Helio crypto loans review April 2019 | finder.com

Helio crypto loans review

We value our editorial independence, basing our comparison results, content and reviews on objective analysis without bias. But we may receive compensation when you click links on our site. Learn more about how we make money from our partners.

What happens when I click Go to site?
  • Clicking Go to site will take you to your Online Application on the product issuer's website. You do not need to be an existing customer of this provider to apply.
  • Your application will typically take you no more than 10-15 minutes to complete.
  • Conditional approval will typically happen within 1 business day after submitting your application. In many cases, you will have your funds within a week.
Click here to start your application >>

Borrow up to $3,000,000 on the value of your cryptocurrency.

Helio is an Australia-based crypto lender that allows you to access the value of your cryptocurrency without cashing in your coin. You don’t need good credit to qualify, though you’ll have to pass an identity check. However, rates might not be as competitive as a traditional personal loan — or even some other crypto-backed lenders.
Product NameHelio crypto loan
Min. Loan Amount$3,000,000
Max. Loan Amount$25,000
APR12% to 20%
Interest Rate TypeFixed
Minimum Loan Term0.25 years
Maximum Loan Term4 years
RequirementsHelio doesn’t have any specific requirements to apply for a loan. However, it does process your application using anti-money laundering (AML) and know your customer (KYC) identity verification checks.

Go to Helio's website
  • Helio doesn’t have any specific requirements to apply for a loan. However, it does process your application using anti-money laundering (AML) and know your customer (KYC) identity verification checks.

What makes Helio crypto loans unique?

Your credit score and income don’t affect your Helio crypto loan application — the lender partly bases your rate on how much you borrow compared to the value of your crypto holdings.

And unlike most personal loans, you have a choice of making interest-only repayments and then paying off the balance when the term is up or making traditional repayments on both the interest and principal. Helio also offers a wider range of loan terms than some crypto-backed lenders, running from 3 months to 48 months.

What is a Helio crypto loan?

A Helio crypto loan is a loan that uses cryptocurrency as collateral. You can back your Helio loan with:

  • Bitcoin (BTC)
  • Ether (ETH)
  • Litecoin (LTE)
  • Ripple (XRP)

While loan amounts range from $25,000 to $3,000,000, how much you can borrow depends on your loan-to-value ratio (LTV). Helio offers LTVs of 30%, 40% or 50%. The higher your LTV, the higher your APR, which can run from 12% to 20%.

If approved, Helio transfers your cryptocurrency to a secure storage address before sending the funds to your bank account. It transfers the collateral back to your account after you’ve paid off your loan in full.

What are the benefits of a Helio crypto loan?

From its flexible repayment options to its lack of fees, here are a few perks of borrowing through Helio:

  • Works with four cryptocurrencies. You can get funding backed by BTC, ETH, LTC and XRP.
  • No fees. There are no fees to sign up, take out a loan, pay it back early or get your collateral back.
  • Flexible repayment options. Helio offers the choice between interest-only and full repayments.
  • Good credit not required. Like other crypto loans, traditional ways of determining your creditworthiness don’t apply — such as your credit score.

What to watch out for

From its high starting rates to its barebones website, consider these potential drawbacks before borrowing:

  • Limited customer support. The only way to reach out to Helio is by email — which can be frustrating if you need an answer right away.
  • Not the most competitive rates. You might be able to find even lower rates with other crypto lenders and personal loan providers.
  • High minimum amount. Not only is the starting amount high — you also need to have at least twice the funds to qualify for a loan, thanks to a maximum 50% LTV.
  • Larger amounts available elsewhere. Looking to borrow big? It’s possible to find crypto-backed financing over $3,000,000 with other similar lenders.
  • Barebones website. You might not be able to find all of the information you need by visiting its limited website.

Compare more cryptocurrency loans

BlockFi Cryptocurrency LoansHave $4,000+ in cryptocurrency. Not available in NV, SD, VT or HI.Read review
Bitbond Small Business LoansBitbond reviews your application and connected business accounts — like eBay, Amazon and PayPal — to determine your risk ratingRead review
BTCPOP Peer-to-Peer Bitcoin LoansValid email address and verified IDRead review

What does the Internet say about Helio?

There’s virtually nothing online about Helio crypto loans as of April 2019. Helio announced it would start offering crypto-backed loans in December 2018, so it’s been around for less than six months.

It doesn’t have any mentions on the Better Business Bureau website, Trustpilot or Reddit.

Am I eligible?

Helio doesn’t have any specific requirements to apply for a loan. However, it does process your application using anti-money laundering (AML) and know your customer (KYC) identity verification checks.

To qualify, borrowers need to provide documents proving they are who they say they are, such as a government-issued photo ID and proof of address — like a recent utility bill.

How do I apply?

You can apply for a Helio crypto loan online by following these steps:

  1. Go to the Helio website and click Get a Loan.
  2. Select the type of cryptocurrency you have, how much you want to borrow, how soon you plan on paying it back, your LTV ratio and whether you want to make interest-only or full repayments. Click Get Started.
  3. Enter your email address and click Continue.
  4. Go to your email account and click through the link to verify your email address.
  5. Enter your name, country and phone number. Click Complete.
  6. Wait for Helio to review your details and get in touch with next steps.

I got the Helio crypto loan. Now what?

Helio will continue to hold your crypto collateral in a separate account while you repay your loan.

Opt for interest-only repayments? You only have to pay the interest that adds up each month during the life of your loan. However, the full balance is due when the term is up.

If you repay your loan with interest and principal repayments, you’ll owe more each month, but you won’t have to make a large one-time payment at the end of your term.

Reach out to your point of contact at Helio as soon as possible if you have any questions or concerns.

Bottom line

Helio is a relatively new lender that offers straightforward crypto-backed funding. It accepts four types of coin as collateral, doesn’t charge any fees and has relatively long terms for a crypto lender. However, you might be able to find larger amounts and more competitive rates elsewhere.

To see how it stacks up to similar lenders, check out our guide to crypto loans. Or if you’re not sure about using your coin as collateral, consider your personal loan options instead.

Frequently asked questions

Was this content helpful to you? No  Yes

US Personal Loans Offers

Important Information*
Credible Personal Loans

Get personalized rates in minutes and then choose a loan offer from several top online lenders.

Even Financial Personal Loans

Get connected to competitive loan offers instantly from top online consumer lenders.

LendingClub Personal Loan

A peer-to-peer lender offering fair rates based on your credit score.

SoFi Personal Loan Fixed Rate (with Autopay)

No fees. Multiple member perks such as community events and career coaching.

Ask an Expert

You are about to post a question on finder.com:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder.com provides guides and information on a range of products and services. Because our content is not financial advice, we suggest talking with a professional before you make any decision.

By submitting your comment or question, you agree to our Privacy and Cookies Policy and Terms of Use.

Questions and responses on finder.com are not provided, paid for or otherwise endorsed by any bank or brand. These banks and brands are not responsible for ensuring that comments are answered or accurate.
Go to site