Home > Crypto Lending

Crypto Lending Platforms Compared (2021)

A breakdown of the best crypto lending plaforms. Put your crypto to work by lending it out to a trusted cryptocurrency institution to start earning interest on your assets.

David Cohen

Editor at Buy Bitcoin Finder

How to earn interest on Crypto

The easiest way to earn interest on cryptocurrencies like Bitcoin, Ethereum and USDC is by signing up with a secure and trusted lending platform in the United States.

As an example, you can deposit USDC (US Dollar stablecoin) into your Coinbase Savings Account and earn 4% annual interest (APY).

What is Crypto Lending?

Many people are already familiar of lending and have heard of situations where people take loans when they're short on cash.

In this situation, either a bank or a lending company will give that individual some money, which at some point would need to be repaid with some interest. That interest accrued by the lending institution or bank, is generally how they would make their revenue.

With crypto, there are now platforms that let you be the bank or lending institution and enable you to give out a loan to another person using your crypto. Just like those companies, you can now earn interest on your crypto too.

This solution is generally referred to as crypto lending.

Best Crypto Lending Platforms

The five best crypto lending platforms across centralized and decentralized finance are

  1. Coinbase Lending (overall best and easiest)
  2. BlockFi (high Bitcoin interest rates)
  3. AAVE (best decentralized money market)
  4. Gemini
  5. Compound

Crypto Lending Platform Reviews

The cards below are high-level reviews of the best ways to earn interest on your crypto through centralized and decentralized financial applications.


Sign up

Coinbase Lending

Coinbase is one of the longest running and most trusted cryptocurrency exchanges, custodians and borrowing and lending institution. They are the most convenient option to buy, lend and earn interest on cryptocurrency thanks to their easy to use Coinbase Wallet.

Using the Coinbase Wallet - customers can easily and safely deposit crypto onto DeFi apps like Compound and dYdX to start earning interest rates of up to 6% APY.

Available Assets

USDC, USDT, wBTC, BTC, COMP + 50 more

Interest Rates

1-6% APY

Usability

Privacy

Organization Type

Centralized

Reputation

Fees

Sign up

BlockFi

BlockFi is the leading institutional crypto ending platform that are headquartered in New York, USA. They are backed backed by world-class investors including Coinbase Ventures, Galaxy Digital, Arrington Capital, Morgan Creek Digital and many more - highlighting the trust that is given to the organisation.

Their platform offers users to lend out their cryptocurrency at up to 8.6% APY with no hidden fees, minimum balances and fast onboarding times

Available Assets

Bitcoin, Ethereum, USDC, USDT, PAXG + 5 more.

Interest Rates

Interest ranges from 4% - 8.6% per asset.

Usability

Privacy

Organization Type

Centralized

Reputation

Fees

Sign up

Gemini Earn™

Gemini is a trusted cryptocurrency institution based in New York, United States that was founded by well-known venture capitalists the Winklevoss twins. Their platform enables users to securely buy, sell and trade digital assets - while also offering a product that allows customers to earn interest on their crypto through Gemini Earn.

This is one of the safest and easiest ways to earn high APY on your cryptocurrency. Simply sign up, deposit your crypto and start earning interest in minutes.

Available Assets

USDC, GUSD, DAI, Bitcoin, ETH + 50 more

Interest Rates

Interest up to 7.4% APY

Usability

Privacy

Organization Type

Centralized

Reputation

Fees

Sign up

AAVE

AAVE is an open source liquidity protocol that enables users of the Ethereum network to earn interest on crypto deposits. At the moment, they are one of the most secure DeFi protocols with over $17B in assets locked in their borrowing and lending platform.

They also offer a solution on Matic Network's Layer 2, which provides great interest up to 14% APY and all transaction fees are next to nothing.

Available Assets

DAI, USDT, USDC, WBTC + 30 More

Interest Rates

Up to 15% deposit APY

Usability

Privacy

Organization Type

Decentralized

Reputation

Fees

Sign up

Binance Lending

Binance is one of the world's largest digital asset exchanges that offers a suite of useful products for crypto natives including a spot exchange, futures trading, borrowing and lending and much more. Their native crypto lending platform offers interest rates of up to 7% on a wide variety of assets in an extremelly easy and accessible manner.

Binance is a great way to start borrowing, lending and earning yield for beginners.

Available Assets

BTC, BNB, USDT, USDC, LTC, LINK + 50 more

Interest Rates

Crypto Interest up to 7% APY on various assets

Usability

Privacy

Organization Type

Centralized

Reputation

Fees

Sign up

Kraken Staking

Founded in mid-2011 by one of the original cryptocurrency entrepreneurs Jesse Powell, Kraken has grown to become one of the largest crypto platforms around the world. With Kraken, users can buy, sell and trade over 100 different crypto assets.

Their platform also enables users to maximize their holdings by staking crypto and fiat currency to earn rewards. Their current staking rewards and interest on crypto is up to 17% APY depending on the currency you choose to stake.

Available Assets

DOT, FLOW, BTC, XTZ, ATOM + 5 More

Interest Rates

Earn interest up to 17% APY

Usability

Privacy

Organization Type

Centralized

Reputation

Fees

Sign up

Argent Wallet

Argent is one of the most user-friendly crypto wallet products on the market. Their secure smart wallet allows users to store, send and earn interest on digital assets held in their wallet. The Argent wallet leverages both Decentralized Finance and Centralized Finance to deliver the best crypto lending products and interest earning opportunities.

Available Assets

Wrapped BTC, Ethereum, USDC, YFI, AAVE + 40 more.

Interest Rates

Interest ranges from 5% - 12% per asset.

Usability

Privacy

Organization Type

Centralized

Reputation

Fees

Sign up

Compound Finance

Compound Finance is the leading crypto lending and borrowing platform in Decentralized Finance. Their protocol is an algorithmic and autonomous interest rate earning platform that was designed to unlock a universe of yield bearing opportunities.

While Compound does offer great interest rates on assets like wBTC, Ethereum, DAI and many more - their user interface can be tricky and is generally recommended for users familiar with DeFi

Available Assets

wBTC, Ethereum, DAI, UNI + 10 more

Interest Rates

Crypto interest ranges from 4% - 9% per asset.

Usability

Privacy

Organization Type

Decentralized

Reputation

Fees

Sign up

FTX Margin Lending

FTX is one of the fastest growing cryptocurrency exchanges around the world who offer a diverse suite of products including spot trading, stock trading, futures trading and most importantly - margin lending. Their margin lending product allows users to deposit US Dollars, USDT, USDC, AAVE and many more crypto assets to earn up to 30% APY.

FTX is hands down one of the best and highest interest earning platforms for your crypto and US dollars. FTX fees are also the most competitive for trading and borrowing.

Available Assets

US Dollars, USDC, USDT, 1INCH, BTC + 80 more

Interest Rates

Earn interest up to 30% APY

Usability

Privacy

Organization Type

Centralized

Reputation

Fees

Sign up

Huobi Earnings

Huobi is a leading centralized digital asset exchange based in Singapore that largely services clients based in Asia. They offer may products including spot trading, perpetual contracts, other derivative contracts and most importantly a savings account called Huobi Earnings.

With Huobi Earnings, users can easily deposit their crypto on to their Huobi account and start earning interest immediately over a fixed term (generally 7-10 days). This is a safe and easy way to earn interest on your crypto if you are based in Asia.

Available Assets

BTC, DOT, HUSD, USDT + 30 more

Interest Rates

Earn interest up to 10% APY

Usability

Privacy

Organization Type

Centralized

Reputation

Fees

Sign up

Yearn Finance Vaults

Yearn Finance is the largest and most trusted lending aggregator on the Ethereum blockchain. Yearn Finance integrates with other DeFi protocols to provide lending aggregation and yield generation all in one place.

This means that they make it easy for investors to select from the best yield farming opportunities across DeFi because you can select and compare them all conveniently on the Yearn Finance platform. As it stands, there is over $2B in assets locked in the Yearn Finance protocol making it arguably one of the most trusted yield aggregators on Ethereum, or any other chain.

Available Assets

USDC, USDT, CRV, WBTC, yveCRV + 30 more

Interest Rates

Interest up to 15% APY

Usability

Privacy

Organization Type

Decentralized

Reputation

Fees

Sign up

DYDX Margin Lending

dydX is the largest decentralized futures trading platform in the world by volume that is built on the Ethereum network. Their platform also offers a product called margin lending, which allows users to deposit Ethereum on dydX to start earning interest that gets paid out every hour and compounds.

This is one of the more complicated ways to get yield on crypto, so it is generally recommended for advanced users. The advantage of dydX is that it requires no verification or KYC and users can get yields of up to 8% on USDC, USDT, Ethereum, DAI and much more.

Available Assets

BAT, USDT, DAI, USDC, COMP + 10 More

Interest Rates

Crypto interest up to 8% APY

Usability

Privacy

Organization Type

Decentralized

Reputation

Fees

Sign up

Nexo Finance

Nexo Finance is one of the longest running centralized borrowing and lending platforms that offers up to 12% interest paid out daily to various crypto assets. Since their inception in 2017, they have grown to over $12B in assets under management, with over 1.5M users and are available in 200+ jurisdictions.

Their platform offers really fast onboarding and a daily payout which is a significant and unique point of difference when compared with the market.

Available Assets

BTC, ETH, XRP, USDT + 50 more

Interest Rates

8% on Bitcoin and up to 12% on other assets.

Usability

Privacy

Organization Type

Centralized

Reputation

Fees

Sign up

OKEx Interest

OKEx is a large exchange based in Malta who claim to be the best cryptocurrency exchange for traders and investors at all levels. Their intuitive platform enables users to earn interest on their idle crypto assets through their product OKEx earn.

Through this product, you can earn flexible or fixed interest on popular assets such as Bitcoin, Ethereum, Litecoin and many more. It is important to note that their interest on Bitcoin is quite low at around 1%.

Available Assets

BTC, WBTC, ETH, LTC + 50 more

Interest Rates

Earn interest up to 10% fixed APY

Usability

Privacy

Organization Type

Centralized

Reputation

Fees

Sign up

Bitfinex Lending

Bitfinex are a cryptocurrency exchange based in the United States that offer a staking solution for clients to deposit Proof-of-Stake cryptocurrencies to earn interest. As it stands, users can deposit assets like Tron, EOS, Tezos, Cosmos, Cardano, Algorand and more to earn monthly rewards (these are variable).

Although the yields appear to be high, there is added risk using Bitfinex's interest earning mechanism as it relies on the Proof-of-Stake networks which can be unreliable and variable. The fixed interest offerings of an exchange like Coinbase, Binance or Gemini are more competitive and safe.

Available Assets

Algorand, Tron, EOS, ETH2 + 10 more

Interest Rates

Earn up to 10% APY on staking

Usability

Privacy

Organization Type

Centralized

Reputation

Fees

Sign up

Celsius

Celsius is one of the leading lending and borrowing protocols in the ecosystem. Celisus have a native token (CEL) - but are still very much a centralized entity who are a registered securities business in the United States.

Their platform offers an easy to use crypto wallet that is secure and offers 40+ collateral options to start earning interest monthly. You can earn 12.65% APY on USDC, 6.35% APY on ETH and 6.20% APY on Bitcoin by signing up and depositing your assets with no KYC. Read our full Celsius Review.

Available Assets

BTC, ETH, USDC, USDT + 36 more.

Interest Rates

Crypto interest up to 13% APY

Usability

Privacy

Organization Type

Centralized

Reputation

Fees

Sign up

Crypto Com Lending

Crypto.com is a well-known cryptocurrency exchange and institution that enables users to buy, sell, trade and lend crypto. Their lending facilities offer flexible lockup terms from 7 days to 1 month and 3 months on crypto assets such as Bitcoin, USDC, USDT, PAX, DAI and much more.

Unlike BlockFi, Nexo, Coinbase and other reputable centralized Bitcoin and digital asset lending facilities - they do not offer native insurance to cover for collateral risks.

Available Assets

BTC, ETH, PAX, PAX Gold + 20 more

Interest Rates

Variable crypto interest rates up to 16% APY

Usability

Privacy

Organization Type

Centralized

Reputation

Fees

How does Crypto Lending work?

In summary, crypto lending is an alternative kind of yield bearing investment that enables investors to lend their cryptocurrencies to borrowers in exchange for attractive interest rates. In this type of transaction, there are generally two parties involved in this loan in a peer-to-peer manner:

The first is the lender, who is the person lending out the crypto to the borrower and is the person will receive the interest. The other is the borrower, who will have to deposit some crypto (lets say 50% of the total borrow amount) as collateral to secure the loan amount from the lender. The reason they have to deposit collateral is to ensure that if something goes wrong, the lender will still have some money to compensate themselves. Generally in crypto lending - borrowers will need to over-collateralize their loan, given the peer to peer nature of the system.