Coinbase
- Rate
- 5%
- LTV
- 40%
- Origination
- None
- Custody
- cbBTC on-chain
Total cost over 12 mo
$2,500
Variable rate — current snapshot ~5% APR, Morpho-powered. Algorithmic on-chain liquidation at 86% LTV with no grace period or warning level.
A sortable comparison of every Bitcoin-backed lender available to US individuals. Adjust the loan to see how your cheapest and safest options change.
Last updated April 2026Lower LTV = more BTC required but safer from liquidation.
Loan term
Total cost over 12 mo
$2,500
Variable rate — current snapshot ~5% APR, Morpho-powered. Algorithmic on-chain liquidation at 86% LTV with no grace period or warning level.
Liquidation price
$33,553
Margin call at $36,605. Liquidation at $33,553.
Includes 48hr margin-call grace period
9.99% APR up to 70% LTV. Three-stage cascade — warning at 75%, margin call at 83.33% (48-hour grace period), liquidation at 90.91%.
7 lenders eligible at 12 mo · sortable by any column · rates as of April 2026
| Action | ||||||||
|---|---|---|---|---|---|---|---|---|
| SALT | $33,553 | $36,605 | 9.99% at 40% LTV | $4,995 | None | 40% | Qualified | View → |
9.99% APR up to 70% LTV. Three-stage cascade — warning at 75%, margin call at 83.33% (48-hour grace period), liquidation at 90.91%. | ||||||||
| Coinbase | $35,469 | — | 5% at 40% LTV | $2,500 | None | 40% | cbBTC on-chain | View → |
Variable rate — current snapshot ~5% APR, Morpho-powered. Algorithmic on-chain liquidation at 86% LTV with no grace period or warning level. | ||||||||
| Strike | $35,886 | $43,576 | 9.5% at 40% LTV | $4,750 | None | 40% | Qualified | View → |
9.5% APR up to 50% LTV. Warning at 65%, margin call at 70% with a 72-hour grace period, liquidation at 85%. | ||||||||
| Ledn | $38,129 | — | 9.99% at 40% LTV | $4,995 | None | 40% | Qualified | View → |
Notifications begin at 70% LTV. Automatic liquidation at 80%. No grace period. | ||||||||
| Arch Lending | Not published | Not published | Varies | — | None | 40% | Institutional | View → |
Rates and terms customized per loan. Contact Arch for current minimums. | ||||||||
| Bitfinex Borrow | Not published | Not published | Varies | — | None | 40% | Exchange custody | View → |
Rate and liquidation curve fluctuate with market conditions — Bitfinex does not publish a single canonical threshold. Excluded from rate ranking and Safest pick. | ||||||||
| Xapo | Not published | Not published | Starting at 10.5% | $5,250 | None | 40% | Bank custody | View → |
Starting at 10.5% APR up to 40% LTV. Rates vary by borrower and jurisdiction, and Xapo does not publish a single global liquidation cascade. Excluded from Safest pick. | ||||||||
SALT
View →9.99% APR up to 70% LTV. Three-stage cascade — warning at 75%, margin call at 83.33% (48-hour grace period), liquidation at 90.91%.
Coinbase
View →Variable rate — current snapshot ~5% APR, Morpho-powered. Algorithmic on-chain liquidation at 86% LTV with no grace period or warning level.
Strike
View →9.5% APR up to 50% LTV. Warning at 65%, margin call at 70% with a 72-hour grace period, liquidation at 85%.
Ledn
View →Notifications begin at 70% LTV. Automatic liquidation at 80%. No grace period.
Arch Lending
View →Rates and terms customized per loan. Contact Arch for current minimums.
Bitfinex Borrow
View →Rate and liquidation curve fluctuate with market conditions — Bitfinex does not publish a single canonical threshold. Excluded from rate ranking and Safest pick.
Xapo
View →Starting at 10.5% APR up to 40% LTV. Rates vary by borrower and jurisdiction, and Xapo does not publish a single global liquidation cascade. Excluded from Safest pick.
Lender data verified April 28, 2026. Each lender’s data source is linked below — verify directly before opening a loan.
We aim to include every lender meeting our base criteria. The following are credible but excluded for the reasons noted.
How we make money. BWP is independent and reader-funded. The Loan Calculator does not currently have active affiliate partnerships — we may add them post-launch. When we do, every affiliate lender will be clearly marked and the inclusion criteria above will not change. See our affiliate policy for full details.