Crypto Loans

Coinbase partners with Morpho, an open-source lending protocol on Base, to provide crypto loans up to $100,000. It takes less than a minute to trade your bitcoin (BTC) for an instant loan in USDC — US digital coin, a stablecoin.

You do not have to sell your bitcoin but instead can borrow against its value with variable interest rates. For now, Coinbase only offers bitcoin loans, but it plans to expand beyond that in the future. Its loans have no payment deadlines or fixed monthly payment dates. Instead, you choose when you want to repay your loan. There are also no fees unless your loan-to-value (LTV) ratio exceeds 86 percent, in which case there is an automatic liquidation and accompanying penalty fee.

However, Coinbase bitcoin loans are not available everywhere yet, including in New York. To review your eligibility, check your account. If it is unavailable, be sure to check back, as Coinbase says it is rolling the service out progressively.

• Why we like it

  Coinbase partners with Morpho, an open-source lending protocol on Base, to provide crypto loans up to $100,000. It takes less than a minute to trade your bitcoin (BTC) for an instant loan in USDC — US digital coin, a stablecoin.

  You do not have to sell your bitcoin but instead can borrow against its value with variable interest rates. For now, Coinbase only offers bitcoin loans, but it plans to expand beyond that in the future. Its loans have no payment deadlines or fixed monthly payment dates. Instead, you choose when you want to repay your loan. There are also no fees unless your loan-to-value (LTV) ratio exceeds 86 percent, in which case there is an automatic liquidation and accompanying penalty fee.

  However, Coinbase bitcoin loans are not available everywhere yet, including in New York. To review your eligibility, check your account. If it is unavailable, be sure to check back, as Coinbase says it is rolling the service out progressively.

• Pros and cons

  Pros

  • Loans up to $100,000
  • No payment schedule
  • No fees

  Cons

  • Affected by market downturns
  • Not available in all states

• More details

  Fee	No fees
  Supported coins for borrowing or loaning	271
  Interest Rate	Variable, set by open lending markets on Morpho
  Maximum Loan Amount	Up to $100,000

CoinRabbit offers crypto-backed loans starting at $100 with a $1 million maximum deposit. Over 296 currencies are accepted, and several different stablecoins are available. Funds are received in minutes, and you can receive loans in crypto like bitcoin, ethereum (ETH), USDC and tether (USDT). These loans carry an ranging from 12% to 17%, depending on how much you borrow and your chosen currency.

A credit check is required, but once approved, you typically receive funds within 15 minutes. It takes an average of one hour for CoinRabbit to return your crypto after you have paid off the loan.

CoinRabbit does not share exact fees, although it does list the ones it charges, such as a withdrawal fee and a fee for repayment from an external wallet.

• Why we like it

  CoinRabbit offers crypto-backed loans starting at $100 with a $1 million maximum deposit. Over 296 currencies are accepted, and several different stablecoins are available. Funds are received in minutes, and you can receive loans in crypto like bitcoin, ethereum (ETH), USDC and tether (USDT). These loans carry an ranging from 12% to 17%, depending on how much you borrow and your chosen currency.

  A credit check is required, but once approved, you typically receive funds within 15 minutes. It takes an average of one hour for CoinRabbit to return your crypto after you have paid off the loan.

  CoinRabbit does not share exact fees, although it does list the ones it charges, such as a withdrawal fee and a fee for repayment from an external wallet.

• Pros and cons

  Pros

  • 296+ currencies accepted
  • Up to $1 million in accepted deposits
  • Super-fast funding times

  Cons

  • Does not disclose fee amounts
  • Credit check required

• More details

  Fee	No available fee schedule
  Supported coins for borrowing or loaning	115
  Interest Rate	12% to 17%
  Maximum Loan Amount	Up to $1 million in accepted deposits

Binance offers its Flexible Loan, a variable rate, crypto-backed loan starting at just a dollar. Loans go up to $15 million, depending on the currency. However, there are a number of different currencies both available and accepted, including favorites like USDT, BTC and ETH. Interest rates are variable and updated regularly, but as of January 2025, interest rates were 1.33% for BTC, 2.48% for ETH and 8.70% for USDT.

There is no set payment schedule, so you can choose when you make payments. Even better, your collateral earns you rewards through your automatic subscription to its Simple Earn Flexible Products.

There are no transaction fees. However, Binance does not disclose the rest of its fee beyond the liquidation fee it assesses.

• Why we like it

  Binance offers its Flexible Loan, a variable rate, crypto-backed loan starting at just a dollar. Loans go up to $15 million, depending on the currency. However, there are a number of different currencies both available and accepted, including favorites like USDT, BTC and ETH. Interest rates are variable and updated regularly, but as of January 2025, interest rates were 1.33% for BTC, 2.48% for ETH and 8.70% for USDT.

  There is no set payment schedule, so you can choose when you make payments. Even better, your collateral earns you rewards through your automatic subscription to its Simple Earn Flexible Products.

  There are no transaction fees. However, Binance does not disclose the rest of its fee beyond the liquidation fee it assesses.

• Pros and cons

  Pros

  • Loans up to $15 million
  • Rewards program
  • No set payment schedule

  Cons

  • No available fee schedule
  • Loan amount depends on currency

• More details

  Fee	No available fee schedule
  Supported coins for borrowing or loaning	369
  Interest Rate	Variable. 1.33% - 8.70% as of January 2025
  Maximum Loan Amount	Up to $15 million

With Arch, terms are limited to just 12 months, making it ideal as a short-term loan. It only works with three currencies — bitcoin, ethereum and solana — and loan amounts vary based on the currency you use and how much you put up. Still, Arch advertises a 14% interest rate with a 1.5% origination fee.

No credit check is required, so it is great for new or bad credit, and you can receive instant qualification for loans of $1,000 or more. Loans are available up to $1 million — or more with company approval. Loans are dispersed in either USD (fiat) or USDC (stablecoin).

Arch is great for payment flexibility. There is no set payment schedule, and you can choose between amortized or interest-only payment schedules.

• Why we like it

  With Arch, terms are limited to just 12 months, making it ideal as a short-term loan. It only works with three currencies — bitcoin, ethereum and solana — and loan amounts vary based on the currency you use and how much you put up. Still, Arch advertises a 14% interest rate with a 1.5% origination fee.

  No credit check is required, so it is great for new or bad credit, and you can receive instant qualification for loans of $1,000 or more. Loans are available up to $1 million — or more with company approval. Loans are dispersed in either USD (fiat) or USDC (stablecoin).

  Arch is great for payment flexibility. There is no set payment schedule, and you can choose between amortized or interest-only payment schedules.

• Pros and cons

  Pros

  • Instant qualification
  • Loans for $1+ million
  • No credit check required

  Cons

  • Short terms
  • Only three currencies

• More details

  Fee	1.5% origination fee
  Supported coins for borrowing or loaning	3
  Interest Rate	14%
  Maximum Loan Amount	Up to $1 million