Contributor, Benzinga
November 4, 2021
Overall Rating:
securely through Ledn's website

Ledn is a top financial service provider that caters to Bitcoin HODLers. Users can access loans using their Bitcoin as collateral, open a savings account or double their Bitcoin with Ledn. 

Its current business products aim to provide the best experience for clients interested in bitcoin and stablecoins only, so it may need to add more cryptocurrencies to the operation to further cement its lead and provide a more competitive advantage over similar companies.

Best For
  • Bitcoin hodlers who want to earn interest
  • Bitcoin hodlers who want access to dollar loans
  • Investors who want loans to buy more Bitcoin
  • Proof-of-Reserve attestation
  • No utility tokens
  • Cold-storage services for bitcoins
  • Limited to Bitcoin and USDC
  • Lack of long-term credibility

Ledn Ratings at a Glance

Fueled by its increasing global acceptance, most investors are now confident of cryptocurrency's long-term sustainability. Apart from reaping the benefit from day-to-day crypto trading, these investors are also open to holding their assets for a longer period and want the most productive use of these assets.

Ledn provides investors a means to earn interest on their digital assets. You can receive interest on your Bitcoin and get loans to buy more Bitcoin.

Although it’s headquartered in Canada, Ledn offers financial services to clients around the world. These financial services include a Bitcoin and USDC savings account where users can save their idle digital assets and earn as high as 12.25% APY (annual percentage yield). Other popular services offered include Bitcoin-backed loans and B2X loans.

The platform is invested in efficiency, transparency and accountability in its operation. As proof, the company completed a Proof-of-Reserves attestation through Armanino LLP — a top-tier independent accounting and business consulting firm based in the U.S. Its partnership with Genesis Capital ensures the efficiency of its saving account operation. To maximize security, Ledn stores your collateral Bitcoin offline in a vault.

To continue its commitment to securing client assets, Ledn partnered with BitGo — a major digital asset trust and security company based in the U.S. The partnership provides insured custody of client assets.

Ledn Products and Services

Ledn offers 3 major services to its global customers. These services include:

Bitcoin-Backed Loans

As an investor, when you need urgent cash, the most likely course of action is to liquidate part of your assets to keep afloat. However, exchanging cryptocurrencies to fiat currency like the U.S. dollar is a taxable event. In a bid to access funds, you pay tax and decrease your assets. 

Ledn's Bitcoin-backed loans provide a hassle-free and fast means through which you can access funds during emergencies using your Bitcoin assets as collateral. On repayment, your Bitcoin is immediately sent back to you. 

Taking a loan from Ledn doesn't create a taxable event, unlike converting Bitcoin to U.S. dollars. Additionally, all of the upsides of your Bitcoin position remain unchanged. 

Ledn charges a monthly interest of 1% for the loan, which adds up to 12% per year. It requires no monthly payments, and you can pay off your loan at your convenience without penalties. 

Ledn Savings Account

Putting your digital assets like Bitcoin and USDC in a crypto savings account makes sense. Apart from protecting your savings from local currency inflation, you also earn interest. 

With the Ledn savings accounts, users earn a monthly compounding interest of up to 12.50% APY (annual percentage yield) on Bitcoin and USDC holdings. 

The savings account requires no minimum balance and no locked-in condition to get started. Interest payments are made monthly, and you are free to withdraw at your convenience. To ensure the efficiency of the BTC and USDC savings account, Ledn has partnered with Genesis Capital as its primary borrower.

Ledn B2X loan

Ledn B2X Loan is a service that allows you to increase your Bitcoin holdings. You can hold (stake) your Bitcoin with Ledn and then access a U.S. dollar loan to buy the same amount in Bitcoin—effectively doubling the bitcoin. 

It’s like taking a standard loan, but instead of using the loan funds to buy a house or car, you can purchase more Bitcoins. Ledn B2X loan comes with 1% monthly interest and a 2% administration fee.

Ledn Pricing

Ledn doesn’t charge fees to withdraw or deposit funds, other than standard miners transactions fees for withdrawals. There are also no maintenance fees. 

The crypto lender charges 1% monthly interest to borrowers, which adds up to 12% per year. This interest rate is considerably low when compared to what is obtainable on the market.

Ledn Mobile App

The Ledn mobile app was released in January 2021. It might be too early to rate the app accurately, but a review cited the company needs to do more in terms of the app’s capability, ease of usage and overall efficiency.  

Ledn User Experience

There are overwhelmingly positive reviews across social media regarding user experience. Ledn customer care representatives were also rated positively due to their professionalism and fastness in attending to customers' needs.

Who is Good For?

Ledn is ideal for people who want to earn interest on their Bitcoin or access loans to buy more Bitcoin. Investors seeking a fiat loan can also access the money using their crypto holdings as collateral. This is a great way for investors to take out cash from their investments without realizing capital gains, as they still own their Bitcoin so long as they pay off the loan. In the case of a default, investors are required to pay capital gains on the Bitcoin used as collateral.

Ledn Security

Ledn follows strict internal security policies. The crypto lending platform does not download or store user information on local servers but rather stores user data on private networks blocked from public IPs. Neither does it sell user data to third parties. 

The Ledn website uses HTTPS and passwords, and all your sensitive information is encrypted with AES-256. The site also features 2-factor authentication for login and other specification actions.

Ledn Overall Rating

Ledn is a great option for Bitcoin hodlers to earn interest on their assets or double their holdings. You can also get access to fiat without liquidating their crypto holdings. The security is top-notch. The site uses specific login actions, passwords and 2-factor authentications to ensure user accounts are secure.  

Is Ledn a Good Platform for Digital Asset Holders?

If you're a long-term oriented investor in cryptocurrency, then Lendn is a great platform to take advantage of. The platform gives you the opportunity to accumulate more cryptocurrency passively, without needing to invest any extra funds. You can earn more than 12% annual interest on idle assets and receive loans at 1% monthly interest. Plus, interest is paid in the cryptocurrency you provide on the platform. So, if you earn interest on Bitcoin and Bitcoin's price doubles, you would have effectively made double the quoted interest rate in terms of USD.

Ledn vs Competitors

Although other minor differences may exist, Ledn differs from its competitors in 2 major ways.

  1. It’s a Bitcoin-focused company.

Unlike competitors like Nexo that support more than 10 cryptocurrencies, Ledn is a Bitcoin-only platform. Although the company also deals partly in USDC, Bitcoin investors remain the top priority. 

  1. Its Proof-of-Reserves offer unique assurances.

By having third-party firms regularly review its books, Ledn’s proof-of-reserves provide a much greater level of reassurance for its clients than its competitors. This is ideal for clients who require a higher level of trust before depositing their coins with a custodian and are extra concerned about risk management. 


Proof-of-Reserves Attestation: This is a procedure whereby a company invites an external public accountant not connected with the company to review its asset balances, including its lending and custodial balances. The reason is to ensure that the company is appropriately accounting for client assets.

Hodler: Hodlers are crypto investors that hold their position irrespective of the price. The term was first used in 2013 in a Bitcoin chat forum by an investor who despite watching Bitcoin's price fall, sharply decided not to sell. Instead, he wrote a post titled, “I am HODLing” instead of "Holding."

Utility Token: Also referred to as app coins or users coins, a utility token is a blockchain-based digital asset that grants you access to products or services in the blockchain ecosystem. For clarity, a utility token grants you access to a system similar to the way tickets grants you access to concerts or sporting events. The vast majority of tokens issued by most crypto-based startups during Initial Coin Offerings (ICOs) is utility token. The idea is to raise public interest in the product and services and applications in the blockchain ecosystems.

Frequently Asked Questions


Can I withdraw my Bitcoin at any time?


Yes, Ledn has no lock-in conditions. You can save and withdraw your Bitcoin at any time. Withdrawals are usually processed within a single workday.


How does Ledn generate the interest that it pays clients in the BTC savings accounts?


Ledn works with an exclusive list of established and well-capitalized institutional partners to lend bitcoin and generate the interest for its savings accounts. Neither Ledn nor its institutional partners have ever experienced a loss as a result of their lending activities.

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