Best U.S. Crypto Loan Lenders in 2026: Rates & Features Compared

In 2026, crypto-backed loans have matured into a core part of many investors' financial strategies. With Bitcoin, Ethereum, and other digital assets maintaining strong momentum, more borrowers are looking to access liquidity without triggering taxable events or selling off their holdings.

The crypto lending space has also grown more competitive. Rates have improved significantly across the board since 2025, with several platforms now offering starting APRs under 10%. But as options multiply, so does the complexity. Loan terms, rates, fees, collateral handling, and risk models can vary widely from one lender to the next. Understanding these differences is key -- not just to getting the lowest rate, but to ensuring your assets are protected throughout the life of the loan.

In this guide, we break down the key players in the U.S. crypto loan space: Milo, Ledn, Nexo, Unchained Capital, Arch, and Strike, comparing how they stack up on the features that matter most.

Milo

Milo offers crypto-backed loans designed for borrowers seeking both flexibility and predictability. Loans range from $5,000 to $5 million, secured by Bitcoin or Ethereum. Borrowers choose from two 50% LTV options starting at a fixed 10.75% APR (8.75% base rate): a standard loan with monthly interest payments, or a deferred-payment option where interest is paid at maturity. Both structures provide margin call protection and custody is handled by Coinbase and BitGo with no rehypothecation.

Loan payments are interest-only, with the principal due as a balloon payment at maturity, giving borrowers the option to manage cash flow more efficiently. Additionally, Milo allows loans to be rolled over at the end of the term, subject to approval, providing added flexibility for those who may wish to extend.

Collateral is held securely with qualified custodians and is never rehypothecated, ensuring borrowers retain full control and transparency over their assets. There are no credit checks, no prepayment penalties, and the loan structure is designed for borrowers who want clear terms and the freedom to manage repayment on their timeline.

Ledn

Ledn offers a single Bitcoin-backed loan product built around secure, non-rehypothecated custody. Your Bitcoin collateral is held without being lent out to third parties, keeping counterparty risk low.

Rates currently range from 9.99% to 11.49% annually, with no origination fee for U.S. and Canadian borrowers. Loans are offered at up to 50% LTV, with monthly interest-only payments and the principal due at the end of the term.

Ledn's streamlined product is a strong option for borrowers who want a secure, straightforward Bitcoin loan at a competitive rate, without having to weigh custody trade-offs between product tiers.

Nexo

Unlike traditional lenders, Nexo operates a crypto-backed line of credit, allowing users to draw funds as needed. Rates are determined by Nexo's Loyalty Tier system, which is based on the ratio of NEXO tokens held in a user's portfolio:

• Base Tier users pay 17.9% APR, with no NEXO tokens required.
• Platinum Tier users can access standard rates of 10.9% APR, or as low as 1.9% APR on a low-cost credit line, but only if they hold at least 10% of their portfolio in NEXO tokens and maintain a sufficiently low LTV.

For Bitcoin collateral specifically, Nexo supports up to 50% LTV. The system is dynamic, with variable rates that adjust based on tier and LTV. For borrowers who prefer a revolving line of credit tied to their portfolio balance, Nexo provides flexibility, though at the cost of higher complexity and platform-based risks.

Unchained Capital

Unchained Capital offers Bitcoin-only loans for commercial and business borrowers, leveraging a multisig custody model. As of 2024, Unchained stopped originating consumer loans and now focuses exclusively on business lending. Keys are distributed among Unchained, the borrower, and a third-party agent, ensuring no single party can access the BTC unilaterally.

The program features:

• Starting APR of approximately 11.49% for loans under $250,000, with tiered rates for larger loan sizes.
• Minimum loan size of $150,000 (business borrowers).
• No credit checks and no prepayment penalties.

Unchained's structure is ideal for businesses prioritizing decentralization and security, but individual borrowers should look elsewhere.

Strike

Strike has significantly improved its rate structure in 2026, now offering Bitcoin-backed loans starting at 9.5% APR with zero fees. There are no origination fees, no early repayment penalties, and no monthly fees -- what you see is what you pay.

All loans offer:

• Up to 50% LTV.
• No rehypothecation of collateral.
• No origination or repayment fees.
• Loan sizes starting at $5,000.

This positions Strike as one of the most cost-competitive options for straightforward Bitcoin loans in 2026, particularly for borrowers who want simplicity and fee transparency.

Arch

Arch now offers tiered pricing based on loan size, making it significantly more competitive for larger borrowers than in prior years. Arch supports Bitcoin, Ethereum, Solana, and XRP as collateral.

Rate tiers for Bitcoin loans:

• $5,000 - $250,000: 11.84% effective APR (10.35% interest + 1.49% origination)
• $250,000 - $750,000: 10.49-10.99% effective APR
• $750,000 - $2.5M: 9.49-10.49% effective APR
• $2.5M+: Down to 8.49% effective APR

LTV ratios vary by collateral: up to 60% for BTC, 55% for ETH, and 45% for SOL. Arch partners with Anchorage Digital for institutional custody with no rehypothecation, and offers 12-month loan terms with rollover options. A 2.5% liquidation fee applies if collateral must be sold.

For borrowers holding ETH, SOL, or XRP alongside Bitcoin, Arch remains the most versatile option in the market.

Final thoughts

In 2026's crypto lending market, borrowers have more options than ever, and rates are more competitive than they have ever been. The gap between the best and worst options has widened, making comparison more important than it was a year ago.

For borrowers looking for predictable payments, secure custody, and the flexibility to manage or extend their loan, lenders like Milo offer clear, interest-only structures with no rehypothecation and straightforward terms.

Other lenders provide different approaches. Ledn has simplified its offering to a single no-rehypothecation loan with rates starting at 9.99% and no origination fee for U.S. and Canadian borrowers. Strike has become the low-cost leader for simple Bitcoin loans with its ~9.5% APR and zero fee structure. Arch's tiered pricing rewards larger borrowers with rates that drop as low as 8.49% APR.

For borrowers who need to use Ethereum, Solana, or XRP as collateral, Arch remains the broadest option in the regulated market. Nexo's line of credit model still offers on-demand liquidity but comes with platform-specific terms, variable rates tied to NEXO token holdings, and a tier-based structure that requires careful evaluation. Unchained now serves business borrowers exclusively, with a $150,000 minimum loan size.

In the end, the right crypto loan comes down to more than just rates. It's about how the loan fits your goals, your tolerance for risk, and your need for flexibility or control over your collateral. Borrowers should look closely at the full structure, not just the APR, to find the right fit for their strategy.

Related Guides

Understanding crypto loans

• Which crypto loan is right for you?
• Not all crypto loans are made the same
• How to borrow against your crypto without losing control
• The truth about borrowing against digital assets
• Crypto lending 101: Comparing CeFi and DeFi

Crypto loans vs. alternatives

• Should you choose a crypto loan or a HELOC?
• Crypto loans vs. traditional financing: key differences explained
• Don't confuse a crypto loan with a crypto mortgage
• Crypto loan vs. crypto mortgage: which is right for you?
• Crypto loans for real estate: loan vs. mortgage explained

Risk and safety

• Margin calls in CeFi vs DeFi lending
• Understanding margin calls in crypto lending
• How lenders protect crypto collateral

Timing and structure

• Why there's never a bad time to get a crypto loan
• How crypto loans impact your taxes
• Open-term vs fixed-term crypto loans: which fits you?
• Crypto loans for real estate: loan vs. mortgage explained

The opinions expressed in the Blog are for general informational purposes only and are not intended to provide specific advice or recommendations for any individual or on any specific security or investment product.