3 Best Instant Crypto Loan Sites: How To Borrow Against Bitcoin & Crypto

Here is a list of the updated sites to get Instant Bitcoin loans:

It takes a couple of hours to fly thousands of miles, a click of a button to send a piece of information, and the opening of an app to see the faces of your loved ones in real time.

How fast and furious the 21^st century has become with the advent of some exhilarating inventions!

But still, there are areas of daily life that continue to exist at sloth-like speeds- things like taking out a loan from a bank…

Taking loans from a bank is a cumbersome and tiring process for borrowers. In this modern (and otherwise fast) world, it typically takes 45-60 days under ideal conditions for a loan to reach the borrower’s account.

That’s IF you’re approved for a loan- getting approved includes having a good credit rating, a necessary history of bank statements, identity verification, collateral, etc.

All of these things take a lot of time.

There are also lenders in this picture, who need returns on their investments and deposits. But, in this scenario of economic upheaval where interest rates are too low or even negative, good returns are pretty hard to come by.

But…

From now on, borrowers will get loans funded in 2 hours to 7 days.

And…

Lenders will get good returns.

Isn’t that incredible!?!?!

How Does Bitcoin Loan Work?

Bitcoin has revolutionized the capital lending markets which have stayed stagnant for decades.

Bitcoin has made everyone their own individual banks for lending and borrowing.

Let me explain…

With Bitcoin, you can borrow and lend almost instantaneously without unnecessary friction from banks and government regulations.

You can crowdsource your loans from lenders around the world powered by a Bitcoin economy by choosing an interest rate which you can actually afford.

There is no processing fee charged to the borrower or lender for this.

Through this system, lenders get profitable interest rates and borrowers can borrow cheap loans. It happens in a hassle-free manner through peer-to-peer lending which leverages Bitcoin technology to make everything fast and cheap.

This would not be possible in conventional banking which is slow and expensive.

Crypto Loans Tutorial – How to Borrow Against Crypto and Bitcoin

There are many platforms where you can take a loan against your crypto. However, if you are using a centralized platform, the most trustable name is Binance. They have been around for years and offer the most friendly, and cheapest yet reliable crypto loan platform.

Here is step by step guide to take an instant crypto loan using your Bitcoin or other crypto.

Note: Binance offers a feature that makes it perhaps the best crypto loan platform. You can use Binance earn to lend your crypto, and while you are earning on this, you can use the same as collateral to borrow USDT against it. This helps in reducing your borrowing interest rate by a significant percentage. And thats not all, you can also stake your ETH on Binance platform, and borrow against staked ETH.

Alright, now you understood why Binance is perhaps the best platform, let’s go ahead and learn how to use Binance for borrowing crypto loans.

You need a KYC’s Binance account to do so, if you already have one, then skip the step #1, else lets do so.

Step 1- Register on Binance. and complete the verification process.

Click on Earn > Loans

Click on Borrow now, select the collateral and set the amount that you wish to borrow.

ou can define the loan term, and the page will also show you the LTV, Margin call, daily interest rate, and total interest amount based on your tenure.

You can borrow a stable coin or other supported crypto on Binance at this moment:

• USDT
• FUSD
• USDC

Click on “Start borrowing now” and within seconds you will be able to use your loan amount for your trading or other usage.

Similarly, most of the other Bitcoin loan platforms work in the same fashion. Different platforms will offer different arrangements (highlighted below).

Go through their verification process:

1. Identity Verification (any government-issued ID)
2. Income Verification
3. PayPal Verification
4. Social Media Verification 
5. Personal References
6. Seller Account Verification (eBay, Amazon)

Step 2- Choose the right type of loan based on lending rates decided by the platform or as agreed with the lender directly.

Step 3- Get approval in as little as a few hours and receive your funds (from anywhere in the world)!

Best Crypto Loan Providers 2025 (Expert Verified)

1. Bitbond

This is another peer-to-peer lending platform that uses cryptocurrencies.

It is based out of Germany for small-medium enterprises (SMEs) and entrepreneurs. Registered, approved, and regulated by the German government, it advocates borrowing and lending across borders.

2. Nexo – Instant Crypto Credit Lines

Nexo offers instant crypto credit lines with no credit checks. You can instantly deposit supported crypto fund and take a loan against it. Due to high volatility, they have different LTV (Loan to value) ratio. At the time of updating this guide, this is the LTV ratio for different coins:

• Stablecoins = ~90%
• BTC/ETH = ~50%
• XRP = ~40%
• LTC = ~35%
• BNB = ~30%
• XLM = ~17%
• NEXO = ~15%

That means, if you deposit BTC worth $1000 in today’s rate, you can instantly get a loan of $500 (50%). You can withdraw these funds directly to your bank account or you can take the loan in the form of Stable coins. The custodial assets are insured for $100M and more than 200,000 users are part of the Nexo ecosystem.

Nexo also has a dividend-paying asset-backed security token with utility features called Nexo. If you are using Nexo, getting Nexo for your loan re-payment helps you save a significant amount of money.  Also, if you hold your coins on Nexo (They also have a mobile app with zero withdrawal fees), you earn interest on it.

You can get Nexo token from

• HTX
• Hotbit

If you use Nexo token as collateral or repay the loan in Nexo token, users get a 50% discount.

Conclusion: Best Bitcoin Lending Sites (Bitcoin P2P Loans)

At the time of writing this post, the above-mentioned players are involved in Bitcoin lending and borrowing

So you may be thinking… where is the opportunity for me as a Bitcoin investor or as a Bitcoin borrower?

In upcoming articles, I will talk in detail about each of these platforms, and how you as a Bitcoin holder can invest in such P2P loans to earn a profit.

So stay tuned to CoinSutra.

If you like this post, do share it with your friends on Facebook & Twitter!

For further reading:

• How to earn interest on Bitcoins – Bitcoin saving account
• CEX.io Review: Is This Platform Safe To Buy Bitcoin & Ether?
• Exploring The Top 7 Bitcoin Desktop Wallets
• Here Is How You Can Accelerate Stuck Bitcoin Transactions

3 Best Instant Crypto Loan Sites: How To Borrow Against Bitcoin & Crypto was published on CoinSutra - Bitcoin Community