Compare · Updated September 2026

Lantern vs Ledn

Compare Ledn with Lantern’s collateral options, insured custody and support when markets move.

Switch to Lantern See the breakdown

Grace period: 72 hrs; Ledn: No grace period
Liquidation penalty: 0%; Ledn: 0.5% spread
Supported assets: 16; Ledn: 1
From APR: 10%; Ledn: 11.49%*

Key points

Why borrowers choose Lantern over Ledn.

Grace period

Three full days to top up or pay down before any liquidation begins. Markets move; we don't think you should be punished for being away from your phone.

Liquidation penalty

If we have to liquidate, we sell exactly the amount needed to bring your loan back to a safe LTV. No 2% fee. No 5% fee. No surprise line items.

Supported assets

Borrow against the coin you actually hold, without first swapping into a different collateral asset.

Consistency matters.

Lantern applies the same 65% margin call and 75% liquidation thresholds across all 16 supported assets, no variation by coin.

The breakdown

Lantern vs Ledn, criterion by criterion.

Criterion 1 of 6
Rates and APR
BTC-backed loans of $10,000–$15,000 over 12 months. Payment options are noted below.
Ledn
*$10K–$15K BTC loans use Ledn’s under-$250K tier: 11.49% APR, with no monthly payments required. Larger loans receive lower rates, down to 9.25% APR at $2M+. Jurisdiction affects the final quote.
Lantern
Lantern wins
BTC: 8% interest plus a 2% upfront fee gives a 10% APR for a 12-month loan. No loan-size pricing tiers; volume discounts are available for larger loans. Asset and state eligibility apply.
Criterion 2 of 6
Loan-to-value
How much you can borrow, and how much cushion you have before a margin call.
Ledn
Ledn matches the industry standard. Pay attention to the liquidation thresholds, not just the headline LTV.
Lantern
Borrow up to half your collateral’s value for BTC, ETH and SOL. Other supported assets have lower starting LTV limits.
Criterion 3 of 6
Supported assets
The coins you can post as collateral.
Ledn
Ledn accepts BTC.
Lantern
Lantern wins
Borrow against the coin you actually hold, without first swapping into a different collateral asset.
Criterion 4 of 6
Grace period
Time you have to top up before a liquidation event.
Ledn
Collateral can be sold automatically at 80% LTV. A margin-call alert at 70% LTV does not start a fixed grace period.
Lantern
Lantern wins
Three full days to top up or pay down before any liquidation begins. Markets move; we don't think you should be punished for being away from your phone.
Criterion 5 of 6
Liquidation penalty
What it costs you if the market moves against your position.
Ledn
Ledn applies a 0.5% trading spread to Bitcoin sold in a forced liquidation. The cost is included in the sale price.
Lantern
Lantern wins
If we have to liquidate, we sell exactly the amount needed to bring your loan back to a safe LTV. No 2% fee. No 5% fee. No surprise line items.
Criterion 6 of 6
Custody model
Who actually holds your collateral, and how.
Ledn
Collateral may be re-posted to institutional USD funding partners or Ledn-sponsored financing vehicles under restricted custody arrangements.
Lantern
BitGo cold storage with insurance. Bankruptcy-remote and segregated.

Full breakdown

Every metric, side by side

BTC-backed loans of $10,000–$15,000 over 12 months. Payment options are noted below.

Term

Rate / APR: Lantern leads:From 10% APRBTC: 8% interest plus a 2% upfront fee gives a 10% APR for a 12-month loan. No loan-size pricing tiers; volume discounts are available for larger loans. Asset and state eligibility apply.; 11.49% APR**$10K–$15K BTC loans use Ledn’s under-$250K tier: 11.49% APR, with no monthly payments required. Larger loans receive lower rates, down to 9.25% APR at $2M+. Jurisdiction affects the final quote.
Max LTV: Up to 50%; Up to 50%
Margin call threshold: 65% LTV; 70% LTV
Liquidation threshold: 75% LTV; 80% LTV
Supported assets: Lantern leads:16; 1
Support channels: Email, Phone & text, 1:1 Video; Email, Chat
1:1 video support: Yes; Not publicly listed
Grace period: Lantern leads:72 hours; No grace periodCollateral can be sold automatically at 80% LTV. A margin-call alert at 70% LTV does not start a fixed grace period.
Liquidation penalty: Lantern leads:None; 0.50% spreadLedn applies a 0.5% trading spread to Bitcoin sold in a forced liquidation. The cost is included in the sale price.
Custody model: Lantern leads:Insured cold storage; Institutional (undisclosed)
Insurance coverage: Lantern leads:Up to $250M (BitGo Trust); Not publicly disclosed
Minimum loan: From $1,000; state minimums apply; From $500; jurisdiction-dependent
Headquartered: Lantern leads:Las Vegas, NV; Grand Cayman
Regulatory status: Lantern leads:US-incorporated, Las Vegas, NV; Cayman Islands-incorporated

Public sources reviewed September 2026. Terms vary by asset, loan size, payment option and jurisdiction. Unverified details are marked; confirm your individual quote before borrowing.