For crypto holders seeking liquidity without selling their assets, crypto-backed loans provide a practical solution. APX Lending offers a trusted, regulated alternative for clients looking to borrow against Bitcoin or Ethereum. Here’s what makes APX Lending a reliable choice in the crypto lending space, alongside other established platforms like Ledn. While both offer valuable services, APX Lending provides unique features tailored for clients prioritizing regulatory transparency and a commitment to secure, insured collateral solutions. 

Why APX Lending Stands Out

Flexible Loan Terms

APX Lending: Terms from 3 months to 5 years, with options to extend or repay early with zero penalties. APX Lending also offers LTV ratios from 20% to 60%, giving clients more flexibility and borrowing power against their collateral.

Ledn: Limited to 12-month loans and 50% LTV, with fewer customization options for borrowers.

Loan-to-Value (LTV) Ratio

APX Lending: Supports LTV ratios from 20% to 60%, providing higher borrowing power.

‍Ledn: Offers a fixed 50% LTV, with no flexibility.

Borrow More, Withdraw Collateral

APX Lending: Borrow more or withdraw collateral if its value increases, offering a high degree of flexibility. We offer an unprecedented level of flexibility to our borrowers.

Ledn: Doesn’t support term extensions or collateral withdrawals, even if your collateral grows in value.

Custody Storage

APX Lending: Insured($250M), segregated cold storage with BitGo. Funds are never pooled together with other clients’ funds or commingled. This allows us to offer real-time, on-demand collateral visibility on the blockchain and the APX Lending dashboard.

Ledn: Unspecified institutional USD funding partner. Provides bi-annual Proof-of-Reserves attestations, with no on-demand collateral visibility and gaps in real-time collateral visibility. That means that as soon as Ledn publishes their Proof-of-Reserves attestation, it’s already out of date, until their next audit, and you don't know what happens with your deposited collateral between audit dates.

‍Interest Payment Types

APX Lending is built to offer a borrowing experience that balances flexibility with peace of mind. We offer both, interest-only loans or amortized loans (where you pay back the loan and interest in equal installments). We charge absolutely no admin or origination fees on our loans and make borrowing clear and manageable.

Ledn charges a 2% admin fee alongside their annual interest rate. Ledn allows you to accumulate interest and pay your accumulated interest when the loan is due. It is not clear if they charge you compound interest while your interest payments are being accumulated.

Security and Transparency: Focus on Policies and Procedures

APX Lending prioritizes top-level security and transparency, keeping client collateral safe with SOC 2 Type 1 certified protocols. This certification, achieved through rigorous third-party auditing, confirms APX’s commitment to secure data management and asset protection.

Ledn possesses a similar certification but lacks real-time collateral transparency.

Domicile and Regulatory oversight: APX Lending clear advantage

APX Lending is incorporated in Toronto, Canada and is registered with FINTRAC in Canada and FinCEN in the US. APX Lending also applied for registration with the Ontario Securities Commission. Our application is currently pending review.

Ledn on the other hand, while originally Canadian, left Canada and set up their business in the Cayman Islands instead, an offshore jurisdiction that is home to the infamous Ugland House - an office building in the Cayman Islands that is the registered office address for over 40,000 entities! (Read more about Ugland House on Wikipedia).

Supported Digital Assets: What You Can Borrow Against on Each Platform

Both APX Lending and Ledn accept Bitcoin and Ethereum as collateral, focusing on secure, high-demand assets for borrowing.

Loan Application Process: How to Open an Account and Request Funds

Both APX Lending and Ledn aim to provide a straight forward loan application process for their users. APX Lending emphasizes regulatory oversight, simplicity and efficiency:

• Opening  an Account: Begin by visiting the APX Lending website and creating an account using only your email.
• Apply  for a Loan: Once your account is set up, you can request a loan by  specifying the amount you wish to borrow. You'll agree to the loan terms and provide your Bitcoin or Ethereum as collateral before receiving your loan.
• Receiving  Funds: After your collateral is secured in a segregated, insured cold wallet, APX Lending processes and sends you your loan within 24 hours.

While both platforms strive for ease of use, APX Lending's flexible terms, real-time collateral visibility and focus on regulatory adherence, offers borrowers a level of unprecedented transparency and confidence in the services it offers. With no hidden fees and a focus on client satisfaction, APX Lending ensures that accessing funds is as straight forward as possible.

Earn Trust and Financial Flexibility with APX Lending

Choosing a crypto-backed loan provider requires trust and a clear understanding of how your assets are managed. APX Lending sets the standard with a transparent, secure approach that empowers borrowers to access funds without sacrificing asset visibility or security. With industry-leading partnerships, flexible loan terms, and a straightforward fee structure, APX Lending provides both the peace of mind and financial flexibility that today’s crypto investors value. For those looking to borrow against Bitcoin, APX Lending offers a dependable, client-focused solution designed to meet the highest standards in crypto lending.

Is Ledn Trustworthy? 

Ledn claims to have had no issues processing client withdrawals and although there is no independent third-party way to verify these claims, there does not seem to be anything online to contradict their statements. Ledn is domiciles in an off-shore jurisdiction which means there is limited recourse for Canadian or U.S. clients that may need to take any legal actions against Ledn in the future.

What is the minimum loan for Ledn?

$500 USD

What is the loan duration for a loan with Ledn?

12 months

When was Ledn founded?

2018