When people evaluate crypto-backed lenders, they usually start with rates. This comparison breaks down the best crypto loan rates and the mechanics behind your APR—LTV, term, fixed vs variable, and more.  

Because price isn’t the only factor, we also cover must-have features and risk controls. For head-to-heads, see APX Lending vs Ledn and APX Lending vs Aave.

Quick comparison: best crypto loan rates

Rates change. Treat the table below as a snapshot and always confirm live terms in-app before you borrow. For reference, this article was last updated October 30, 2025.

Looking for a regulated, fixed-rate option? APX sets fixed rates and doesn’t charge origination fees, which makes total cost easier to predict than token-tiered or DeFi-variable products.

What impacts crypto loan rates?

Loan-to-value (LTV) ratios

Lower LTV = lower lender risk = lower rate. Example: Post $50,000 in BTC and borrow $20,000 (40% LTV). Because the loan is well covered by collateral, pricing is usually better than at 60–70% LTV. CeFi platforms often tier rates at ~30%, 50%, and 70% LTV, and most BTC/ETH loans originate between 40–60%.

DeFi markets assign each asset a maximum borrow limit (collateral factor) and a higher liquidation threshold. If falling prices push your LTV up to that threshold, the protocol will automatically sell some collateral to reduce your debt.

Variable vs fixed rates

• Fixed: A single APR for the term (e.g., APX’s fixed tiers). Predictable payments and easier total-cost math.

• Variable: Floats with market demand (Aave/Morpho). You might start low but pay more if utilization spikes. That’s because when few people are borrowing money, there’s lots of cash sitting idle, so the protocol keeps rates low to encourage borrowing. In periods of high utilization, the opposite is true, attracting more lenders at your cost!

Loan term length

Shorter terms can come with lower posted APR but higher cash-flow pressure (balloons or interest-only). Some lenders use interest-only monthly payments with a principal balloon.

Collateral type (BTC, ETH, stablecoins)

BTC and ETH are standard with clearer LTV norms. Some CeFi lenders also accept stablecoins; DeFi markets quote different rates per asset, and many BTC-backed DeFi loans require wrapped BTC.

CeFi vs DeFi platforms

• CeFi: Off-chain agreements, clearer disclosures, potential custody insurance, and—in strong cases—regulatory approvals (see APX’s OSC/CSA decision). Rates are often fixed with explicit fees.

• DeFi: On-chain, permissionless, variable rates; you manage smart-contract risk and liquidation bots.

Why regulation matters (especially in Canada and the United States)

Before choosing a lender, verify registration and approvals:

• Canada: Check the FINTRAC MSB registry.

• United States: Use the FinCEN MSB state selector.

• APX in Canada: Review APX’s OSC/CSA exemptive relief decision.

Why? Because regulated providers operate within strict compliance frameworks that protect you, the consumer!

Bottom line

If you value predictability, fixed-rate CeFi products like APX Lending (no origination fees, transparent tiers) can be compelling. If you’re comfortable managing on-chain risk, a floating rate, and getting your BTC to a form that you can actually use on a DeFi protocol, then DeFi routes (e.g., Aave or Coinbase-connected interfaces) can be powerful—just monitor your LTV and the market.

FAQs about crypto loan rates