Where to Get Crypto Loans

  • Crypto Loan Platforms: AAVE, Compound, Mai Finance, Benqi, and Solend offer crypto loans with varying terms and blockchains.
  • Important Factors: Consider LTV, interest rates, repayment terms, liquidation risk, and knowledge of DeFi.
  • Manage Risks: Crypto loans have benefits but come with risks. Proper understanding is crucial.
  • Explore Alternatives: If crypto loans seem risky, consider lower-risk crypto options and check out our free e-book.

But don’t forget to catch up on yesterday’s introduction t:

Crypto loans allow you to borrow funds using your digital assets as collateral, bypassing traditional credit checks and lengthy approval processes. These loans are secured on DeFi platforms like Ethereum and Avalanche, where you can use cryptocurrencies as collateral.

To obtain a crypto loan, you put up digital assets as collateral, borrow a percentage of their value in another cryptocurrency, and then repay the loan with interest to reclaim your collateral.

Unlike traditional loans, crypto loans do not require credit checks or income verification and have an automated approval process. They also offer flexible interest rates and repayment schedules.

Robert Kiyosaki

Robert Kiyosaki

Contributor, Freedom Financial News
Posted July 09, 2024

There are several platforms where you can obtain crypto loans.


This is a popular DeFi lending platform and has weathered through both the crypto bull and bear run. They are currently at the time of writing this, available for these blockchains: Ethereum, Base, Arbitrum, Avalanche, Fantom, Harmony, Optimism, Polygon, Metis, Gnosis, BNB Chain, and Scroll


Much like AAVE, Compound has a history of surviving the crypto winter and coming out on the other side. They accept a limited amount of cryptocurrencies but have a good selection of blockchains. They are currently at the time of writing this, available for these blockchains: Ethereum, Base, Arbitrum, Optimism, Polygon, and Scroll

Mai Finance

Mai Finances allows you to borrow their stablecoin MAI against the value of your crypto for 0% interest. While this is amazing, Mai’s vaults might be limited, make sure to check out what vaults are available.

They are currently at the time of writing this, available for these blockchains: Ethereum, Arbitrum, Fantom, Moonriver, Moonbeam, Avalanche, Gnosis Chain, Harmony, Optimism, BNB, Metis, Base, Linea, Polygon ZKEVM, Fraxtal


Benqi is a borrowing platform for the Avalanche Network. AVAX is typically used as collateral to borrow stablecoins such as USDC.


Solend is a borrowing platform for Solana. SOL is typically used as collateral to borrow stablecoins such as USDC and USDT.

Each platform has its own terms, interest rates, and collateral requirements, so it’s essential to compare them to find the best fit for your needs.

Important Considerations

Before taking out a crypto loan, consider the following:

Key Considerations:

  • Loan-to-Value Ratio (LTV): The ratio of the loan amount to the value of the collateral. Higher LTVs can come with higher risk and interest rates.
  • Interest Rates: Crypto loan interest rates will change and vary over time. Compare rates across different platforms.
  • Repayment Terms: Understand the repayment terms and any potential penalties for late payments or defaults/liquidations.
  • Liquidation Risk: Be aware that if the value of your collateral drops a lot, it may be liquidated to cover the loan, ending up in a loss of your digital assets.
  • DeFi Savvy: This process is not crypto beginner-friendly. You need to have a full understanding of how non-custodial wallets work and general safe practices for web and wallet use on DeFi networks.
  • Financial Knowledge: You will need to be good with managing finances and monitoring your loan to avoid liquidation.

Final Thoughts

Crypto loans offer an exciting opportunity for leveraging digital assets without selling them. Despite the enthusiasm, they come with their own unique set of risks that have to be managed prior to considering them.

Take the time to educate yourself and really understand all of the ins and outs related to crypto to safeguard your tokens. By understanding how crypto loans work you can make better financial decisions going forward as you venture further into the world of DeFi.

If crypto loans seem too risky, consider exploring lower-risk options in the crypto space. Check out Rich Dad’s  complimentary e-book on cryptocurrency for insights into safer investing strategies.

(Disclaimer: This article is not financial advice and is intended for educational purposes only. Our articles are not sponsored or affiliated with any of the businesses, tokens, teams, or protocols mentioned. It is important to conduct thorough research and only invest an amount that you are comfortable potentially losing. For personalized financial advice, consult a professional.)

Robert Kiyosaki
Contributor, Freedom Financial News