Bitcoin Lender Reviews

APX Lending

Regulated crypto-backed lender serving US and Canadian borrowers, with no credit checks and no origination or management fees. Collateral (BTC, ETH) is held in segregated, insured cold storage with BitGo Trust. US loans start at 25,000 dollars with tiered APRs.

Arch (Deferred)

Bitcoin-backed loan with Anchorage Digital qualified custody, segregated wallets, $100M Lloyd's of London insurance, and explicit no-rehypothecation policy. The Deferred Interest variant (launched May 2026) carries no monthly payments, interest accrues to maturity or rolls into the next loan.

Arch (Standard)

Bitcoin-backed loan with Anchorage Digital qualified custody, segregated wallets, $100M Lloyd's of London insurance, and explicit no-rehypothecation policy. Multi-collateral: BTC, ETH, SOL.

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.

Figure

Publicly traded on Nasdaq (FIGR; $7.6B IPO Sept 2025). Crypto-backed loans are offered through Figure Markets; collateral is held via Fireblocks MPC custody, operated by Figure itself rather than an independent qualified custodian, and is not rehypothecated. No credit check. 12-month term. Also offers a HELOC product where BTC can be posted in escrow alongside home equity.

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.

Nexo

Nexo offers instant crypto-backed credit lines, letting you borrow against Bitcoin without selling. After a 2022 US exit and a 2023 SEC settlement over its Earn product, Nexo relaunched in the US in February 2026 through regulated partner Bakkt. US-specific credit-line terms had not been separately published as of mid-2026.

SALT

Operating since 2016. APR tiered by LTV: 9.95% at 30% LTV, 10.95% at 50%, 14.45% at 70%. Loan agreement states it does not rehypothecate (no third-party lending of collateral). California DFPI consent order in 2024; SEC fined in 2020 for unregistered ICO; paused withdrawals Nov 2022.

Strike

Bitcoin-only loans with no origination fee. Collateral held by Strike or capital partners in segregated wallets, no named third-party qualified custodian. Proof-of-reserves published. $2.1B credit facility with Tether.

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.

Better

First Fannie Mae-conforming crypto-backed mortgage, launched March 26, 2026 by Better in partnership with Coinbase. Standard Fannie Mae conforming first mortgage + BTC-pledged second loan funds the down payment. All 50 states. No-margin-call structure.

LendFriend

Broker-style mortgage operation specializing in crypto-holding borrowers. Works with a network of partner lenders. Asset-depletion qualification model standard; some partners use pledged collateral. 13-state footprint.

Milo

Operating since 2018; first crypto mortgage 2022. $100M+ originated including a record $12M single transaction (Feb 2026). Coinbase or BitGo qualified custody with self-custody option. Foreign nationals are a core market.

Moon Mortgage

Operating since 2022. Anchorage Digital qualified custody. $1M minimum loan; average loan ~$1.6M. Rates not publicly posted, contact directly.

Newrez

First top-25 mortgage lender to formally accept crypto for income/asset qualification (2026). No collateral pledge. No margin call risk. Borrower keeps custody of their Bitcoin. Nationwide footprint.

Rate

Major established mortgage lender (Rate, formerly Guaranteed Rate, founded 2000). RateFi crypto product launched Feb 2026. Asset-qualification model: crypto counts toward qualification, no pledge. All 50 states.