Best Bitcoin Lending Platforms in Q4 2026

The best bitcoin lending platform in Q4 2026 depends on what you need. Ledn is our top pick for most borrowers thanks to a $500 minimum, no required monthly payments and a monthly Open Book Report on reserves. Arch has the lowest fixed starting rate we verified at 7.25% APR, and Strike, Figure and SALT cover larger loans, higher LTVs and longer terms.

Every rate below was checked on each lender's own site on October 8, 2026. Rates move, so confirm the number on the lender's page before you sign.

Key takeaways

• Ledn: loans from $500, 9.25% to 11.49% APR by loan size, and Daily Stack readers get 0.25% off their first loan through our link.
• Arch: from 7.25% APR, up to 60% LTV, collateral held at Anchorage Digital with no rehypothecation.
• Strike: fixed APR term loans with no origination, early repayment, late or liquidation fees, and 72 hours to respond to a margin call.
• Figure: the highest starting LTV we verified at up to 75%, with a 1% origination fee.
• SALT: the only lender here with 3 and 5 year fixed terms.
• Want to keep your own key? Unchained and Firefish use multisig, at very different loan sizes.

What is the best bitcoin lending platform overall?

1. Ledn: best for most borrowers

Ledn has funded bitcoin-backed loans since 2018 and keeps the process simple. Loans start at $500, the typical starting LTV is 50%, the standard term is 12 months, and there are no required monthly payments. Ledn's own rate table runs from 11.49% APR for loans under $250,000 down to 9.25% APR for $2 million and up.

Collateral stays in custody for the life of the loan and is never lent out to earn interest, and Ledn publishes an Open Book Report with key health metrics reported by a third party.

Our link: ledn.io/partner/dailystack, which gives Daily Stack clients 0.25% off their first loan.

Pros

• Lowest minimum we verified at $500
• No required monthly payments
• Collateral never lent out, with third-party reporting

Cons

• The 9.25% tier starts at $2 million
• The standard term is 12 months, so longer needs mean renewing

2. Arch Lending: best for the lowest fixed starting rate

Arch advertises loans from 7.25% APR. Its calculator shows terms up to 12 months at up to 60% LTV. Collateral is held by Anchorage Digital, a federally chartered bank, in segregated custody with no rehypothecation.

Arch also takes ETH, SOL and XRP as collateral, which matters only if you hold more than bitcoin. Our link: archlending.com/dailystack.

Pros

• 7.25% APR starting rate, the lowest fixed rate we verified
• Qualified custodian with no rehypothecation
• Can upsize as collateral appreciates

Cons

• The 7.25% rate won't fit every loan; the calculator's default example shows 10.49% APR
• Terms top out at 12 months

3. Strike: best for a known APR with no extra fees

Strike's term loan APR depends on loan size and payment plan. With monthly payments, it's 10.50% APR under $250,000, 10% from $250,000 to $750,000, 9% from $750,000 to $2 million, and 7.49% from $5 million to $10 million. Pay-at-maturity loans cost a bit more.

Strike charges no origination, early repayment, late payment or liquidation fees. Before a margin call you get 72 hours to respond, and only the collateral needed to restore your LTV is sold. Strike says it does no further rehypothecation.

Pros

• No origination or liquidation fees
• 72 hours to respond to a margin call
• Fixed APR until you refinance or close

Cons

• Under $250,000, the rate sits at 10.50% APR or higher
• An optional volatility-proof loan adds a flat 2.95% to the APR

4. Coinbase: best for a flexible, onchain loan

Coinbase loans are powered by Morpho, an onchain lending protocol. Coinbase advertises loans from 5.1%, up to $1 million, paid in USDC. There is no repayment schedule, but the rate is variable and your LTV must stay under 86% to avoid automatic liquidation and a penalty fee.

Pros

• One of the lowest advertised starting rates we found
• No repayment schedule or deadline
• Funds land in your Coinbase account as USDC

Cons

• Variable rate, so your cost can change
• Collateral moves onchain to Morpho, which adds smart contract risk

Our link: Coinbase.

5. Figure: best for a higher LTV

Figure offers 8.91% interest (9.999% APR) at 50% LTV or 11.50% interest (12.62% APR) up to 75% LTV. APR includes a 1% origination fee. Loans start at $5,000, run 12 months and are interest-only. Figure's qualified custodian holds collateral and won't rehypothecate it.

Pros

• Up to 75% LTV, the highest we verified
• Clear APR with the fee built in

Cons

• 1% origination fee
• Higher LTV means less room before a margin call

6. SALT Lending: best for longer terms

SALT is the only lender here offering 1, 3 or 5 year terms. Its rate table shows 7.49% APR at 30% LTV on a 1-year loan, 8.75% at 50% LTV, and 10.50% at 70% LTV (1-year only). The minimum loan is $5,000 and SALT lists a 0% origination fee.

Our link: SALT Lending.

Pros

• Fixed rates for up to 5 years
• 0% origination fee

Cons

• The lowest rate needs a conservative 30% LTV
• 70% LTV is only offered on 1-year terms

Which lenders let you keep a key?

Unchained keeps collateral in multisig and gives you a key, so you can verify on-chain that your bitcoin isn't rehypothecated. Loans are built for larger borrowers: minimums start at $500,000 for individuals and $150,000 for business entities, with 12-payment terms. The default example in Unchained's loan calculator shows a 12% interest rate, or 14.18% APR with fees. See Unchained.

Firefish is an open marketplace where collateral sits in multisig escrow on Bitcoin mainnet and lenders compete on rate. Firefish advertises rates from 5% and is available globally. Our link: firefish.io/?ref=21rates, code 21RATES.

Also on our list: Roxom offers a bitcoin-backed credit line, and LendingUSA's Crypto Lending program covers loans from $10,000 to $250,000. Compare every lender we track on the 21Rates lenders page.

How do the rates compare?

Checked on each lender's own site, October 8, 2026.

How we picked

We started from the 21 lenders on 21Rates and kept the ones with clear, published terms that US borrowers can use today. We weighed the rate, the LTV, the minimum, the fees, and above all how collateral is held. A lower rate only helps if the custody and liquidation terms fit you.

Before you borrow, run your numbers through the 21Rates risk simulator and read our guide to LTV and liquidation risk. For the bigger picture, see the state of bitcoin-backed lending in Q3 2026.

FAQ

What is the lowest bitcoin loan rate right now?

Coinbase advertises variable loans from 5.1% and Firefish lists marketplace rates from 5%. Among fixed-rate custodial lenders, Arch starts at 7.25% APR. Your actual rate depends on LTV, loan size and term.

Which bitcoin lender has the lowest minimum?

Ledn, at $500. Figure, SALT and Strike start at $5,000, and Unchained starts at $500,000 for individuals.

Is my bitcoin lent out when I take a loan?

It depends on the lender. Ledn says collateral is never lent out to earn interest, Arch and Figure say no rehypothecation, and Unchained lets you verify your collateral on-chain with your own key.

What happens if bitcoin's price drops?

Your LTV rises. Past each lender's threshold you'll face a margin call or liquidation. Strike gives 72 hours to respond, and Coinbase liquidates automatically if LTV passes 86%.

Do I need a credit check?

Ledn and Strike say no traditional credit check is required. Other lenders vary, so check each one's terms.

Disclosure: 21Rates may earn a commission when you sign up through some links in this article. This doesn't change our picks or the rates shown, which come from each company's own site as of October 8, 2026. This is not financial advice.