Ledn Loans

Ledn Loans

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Verdict: Despite being a relatively new arrival, Ledn has come leaps and bounds; fast becoming one of the biggest BTC focused loan/saving platforms. The collateral currency is limited to only Bitcoin, and payout currencies limited to USD and USDC, which might be a drawback for some. However, we do like the simplicity of the Ledn loan platform. Ledn have never had any security breaches and refuse to sell customer data to third parties. We also like that the company is registered and regulated in Canada.

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7.5/10 (Expert Score)
Product is rated as #4 in category Loans
Ledn is a Canadian based incorporation that operates under the Federal Laws of Canada. The Ledn loan product allows you to take out collateralized loans against your Bitcoin with a 50% loan to value (LTV) ratio which can be paid out in just 24 hours in USD or USDC. When you take a loan, you will be charged 1% monthly interest (12% APR) which is paid in one lump sum when you pay back your loan in full. The initial loan term is 12 months, which can be extended if required. Loans can also be paid back early, without penalty so essentially, you can borrow for as long or as short as you like.
Supported Currencies
2
Interest Rates
7.5
Customer Support
8
Company Reputation
7.5
Overall Experience
8
PROS:
  • Interest is paid as 1% monthly, which works out as 12% APR on BTC/USDC.
  • A 12-month loan term that can be extended, or paid back early without penalty.
  • Loan payouts are paid out within 24 hours
  • Cold storage with proof-of-reserve
  • Savings accounts also available
  • Currently no security breaches
  • Secure - KYC & 2FA
CONS:
  • Relatively new company
  • Only supports two assets
  • Can only use BTC as collateral

Specification: Ledn Loans

Loan Information
Accepted Collateral
Supported Loan currencies ,
Staking
Staking Percentage N/A
Loan to Value Ratio (LTV) 50%
Margin Call LTV 79%
Maximim loan amount None
Minimum loan amount $500
Loan Term 12 months (pay back at any time)
Company & Availability
Headquarters Toronto
Year of origin 2018
Number of users 125,000
Insurance Coverage BitGo, Per Wallet
Previously hacked No
Eligible regions
Excluded regions Algeria, Bolivia, Ecuador, Egypt, Iran, Morocco, Nepal
KYC
Credit Check No
Crypto Loan Rates
Bitcoin APR 1%
USDC APR 1%
Fiat Loan Rates
USD APR 1%
Asset protection & Insurance
Audited Armanino LLP
Cold Storage Yes
Company Backing Genesis
FDIC insurance No
Insured by BitGo
Specification
Exchange type Centralised

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