Best 5 Bitcoin Lending Sites

Applying for a loan at Bitcoin is a feasible alternative to general loan schemes for anyone who knows the crypto currency. The access barrier is very low compared to other loan services and although the interest rates are high they are not the most expensive in the market.


The BtcJam network has already processed loans worth 43,000 BTC. Celso Pitta is the CEO of this company and the latest addition to its advisory board has been Patrick Murck, who is about to leave the Bitcoin Foundation after Olivier Jenssens’ accusations.

You have to register as a user on the network, although you can do so with your Facebook or Google account. BtcJam classifies loan applicants according to their “credit rating” from E to A+. The “credit rating” is calculated based on the level of verification and references from other users. To complete the verification of our account we have several options: connect accounts in other social networks, PayPal, phone number, home address, identity card, bank deposit, connect wallet and “credit test” which is the most effective method to increase the rating. To do this you will have to send a copy of your salary or monthly checks.

  • The references of other users are the ratings and comments that other users of the network write after interacting with you.
  • The average interest rate on loans is 9%, but it varies greatly depending on the length of the loan and the rating of the user.

You can borrow any amount, but if you do not complete the total amount demanded the application will be cancelled and the money will go back to the investors. You can set the repayment term you want, but once published you will not be able to modify it.

For investors the BtcJam service is free. Loans of less than 5 BTC have a closing commission of 5%. For those of more than 5 BTC the commission is 1%. In case of delay in completing the return if more than 5 days from the deadline will be charged a commission of 5% every 5 days.

BitLending Club

With an investment of €200,000 by venture capital firm Launchhub at the end of 2014 and having joined the Boost start-ups accelerator, Bitlending is a key player in the sector.

The team of this network aims to reduce the number of defaults and it is essential to register and verify our identity by sending the necessary documents. The verification is done using the program Jumio. If you do not complete the verification process you cannot apply for any loan. The result of the project is quite positive and they have only 7% of cases of non-repayment of loans.

Once verified, depending on the monthly income you have demonstrated, you can apply for loans up to an amount of bitcoins. So if you do not have proven income, you can only ask for a value less than $300, if you receive less than $10,000 annually you can apply for up to $800 if you show an income between $10,000 and $30,000, up to $2300 and so on.

The method used by the web is the “low auction”. When you apply for a loan you can set an interest rate, but lenders will be able to make their bids to you with another interest rate they consider more appropriate. You will only be able to withdraw the loan when it is complete. This can cause that if you do not calculate well at the end of the application period you will have to accept a part of the investment with a very high interest so as not to lose everything collected so far. The commissions are 2% of the capital at closing and 1% for loans of more than 10 bitcoins.

Cryptops is a different model of Bitcoin loans. It does not work by registration and does not require any account verification.

Unlike other services, in order to receive a loan on we have to deposit a guarantee, as the company name indicates is something like a digital goods pawn shop. The guarantee is an amount from another altcoin that determines the system itself. The available altcoins are: Litecoin, Dogecoin, Counterparty, Next, Stellar, Dash among others.

Altcoins traders usually have in their portfolios amounts of currency that they keep for when the market improves. This is a good method for “money does not sleep” and get liquidity in BTC thanks to altcoins saved to continue trading.

The process is simple, complete the form indicating the amount of bitcoins you want, the term in which you want to return the loan (7, 15 or 30 days) and the altcoin you want to use for the guarantee. The system will automatically calculate how many coins you must provide as collateral and how many bitcoins you must return (including interest) once the term has expired. If you agree, send the form and you will receive an email from Cryptops indicating the wallet where to send the guarantee. Once you have done so, you will receive the loan in a short period of time.

If you do not return it in the fixed term you do not recover the deposit, although they are flexible and you can renegotiate a new term with new interest.

Other Platforms

  • Other major platforms from which you can apply for loans are Bitbond, which offers the possibility of financing loans for 5 years and BTClend, which is like the younger brother of Btcjam.

  • Also, if you like forums and really personal loans, you can always go through the loan threads of two Bitcoin community forums like Bitcointalk Loans and Reddit BTC loans.

FAQ about Lending

  • What is lending in banking?
  • What are the types of lending?
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  • How is creditworthiness calculated?
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  • What are the 4 types of loans?
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  • What are the three C’s of credit?
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  • Do personal loans hurt your credit?
  • Is lending money legal?
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  • How much money can you gift someone without it being taxed?
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