Crypto Lending Platforms in US

In our last posts, we spoke about How Crypto Backed loans are different from peer-to-peer loans, what are the different types of crypto loans, advantages of crypto-backed loans and Risks associated with crypto lending. Continuing our discussion further on Everything you need to know about Crypto-backed loans, today we would know about different crypto lending platforms in US.

Most of the crypto lending platforms work in a similar fashion where they connect borrowers and lenders. The platforms are backed by assets that include gold or even real estate. Let’s take a closer look onto these crypto loans platforms –

Crypto Lending in US

Credible Friends

As the name suggests, Credible Friends are into Trust Based peer-to-peer lending, that is built on Bitcoin and enables anyone to quickly extend lines of credit to all of their trusted friends.

The working model is quite simple; the user needs to create an account/wallet on his phone [available for iOS and Android] and deposit the bitcoins. Create a contact list by inviting your friend’s through social media, and most importantly whom you can trust. Release the credit to your friend in need based on your risk assessment; the friend needs to pay you an interest amount decided mutually. Once the digital currency is transferred, your friend could use it for shopping or emergency. And once the friend settles the final amount, your money would be returned to you leading to deal closure.


BlockFi is another crypto lending platform that aims to innovate the crypto lending space by infusing new lending and debt products for crypto asset owners.

The working model is quite straightforward, where the borrower needs to submit a loan request, within 24 hrs the request is either accepted/rejected. Once the request is approved sign the loan agreement, deposit your collateral to BlockFi’s secured storage wallet, and loan amount would be released. One of the significant advantages of BlockFi business model is that you get interest in dollars/cryptocurrencies, and borrowers get dollars without even selling their cryptocurrency.

Unchained Capital

Unchained capital that offers Personal, Real Estate or Business loans supports Bitcoin and Ether currency only. The model is quite similar to BlockFi where you need to create your account/loan request, once it is approved to submit the collateral and loan amount would be released. However, Unchained Capital works with international borrowers as well, with a condition of the lending amount be $100 K.

SALT Lending

SALT Lending which was recently in the news to be acquired by a rival Nexo after the CEO departure is another crypto lending firm from the US. SALT an abbreviation of Secured Automated Lending Platform allows users to leverage their blockchain assets to secure cash loans. The beauty of the firm is that without selling your crypto assets, you can get a cash amount. They have recently expanded their operations into 20 new US states increasing their reach to 35 states. The company has also introduced a new program, i.e., Proof of Access (POA) program that offers members to modify their loan conditions by using the company’s SALT Token in


Poloniex, one of the top crypto-exchange also offers crypto-lending solutions to its customer base. The advantage of using their platform is a support to 12 cryptocurrencies for lending. However, they do not provide fiat lending.

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