Best crypto lending platforms in 2024

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As the DeFi sector exploded in 2020, crypto loans became one of the most popular additions to the crypto industry.

We will explain what crypto lending is and how it works, its advantages and disadvantages, and then recommend the best crypto lending platforms in 2023 for those interested in trying it out.

What is crypto lending?

As its name suggests, crypto lending is a process of giving out loans in the form of cryptocurrency. It uses traditional finance principles to extend loans denominated in digital assets, or cryptocurrencies. Similarly to traditional lending, borrowers receive funds and then repay it, along with a percentage of their earnings.

However, crypto lending differs significantly from traditional lending in several key areas. First, it operates in a largely decentralized environment, supported by blockchain technology. As a result, individuals bypass traditional intermediaries, such as banks or credit institutions, by using a peer-to-peer lending structure.

Second, the lending process has been democratized in crypto lending. Anyone can become a lender. This is accomplished by locking up or staking their cryptocurrencies in a smart contract. By using these funds, the borrower is able to earn additional income and repay them.

Providing lenders with a passive income, interest payments from borrowers serve as a reward for them. Crypto lending, in combination with its inherent potential for higher growth rates than traditional savings accounts, makes it an attractive proposition for digital currency holders.

In addition, crypto lending should be viewed with caution due to the volatility of the relatively new and volatile cryptocurrency market, which may affect the stability of returns. Crypto lending faces a number of risks, including volatility of the underlying cryptocurrency and potential risks associated with lending platforms and protocols. As with any financial venture, crypto lending requires due diligence and careful consideration.

Best 10 crypto lending platforms


CoinRabbit is a very popular crypto loans provider due to the wide range of coins it has to offer. It has no credit check or KYC and it allows you to take out loans as small as $100. If you wish to lend, you can earn up to 10% interest on popular projects, which include USDT, BSC, USDC, TUSD and alike. On top of that, there are also no platform fees for users and borrowers can choose among 200+ different coins, with the APR ranging between 11% and 14%. Moreover, using CoinRabbit crypto wallet you can not only borrow and lend coins, but also swap and trade your assets fast and with minimal fees.

Unchained Capital

Our next company is Unchained Capital, which is based in Austin, Texas. It offers Bitcoin loans to individuals as well as businesses. The platform offers a minimum APR of 12.58 and an estimated LTV ratio of around 40%. All funds are kept safe within dedicated BTC multisig vaults. Currently, only US customers are able to take advantage of this offer.

Compound Finance

One of the largest DeFi protocols is compound finance, based in California. The platform’s lending and borrowing rates fluctuate due to its yield farming model, which is an innovative and community-governed lending protocol. There is a wide range of BTC APRs available on the platform, with a range of 0.04% to 6.5%.


There is SpectroCoin half way down the list. It is a Belarus-based DeFi platform that has been in the crypto world since 2013. Its high rating has enabled it to stand out from the crowd throughout the years. Low APRs are available on the platform for borrowers, with rates as low as 4.95 % and as high as 17.9 %. The LTV can range from 25% to 75%, and the loans can range from 25 EUR to 1 million EUR.


YouHodler, a platform based in Switzerland, offers both crypto-backed loans and a savings account for cryptocurrencies. The minimum amount needed to start earning passive income is $100. Additionally, YouHodler allows borrowers to take out loans using any of the top 50 coins. The LTV ratio mostly is 50%. However, this comes at the cost of a high APR, which ranges from 13.68% to almost double that amount.


The first on the list is OKX. This exchange has more than 20 loanable assets, some with flexible rates and others with fixed ones. The rate for USDT for example is fixed at 2%. It also features highly competitive terms for major coins. For those who seek more flexible terms, the exchange also posts 24-hour APYs for assets.


Nebeus, an Irish company approved by the national central bank, offers loans secured by a $100 million insurance fund. Withdrawals can be made in EUR or stablecoin every 24 hours. The loans are divided into two types: flexible and quick. Quick loans are ideal for day-to-day expenses and have no interest for three months. Meanwhile, flexible loans have an LTV ratio of up to 80%, with interest rates ranging from 13.5%.


The list ends with Nexo, which has been regulated and licensed by the European Union. With its operations in 200 jurisdictions and nearly 4 million users, it offers loans at 0% APR, and lenders can earn up to 16% interest. This interest is paid out every day. Even though the APR starts at 0%, it can reach 13.9%.

Are crypto loans worth it?

The process of cryptocurrency loans is completely automated thanks to smart contracts and is decentralized. They are available to everyone in the world, without credit scores and KYCs. Depositing collateral proves that you can repay the loan, and that is all you need to do.

You can earn passive income by lending your own coins. The process is straightforward and fairly safe. You can improve your earnings by following crypto lending strategies. Crypto lending has benefits and risks, just as any type of loan has, but if you understand them and are careful enough, you can take advantage of them.

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