Crypto Loan Rates by Lender in October 2026: BTC, ETH and XRP
By Colin McMahon
November 2, 2026 • 8 min read
Table of contents
For a U.S. crypto loan under $250,000, published fixed APRs in October 2026 run from 8.75% to 11.49% for bitcoin, 8.75% to 10.75% for Ethereum, and 11.95% to 13.50% for XRP, among lenders that publish fixed rates. Fewer lenders accept XRP, and those that do let you borrow less against it. Every figure below comes from each lender's own published pricing, checked on October 27, 2026.
Five of the eight lenders compared here accept Ethereum, and three accept XRP. The coin you pledge decides which lenders you can use, how much you can borrow and how far prices can fall before a margin call.
Crypto loan rates by lender and coin (October 2026)
Published APR for a loan under $250,000. A dash means the lender does not accept that coin.
| Lender | Bitcoin (BTC) | Ethereum (ETH) | XRP | Fees |
|---|---|---|---|---|
| SALT | 8.75% at 50% LTV | 8.75% at 50% LTV | — | No origination fee |
| Figure | 9.999% at 50% LTV | 9.999% at 50% LTV | — | 1% origination |
| Arch | 10.49% | 10.49% | 13.50% ($25,000 minimum) | 1.49% origination (BTC, ETH); 1.50% (XRP) |
| Strike | 10.50% (monthly interest) / 11.25% (interest at maturity) | — | — | No origination or liquidation fees |
| Milo | 10.75% | 10.75% | 11.95% | 2% origination, included in APR |
| Ledn | 11.49% | — | — | Ledn says its 2% administration fee does not apply in the U.S. |
| Coinbase (via Morpho) | Variable, advertised from 5.1% | Variable | Variable | Processing fee of 2% on the first $250,000; possible platform fee |
| Unchained | 14.18% (published example) | — | — | 2% origination; $150,000 minimum |
SALT and Figure each publish one rate table for every coin they accept, so the same rate is shown for BTC and ETH. Arch publishes shared tiers for BTC, ETH and SOL, and a separate table for XRP. Coinbase loans are not directly comparable: the variable rate floats with an onchain lending market, Coinbase also offers fixed-rate loans with an indicative rate shown in the app, and loans are paid out in USDC.
APR includes interest and fees, so it is the number to compare. Milo's interest rate is 8.75% for BTC and ETH and 9.95% for XRP; the 2% origination fee brings the APR to 10.75% and 11.95%.
How much you can borrow against each coin
Lenders set a lower maximum loan-to-value (LTV) for coins that move more in price, so the same loan needs more collateral. Arch allows 60% on BTC, 55% on ETH and 45% on XRP. Milo allows 50% on BTC and ETH (2x collateral) and 40% on XRP (2.5x). Figure allows up to 75%, while SALT's standard tier is 50% and it charges less at 30%. A lower starting LTV costs less at some lenders and leaves more room before a margin call.
How far prices can fall before a margin call
Thresholds differ by coin as well as by lender. The table shows each lender's published thresholds and how far the coin's price would have to fall from the start of the loan to reach the first one, starting from the LTV shown (the maximum at Milo and Arch, the typical start at Ledn). The drop figures ignore accrued interest, which pushes LTV up a little over time.
| Lender and coin | Starting LTV | First warning or margin call | Price drop to reach it | Liquidation |
|---|---|---|---|---|
| Milo, BTC or ETH | 50% | 67% LTV | About 25% | Disclosed in loan documents |
| Milo, XRP | 40% | After about a 40% drop | About 40% | Disclosed in loan documents |
| Arch, BTC | 60% | 70% LTV | About 14% | 80% LTV |
| Arch, ETH | 55% | 65% LTV | About 15% | 75% LTV |
| Arch, XRP | 45% | 55% LTV | About 18% | 65% LTV (partial) |
| Ledn, BTC | 50% | 70% LTV notification | About 29% | 80% LTV |
| Coinbase | Set in app | No margin call | — | Automatic at a liquidation LTV that varies by asset, plus a 4.38% penalty |
A margin call gives you time to add collateral or pay down the loan. An automatic liquidation does not. Check both levels before you choose a lender, and check them for the coin you plan to pledge.
What a $50,000 crypto loan costs for one year
The same loan at each lender's published APR for loans under $250,000. These are simplified estimates: APR multiplied by $50,000.
| Lender and coin | APR | Approximate one-year cost | Collateral needed (at the LTV shown) |
|---|---|---|---|
| SALT, BTC or ETH | 8.75% | $4,375 | $100,000 (at 50%) |
| Figure, BTC or ETH | 9.999% | About $5,000 | $100,000 (at 50%) |
| Arch, BTC or ETH | 10.49% | $5,245 | About $83,300 (BTC, 60%) / $90,900 (ETH, 55%) |
| Strike, BTC (monthly interest) | 10.50% | $5,250 | $100,000 (at 50%) |
| Milo, BTC or ETH | 10.75% | $5,375 | $100,000 (50%) |
| Ledn, BTC | 11.49% | $5,745 | $100,000 (at 50%) |
| Milo, XRP | 11.95% | $5,975 | $125,000 (40%) |
| Arch, XRP | 13.50% | $6,750 | About $111,100 (45%) |
Here is how Milo's bitcoin figure breaks down. Interest at 8.75% on $50,000 is $4,375 a year, or about $364.58 a month on the interest-only plan. The 2% origination fee adds $1,000, for a total of $5,375, which is 10.75% of the loan. On XRP, interest at 9.95% is about $414.58 a month.
Your actual cost depends on when fees are charged, whether you repay early and your final quote.
Want your own numbers? Milo's crypto loans start at $5,000 against BTC, ETH or XRP, with a fixed rate, no credit check and no prepayment penalty. See your terms on Milo's crypto loan page.
Rates for larger loans
Most lenders cut rates as loans grow. These are the lowest published APRs and what they require.
| Lender | Lowest published APR | What it takes |
|---|---|---|
| Arch, BTC or ETH | 7.25% | $10 million or more (custom quote); 7.74% for $5M to $10M |
| SALT | 7.49% | 30% LTV, one-year term |
| Strike, BTC | 7.49% | $5M to $10M with monthly interest |
| Arch, XRP | 8.50% | $5 million or more (custom quote); 10.00% for $2M to $5M |
| Ledn, BTC | 9.25% | $2 million or more |
| Milo | 10.75% (BTC, ETH) / 11.95% (XRP) | Published starting rates; ask for a quote at larger sizes |
Milo's crypto loan terms
Milo Credit is a licensed U.S. direct lender (NMLS #1811449). These are the published terms as of October 27, 2026.
| Term | Bitcoin and Ethereum | XRP |
|---|---|---|
| Interest rate | From 8.75%, fixed | 9.95%, fixed |
| APR | From 10.75% | 11.95% |
| Maximum LTV | 50% (2x collateral) | 40% (2.5x collateral) |
| Margin call | At 67% LTV, about a 25% drop | At about a 40% drop |
| Minimum loan | $5,000 | $5,000 |
| Term | 1 year, plus extensions subject to approval | Same |
| Payments | Monthly interest-only, or no monthly payments (8.95% interest in Milo's published example) | Monthly interest-only |
| Custody | Qualified custodians (Coinbase and BitGo); never rehypothecated | Same |
| Credit check | None | None |
| Prepayment penalty | None | None |
Principal is due at maturity. If you want to buy a home, Milo also offers a 30-year crypto mortgage backed by bitcoin or Ethereum. XRP is not accepted for mortgages.
How to compare crypto loan quotes
- Confirm the lender accepts your coin. Bitcoin has eight options here; XRP has three.
- Ask for quotes at the same loan amount, LTV and term.
- Compare APR, not the interest rate.
- Write down the margin call and liquidation levels for your coin, and any liquidation fee.
- Check whether interest is paid monthly or at maturity, and price both if offered.
- Confirm who holds your crypto, whether it can be rehypothecated, and what happens at the end of the term.
Frequently asked questions
Why do XRP loans cost more than bitcoin loans?
Milo and Arch, the two lenders here that publish fixed XRP pricing, both set a lower maximum LTV and a higher rate for XRP than for bitcoin. Milo charges 11.95% APR for XRP against 10.75% for BTC and ETH. Arch charges 13.50% for XRP loans of $25,000 to $500,000, against 10.49% for BTC and ETH under $250,000.
Are Ethereum loan rates the same as bitcoin loan rates?
At several lenders, yes. SALT, Figure, Arch and Milo publish the same rate for BTC and ETH. The maximum LTV can differ: Arch allows 60% on BTC and 55% on ETH.
Which lenders accept XRP as collateral?
Among the lenders compared here, Milo, Arch and Coinbase accept XRP. Coinbase limits XRP borrowing to 100,000 USDC. SALT, Figure, Strike, Ledn and Unchained do not list XRP as accepted collateral.
What happens if my crypto falls in value?
Your LTV rises. At the lender's margin call level, you are asked to add collateral or pay down the loan. If LTV keeps rising to the liquidation level, the lender can sell some of your crypto to repay the loan. Levels differ by lender and by coin.
Is borrowing against crypto taxable?
In the U.S., taking out a loan is generally not treated as selling your crypto, but a liquidation of collateral can be a taxable sale. Tax rules depend on your situation, so check with a tax professional. Our guide on how crypto loans affect your taxes covers the basics.
How we keep this page current
We check each lender's published pricing and update this page monthly, or sooner when a lender changes its rates. Last checked: October 27, 2026.
Sources: SALT rates and fees · Figure crypto-backed loan · Arch loan rates · Arch collateral · Arch XRP loans · Strike borrowing rates · Ledn bitcoin-backed loans · Coinbase borrow · Coinbase loan overview · Coinbase loan fees · Coinbase loan collateral · Unchained pricing · Milo crypto loan · Milo FAQ
Related reading: U.S. crypto loan lenders compared (2026) · How to borrow against XRP without selling · Open-term vs. fixed-term crypto loans
Borrow against your BTC, ETH or XRP without selling it. Loans from $5,000, fixed rates, and collateral held by qualified custodians. See if you qualify at milo.io.
Rates and terms shown are published figures as of October 27, 2026 and can change at any time. Lender comparisons use each lender's public pricing for loans under $250,000 unless noted. All Milo loans are subject to approval and eligibility requirements, and are not available in every state. This article is for information only and is not financial or tax advice. Milo Credit, LLC, NMLS #1811449.
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.
Author
Colin McMahon
Senior Manager, Loan Origination
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