CoinRabbit vs Unchained
Maximum LTV and speed against collaborative multisig you help control.
Rates as of June 2026 · Verified weekly · By Michael Song
CoinRabbit$100k loan, 50% LTV · Max LTV 90%
Unchained$100k loan, 50% LTV · Max LTV 50%
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The bottom line
They sit at opposite ends. CoinRabbit allows up to 90% LTV with no origination or liquidation fee and fast funding, holding collateral itself, at around 11.95%. Unchained is the most expensive (around 14.18%) but its 2-of-3 multisig means you hold a key and no party can move the collateral alone. Choose CoinRabbit for leverage and speed; choose Unchained if verifiable, key-in-hand custody is the priority.
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 Unchained, side by side
| CoinRabbit | Unchained | |
|---|---|---|
| Effective APR$100k loan, 50% LTV, all-in | 16.8% | 14.18% |
| Starting APR | 11.95% | 14.18% |
| Origination fee | None | 2% |
| Liquidation fee | None | 2% |
| Max LTV | 90% | 50% |
| Custody model | Lender-held | Collaborative multisig (Fortis Bank) |
| Rehypothecation | No | No |
| Margin-call cure window | No formal window | 24 hours |
| Funding speed | Same day to 1 day | 2 days |
| Minimum loan | $100 | $150,000 |
| Maximum loan | No stated maximum | $1,000,000 |
| Loan terms | Open-ended (no fixed maturity date) by default; 30-day fixed-term option available at reduced rate | 90 to 360 days; standard is 360 days (interest-only, principal at maturity); refinance available at maturity but requires new application |
| Prepayment | No prepayment penalties. Repay in full or partial at any time with no fixed schedule. | No prepayment penalty. Origination fee is non-refundable on early payoff. |
| Operating since | 2020 | 2016 |
| Availability | All 50 states | All 50 states |
Rates and fees
On a $100,000 loan at 50% LTV, Unchained is the cheaper borrow: an all-in effective APR of about 14.18% versus 16.8% at CoinRabbit, a gap of roughly 2.62 points before fees. CoinRabbit charges no origination fee, while Unchained adds 2% up front, which raises Unchained's true cost on shorter loans. If a position is liquidated, CoinRabbit charges the smaller penalty (0% vs 2%).
Custody and counterparty risk
CoinRabbit holds collateral via lender-held, while Unchained uses collaborative multisig (Fortis Bank). With Unchained, the collateral sits in a collaborative multisig where you hold one of the keys, so no single party can move your Bitcoin alone, the closest model here to self-custody. 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; Unchained offers 90 to 360 days; standard is 360 days (interest-only, principal at maturity); refinance available at maturity but requires new application. On a margin call, CoinRabbit gives no formal cure window and Unchained gives a 24-hour cure window, the time you have to add collateral or repay before a forced sale.
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 $150,000 at Unchained. Funding runs same day to 1 day at CoinRabbit and 2 days at Unchained.
Track record and availability
Unchained has the longer history, operating since 2016 versus 2020.
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
Unchained
- Multisig collaborative custody, borrower holds 1 of 3 keys
- Non-rehypothecation verifiable on-chain
- Operating since 2016
- Bitcoin-only focus
- $150K minimum loan, not suitable for smaller borrowing needs
- Commercial-only positioning
- Rates by consultation, not publicly posted
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.
Unchained
Operating since 2016. Multisig collaborative custody: borrower holds 1 of 3 keys. Non-rehypothecation is verifiable on-chain. $150K-$1M loan range. Rates by consultation; not publicly posted.
Frequently asked
Is CoinRabbit or Unchained cheaper?
On a $100,000 loan at 50% LTV, Unchained is cheaper, with an all-in effective APR of about 14.18% versus 16.8%. CoinRabbit also charges no origination fee, while Unchained adds 2% up front.
Which has lower custody risk, CoinRabbit or Unchained?
CoinRabbit uses lender-held and Unchained uses collaborative multisig. Neither rehypothecates pledged collateral.
Can I borrow more with CoinRabbit or Unchained?
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.
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borrowonbitcoin.com is a comparison publisher, not a lender or financial advisor. Rate data verified June 9, 2026. How we verify rates · Full disclosures.