Ledn vs SALT Lending

Ledn4.1/5

VS

SALT Lending3.7/5

Feature	LednVisit	SALT LendingVisit
Ratings
Our score	4.1/5	3.7/5
User rating	No reviews yet	No reviews yet
Rates	3.5	4.0
Security	4.5	3.5
Transparency	4.5	3.5
Flexibility	3.5	4.0
Support	4.0	3.5
Specs
KYC required	Yes	Yes
Products	Crypto-backed loans	Crypto-backed loans
Highest advertised APY	Not disclosed	10%
Max loan-to-value	50%	70%
Loan APR from	9.25%	7.49%
Supported assets	5	Not disclosed
Available in	Global, Canada, United States, Latin America, Europe (EEA), Asia-Pacific, Middle East, Africa	United States
Proof of reserves	Yes	Not disclosed
Insurance	Not disclosed	Cyber insurance covering breaches, theft, and extortion
Licenses & registrations	Cayman Islands VASP registration (CIMA)	NMLS 1711910
Flexible (withdraw any time)	Yes	Not disclosed
Fixed terms	Yes	Yes
Company
Founded	2018	2016
Headquarters	Canada	United States
Investors	Tether	Not disclosed
Strengths and weaknesses
Pros	100% BTC collateral in custody as of September 1, 2026 Bitcoin-backed APRs advertised from 9.25% Early repayment has no penalty on standard loans Monthly reports disclose assets, liabilities and loan metrics	No credit checks or income verification required to secure loans Zero origination fees and zero prepayment penalties Loans disburse within 24 to 48 business hours Licensed US lender under NMLS ID 1711910 across 47 states
Cons	Centralized counterparty and insolvency exposure remains Bitcoin price declines can trigger top-ups or liquidation Product availability varies by jurisdiction Loan terms are fixed at 12 months	Requires custodial transfer of collateral, introducing counterparty risk Mandatory KYC identity verification for all accounts Earn program yields capped to accredited and institutional investors Minimum loan amounts can reach up to $10,000 depending on the state
Best for	Bitcoin holders borrowing cash, Long-term BTC collateral users, Borrowers needing USD liquidity	US Bitcoin holders avoiding tax sales, Borrowers seeking non-credit-based cash, Accredited investors seeking fixed yields

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