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Rating by Finanso®

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About lender

Ledn is a digital asset lender enabling clients to have more options in terms of getting funds without selling their digital assets, held in bitcoin. The loan platform's services provide its customers with a number of financial products, such as B2X, saving and trade options and borrowing, including bitcoin-backed dollar loans, via Ledn savings account. In case an individual is looking forward to taking their credit usage into the field of crypto-economy – they should address to Ledn. Based out in Toronto (Ontario, Canada), the company offers bitcoin-backed loans and similar technologies available through its online portal.

Ledn is a professional digital asset lending company and is best suited for crypto investors who want to access the value of their digital assets. In other words, people save in Bitcoins, and can have access to their funds without selling anything, i.e., triggering capital gains tax. Ledn savings account provides its clients with certain tools to earn interest on their BTC and USDC holdings.

Ledn’s interest rates start slightly higher than what’s available with other providers, and the customer must turn over ownership of his crypto collateral, which is typical for these types of loans. Ledn client's bitcoin holdings will be used as collateral and held in “cold storage” until the loan is paid off.

Ledn's security has certain features. The lender protects its digital asset customers' data via the following means:

  • Encryption

All the data of Ledn clients, stored or transferred within the Ledn ecosystem, is encrypted where possible. The company’s encryption methods extend from application security to communication and facilitating transactions.

  • Information controls

The company believes that Ledn clients' data should be private and safely stored. The company only uses sensitive client data to facilitate transactions and verify identity. This procedure is known as KYC, or know your customer.

  • Two Factor Authentication

Two Factor Authentication adds another layer of security, and that is why Ledn encourages all clients to activate token-based authentication on their accounts to protect their assets. Token authentication is currently required for the B2X product but will become a requirement for using the majority of Ledn products.

Pros and cons


  • Ledn is a digital asset lending, providing its customers with a possibility to access funding in other ways, namely, without selling their Bitcoin assets.

  • Loans as low as $500.

  • $0 prepayment penalty.

  • 24-hour turnaround funding.

  • Loans are paid out in USD.

  • Strict information controls on the platform.

  • Partners with custodian BitGo.

  • Offers proof of reserves, enabling clients to have a safer experience.

  • The company offers a wide range of financial products for clients with digital assets.

  • International loans are approved (but depending on the country).

  • Tax efficiency (exchanging bitcoin holdings for dollars is a taxable event while taking a loan with Ledn is not; all interest expenses for the loan may be tax-deductible).

  • Proof-of-reserves (the company is the first digital asset lending company in the crypto industry to complete a Proof-of-Reserves by a top-25 public accounting firm, Armanino LLP.).

  • Interest rates clearly declared.


  • Ledn’s interest rates start slightly higher than what’s available with some other providers (9.90% APR).

  • Only accepts existing holdings (BTC) as collateral.

  • Users complain about unresponsive support.

  • BitGo insurance doesn’t cover Ledn's potential loss of digital assets (bankruptcy risk).

Bitcoin-backed loans are a fast and convenient way to access dollars funding services without having to sell the user’s bitcoin. There are many advantages to using a dollar loan instead of selling to receive dollars. The customers get to keep all of the upsides of their bitcoin position. The customers do not create a taxable event, and most importantly, they get to keep their bitcoin. Once the loan is repaid, the bitcoin is sent back to the customer. Still, the interest rates are slightly higher these of the similar products, and your existing holdings are used as collateral.

Loan conditions

Ledn requires the client, willing to access its services, to perform a formal proof of his creditability (KYC). During the application process, the potential borrower will need to provide the company with the following documentation:

  • Сopy of the government-issued identification document.

  • Сopy of the proof-of-address document.

  • Image of the client holding his government-issued ID.

  • Their bank account details for funding.

The interest rate for BTC up to 5.25% APY, for USDC 7.50% APY. Annual interest 7.90% a, 9.90% APR.

Methods of loan funding

Ledn Inc. advertises loan funding in as little as 24 hours after approval, which is typical for crypto lenders. Within B2X, where you borrow funds from Ledn to double your existing holdings, transactions sent to your Bitcoin Savings Account will be reflected after 1 confirmation on the Bitcoin blockchain. This typically takes about 10 minutes. Dollars are transferred directly to your bank account.


What is Ledn?

Ledn is a loan platform based in Toronto, Canada, providing its customers who have Bitcoin assets with a wide range of services and financial products, including bitcoin-backed dollar funding, saving, trading, and similar technologies. All the processing is being carried out online in an easy, quick, and trusted way to make it convenient for the client to access dollars. Ledn's financial tools possess certain features: enhanced security, tough verification procedures, etc. With Ledn, people save in other ways: they do not pay taxes for exchanging bitcoins for dollars.

Who owns Ledn?

There is no specific information regarding this question on the website of the company. According to LinkedIn, Adam Reeds is its Co-Founder and CEO.

How do you qualify for Ledn?

In order to qualify for a loan with Ledn, you must meet the following requirements: 

  • You are of legal age,

  • You have never been previously suspended or removed from using Ledn.

How much can you borrow from Ledn?

Ledn's loans start at $500, and while it doesn’t provide information on the maximum loan amount, it depends on the amount of Bitcoin holdings the customer can pledge. Ledn’s loan to value ratio (LTV) is 50% — which means that the customer needs to pledge at least $2,000 in Bitcoin as collateral to get a $1,000 loan. Unlike some other crypto lenders, Ledn doesn’t offer lower interest rates to borrowers who pledge more collateral than required to reach a 50% LTV. But the more collateral the customer pledges, the lower his risk is of a margin call or liquidation. B2X users can receive on their Ledn savings account the amount equaling their BTC assets.

Is it a legitimate company?

The company corresponds to all the requirements for such kinds of financial institutions, and it seems to be fully legitimate. It is legit and regulated under the Federal Laws of Canada. Through its information controls, it offers a safer experience with one's Bitcoin or USDC holdings.

Company documents

Privacy Policy
Rates & Terms
Terms of service

Bitcoin-backed loans are a fast and convenient way to access dollars without having to sell your bitcoin. There are many advantages to using a dollar loan instead of selling to receive dollars. You get to keep all of the upside of your bitcoin position. You do not create a taxable event, and most importantly, you get to keep your bitcoin. Once the loan is repaid, your bitcoin is sent back to you.

© Ledn

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What to pay attention to when applying for a loan from Ledn

  1. The company must have a license if it runs business in Alberta, British Columbia, Manitoba, Ontario and Quebec.
  2. You can check the availability of the relevant license (copy) at the branch of the lending company.
  3. Membership in a self-regulatory organization (SRO) is an additional guarantee of the reliability of the lending company. This information can also be checked at the company's branch or on its official website.
  4. Availability of lending policies.
  5. The procedure for applying for a loan.
  6. The procedure for concluding the loan agreement and receiving the payment schedule.
  7. Other conditions for granting loans.

We recommend

  1. To check out the interest rates and frequency. 
  2. Check the availability of individual terms in the loan agreement (principal amount, term, date of advance, etc.).
  3. Check whether the loan agreement contains information about the total cost of borrowing.
  4. Take time to think – you can change your mind before agreeing or signing a loan agreement.
  5. Speed of loan processing.
  6. Accessibility – alternative lenders often operate where there are no bank branches.
  7. For the borrower - high interest on the loan.
  8. For an investor, the safety of funds is not guaranteed by the state.

What distinguishes Ledn from banks:

  1. Simplicity - loan processing is less formalized than in a bank.
  2. Fast loan processing.
  3. Accessibility.
  4. For the borrower - high interest on the loan.
  5. For an investor, the safety of funds is not guaranteed by the state.
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