CoinRabbit vs Ledn
Maximum LTV and speed against independent multi-custodian storage and a long record.
Rates as of June 2026 · Verified weekly · By Michael Song
Ledn$100k loan, 50% LTV · Max LTV 50%
Some “Visit” links are affiliate links. That never affects which lenders we include, the data we show, or how we order results. See disclosures.
The bottom line
CoinRabbit allows up to 90% LTV with no origination or liquidation fee and fast funding, but holds collateral itself rather than with a third party. Ledn caps LTV at 50%, charges no origination fee, spreads collateral across three qualified custodians (BitGo, Anchorage, and Fidelity), and has operated since 2018. Both start in a similar range. Choose CoinRabbit for leverage and speed; choose Ledn for independent custody and track record.
Conditional guidance, not a recommendation. The right pick depends on your loan size, LTV, state, and what you value most. Rates can change; the table below is the live source.
CoinRabbit vs Ledn, side by side
 CoinRabbit | Ledn | |
|---|---|---|
| Effective APR$100k loan, 50% LTV, all-in | 16.8% | 11.49% |
| Starting APR | 11.95% | 9.25% |
| Origination fee | None | None |
| Liquidation fee | None | None stated |
| Max LTV | 90% | 50% |
| Custody model | Lender-held | Qualified custodian (BitGo, Anchorage Digital, Fidelity Digital Assets) |
| Rehypothecation | No | No |
| Margin-call cure window | No formal window | No formal window |
| Funding speed | Same day to 1 day | 1 day |
| Minimum loan | $100 | $1,000 |
| Maximum loan | No stated maximum | No stated maximum |
| Loan terms | Open-ended (no fixed maturity date) by default; 30-day fixed-term option available at reduced rate | 12 months, renewable |
| Prepayment | No prepayment penalties. Repay in full or partial at any time with no fixed schedule. | No prepayment penalty |
| Operating since | 2020 | 2018 |
| Availability | All 50 states | 44 states (excludes 6) |
Rates and fees
On a $100,000 loan at 50% LTV, Ledn is the cheaper borrow: an all-in effective APR of about 11.49% versus 16.8% at CoinRabbit, a gap of roughly 5.31 points before fees. Neither charges an origination fee, so the headline rate is closer to the real cost.
Custody and counterparty risk
CoinRabbit holds collateral via lender-held, while Ledn uses qualified custodian (BitGo, Anchorage Digital, Fidelity Digital Assets). Neither rehypothecates collateral.
Loan terms and flexibility
CoinRabbit offers open-ended (no fixed maturity date) by default; 30-day fixed-term option available at reduced rate; Ledn offers 12 months, renewable. Ledn can run with no monthly payments, with interest deferring and capitalizing to the balance, while CoinRabbit expects you to service interest along the way.
Leverage, limits, and speed
CoinRabbit allows the higher maximum LTV (90% vs 50%), so you can borrow more per Bitcoin, at the cost of a thinner buffer before a margin call if the price falls. Minimums differ: $100 at CoinRabbit versus $1,000 at Ledn. Funding runs same day to 1 day at CoinRabbit and 1 day at Ledn.
Track record and availability
Ledn has the longer history, operating since 2018 versus 2020. On availability, CoinRabbit covers all 50 states, while Ledn excludes 6.
Strengths and trade-offs
CoinRabbit
- $100 minimum loan
- ~10 minute funding
- 350+ collateral assets supported
- Available globally
- $1.45B+ originated
- Specific qualified custodian not publicly disclosed
- No state-by-state US breakdown available
- Non-rehypothecation is claimed but not third-party verifiable
Ledn
- Operating since 2018, longest track record in this comparison
- $10B+ originated including institutional ($2.8B+ retail), per Ledn
- No customer losses across three market cycles, per Ledn
- No monthly payments and no prepayment penalty; interest accrues daily and is settled at maturity
- Third-party qualified custody (BitGo, Anchorage, Fidelity Digital Assets); no rehypothecation
- No formal cure window: a 70% LTV alert and an 80% liquidation, so you must act on collateral alerts (auto-top-up can manage this automatically)
- Deferred interest accrues to maturity; rolling it into a refinance capitalizes it into principal and pushes your LTV toward liquidation. Refinancing is free under current policy, which Ledn says may change.
About each lender
CoinRabbit
Operating since November 2020. $1.45B+ originated. Low $100 minimum loan, ~10 minute funding, 350+ collateral assets supported. Specific qualified custodian not disclosed publicly.
Ledn
Operating since 2018, the longest track record among lenders in this comparison. Collateral is held by third-party qualified custodians (BitGo, Anchorage, Fidelity Digital Assets) and is not rehypothecated. All-in APR is tiered by loan size from 11.49% down to 9.25%, with no separate US origination fee. Maximum LTV 50%. Investment-grade BBB- ABS issuance March 2026. Ledn reports $10B+ originated including institutional ($2.8B+ retail) with no customer losses across three market cycles.
Frequently asked
Is CoinRabbit or Ledn cheaper?
On a $100,000 loan at 50% LTV, Ledn is cheaper, with an all-in effective APR of about 11.49% versus 16.8%.
Which has lower custody risk, CoinRabbit or Ledn?
CoinRabbit uses lender-held and Ledn uses qualified custodian. Neither rehypothecates pledged collateral.
Can I borrow more with CoinRabbit or Ledn?
CoinRabbit allows the higher maximum LTV (90% versus 50%), so you can borrow more per Bitcoin pledged. The trade-off is a thinner buffer before a margin call if Bitcoin's price drops.
Compare every lender for your numbers
Filter by loan amount, BTC holdings, state, and custody preference to see who actually fits.
Open the comparison tool →More lender comparisons
borrowonbitcoin.com is a comparison publisher, not a lender or financial advisor. Rate data verified June 9, 2026. How we verify rates · Full disclosures.