Ledn
Bitcoin-backed lending platform with $9B+ originated loans and segregated cold storage custody
Why We Recommend Ledn
Ledn has built credibility through operational longevity and transparent practices since launching in 2018. The platform has originated over $9 billion in loans without reported losses, demonstrating consistent risk management across multiple market cycles. All assets are held in cold storage through BitGo custody using multi-signature wallets and AES-256 encryption. Loan collateral remains segregated and is never re-lent, with on-chain verifiability allowing users to confirm their holdings independently.
The platform undergoes regular Proof-of-Reserves audits conducted by Armanino LLP, providing third-party verification that client assets match reported balances. Ledn operates without a utility token and explicitly states it does not sell user data, removing common conflict-of-interest concerns found in the broader crypto lending space. Two-factor authentication is mandatory, and the Bitcoin-only focus (alongside stablecoins) reduces exposure to the broader altcoin risks that have affected other lending platforms.
Best For
Bitcoin holders who need liquidity without triggering taxable sales events are the primary audience. The 50% loan-to-value ratio allows borrowing against BTC while maintaining upside exposure, and loans require no credit checks for those with at least $1,000 in Bitcoin collateral. The 12-month renewable terms with no origination or maintenance fees suit holders planning to repay when market conditions favor it. Funding typically completes in under 24 hours.
Stablecoin savers looking for yield on USDC or USDT will find the Growth Accounts useful, with monthly compounding interest and no lockup periods allowing flexible withdrawals. The Dual Cryptocurrency Notes offer fixed-term yield opportunities for those comfortable with BTC price-linked structures.
More aggressive users can access B2X loans to double their Bitcoin exposure through instant leveraged purchases, though the 2% administration fee plus 1% monthly interest makes this better suited for those with strong conviction on near-term price appreciation rather than extended holds.
Services & Features
- BTC-backed loans at 50% LTV
- 10.4% annual loan interest
- B2X leveraged Bitcoin loans
- USDC/USDT Growth Accounts
- Dual Cryptocurrency Notes
- BTC-USDC trading at 0.5% spread
- Free peer-to-peer transfers
- Cold storage Transaction Accounts
Considerations
Services are limited to BTC, USDC, and USDT only—no altcoin support. Interest-earning products are unavailable in the US and Canada, with varying eligibility across 120+ supported countries. The 10.4%+ annual loan rates may be expensive for short-term borrowing needs.
