See how Ledn measures against the competitive crypto-backed loan and crypto savings account providers.
The ultimate guide to the Bitcoin-backed lending ecosystem, from the point of someone who’s been doing this for over half a decade.
Learn about:
A brief history of Bitcoin-backed loans
The industry dynamics of collateralized lending
The pros and cons of different custody models
The competitive landscape of Bitcoin-backed loans
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Written by Mauricio Di Bartolomeo, co-founder and CSO at Ledn.
BlockFi’s lack of due diligence and risk management resulted in it filing for bankruptcy after the FTX/Alameda collapse. Unlike BlockFi, Ledn has strict due diligence and risk management policies to safeguard your assets. We are honest and open about how we utilize assets whilst working hard to provide competitive yet realistic rates.
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Unlike Arch, who is brand new, Ledn has a proven track record with over $6.5B of loans processed since 2018. Arch is backed by a lot of the same investors as BlockFi, Ledn works with the highest quality institutional partners as evidenced by its recent announcement with Sygnum bank.
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Celsius mishandled client assets and went under after 3AC (Three Arrows Capital) collapsed. Unlike Celsius, Ledn is transparent about how we manage your digital assets. We are the first crypto lender to provide Proof-of-Reserves attestations. Unlike Celsius, Ledn doesn’t possess, endorse, or benefit from its native token.
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Unlike SALT, Ledn has a flawless record of uninterrupted client withdrawals and transparent, competitive rates with no hidden charges. While SALT covers various currencies, Ledn prioritizes reputable, stable assets (BTC, USDC, USDT, and ETH). Additionally, Ledn offers ring-fenced Growth accounts to generate interest for digital asset holders, a feature unavailable on SALT’s loan-centric platform.
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In June, Haru Invest froze 80,000 users' deposits and withdrawals globally without specifying when access would be restored, blaming service provider issues and facing allegations of false accounting. By July, legal troubles led to over 100 layoffs and a fraud investigation, prompting a travel ban on Haru Invest executives by South Korean prosecutors. In contrast, Ledn has never paused client withdrawals, and has a proven track record of protecting client assets.
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Both Ledn and Unchained offer custodied loans. Ledn's loan platform is more accessible and intuitive. Ledn supports both Bitcoin and Ethereum-backed loans in over 120 countries, whereas Unchained focuses exclusively on servicing bitcoin holders in the USA.
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Proven Track Record
Since 2018 Ledn has always taken a more thoughtful approach to spending capital, risk management, and crypto lending than some competitors. It has never paused withdrawals or lost a single cent or satoshi of client funds.
Highest Level of Security
Ledn ensures security with AES-256 encryption, 2FA activation, and partners with the world’s first qualified custodian, BitGo, for digital asset storage. Ledn Cayman SEZC Inc., which offers Ledn retail clients dollar loans backed by bitcoin, is a registered Virtual Asset Service Provider (VASP) with the Cayman Islands Monetary Authority (CIMA).
Transparency
Ledn is the first crypto lender to provide independent Proof-of-Reserves attestations for accurate asset accounting. We issue monthly Open Book Reports, shedding light on interest generation for Growth Accounts and strategies to reduce Loan interest rates.
No DeFi Risks
Unlike other crypto lending platforms, Ledn does not use decentralized finance (DeFi) protocols to generate interest for its client assets.
Been with Ledn for over 3 years.
Been with Ledn for over 3 years. Went through the several market crashes together and entities falling down. Ledn didnt get a scratch! That says something about their risk profile.
JB
Highmountain
“I had the opportunity and good fortune to meet Mauricio Di Bartolomeo and Mr. John Glover in their amazing offices in Toronto. Once again, I received confirmation that my choices of where to place my trust and investments have proven to be correct. I am particularly pleased to have had the opportunity to exchange important words with them about the new products that are coming. Thank you again.”
JB
John Bishop •
With Ledn about three years. So far so good. Its very hard to trust any central cypto entity these days after all the scams. But I view Ledn is solid bet for a portion of your crypto. Recently took out a dollar loan to pay off credit card without any issues.
LC
Ledn customer •
Talking to the representative. Getting the help I need from them. That made me very happy. I was very thankful and grateful for it. Therefore, I was able to change my password and unlock my account. Thank You.
KA
Krishni Aranwela •
After a couple years of using Ledn, I had nothing but good experiences with them, but nonetheless during the craziness of early 2023 (FTX, etc.) I stopped using their services because I did not have a clear idea of "where does the yield come from?" Then recently I was happy to see that they are addressing that question very thoroughly with a series of monthly posts showing exactly where the yield comes from. I was happy to replenish a USDC saving account with them.
CK
Chris Kapilla •
I think the service offer that Lend brings to the Crypto market is very good. They have a very interesting, well chosen blend of financial products that are very attractive.
The customer service is very professional and fast. The user experience is extreamly easy, but at the same time it offers all the important information about each product, with full transparency. The seem to be well backed-up, as the the navigated with success through different recent crypto-storms. Very recommended
JO
Jorge •
My experience was great ! I had a good experience because I had to first get to know how the website worked. I had got to know how the website worked at first by exploring it for the first time. This second time it worked like a charm. I figured out everything. On my own … ! How the loans work etc. but I need kyc verification first. So I have to work with that, etc. … .Overall, Ledn.com is a great experience for me. I would suggest anyone taking or looking for a short term loan, look no further. Everything is right here… . Thanks !
KA
Krishni Aranwela •
I am very happy with my decision to use Ledn for several Bitcoin backed loans. You can trust that Ledn will keep your assets safe with their proof of reserve business model. If you're looking for a strong finanical partner that goes above and beyond in their customer service, look no further than Ledn.
C
Clarke DB •
When many crypto lenders lack transparency and strong risk management — and others collapse — Ledn stands strong.
Store and earn interest on your Bitcoin, ETH, USDT, and USDC or access cash loans to buy more or cover expenses.
