Lantern vs Ledn
Compare Ledn with Lantern’s collateral options, insured custody and support when markets move.
Crypto-backed loans for the long haul.
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.
Bitcoin-only loans with size-based pricing and restricted collateral re-posting.
*$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.
Why borrowers choose Lantern over Ledn.
- 13 collateral assets vs BTC onlyLedn is a Bitcoin-only lender. Lantern supports BTC plus XRP, ETH, SOL, LTC, DOGE, and more.
- Collateral stays in insured cold storageLantern never lends, trades, or rehypothecates collateral, and BitGo custody is included without a premium.
- US-based and US-regulatedLedn is Cayman-incorporated. Lantern is a Delaware-incorporated US company with a US support team.
Rates and APR
BTC-backed loans of $10,000–$15,000 over 12 months. Payment options are noted below.
Lantern: 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.
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.
Rates reflect the loan size and payment option noted above. Compare quotes for the same collateral, term and eligibility.
Loan-to-value
How much you can borrow, and how much cushion you have before a margin call.
Borrow up to half your collateral’s value for BTC, ETH and SOL. Other supported assets have lower starting LTV limits.
Ledn matches the industry standard. Pay attention to the liquidation thresholds, not just the headline LTV.
Consistency matters. Lantern applies the same 65% margin call and 75% liquidation thresholds across all 13 supported assets, no variation by coin.
Supported assets
The coins you can post as collateral.
Borrow against the coin you actually hold, without first swapping into a different collateral asset.
Ledn accepts BTC.
Customer support
Published channels for reaching a support team.
Call or text a real person on our customer support team.
Grace period
Time you have to top up before a liquidation event.
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.
Collateral can be sold automatically at 80% LTV. A margin-call alert at 70% LTV does not start a fixed grace period.
Liquidation penalty
What it costs you if the market moves against your position.
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.
Ledn applies a 0.5% trading spread to Bitcoin sold in a forced liquidation. The cost is included in the sale price.
Custody model
Who actually holds your collateral, and how.
Collateral may be re-posted to institutional USD funding partners or Ledn-sponsored financing vehicles under restricted custody arrangements.
Every metric, side by side
Your pick | Competitor | |
|---|---|---|
| Rate / APR | From 10% APR 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. | 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 | 13 | 1 |
| Support channels | Email, Phone & text, 1:1 Video | Email, Chat |
| 1:1 video support | Yes | Not publicly listed |
| Grace period | 72 hours | No grace period Collateral can be sold automatically at 80% LTV. A margin-call alert at 70% LTV does not start a fixed grace period. |
| Liquidation penalty | None | 0.50% spread Ledn applies a 0.5% trading spread to Bitcoin sold in a forced liquidation. The cost is included in the sale price. |
| Custody model | Insured cold storage | Institutional (undisclosed) |
| Insurance coverage | Up to $250M (BitGo Trust) | Not publicly disclosed |
| Minimum loan | From $1,000; state minimums apply | From $500; jurisdiction-dependent |
| Headquartered | Las Vegas, NV | Grand Cayman |
| Regulatory status | 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.
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Lantern vs everyone else
BTC, ETH and SOL loans via Anchorage; separate XRP terms.
Variable-rate USDC loans using Morpho smart contracts on Base.
Automatic liquidation with no fixed grace period; collateral ownership transfers under its terms.
BTC, ETH and SOL loans; rates and margin-call rules depend on starting LTV.
US crypto credit lines; pricing depends on NEXO token holdings.
Bitcoin-only loans; pricing varies by loan size and payment option.