Lender Comparison
Ledn vs Unchained
Side-by-side comparison of rates, custody models, and loan terms. Data verified May 16, 2026.
| Ledn | Unchained | |
|---|---|---|
| APR (min) | 9.99% | 14.18% |
| APR (max) | 11.49% | 14.18% |
| Max LTV | 50% | 50% |
| Min loan | — | — |
| Max loan | No stated max | No stated max |
| Custody model | lender pool | multisig collaborative |
| Rehypothecation | No | No |
| Funding speed | — | — |
| States | — | — |
Ledn
Operating since 2018; + originated. Two custody options at identical rates: Standard (collateral pooled and re-lent) or Custodied (collateral held securely, not re-lent to generate interest). Rates tiered 9.99%%–11.49%% by loan size, plus 2%% admin fee. Investment-grade BBB- ABS issuance March 2026. Tether strategic investment Nov 2025.
Full Ledn review →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.
Full Unchained review →Compare all 15 lenders
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