Top 3 Crypto Lending Website In 2022

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Crypto is currently the most prominent buzzword in the financial and technological market. With several misconceptions that it bears the same similarities and limitations to stocks, there is much more to the blockchain and the world of Cryptocurrency than you know. 

Since its inception in 2018 by its mysterious creator Satoshi Nakamoto, cryptocurrencies have come a long way in finance, giving people financial freedom across the world.

There have been several adoptions to Cryptocurrency in the past years, with the emergence of different altcoins, technologies, and projects coming into the financial system, with traders looking into different means to earn profits on their digital assets in the crypto world.

One of the many ways crypto holders can earn profits on their crypto assets is in the form of lending and borrowing on crypto lending platforms. Crypto asset holders can earn interest on their crypto assets by borrowing or lending them out on crypto lending platform.

How a Crypto Lending Platform Works

These are the fundamental steps of the processes involved when investing with a lending platform:

  • A loan request is made to the platform by the borrower (amount, specific duration)
  • The lending platform evaluates the loan (in terms of security)
  • The borrower puts a certain number of his Cryptocurrency as collateral once the loan gains approval (the crypto lending platform usually request that 50% of the loan amount be available as collateral)
  • The crypto assets deposited into the wallets on the lending platform fulfill the loan.
  • Interest is received weekly or monthly by Investors, based on the asset amount.
  • The borrower can unblock his collateral once he repays the loan. 

Comparing Platforms

Every crypto lending platform is unique to itself and the services they offer:

  • Some crypto lending platforms do not require a minimum amount (e.g., Celsius, BlockFi)
  • Your crypto asset will determine the lending and borrowing platform you use (e.g., Binance for Bitcoin)
  • Some lending and borrowing platforms provide high returns on crypto, others on stable coins.
  • Some platforms offer an unlimited crypto lending duration (e.g., YouHodler, Celsius)
  • Some crypto lending platforms offer a bonus when you sign up ( Celsius is the biggest at $50)

Best Crypto Lending Platforms

After a detailed review of the essentials of crypto lending platforms, the best crypto lending platform is something you’ll be eager to find. Here are a few of the best crypto lending platforms that are gaining popularity today 

1. Celsius Rating- 9/10

Founded in 2017 and Run by CEO Alex Mashinsky, Celsius is a US-based crypto lending platform gaining popularity as one of the most popular crypto lending platforms. 

Primarily a Decentralized finance platform, the Celsius network is a leading crypto lending platform, boasting about 485,000 users and over $17B in assets.

Operating on the Ethereum Blockchain, with multiple utilities, Celsius offers better coin loan rates, better rates for dollar loans, better-earning rate, with a price of $3.34 and a $4,003,011 24 hour trading volume.

The Celsius network, using Blockchain technology, aims to revolutionize the crypto world by replacing traditional financial systems with one that has the community’s best interests at heart.

Celsius is a crypto lending platform that doesn’t require a minimum investment amount; however, depositing a few thousand dollars worth of crypto is highly recommended to see significant returns.

There is no maximum loan to take out (your collateral determines the maximum loan), but you need to deposit a proportional number of crypto to get the loan.

However, starting with a smaller amount is advisable to gain experience and trust with the crypto lending platform.

Celsius interest rates vary according to the Cryptocurrency you’re lending. You can expect to earn a Celsius interest rate on an annual percentage yield (APY) of up to 17%, paid every week when you lend crypto on the Celsius network.

You can also expect to earn Interest rates between 3.5% and 6% APY on your Ethereum and 3.51% and 6.2% APY on your Bitcoin.

Celsius fits beginners with minimal Interest in crypto trading and anyone interested in making passive income by earning Interest rates on their crypto deposits through its lending services.

It is also a crypto app that allows the purchase of 10 different cryptos, and lenders or borrowers can also convert these cryptocurrencies into more than 30 different e-currencies. 

Users can convert their digital assets to CEL, Celsius native currency, although this is a drawback for many users familiar with cryptocurrencies like Bitcoin, Ethereum, or Litecoin.

Excellent rates are assured no matter the crypto you are lending on the platform. 

Celsius supports all major tokens, including Bitcoin, Ethereum, and stable coins. Additionally, if you choose to earn in CEL tokens exclusive to the Celsius network, you can earn 25% more rewards.

The LTV range is between 25% and 50% when you lend money to borrowers.

As an “investor,” you can utilize the Celsius network app to lend your crypto to borrowers. Downloading and verification take about 10 minutes, making it an excellent alternative to Nexo. 

Note that lenders and borrowers will need a copy of their ID card and some personal information for complete access to all the features on the app.

You can top-up your account from any Waller of crypto exchange or buy Cryptocurrency through the app. 

Another advantage to Celsius is that they do not charge any fees for their services. Neither transfer fees, withdrawal fees, transaction fees, early termination fees, or origination fees.

Using the Celsius wallet is completely free. 

The Celsius website has a calculator to view how much you can earn based on your selected duration and crypto. There is also no need to sell your crypto if you need emergency funding as you can stake it as collateral and obtain funds with Interest rates as low as 1% annual percentage rate (APR).

Celsius provides financial services not accessible through conventional financial institutions. For example, 

The Celsius financial report is the only publicly available report amongst all bitcoin lending platforms.


  • Free withdrawal
  • Extensive DeFi services
  • Co-founded by a seasoned entrepreneur
  • The app is straightforward
  • Up to 17% APR on stablecoins
  • Up to 6.35% on crypto
  • No fees for loan origination, transfers, or minimum balance
  • Available in over 150 countries for trade via iOS, Android apps, or desktop
  • CelPay is an easy to use funds transfer system


  • Not regulated
  • Highly Centralized control
  • Limited trading via third-party vendors- does not have a crypto exchange.
  • No support
  • Questionable business practices.
  • Us residents have no access to the CEL token.

Loan Terms

  • 6,12,18,24,30 or 36 months
  • Borrowers can cancel the loan at any time after six months of maturity without any fees
  • minimum term interest rate payment of six months.

Supported Cryptos

  • Bitcoin (BTC)
  • Binance USD (BUSD)
  • Ethereum (ETH)
  • Bitcoin Cash (BCH)
  • Stellar Lumens (XLM)
  • Dai Coin (DAI)
  • USD (USDT)
  • Tether (USDT)

Security is essential to the Celsius team. Six security certifications include 365/24/7 network monitoring, ISO/IEC, cyber intelligence, incident response experts, and cryptographic innovations. Multi-party computation, a unique technology, provided asset protection top-tier security.

Although Celsius is seemingly the fastest growing crypto lending platform, note that there is no dedicated support, potentially harming your experience with the platform.

Celsius is one of the top crypto lending platforms to consider for serious crypto investors.

2. Nexo- Rating 8/10

Nexo is one of the best cryptocurrency lending platforms in circulation today. Founded in 2018, Nexo grants an Interest account for you to deposit currencies or cryptocurrencies. 

One of the top bitcoin lending platforms, Nexo, was founded by the team behind Credissimo- a large European lender; however, they are both separate.

Nexo is a respected name in decentralized finance, and it’s one of the best crypto lending platforms.

Through crypto lending and borrowing on this platform, crypto owners can earn Interest in their fiat or crypto assets deposited in an interest account.

Although it claims to be regulated, in truth, according to the Estonian financial institution, neither Nexo nor Credissimo own lending licenses in Estonia, which is one of the prominent locations where Nexo is Registered.

 With Nexo, you can earn passive income from your idle assets without risk. 

Simply top up your wallet, and you can earn Nexo Interest rates up to 17% annual percentage rate. 

Nexo supports major tokens with more support underway. However, it does not support wrapped coins.

Nexo is accessible across mobile platforms ( iOS and Android) and the web.

In addition to lending over 40+ fiat currencies, the Nexo lending platform support over 175 market trading pairs such as

  • ETH/ DAI
  • ADA/ ETH
  • LTC/ ETH
  • XLM/ BTC
  • DAI/ BTC 

Interest Rates

  • Cryptocurrency: 4%-5%
  • Fiat currency: 4%-6%
  • Nexo: 7%
  • Stable coins: 8%-10% (+2% on all, when paid in Nexo)

Terms for earning interest rates on fixed loans are between 1 and 3 months. In comparison, flexible loans have no lock-in.

Interest rates on borrowing range between 13.9% and 6.9% depending on the loyalty tier.

It is necessary to own a Nexo account before you can be eligible for loans, and then You only need to deposit funds into the Nexo account. Basic and Advanced verification is required to obtain loans in fiat currency.

Multiple loans are possible depending on the credit line amount 

The minimum loan is $5000 in stable coins and $500 in fiat currencies.

Nexo loans mature in 12 months.

The maximum loan amount is equivalent to $2,000,00p stable coins.

You can withdraw assets at any time. Depending on the loyalty tier, some withdrawals are free; the network fee becomes applicable after that.

The threshold value is 83.3%, the lending platform will liquidate collateral if it goes above this.

Nexo doesn’t require KYC. 


  • high-interest
  • Lending and borrowing features
  • Several supported coins
  • High yielding Interest account


  • Support is unable to answer due diligence questions
  • $1,000 is the minimum investment amount.
  • Nexo’s website has questionable claims.
  • Individuals in management have connections to a previously unlawful platform.
  • No banking license.

3. BlockFi

BlockFi is a crypto lending platform run by BlockFi lending LLC headquartered in New York.

BlockFi is one of the best crypto lending platforms that allow you to open a crypto interest account to deposit cryptocurrencies like Bitcoin, Ethereum, and other altcoins, earning Interest rates up to 8.6% APY. 

BlockFi enables crypto holders to deposit funds into their Interest account. Gemini. Gemini, an institutional custodian authorized by the New York state financial services department, hosts this act.

Gemini extends Insurance on their hot wallets covering up to $200M.

This crypto lending platform provides financial services and various loan amounts that make the platform easier to use.

One appealing feature of BlockFi is the Interest rate payment flex, which gives users a choice to select the currency of the interest payments without buying more crypto assets.

Automated clearing house (ACH) is something you might have heard before. Most conventional bank transactions use ACH payments. BlockFi asks for permission before processing a payment made from your account when applying for an ACH transfer. 

The introduction of instant bank transfer makes crypto lending and borrowing fast and easy.

BlockFi investors will be able to promptly buy and trade their choice cryptocurrencies using money from their bank account.

You can take advantage of market opportunities as they appear without delay by buying crypto directly through a linked bank account with the establishment of instant back transfers.

BlockFi users earn Interest with Bitcoin lending rate of 4.5% APY and 9.5% on stablecoins. The BlockFi interest account( BIA) is amongst the most competitive Interest accounts in the cryptocurrency market. 

Valued at over $3B, it has captured audiences’ attention in the crypto and traditional finance world alike.

Accrued Interest is paid monthly at the end of the month. 

Your Interest compounds monthly, the day after you find your crypto account, you receive your first interest payment, the next month’s Interest will accrue on your initial capital in addition to the Interest earned.

BlockFi is more than a borrowing platform. It is suited to investors of all skill levels. 

As a beginner, service managers will provide complete information about crypto to you. On the other hand, you can get support for your queries if you’re an expert in the crypto world.

Compared to the Celsius network, BlockFi is a borrowing platform that lends only to borrowers in the US. BlockFi will not allow you to borrow money if you’re not a US citizen.

BlockFi doesn’t support fiat currencies, and this can be slightly limiting. Instead, BlockFi turns your bank or wire transfer into stablecoin GUSD.


BlockFi touts itself as a “fee-free” platform. Fees depend on the transaction complexity. 

BlockFi is a commission-free crypto lending platform. There is no transaction fee added to trading costs, as you don’t have to pay for trading on the crypto lending platforms.

BlockFi has withdrawal fees, with BTC and stablecoins users getting one free withdrawal per month.


  • No monthly fees
  • Low fees compared to other crypto lending platforms.
  • No minimum withdrawal
  • Earn Interest and trade with the BlockFi app
  • Insured wallet
  • Regulated
  • No commission fee
  • BlockFi is Available worldwide- except in sanctioned countries.
  • Instant trades.


  • Requires crypto knowledge
  • Other DeFi Platforms that do not use KYC cannot access BlockFi services
  • Only accepts crypto tokens: Bitcoin, Ethereum, PAX Gold, and Litecoin.
  • No joint or custodial account
  • Loan and APY rate volatility
  • Savings are not protected
  • Interest accounts have limited free withdrawal 

BlockFi is a beginner-friendly crypto lending platform, although it requires some knowledge of crypto, with the mobile apps and website easy to navigate for first-time investors. 

BlockFi also suggests advice on paying crypto taxes or understanding term loans instead of resources geared towards crypto learning. 

The interest rate in BlockFi allows users to earn with their Interest accounts up to 8.6% APR on BTC, ETH, USDC, GUSD, and PAX.


Crypto lending is something you should consider if you’re in the crypto world. As an investor, you should conduct your own research before choosing the best crypto lending platform with several lending platforms in circulation, and traders should do this with care.

The interest rate, deposit and withdrawal fees, and platform risks associated with each lending platform are some things investors should thoroughly consider before picking a crypto lending platform that best suits their needs.