What is a crypto loan?

A crypto loan is a type of secured loan in which your crypto holdings are used as collateral in exchange for liquidity from a lender that you’ll pay back in installments. As long as you make your payments and pay the loan amount in full, you get your crypto back at the end of the loan term.

Can I get a crypto loan without collateral?

Most crypto loan platforms don’t require you to personally guarantee your loan. Your cryptocurrency is collateral to secure the loan. If you don’t pay your loan or the value of your collateral falls, the provider can sell your crypto to pay the loan. Can I get a crypto loan without collateral? Expand to learn more

Should you borrow against your crypto?

Borrowing against your crypto isn’t for everyone, but for some people, it could be a good fit. People who want to access the value of their crypto without selling. If you have $20,000 worth of Bitcoin and happen to need $20,000, you could just sell. But then you have to pay capital gains taxes if you have a gain on your Bitcoin investment.

What are lendabit's competitors offering crypto-backed loans?

Other competitors offering crypto-backed loans include Unchained Capital (accepts BTC with 35-50% LTV), Hodl Finance (uses BTC, ETH and XRP as collateral at 50% LTV) and Coin Loan (takes six cryptocurrencies with loan to value ratio of up to 70%). Lendabit facilitates peer-to-peer lending and borrowing against crypto collateral in BTC and ETH.