Best crypto loan platforms in 2026

There is no single best crypto loan platform, because the right one depends on whether you care most about the lowest rate, the safest custody, or the ability to buy more without selling.

This comparison comes from Kraken, so we tell you where a competitor beats us and we transparently score every platform against the same criteria, so you can pick what matters to you.

We scored every platform, including our own, against the same six criteria:

• Advertised interest rate - the headline cost of borrowing, and whether that rate is fixed or variable.

• Maximum loan-to-value (LTV) - how much you can borrow against your collateral, and how much buffer that leaves before a margin call.

• Supported collateral assets - the range of crypto each platform will accept as collateral.

• Custody model - who actually holds your collateral, dividing custodial (CeFi) platforms from non-custodial (DeFi) protocols.

• Unified buying power - whether borrowing folds into a single buy flow, or is a separate loan you manage on the side.

• Security and regulatory track record - proof of reserves, licenses, audits, and operating history.

Rate and LTV cover what a loan costs you. Custody, supported assets, and track record cover safety and fit. Buying power covers how much friction stands between you and acting on a decision.

Kraken publishes this comparison, so treat it the way you would any vendor's list: with healthy dose skepticism.

We have tried to earn your trust by being specific about where Kraken does not lead. Kraken does not offer the lowest headline rate in this set, and we say so plainly below. Where Kraken stands out is buying power, transparency of terms before you confirm, and a long security track record.

The table below is the quick view. Rates and terms are as of August 2026 and change frequently, so check each provider's own site for current figures.

Kraken Borrow folds borrowing into the normal buy flow, so the eligible crypto you already hold becomes buying power.

Your cash is spent first, and if you want to buy more than your cash covers, the difference is borrowed automatically as a stablecoin (USDG in most markets, EURC in the EEA) and converted into the asset you are buying, with the rate and fees shown before you confirm. There is a one-time 0.5% origination fee, no fixed repayment schedule, and the variable rate is the same for every user and capped at 25% APR.

Kraken does not compete by offering the lowest advertised rate. It competes on transparency, cross-collateral support, and its proven security record.

Kraken has maintained a strong security track record since its founding in 2011, with no loss of customer funds from a platform breach, and Kraken Borrow runs on that same infrastructure. It is worth noting that Kraken Borrow is available across the EEA and several other markets, but not in the US, UK, Canada, or Australia at this time.

It is the go-to crypto loan platform for security conscious people who want to buy more than their cash allows, without selling their existing position.

Nexo is a custodial lender built around a revolving credit line, with a headline rate advertised from around 1.9% APR on its own borrow page.

Your exact rate depends on your loyalty tier as well as your LTV, so the lowest rates are reserved for higher tiers holding NEXO tokens and borrowing at low LTV; rates run up to roughly 18.9% otherwise. Nexo supports more than 100 collateral assets, offers up to 50% LTV on major assets, does not enforce a fixed repayment schedule, and lets you repay in crypto or stablecoins. After a 2023 settlement with US regulators and a subsequent exit, Nexo relaunched in the US (excluding New York) in early 2026. It can be an option for borrowers whose main priority is the lowest possible headline rate.

Coinbase offers USDC loans powered by the Morpho onchain lending protocol, rather than a traditional custodial loan. Your collateral (such as BTC converted to cbBTC) is moved into a Morpho smart contract on Base, and Coinbase states it is not rehypothecated.

Interest rates are variable and set by Morpho, advertised recently from around 5.1% for Bitcoin-backed loans, with automatic liquidation triggered if the loan reaches 86% of collateral value. Nine assets are accepted as collateral, and a one-time processing fee is added to the loan each time you borrow. It is available in the US (excluding New York) and with limited access in the UK, and it can be an option for borrowers who want low variable USDC rates through a familiar brand.

Figure offers an application-based, fixed-rate crypto-backed loan, closer in feel to a traditional lending application.

Its own disclosures at the time of publishing indicate APRs from roughly 10.0% at 50% LTV up to about 12.6% at the maximum 75% LTV, with a 1% origination fee and a 12-month interest-only term.

Collateral (BTC, ETH, or SOL) when using Figure is held in segregated multi-party-computation custody with a verifiable onchain address, so you are not exposed to a single centralized custodian. Figure can be an option for borrowers who want a fixed rate and a higher maximum LTV.

Ledn is a custodial, Bitcoin-only lender that has focused on a single asset since dropping ETH-backed loans in 2025. It offers fixed-rate, 12-month loans rather than an open-ended credit line.

Rates are fixed and tiered by loan size, running from 11.49% APR on standard loans down to 9.25% APR for the largest borrowers, with up to 50% LTV and a 2% administration fee. You can borrow US dollars, local fiat, USDC, or USDT against BTC. Ledn runs one of the industry's longest proof-of-reserves programs, with bi-annual attestations from an independent accounting firm, and it is one of the few centralized lenders that continued to honor withdrawals through the 2022 credit crisis that took down Celsius and BlockFi. It can be an option for Bitcoin holders who want a predictable fixed rate and a lender with a demonstrated survival record.

Aave sits in a different category entirely from many other options on this list. That is because it is a non-custodial DeFi protocol where a smart contract, not a company, holds your collateral, and its variable borrow rates are set algorithmically by supply and demand rather than by a business.

Compound is the other major non-custodial DeFi lending protocol, and a useful point of comparison to Aave. Like Aave, a smart contract holds your collateral and rates are variable and set by market utilization, not by a company.

The 2022 collapse of several centralized lenders taught the market that the lending platform itself can be at risk, not just the loan. Consider these below factors as a buyer's checklist, before determining which platform is right for you.

The first question to consider is who holds your collateral. A custodial platform takes possession of it, so your access depends on that company staying solvent, which is exactly what failed at Celsius and BlockFi in 2022. A non-custodial protocol might remove the centralized risk of a traditional company, but still opens you to other risks, such as vulnerabilities in the protocol's code. That is why many borrowers look for regulatory licenses, published proof of reserves, and a clean operating history.

Compare the advertised rate and the maximum LTV against each other rather than in isolation.

A low rate paired with a high maximum LTV can be riskier than a slightly higher rate with a conservative limit. This is because a high starting LTV leaves little buffer before a margin call is triggered.

Watch for variable rates that can rise, and for origination fees that are not included in the headline number.

Every collateralized loan can be liquidated, so read how each platform handles it before getting started. It is important to consider at what threshold a margin call might trigger, at what point liquidation begins, and how much warning you get.

Match the platform to your single most important priority rather than chasing a general "best."

A practical way to decide. Say you hold $10,000 of Bitcoin and want to act on a new market opportunity.

If your only goal is the cheapest possible loan, a rate-led lender wins. If your goal is to buy more Bitcoin without selling the coins you already hold, a platform with unified buying power is the better fit, because it turns that $10,000 into buying power while staying within the same flow you would use to buy anyway. Same collateral, different priority, different winner.

Situation - A rate-sensitive investor holding Bitcoin narrows his choice to two platforms: one with the lowest advertised APR, and one with unified buying power but a slightly higher rate.

Approach - He starts by evaluating each platform purely on the headline rate. Then he re-reads the criteria and considers what he actually wants to do, which is buy more Bitcoin without selling, not simply borrow at the cheapest rate.

Outcome - He realizes the lowest-rate option would still require him to pay fees for moving funds and to separate out his process into unique steps. Meanwhile, the platform offering a buying-power loan does it in one flow. The rate might cost him slightly more, but the seamless workflow saves him friction and a manual second trade.

Lesson - The cheapest headline rate is not always the best fit. Making a choice based on your real priority, not just the most attractive number on the page, is what separates a logical decision from a misinformed one. Bitcoin's price is more or less the same on every platform, but the way that you can borrow against it is where the experiences diverge.

You have the criteria that matter: rate, LTV, supported assets, custody, buying power, and track record. If your priority is buying more without selling what you hold, Kraken Borrow folds a crypto-backed loan into the normal buy flow, so eligible crypto becomes buying power, your cash is spent first, and the rate and fees appear before you confirm.

It is powered by the same infrastructure behind Kraken, which has maintained a strong security track record with no loss of customer funds from a platform breach since 2011, and it lives in one account alongside trading, staking, and everything else, so there is nowhere else to go to act on your decision.