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Lendingblock crypto loan review

Get same-day funding with no origination fees, but you must back your loan with Lendingblock tokens to get low rates.

Bottom line: If you’re willing to have your short-term loan funded in stablecoin, Lendingblock offers instant funding with no origination fees. But to get the low rates advertised on its website, you must be willing to back your loan with Lendingblock’s native LND tokens in addition to your collateral.

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6.40% to 10%

Interest Rate


Max. Loan Amount


Accepted CollateralBTC, ETH
Issued CurrenciesUSDT
Interest Rate6.40% to 10%
Min. Loan Amount$50
Min. Margin Call Threshold65%


  • No origination or service fees
  • May have 2 or more active loans at a time
  • Instant funding
  • Loans as low as $50


  • Only accepts Bitcoin and Ethereum as collateral
  • Rates are lowest if you back your loan with LND
  • Pays out in USDT only
  • Additional collateral required at 65%
  • No liquidation LTV margin stated
  • Maximum loan term is 6 months
  • Lacks customer service access
  • Doesn’t offer insurance or use a third-party custodian for collateral

Our take on Lendingblock

Lendingblock offers fairly low interest rates on its short-term loans, especially to borrowers who already own LND tokens. But even its highest interest rate of 10% is lower than some of its competitors. For example, Unchained Capital has interest rates that start slightly over 11% and go up to over 14%.

And with Lendingblock you won’t pay an origination fee, which many other lenders like BlockFi Lending and Unchained Capital charge.

Lendingblock’s greatest flaw is the lack of clarity about its security protocols. Like all crypto-backed loans, Lendingblock’s aren’t covered by the CDIC. But Lendingblock doesn’t offer an alternate insurance or use a third-party custodian to secure your collateral.

The company’s terms and conditions make it clear that if the company goes bankrupt or is subject to a hacker, you’re the one who takes the hit financially. Yet loan terms are so short, you may consider Lendingblock worth the risk to your collateral.

Customer service is available only through a form on the company’s site. If something goes wrong or you have a question, your only option is to send a query through the form and wait for them to get back to you. We sent a couple of emails requesting information and never got a reply.

Borrow 50% of your collateral up to $100,000

Lendingblock offers loans of $50 to $100,000, depending on how much Bitcoin or Ethereum you’re willing to put up as collateral for the loan.

This lender requires a 50% loan-to-value (LTV) ratio, which means you can borrow half of the value of the Bitcoin or Ethereum you have in your Lendingblock wallet. For example, if you need a $20,000 loan, you have to put up $40,000 as collateral.

You also must continually monitor the value of the crypto you put up as collateral to ensure it keeps its value. Should its value decrease, you’re required to add more crypto to maintain your loan’s LTV.

What happens if my crypto drops in value?

Should your collateral lose value during the term of your loan and cause your LTV to rise above 65%, Lendingblock notifies you to add additional collateral and bring your account back into good standing.

If you don’t and your LTV increases above a stated threshold, Lendingblock liquidates your collateral to balance the account.

Unlike competitors, Lendingblock doesn’t publish its liquidation threshold in its terms and conditions documentation or on its website. Typically, crypto lenders liquidate around 80% to 90% LTV, but you’ll need to confirm Lendingblock’s threshold before you agree to borrow.

If your collateral increases in value, dropping your LTV below 40%, the excess collateral is automatically released back to you.

Lendingblock rates, fees and terms

Lendingblock doesn’t charge an origination or any other upfront fees. Your loan term determines your APR. And Lendingblock offers rate discounts that depend on the amount of LND tokens you’re willing to stake in addition to your collateral against the loan.

TermNo LNDGoldSilverBronze
1 month10.00% APR8.00% APR9.00% APR9.50% APR
3 months9.00% APR7.20% APR8.10% APR8.55% APR
6 months8.00% APR6.40% APR7.20% APR7.60% APR

The LND required to reach each tier is updated regularly on the lender’s website, where you can use its Borrowing Calculator to determine your tier and qualifying interest rates. Required LND per tier can change over time, so confirm qualifications with Lendingblock before applying for a loan.

What crypto can I use?

Lendingblock accepts LND, Bitcoin (BTC) and Ethereum (ETH) as collateral and funds loans in Tether (USDT). Tether is a stablecoin, which means you’ll need to cash it in to use the funds, unless you’re taking the loan to buy more crypto.

How fast can I get my money?

This lender advertises that you can borrow in as little as 60 seconds, but it can depend on whether you’re a new user or already use the Lendingblock wallet. If you’re new, you’ll need to add the time to create an account and transfer your digital assets before you can borrow.

Selling your USDT for USD typically only takes a few minutes, depending on the exchange you use. You can then exchange your funds to CAD. But transferring that money from your wallet to a bank account can take between one and five business days, depending on your bank’s transfer policy.

Some wallets or exchanges will transfer USD to a PayPal account, which can speed up the process, as PayPal instant transfer usually takes only one to three business days.

How does Lendingblock protect my collateral?

Unlike many other crypto lenders, Lendingblock doesn’t use a third-party custodian or provide insurance for your collateral. It provides its own wallet to hold your digital assets, and takes ownership once you offer your assets as collateral.

Crypto lenders, including Lendingblock, aren’t CDIC-insured. And because Lendingblock acts as its own custodian, any private insurance you purchase becomes meaningless if the lender goes out of business while still holding your collateral.

Talk to a legal or financial adviser about the risks involved in borrowing before you decide to move forward with a loan.

How to apply

If you already use the Lendingblock wallet, you need only to choose the terms of your loan, enter the amount of your collateral and review a summary of the loan before you decide to accept the transfer of USDT to your wallet.

If you’re a new user, you’ll have to transfer your Bitcoin or Ethereum to the Lendingblock wallet first. The best advertised interest rates require you to purchase and use LND tokens as collateral for the loan.

How repayments work

Because Lendingblock loan terms are short, you don’t have monthly payments like a typical personal loan. Instead, you pay back the borrowed amount plus interest at the end of your loan’s term. Lendingblock doesn’t charge a prepayment penalty.

Lendingblock reviews are hard to find

This lender doesn’t have any reviews on the Better Business Bureau or on crypto review sites. And Lendingblock only has two reviews on Trustpilot, both of which are negative and unrelated to its Borrow feature. Even Reddit users have little to say about the company.

Alternatives to Lendingblock

Lendingblock allows you to access the value of your crypto without having to sell it. But if you want a lender that better secures your collateral or if you need a longer term, shopping around is the best way to find a crypto lender that better suits your needs.

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50% LTV ratio
Borrow US$100 minimum
~10% APY
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US residents: As of September 2019, US-based users can only trade USD on the American dollar onramp of Binance, Binance.US.
UK residents: In addition to normal crypto trading services, Binance offers margin lending. As this is a regulated activity which they are not authorised to offer in the UK, we advise you not to use this service. If you're interested in margin trading, see authorised providers.
CA residents: Binance is not currently available to Ontario-based users.
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50% LTV ratio
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