๐Ÿ“– 5 min read โœ๏ธ 21 Rates Editorial Team ๐Ÿ“… Updated December 2024
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Unchained

Bitcoin Only Est. 2016
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About Unchained

Bitcoin-native financial services company offering collaborative custody loans. Borrow against Bitcoin held in multisig vaults where you retain key control. Features transparent terms and no rehypothecation of collateral.

Loan Terms & Rates

Interest Rate
14% +
Min Loan
$150,000
Loan Term
3-12 months
Max LTV
50%

Loan Details

Origination Fee 2%
Maximum Loan $1,000,000
Rehypothecation No
Repayment Terms Interest Only, Principal + Interest
Custodian In-House
KYC Required Yes

Risk Analysis

Overall Risk Score: 7.4/10

Risk Score: 7.4/10. Strengths: no rehypothecation, conservative LTV, Bitcoin-only focus.

Custodial Risk:

Higher risk: Custodial arrangements unclear or uses In-House

Counterparty Risk:

Low risk: No rehypothecation of collateral

Loan Structure:

Conservative: Max LTV of 50% provides strong collateral buffer

Auditability:

Good: Some transparency measures in place

Regulatory:

Adequate: Operating with standard compliance measures

Insurance:

Protected: Known to have insurance coverage for client funds

Transparency:

Excellent: Clear terms, fees, and policies publicly available

Loan Calculator Example

Example: $50,000 loan at 14% APR over 24 months

Monthly Payment
$2,400.64
Total Interest
$7,615.46

Customer Reviews

โ˜…โ˜…โ˜…โ˜…โ˜… 5/10/2026

I love using coin base seriously so easy and well going Alright, hereโ€™s a general review of how I did my exchange on coinbase: What usually goes well: Itโ€™s fast and simple - Coinbase makes it easy to swap coins in a few taps, even if youโ€™re new. No complicated order books to deal with. Reliable execution - Trades go through, and you actually get the coin you bought. No horror stories of missing funds like you see on some sketchy platforms. Good for beginners - The UI doesnโ€™t overwhelm you, so you can actually focus on the decision to buy/sell. Where people usually lose out: Fees and spread - If you used the regular Coinbase app with โ€œBuy/Sellโ€, you paid more than you needed to. The spread alone is often 0.5-2%, plus the fee. Coinbase Advanced Trading cuts that down a lot. Market orders in volatile moments - If you hit buy/sell during a fast pump or dump, you likely got a worse price than you expected due to slippage.

โ˜…โ˜…โ˜…โ˜†โ˜† 2/24/2026

Not the best option for buying & selling bitcoin If you are new to bitcoin (aka "crypto", although bitcoin is NOT "crypto") you may be drawn to Coinbase, the best known and best marketed exchange around. However, their fee's are higher than the average exchange, and every penny helps to accumulate more sats. Further, they don't advocate for self-custody of your bitcoin as they should, they dabble in way too many coins that aren't bitcoin, (anything other than bitcoin is just a casino slot machine pull type of coin.) You're better off with a company that focuses on bitcoin, that only pushes bitcoin on their customers, and that encourage self-custody of that bitcoin.

โ˜…โ˜…โ˜…โ˜†โ˜† 2/8/2026

Okay exchange Itโ€™s an Ok entry level exchange. There are better exchanges out their with better fees.

โ˜…โ˜…โ˜…โ˜…โ˜† 1/17/2026

Reliable Crypto Lending with Great Support Iโ€™ve used Unchainedโ€™s crypto lending service a few times for quick liquidity, and itโ€™s been a smooth experience. The rates are fair, and I appreciate the transparency. Plus, the support team is responsive. Just make sure you understand the terms before using it.

โ˜…โ˜…โ˜…โ˜…โ˜… 12/29/2025

Coinbase the easy exchange The easiest simple to understand and very minimum fees

Compare Unchained with Other Lenders

Compare Unchained with other Bitcoin lenders on 21Rates:

Frequently Asked Questions About Unchained

What interest rates does Unchained offer for Bitcoin loans?
Unchained offers Bitcoin-backed loans starting at 14% APR. Actual rates depend on loan-to-value ratio, loan amount, and term length.
What is the minimum loan amount at Unchained?
The minimum loan amount at Unchained is $150,000. This allows both small and large borrowers to access Bitcoin-backed lending.
Is Unchained safe and legitimate?
Unchained has a risk score of 7.4/10 based on our analysis of custody practices, regulatory compliance, and operational history. Risk Score: 7.4/10. Strengths: no rehypothecation, conservative LTV, Bitcoin-only focus.
What LTV ratio does Unchained offer?
Unchained offers a maximum loan-to-value (LTV) ratio of 50%. This means you can borrow up to 50% of your Bitcoin's current value. Higher LTV means more borrowing power but also higher liquidation risk.
How long are the loan terms at Unchained?
Unchained offers loan terms ranging from 3 to 12 months. Shorter terms typically have lower total interest costs, while longer terms offer lower monthly payments.

About This Review

21
21 Rates Editorial Team
Bitcoin Financial Research Analysts

Our research team analyzes Bitcoin lending platforms using proprietary risk scoring, rate comparison data, and user reviews. We independently verify lender terms and maintain up-to-date information to help you make informed borrowing decisions.

Last verified and updated: December 2024

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