The 3 Best Bitcoin Lending Sites - Earn Interest on Crypto in 2020

In this article, I will share my top 3 best Bitcoin lending sites in 2020, their pros and cons, how you can choose amongst them, which lending sites to avoid, and many more.

HODL: Hold On For Dear Life. 

It means that no matter what the markets are doing, even if they are burning to the ground, you hold on. 

But who says holding on needs to be so stressful? 

These days, some of the best bitcoin lending sites reduce your HODL stress by allowing you to earn interest on Bitcoin by making bitcoin loans. 

One of the best advantages of lending your crypto is passive income. 

Studies show when you have passive income, your stress and anxiety are reduced, you spend more time with friends and family, and you enjoy greater freedom to pursue hobbies and interests you've always wanted to pursue. You will do that too after you’ve learned how to earn interest on Bitcoin.

Going forward, I’ll explain:

  • What platforms offer the best crypto interest rates.
  • The platforms on which you should NOT lend your Bitcoin.
  • What is Bitcoin lending, and why you should take advantage of the best bitcoin lending sites to earn passive income.
  • How to earn interest on Bitcoin. And not only Bitcoin -- you can earn interest on cryptocurrencies besides BTC as well.
  • The 3 Best Bitcoin Lending Sites

      Cryptos Avail. Competitive Advantage  
    Fiat and Stablecoins only Lend your USD, EUR and GBP for 8% per annum Earn on Nexo
    BTC, ETH, GUSD Highest interest rates for BTC and ETH Earn on BlockFi
    BTC, ETH, LTC, XRP, and 15+ more Large selection of coins, high interest rates for stablecoins. Earn on Celsius Network

    What makes cryptocurrency lending platforms good platforms?

    You should consider at least the following factors: 

    • Security of your funds
    • Insurance on your funds
    • Crypto interest rate

    If a bank fails, a part of their customer’s money is insured by the government; if they go down, their customers are (partly) safe. 

    But what about the Bitcoin lending sites? In this brave new decentralized world of finance, how do we stay safe and make profits? 

    Let’s compare my favorite lending platforms: Nexo, BlockFi, and Celsius Network. You’ll see how to earn interest on crypto and stay safe doing it.

    1. NEXO

    Nexo, which was also profiled by Forbes, was founded in 2017 and is backed by the founder of TechCrunch: Michael Arrington. They have nearly 200,000 customers and back payments in 45 Fiat currencies. This surely ranks them among the best bitcoin lending sites.


    • Nexo Wallets are also provided by BitGo. Thus, users who borrow or lend Bitcoin and other cryptocurrencies are insured for up to $100,000,000.00 by Lloyd’s -- a London-based bank --  in case of a hack or bankruptcy. This amount is for the total company, not per person.
    • Earn daily interest. Nexo allows lenders to have their earnings deposited each day, no waiting.
    • High flexibility: withdraw anytime. 
    • 8% interest -- some of the best crypto interest rates available. You’ll have a hard time finding better opportunities when looking to lend your bitcoin.
    • The user experience is top-notch.
    • Nexo is a company that continually innovates and builds strong partnerships.


    • Although borrowers can withdraw in 45+ fiat currencies, lenders can only deposit stable coins and fiat currencies. NEXO is currently working on offering deposits of BTC and ETH, but there is no projected idea when this will happen.


    2. BLOCKFI

    BlockFi was founded by Zac Prince and Flori Marquez. The company has raised over $20 million from firms, including Coinbase Ventures. They are young and growing, and doing so at a fast pace. As far as bitcoin lending platforms -- this is one to watch.


    • They offer 6.2% interest rate on BTC and 3.3% on ETH for lenders, compounded. This is the best crypto interest rates you’ll find for both BTC and ETH. Granted, this is only for deposits under 10 BTC and 100 ETH (see cons).
    • 4.5% interest rate for borrowers. This is a plus for lenders. Why? Because it encourages people to borrow from the platform with attractive interest rates. Think of it as liquidity. The more liquidity, the better for everyone.
    • No minimum deposit. BlockFi also opens its doors to all no matter the size of their wallet.
    • Your crypto assets are stored with Gemini. This 3rd party depository trust is a licensed custodian with insurance and has a perfect track record void of hacks or customer fund losses. In fact, Gemini works with many lending sites and other cryptocurrency websites you might use.


    • BlockFi offers digressive interest rates. The rates decrease to 2.2% and 0.2% for deposits over 10 BTC and 100 ETH (respectively). But this shouldn’t be a problem for most people.
    • Less various choices of cryptocurrencies to earn interest on -- only BTC, ETH and GUSD are available. 
    • Not FDIC insured, though Gemini -- their wallet provider -- has a strong track record for security.



    Celsius Network was founded in 2018 by Alex Mashinsky -- one of the inventors and patent holders of VOIP (voice over IP) technology. He holds numerous awards for entrepreneurship. Forbes named the Celsius Network in their Top 10 companies to watch for in 2018, saying they “are primed to disrupt traditional banking.” And the best part is that they offer some of the best crypto interest rates.


    • Deposit and HODL your BTC, ETH, and several other top 10 cryptocurrencies. 
    • No withdrawal fees, no deposit fees, no transaction fees, no early termination fees, no origination fees.
    • Celsius wallets wallet are provided by BitGo, the leader in multi-signature encryption technology. Users who are lenders and borrowers are insured for up to $100,000,000.00 by Lloyd’s -- a London-based bank --  in case of a hack or bankruptcy. This amount is for the total company, not per person.
    • No minimum deposit. Celsius opens its doors to all no matter the size of their wallet.
    • No lockups, ever. You can withdraw anytime. Got an emergency? Feeling anxious? No worries. Complete financial freedom.
    • Weekly payouts of interest earned. Don’t need to wait a month or 6 months. Get paid more often than your 9-5 job.
    • High earning interest rates. Over 8% of interest earned on deposits of USDC, TUSD and GUSD. The interest rates for deposits of ETH, BTC and other cryptocurrencies are quite competitive as well.
    • Higher interest rates (up to 10%!) when accepting to be paid interest with CEL tokens -- the Celsius cryptocurrency.


    • CEL, their ICO token, has been suspended for U.S. customers. Which means U.S. customers can’t benefit from the highest interest rates possible. However, international clients can still participate. Note: The suspension only affects the interest rates for U.S. customers -- their borrowing/lending network is still open to all.
    • Mobile App only. The user experience isn't as good as Nexo's.
  • The Best Bitcoin Lending Sites --- To Stay Away From

    Not all cryptocurrency lending platforms are created equal. It may be nice to earn interest on Bitcoin -- but not if your Bitcoins get stolen or misappropriated somehow. While we all want to earn interest on crypto, we should pay attention to the security of our assets.

    Below are a few bitcoin lending programs to avoid. This does not mean they aren't usable. It means that in my opinion, these lending platforms are not the best. When learning how to earn interest on crypto -- it’s necessary to learn to be safe too.


    This company started in August 2018 by a fellow named Sergey Nikitin. He decided to leverage PayPal to make the operation work. Lenders allow people to borrow their BTC and in return, the lenders get monthly PayPal payments at various interest levels. 

    The problem here is the XCOINS use of PayPal. Someone can borrow your BTC, claim they never got it, and either file a payment reversal with PayPal or stop using PayPal. 

    XCOINS explicitly tells lenders that lenders themselves must deal with it -- no help or support from XCOINS. This is one of the largest red flags ever seen.

    Plus, they don’t even have the best crypto interest rates available on the market.


    Salt made the news for being the first crypto lending site. The company was formed in March 2016 by Shawn Owen and quickly rose in-game through their ICO. However, their ICO promised many things that never happened -- such as loans in various U.S. states where Salt had no legal ability to provide loans.

    Since then, they've had many speed bumps. For one, they have been under investigation by the SEC for not listing their ICO as a security. This can lead to the freezing of their assets and thus, the assets of all their users. Though they are working on this, their ICO and the SEC investigation raise too many red flags. Additionally, Shawn Owens has stepped down as CEO. 

    All this compounded knock SALT off of our list of the best bitcoin lending sites. They also don’t even have the best crypto interest rates, so why go with them?

  • What is Bitcoin Lending, Exactly?

    Bitcoin loans are becoming a hot topic. Cryptocurrency lending sites and Cryptocurrency backed loans are fast becoming a new way for the investors, miners, hedge funds, and even the unbanked to leverage their finances and support their business ideas. 

    All the while, the HODLers with crypto bags can earn interest on their Bitcoin holdings and thus gain more financial freedom through passive income. All they need to do is learn how to lend bitcoin.

    Overall, the concept is simple: 

    • For borrowers: if you need a loan, then you put up a small bag of crypto as collateral. You then get fiat or a stable coin to spend as you see fit. You pay back the loan according to the agreement. But make sure to find the best crypto interest rates first.
    • For lenders: you put up X amount of crypto and earn Y amount of interest from it. Bing, bam, book. Earning interest on crypto is that simple.

    If you plan on HODLing, lending your cryptocurrency is the best way to earn interest on these cryptocurrencies while they grow in price.

    Naturally, there are risks, but we’ll dig into those.

  • Caution is the Watchword. Beware of Scams.

    The old saying rings true: if you don’t own your private keys, you don’t own your crypto. 

    This holds for crypto lending platforms. The concept of lending Bitcoin and other cryptocurrencies is outstanding and will flourish. But as we ramp up, there will be growing pains. 

    A site might have the best crypto interest rates -- but don’t let greed fool you -- do your own research!

    In January 2018, the cryptocurrency lending platform Davor Coin announced: “Lend us your money and you’ll have the chance to win $1,000,000.” People around the globe registered and lent their money to Davor Coin. A week later, the company received cease-and-desist letters from the state of Texas. People wanted to earn bitcoin interest -- but they didn’t know what was going to happen.

    Davor Coin’s lending scheme worked as long as values kept rising. But when cryptocurrency values went crashing -- bitcoin lending companies ran with the cash. Others were fined by the SEC and given cease-and-desist letters from the same SEC regulators alleging securities fraud.

    Bitconnect is another great example, as is Lendconnect. Both companies offered 'too good to be true’ returns on investment -- and they were too good to be true. These ‘opportunities’ are also called Ponzi schemes


    Bitconnect offered 1% per day compounded -- this cannot go on forever. And Lendconnect offered up to 164%! It's shocking, even more so because people fell for it.

    These examples raise awareness of the worst of lending sites. Be cautious, do research, and don't expect the moon -- and you'll be safer by far. There are plenty of legitimate bitcoin lending sites offering better interest than a bank -- without you needing to go to scam bitcoin lending sites.

  • Crypto Lending -- The Future of Passive Income

    Money makes the world go round, they say. And crypto is no different. After some research, it’s evident that some cryptocurrencies are transitioning into crypto assets -- a new class of assets. 

    The in’s and out’s of how to earn interest on Bitcoin are getting simpler and easier by the day. Once these lending platforms find their footing and their audience, we will see fantastic financial tools working to open the world of finance to the unbanked -- and we will be able to earn passive income from it. 

    Lending your crypto is becoming safe, easy, and a great way to earn passive income. But for more safety and better returns, stick to the best bitcoin lending sites offering the best crypto interest rates while being insured for your safety.

    And remember: better to start early, so that compounding interest can work for you.

    More Awesome Resources

Posted by R.R. Hauxley

R.R. Hauxley traveled around the world ... 1 year on 1 Bitcoin. 20 countries, 12 months, 1 Bitcoin. He wrote a book about it: Stolen Wallets and Where to Buy Them. Along the way he met and interviewed the sharpest, brightest minds in crypto today: Vitalik Buterin, Charlie Lee, and more. Today Rafael educates the crypto curious and delves further into the incredible world of blockchain.


I'm looking for a P2P where I can lend my crypto but I only have a small amount. I'm looking for a site that accepts funding around 0.015 BTC and could earn weekly with 10 to 15% gain. Please provide me a list where I could check. Thanks and more power
Gregory P Drury
There is not place that is legit! Many places , but are most likely a scam!
Lets contact, i have something for you!
Demaine Jordaan
Please hit me up with a positive word.
What's your take on Crypto[dot]com?
Same question here Smile
Bitcoin Traveler
I'll see if we can write an article about this site, Thanks.
Nice article but for clarification Celsius has the same insurance status as NEXO. It’s the BitGo insurance on cold Wallets .. but as Celsius doesn’t see this as completely insured so they call it "no insurance, where NEXO tells you "yes we are insured“. Also the rate on ETH for BlockFi is now 3.25% and not 6% that the article states.
It's all updated. Thanks Alan!
sean hoes
hey buddy i would like to know which wallet should i use i have found this 2 good wallets Bitroz wallet or Coinbase please need your opinion thanks
Bitcoin Traveler
Hey Sean, Choosing a wallet is a big step. You need something to keep your hard earned money safe. I'd recommend checking out our course actually. It'll answer your wallet question and, more importantly, teach how to back it up and keep everything safe.
Great article! I do have a question for you... What are your thoughts on LEDN? I have scoured the Googles and haven't found much on it compared to, say, Nexo. It seems like a good place, but being new to this, I seek the thoughts of a pro.
i watched a interview with the founders. its competitive but they are really only differentiating themselves by being able to serve the latin america markets. IMO better off with the 3 mentioned here. i would add coinlist but there still is a waiting list
Hi, helpfull article. So I guess you would regard platforms like and as examples of ‘to good to be true’ with their daily interests in the 2-5% range? Keep up the good work!
Bitcoin loans
Thanks for informative post. I am pleased sure this post has helped me save many hours of browsing other similar posts just to find what I was looking for. Just I want to say: Thank you!
What do you mean by. "For lenders: you put up X amount of crypto and earn Y amount of interest from it. Bing, bam, book. Earning interest on crypto is that simple." Put it up where - do you send it to one of the lending site's crypto wallets. What happens when you want it back, do you just make a request for it?
Bitcoin Traveler
Yup. You sign up on one of the sites, follow their instructions (usually sending to their smart contract) and their smart contract will begin calculating how much interest you'll be earning. When you want it back then you follow their withdrawal instructions and put in your withdrawal address.
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We are CryptoManiaks.  Collectively, we have over 25 years of experience in the crypto world and are all passionate about guiding people through the complex world of crypto investing.



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