Ledn’s Bitcoin Loans Review 2024

Ledn is a financial services company that offer a variety of features, including Bitcoin-backed loans.


Ledn is a financial services company that offer a variety of features, including Bitcoin-backed loans, Bitcoin interest-bearing accounts, Bitcoin mortgage, and Bitcoin trading with zero fees. It also facilitates lending your Bitcoin or USDC to earn interest.

How Does Ledn Loan Work?

Opening a Ledn account is fast and can be done online in under 2 minutes. Once you’ve registered, you’ll need to verify your identity through Know-Your-Customer (KYC) protocols.

The company offers these primary services:

  • Borrowing: With Ledn, you can borrow USDC or other fiat currencies by putting up your Bitcoin or Ether as collateral. This collateralized Bitcoin loan frees up cash without selling your crypto. Ledn provides loans with competitive interest rates and flexible terms, allowing you to unlock the value of your Bitcoin holdings without selling them.
  • Lending: You can lend your Bitcoin to earn interest. Ledn pools these funds and lends them out to borrowers, generating returns for lenders. This process provides an opportunity for you to earn passive income on your digital assets.
  • Bitcoin mortgage: Ledn’s Bitcoin Mortgage is a product that allows homeowners or aspiring property buyers to leverage their Bitcoin holdings for real estate. Both the Bitcoin and the property itself act as collateral for the loan.
  • Trading: You can use your Ledn account to ttrade Bitcoin or USDC.
  • Bitcoin accounts: Ledn offers two account types: Growth Accounts and Transaction Accounts. Growth Accounts offer interest rates but limit withdrawals. Transaction Accounts lets you easily deposit, withdraw, and manage your digital assets. It doesn’t lock up your funds like an interest-bearing account might. You can also use it to access Ledn’s Loan, Trade, and Transfer features.
  • B2X: This product gives you a loan based on your Bitcoin’s value, then using that loan to buy you more Bitcoin. Both your original and new Bitcoin act as collateral for the loan. You can repay the loan anytime to regain full ownership of all your Bitcoin.
  • Dual Cryptocurrency Notes (DCN): This offers the opportunity to purchase or sell a Bitcoin at a predetermined target price on a specified future date, all while enjoying a lucrative return.

Ledn Bitcoin Lending

Ledn’s star feature is the Bitcoin-backed loan. This allows you to access cash without selling your beloved Bitcoin. The application process is quick and approvals typically happen within 24 hours. Its minimum loan amount starts at $500 USD.

At Ledn, borrowers enjoy the flexibility of no monthly payments and no penalties for early repayment. Loans with a Loan-to-Value (LTV) ratio of less than 65% are automatically renewed after the initial 12-month term. Additionally, clients have access to features like Auto Top-Up, which helps manage their loans’ LTV in case of Bitcoin price drops, and the Loan Rebalancing feature, which allows redemption of excess collateral as the Bitcoin price increases.

Getting started is easy. After signing up and completing KYC verification, Ledn’s calculator helps you determine the loan amount and how much Bitcoin collateral is needed. You can then choose where you want the loan amount deposited, in your local currency, USDC, or another supported fiat currency. The maximum borrowing limit is 50% of your Bitcoin’s value. This Bitcoin collateral is held securely in a separate wallet until your loan is fully repaid.

Ledn also offers a unique product called B2X. This essentially combines a loan with an automatic Bitcoin purchase. Ledn provides a loan based on your Bitcoin’s value, and then uses those funds to buy you even more Bitcoin. Both your original Bitcoin and the newly acquired Bitcoin act as collateral for the loan. Once you repay the loan, you get back all of your Bitcoin.

Importantly, no credit checks are involved, and approvals are typically within 24 hours. Once approved, funding usually arrives within 24–48 hours after depositing your Bitcoin collateral. However, keep in mind that Ledn may require additional collateral if the value of your Bitcoin drops. In case of default, they have the right to sell your collateral to recover the loan amount.

Ledn partners with reputable institutions like regulated banks or credit unions to hold your collateral in custody. This means your Bitcoin is never loaned out to generate interest for others, ensuring it’s solely dedicated to securing your loan.

Ledn Interest Rates

Ledn offers the following interest rates:

AccountBalance AmountAnnual Percentage Yield (APY)
BTC Growth Account (Tier 1)0–2 BTC1%
BTC Growth Account (Tier 2)On the portion of any excess balance over 2 BTC3%
USDC Growth Account (Tier 1)0–100,000 USDC9.5%
USDC Growth Account (Tier 2)On the portion of any excess balance over 100,000 USDC11%
USDT Growth Account (Tier 1)0–100,000 USDT9.5%
USDT Growth Account (Tier 2)On the portion of any excess balance over 100,000 USDT11%

Ledn Fees and Withdrawal Limits

Opening and maintaining any Ledn account (Growth, Transaction, or Legacy Savings) is completely free. There are also no fees for withdrawing Bitcoin (BTC) directly to another BTC address. When withdrawing other cryptocurrencies like USDC or USDT, there’s a flat fee of 15 USDC or 15 USDT to cover miner fees. Taking out a Bitcoin-backed loan incurs a 2% fee. There are no fees to transfer digital assets between internal Ledn accounts.

The following are minimum and maximum withdrawal limits as well as fees to transfer Transferred Digital Assets to an external wallet address are set out below.

Supported Digital AssetsMinimum Withdrawal LimitMaximum Withdrawal LimitWithdraw Fees
BTC0.0005 BTC100 BTC per 7-day periodMiner fees only
USDC15 USDC1,000,000 USDC per 7-day period15 USDC
USDT15 USDT1,000,000 USDT per 7-day period15 USDT

Ledn Supported Countries

Although Ledn operates in over 100 countries, it’s important to recognize that not all of its services are available in every country. For instance, earning interest on Bitcoin is no longer an option in the United States, and Bitcoin mortgage services are currently exclusive to Canada. However, Bitcoin-backed dollar loans are accessible in nearly all regions globally. Nevertheless, B2X loans are restricted in both the United States and Canada.

Is Ledn Safe and Legit?

Ledn is a safe and legitimate company committed to safety and legitimacy through its operational structure and regulatory compliance. It operates under two Cayman Islands-based companies registered with the Cayman Islands Monetary Authority (CIMA). Moreover, its Growth Accounts, where users earn interest, are isolated from Ledn’s other services and loans. This isolation means that funds in a Growth Account remain unaffected if another part of Ledn faces financial difficulties. Additionally, in the unfortunate event of a borrower defaulting on a loan, funds in a Growth Account would likely be more accessible compared to a traditional bankruptcy process, offering you a faster route to recourse.

Ledn prioritizes the security and transparency of your assets. They avoid riskier DeFi yield farming strategies and ensure responsible lending practices by matching loan maturities and assets. To guarantee your holdings are always safe, Ledn conducts regular Proof-of-Reserve audits. These audits provide you with a unique ID to confirm your balance is accurately reflected in their system. The company uses industry-standard security measures like HTTPS, encrypted passwords, and strict internal policies. Additionally, two-factor authentication (2FA) is required for logins and critical actions. Finally, Ledn respects your privacy. They don’t sell your data to third parties and avoid storing client information on local servers.

Ledn Alternatives

If Ledn isn’t available in your region, or you prefer different features, consider exploring other platforms like the following:

Is Ledn Bitcoin Backed Loan Worth It?

Considering whether a Ledn Bitcoin-backed loan is worth it requires you to consider several factors. Notably, Ledn loans offer considerable flexibility, as there are no monthly payments, and after 30 days, you can refinance your loans. Repayment can occur at any time, and if not repaid by the maturity date, the loan automatically renews if the loan-to-value (LTV) ratio remains below 65%. Loans begin at a 50% LTV and are liquidated at 80% LTV.

Additionally, Ledn provides two key features to manage loans effectively. The Auto Top-up function transfers funds from your Bitcoin Transaction Account to the loan’s collateral address when the LTV reaches 70%, thereby reducing the LTV to 50% and preventing liquidation. Conversely, Loan Rebalancing allows you to reclaim collateral if the LTV falls below 40%, restoring the LTV to 50% and freeing up excess Bitcoin. However, automatic renewal or refinancing may entail new terms, including an administration fee.

In terms of security of your funds, Ledn undergoes regular audits by third-party proof of reserve to ensure transparency. Its custodied loans mean collateral is held securely with qualified custodians and banks, without being lent out to third parties for interest.

However, while Bitcoin-backed loans are globally accessible, certain features may not be available in all supported countries, such as earning interest on Bitcoin in the United States. Notably, features like B2X loans with automatic Bitcoin purchases are unavailable in Canada and the US. KYC requirements may deter privacy-conscious individuals. Furthermore, Ledn operates as a centralized Bitcoin-backed loan platform, differing from decentralized peer-to-peer platforms like Firefish, which entails third-party risks. However, if you are comfortable with the associated risks and rewards, Ledn may be a viable option.

Additional information

Supported Cryptocurrencies

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Type of Lending Platform

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