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4 Best Crypto Lending Platforms of September 2022

A curated list of the best crypto lending platforms for rates, terms, security, and more.

1 min read

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ALSO CONSIDER: Best crypto exchanges || Best crypto staking platforms

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Nexo is one of the best crypto lending platforms that allows users to earn interest on their digital assets. The platform supports major cryptocurrencies such as Bitcoin, Ethereum, Litecoin, XRP, and more.

Best overall

The highest paying crypto lending platform that provides interest daily

Overall, Nexo is a reliable and user-friendly lending platform that offers competitive lending rates. It is a good choice for those looking to access funding without having to sell their cryptocurrency holdings.

Intro offer

Invite friends and earn up to $1,000, paid out in Bitcoin.

Frequently asked questions

Pros & Cons

It's difficult to forecast what interest rates you'll receive
To get the greatest return on this crypto lending platform, you must stake NEXO tokens
Withdrawal fees are waived three times per month

Regulated and licensed to operate in most states of the USA, as well as in Canada, Hong Kong, and Europe. Arguably the safest crypto lending platform.

There are many different cryptocurrencies to choose from
Deposits with high-interest rates, up to 36% per year


Traditional brokerage firms, cryptocurrency exchanges are not members of the Securities Investor Protection Corp. (SIPC). Therefore, unless user terms specify otherwise, investors with cryptocurrency assets commingled on a custodial cryptocurrency exchange could potentially lose their funds as unsecured creditors.

Final Verdict

If you want to buy or sell cryptocurrencies, opening an account with a cryptocurrency exchange is a great way to start. Crypto exchanges function similarly to online brokerage platforms, providing you with the tools you need to buy and sell digital currencies and tokens like Bitcoin, Ethereum, and Dogecoin.

Open account with Nexo



Midas.Investments offers investments in almost every top crypto asset and boasts exceptional interest rates. Their goal is to help investors in cryptocurrencies gain higher yields.


Best Yield

Market-leading yields on a wide array of crypto assets

Midas.Investments can provide excellent returns, but they are difficult to use for some and lack some of the insurance options provided by other large platforms.

MIDAS token

Earn up to 27.45% when staking MIDAS

Frequently asked questions

Pros & Cons

Option to boost APY by receiving payouts in MIDAS coin
Incredibly high yields on a wide range of crypto assets, up to 30.01% per year
Some users have indicated that the user interface could be better for beginners


Traditional brokerage firms, cryptocurrency exchanges are not members of the Securities Investor Protection Corp. (SIPC). Therefore, unless user terms specify otherwise, investors with cryptocurrency assets commingled on a custodial cryptocurrency exchange could potentially lose their funds as unsecured creditors.



CoinLoan is definitely one of the best crypto lending platforms that allows users to earn high-interest rates on their crypto holdings.


Best User Experience

Very easy to use crypto lending platform and some of the most competitive interest rates on the market

Overall, CoinLoan is a convenient and easy-to-use crypto lending platform that offers competitive interest rates for crypto assets on its savings accounts. While it is still relatively new and does not yet support all major cryptocurrencies, it is a promising platform with a lot of potential to increase your passive income.

CLT token

Earn higher interest and pay lower fees when staking their CLT token

Frequently asked questions

Pros & Cons

Stake CLT tokens to receive the highest interest rate
Global coverage
You can store both fiat and cryptocurrency funds in the same account
Lending rates on this crypto lending platform are very competitive
Approved and licensed by the European Commission, making it one of the safest crypto lending platforms
It's a relatively young cryptocurrency savings platform with just a few years of operation


Traditional brokerage firms, cryptocurrency exchanges are not members of the Securities Investor Protection Corp. (SIPC). Therefore, unless user terms specify otherwise, investors with cryptocurrency assets commingled on a custodial cryptocurrency exchange could potentially lose their funds as unsecured creditors.



YouHodler is a crypto-backed lending platform that allows users to collateralize their digital assets and receive loans in fiat or stablecoins. Currently, the platform supports 56 different digital assets, including popular cryptocurrencies such as Bitcoin, Ethereum, XRP, and Litecoin.


Most Innovative

Arguably the most innovative lending service in the crypto lending industry

Overall, YouHodler is a user-friendly platform that offers competitive interest rates in fiat, crypto, or stablecoins.

Not Available in USA

Only available to users in select countries.

Frequently asked questions

Pros & Cons

Not available in all countries: YouHodler is currently only available to users in select countries
Competitive interest rates: YouHodler offers some of the most competitive interest rates in the industry
High fees: Some of their fees for using the platform can be much higher than the competition's
User-friendly platform: The YouHodler platform is designed to be user-friendly and intuitive, making it easy for even first-time users to get started


Traditional brokerage firms, cryptocurrency exchanges are not members of the Securities Investor Protection Corp. (SIPC). Therefore, unless user terms specify otherwise, investors with cryptocurrency assets commingled on a custodial cryptocurrency exchange could potentially lose their funds as unsecured creditors.

What is a crypto lending platform?

Before we delve more deeply into how crypto lending platforms work, you must understand precisely what they are. Essentially, a crypto lending platform functions as a traditional lending platform.

You use a crypto lending platform to a crypto asset to earn passive income with an annual percentage yield, which gets lent on your behalf via a third party. Instead of dealing with funds in fiat, your funds get held in a cryptocurrency of your choice.

To begin earning money on your cryptos, it's as simple as opening an account. This step lets your crypto assets start working for you. As you can see, this approach represents an excellent way to break into the crypto investing world without diving immediately into the deep end of the pool.

How does a crypto lending platform work?

Admittedly, there are some essential differences between a traditional lending platform and a crypto lending platform. Instead of simply depositing money into your account, you transfer it into a crypto assets wallet. This wallet gets controlled by the lending platform provider you choose.

Once you've funded your wallet, you'll begin to earn interest every time another platform user borrows your crypto assets at a pre-arranged interest rate. This interest rate will vary based on a variety of factors, including market prices.

After all, when demand proves high, and the supply side of things struggles to keep up, expect to see interest rates skyrocket. Of course, the lending platform you choose significantly impacts the final price you'll receive for lending cryptos.

For this reason, the platform you choose remains among the most vital components of a successful cryptocurrency lending strategy.

A crypto lending platform versus a traditional lending platform

So far, we've focused on the similarities between traditional and crypto lending platforms. But you must also be aware of some critical differences before you start to earn interest in cryptos. These differences relate to:

  • Collateralization

  • FDIC Insurance

  • Yields

  • Fund access

What do you need to know about each of these critical areas of difference? Let's take a closer look.

That way, you'll know what to expect before picking a platform and funding your first crypto wallet. We'll start by tackling the topic of collateralization.


Many crypto lending platforms require what's known as the collateralization of crypto assets. Why? Because collateralization significantly reduces the risks associated with dealing with cryptos.

For example, BlockFi requires a 50 percent [loan-to-value (LTV) collateralization. This LTV rate compares the amount of a loan a consumer wants to take out against a potential purchase value.

As for collateralization? It refers to the fair market value of the assets used to secure a loan.

How do companies determine collateral value? By looking at the recent sale prices of similar assets. In some cases, this process may involve appraisal by a qualified expert, too.

Collateralization permits cryptocurrency companies to maintain a large buffer. This buffer protects the exchange or platform should the borrower neglect to pay interest payments on a loan.

The buffer also provides safeguards should the market correct. This approach to lending shields companies against the capriciousness of the crypto market.

The collateralization approach does something else. It nixes the need to perform traditional credit checks.

Why? Because the collateral provided guarantees the assets in question.

Of course, you won't find this level of collateralization with a traditional bank loan. For this reason, traditional banks prove far more vulnerable to loan defaults. That's why they perform credit checks to estimate whether a borrower proves creditworthy.

FDIC Insurance

What's another key difference between a traditional lending platform through a bank and one through a crypto exchange or platform? FDIC insurance.

Most traditional bank lending platforms come with a $250,000 Federal Deposit Insurance Corporation (FDIC) policy. For this reason, many people assume that crypto lending platforms have similar safeguards.

But don't make this faulty assumption. Such is not the case.

Many crypto lending platforms don’t have any associated federal insurance. That said, a growing number of them are making up for this with private insurance provided via companies like Lloyd's of London and AON.

Is this insurance essential? Absolutely.

Cryptocurrency companies have had to get creative about how they protect digital assets. As more money continues to flow into the crypto-asset market, digital currency companies will present tempting targets to hackers.

As losses from hacks continue to rise, we expect a growing number of companies to turn to outside-of-the-box security strategies. These strategies will protect the funds consumers entrust to crypto lending platforms.


We've been conditioned to expect very little from traditional bank lending platforms when it comes to yields. In a survey of the top high-yield online lending platforms, Bankrate annual percentage yields hovered between 0.52 percent with CIBC Bank USA and 0.65 percent with Quontic Bank.

These rates are nothing to write home about. Yet, they represent some of the highest-yield lending platforms available in the traditional banking world today!

As for crypto lending platforms? Get ready for much larger yield numbers.

Yields on cryptocurrencies range from about one percent to twenty percent or more. Yes, you read that right.

As you can see, these yields prove significantly higher than what you'll get with traditional lending platforms.

Why such a substantial difference? Crypto banks can’t produce money supply, so they attract investors with high yields.

As a result, supply and demand for cryptos determine interest rates. Because demand remains far higher than supply across a broad range of cryptocurrencies, expect to make more when lending digital coins via a lending platform.

Fund Access

Another significant factor you must get used to with crypto lending platforms is limited fund access. Traditional lending platforms let you freely withdraw funds up to six times per month without restrictions or penalties. But crypto lending platforms function differently.

They may limit your access to assets for a set amount of time from the date you make a deposit. They may also charge you fees for withdrawals, especially when you need to liquidate assets before the end of the pre-set period.

This reality can prove a nasty surprise for consumers who don't understand all aspects of dealing with cryptos. After all, there's currently no standardized guidance when it comes to withdrawal limits. For this reason, it can be tough to summarize what's standard across the industry.

Always read the fine print before funding a wallet through any platform or exchange. It doesn't hurt to read the company's frequently asked questions (FAQs), either. That way, you can learn more about potential fees.

Or, if you're lucky enough to work with a company that offers live customer service, ask a representative about how to gain access to funds. That way, you'll never get charged more than you should.

What to look for in a crypto lending platform

After considering the yields listed above, are you ready to learn more about earning interest on your cryptos? If so, you're far from alone. But you'll need to keep a few factors in mind as you begin to explore which platform is right for you.

Some things to research when selecting a crypto lending platform provider include:

  • The coins supported by the company

  • The withdrawal restrictions in place

  • The availability of crypto assets for purchase

  • The loan-to-value (LTV) rates offered by the brand

  • Whether compound interest is provided via the platform

  • The security of the platform

Each of these factors will tell you a wealth about what working with a specific company will look like. With that in mind, let's take a closer look at what you should consider when searching out the right crypto savings platform for your financial needs.

Coins that crypto lending platforms offer

When dealing with a traditional bank account, you don't have to make decisions about currencies. Your nation's fiat currency chooses you.

But different crypto lending platforms providers different types of cryptocurrencies. You must be prepared to deal with this significant deviation from mainstream lending platforms.

Where to start when it comes to selecting a cryptocurrency? Bear in mind that no account provider will permit you to earn interest on every coin on the market. After all, these platforms need to make a profit, too.

For this reason, you should carefully verify which digital currencies are supported by each company you consider. What's more, if you already own cryptocurrency, you may need to get even pickier.

What do we mean? There's no point in selecting a provider that can't support the coins you possess. If you're lucky enough to hold assets in Bitcoin (BTC), Ethereum (ETH), or even Litecoin (LTC), this likely won't prove an issue.

These are widely accepted cryptos among almost the entire crypto lending space. But if you're the proud owner of a stash of Dogecoin, DentaCoin, or KodakCoin, you'll need to dig deep to find a company that supports your weird and wacky assets.

Are you ready to find out more about the most popular cryptocurrencies and altcoins on the market today? If so, take a look at our comprehensive list of the most commonly used cryptos, from Binance USD to Gemini Dollar and EOS.

Purchase availability of various crypto assets

Purchase availability issues may or may not apply to you. It all depends on whether you already hold crypto assets.

If not, you should select a crypto savings provider that offers accounts with market access. What does this mean? Market access stipulates that you can buy cryptocurrency via the platform and set up your lending platform with that company.

Going this route will streamline and simplify the entire crypto onboarding process. In turn, it means you can start earning yields on your crypto holdings sooner. And you nix unnecessary paperwork, transactions, etc.

Compound interest and whether it applies

Many consumers assume they'll earn compound interest on their crypto lending platform. But such is not always the case.

For this reason, you must inquire about whether a compound interest rate applies to the lending platform you're interested in applying for.

What if you find yourself in the unenviable position of having a lending platform that lacks a compound interest rate? Understand that you'll still earn interest on your initial deposit over time. But it won't be anywhere near what you'd see with a compounding interest account.

In other words, you'll have to trade or spend the interest to realize its potential fully. This situation proves incredibly frustrating for investors who prefer a hands-off approach. You owe it to yourself to ensure any account you fund comes with the advantages of compound interest.

The security of the platform

We've already touched on this issue tentatively in discussing the differences between traditional bank lending platforms and crypto lending platforms. As you know, companies have had to up their games significantly in response to threats from hackers.

Hence the new focus on insurance companies such as Lloyd's of London as security provision solutions. But the safety of a given platform shouldn't stop at insurance alone. Look for companies that provide two-factor authentication (2FA), a vital step in safeguarding your digital assets.

Because crypto companies don’t have FDIC insurance, the account provider's financial stability matters that much more. The best companies also offer cold storage solutions, providing additional layers of financial security.

Crypto lending regulation

Crypto lending is a new phenomenon and regulators in the US and around the world are struggling to keep up with it. It's important to understand the regulatory environment in your country to make sure you're not breaking any laws. You can learn more about crypto lending regulations.

While most countries have opted to either regulate or ignore crypto altogether, others have opted to take a more aggressive approach and ban its ownership and use outright. The list of countries is not large and doesn't appear to be growing, however, it's something you should be aware of and take precautions in case something like that happens in the future. We recommend checking whether crypto lending is legal in your country before opening an account.

Can you make money with crypto lending platforms?

Now we come to the question that everyone's been waiting for. Can you turn a decent profit with a lending account? The short and simple answer is yes, especially if you deposit your funds into a high-yield crypto lending platform.

That said, you'll receive the yield in the cryptocurrency of your choice. In other words, if what you're most concerned about is generating revenue in a fiat currency such as the dollar, you may not reap the results you want with a crypto lending platform.

It's hard to beat the yields many cryptocurrency exchanges and platforms offer. These fantastic yields (up to 20 percent) on USDC prove tempting even to the most skeptical of crypto users.

Remember, there's a very close parity between the US dollar and the USDC coin, making USDC an excellent asset to hold under the right circumstances. Nevertheless, sudden fluctuations in demand--particularly drops in demand for the USDC--could wipe out your initial investment and subsequent returns.

Yes, you may see fantastic returns when investing in cryptos, but nothing is guaranteed.

That said, if you already own cryptocurrency or would like to purchase some, a crypto lending platform comes with genuine value. And, yes, a lending platform can generate money if you know what you're doing.

Crypto lending platforms: The takeaway

We've covered plenty of ground in this best crypto lending platform article. We started by exploring what crypto lending platforms are and how they work. Next, we considered the pros and cons of these new lending platform options in the context of traditional lending platforms.

Despite listing some of the highest standard bank account yields, it quickly became evident how much more you stand to gain with a crypto lending platform.

After listing some of the most popular platforms in each category, we considered each system's features, providing you with a better understanding of which technology is right for you and your crypto assets when choosing the best crypto lending platform.