify as investment interest expense under §163(d) only if you can trace the proceeds to an investment purpose (Treas. Reg. §1.163-8T), you itemize, and you have net investment income to offset it against.
Borrow $100K against your Bitcoin to buy a car: not deductible. To buy securities: possibly, capped at your net investment income. Same lender, same rate, same state — opposite answers. That’s why deductibility is a use-of-proceeds question, not a state one. General information, not tax advice.
Frequently asked
Are Bitcoin-backed loans available in every US state?
Close to it. Of the 8 US Bitcoin-backed loan lenders we track, most jurisdictions have all 8 available and a handful have fewer. Coverage gaps come from state consumer-lending licenses, not Bitcoin-specific rules.
Does my state change the rate I pay?
No. Lenders price on loan size, LTV, and term — not geography. A $100,000 loan costs the same in Wyoming as in New York. What your state changes is which lenders will take you.
Why do some lenders skip certain states?
State-by-state consumer-lending licensing. A lender can operate freely in one state and not its neighbor because of licensing requirements, not because of anything specific to Bitcoin.
Is the interest on a Bitcoin-backed loan tax deductible?
Usually not — and it does not depend on your state. It depends on what you do with the money. Personal-use interest is not deductible (IRC §163(h)); it may qualify as investment interest expense (§163(d)) only with tracing, itemizing, and net investment income. This is general information, not tax advice.
What if I sell my Bitcoin instead of borrowing?
Selling realizes a capital gain, and federal capital-gains tax applies in every state. Some states add their own tax on the gain and some do not. Each state’s page covers how that state treats it.
Rates don’t change by state — but they change by loan size.
Run your numbers against every lender that serves you.
borrowonbitcoin.com is an independent comparison publisher, not a lender, broker, or registered investment advisor. Availability verified daily against each lender’s published state coverage; tax notes are general information, not tax advice. How we verify.