5 Nexo Alternatives for Crypto-Backed Loans in 2026

Nexo combines a reusable credit line with broad crypto collateral support. That can be useful—but it is not the only way to borrow against digital assets. Some borrowers want native-Bitcoin collateral, fixed pricing without a loyalty token, a US-specific term loan or a self-custodial DeFi position.

This guide compares five genuine alternatives. Nexo may still be the better fit for some users. Details were checked on 3 September 2026; availability and rates can change.

Compare your Ledn loan amount and rate — see the BTC requirement and published APR before deciding.

Nexo alternatives at a glance

Why borrowers look for a Nexo alternative

Nexo's official page advertises a credit line against BTC, ETH and more than 100 other supported assets, with loans from USD 50 to USD 2 million and BTC shown at 50% LTV. It also states that its lowest rate depends on loyalty tier, LTV, region and other factors.

Common reasons to compare alternatives include:

• wanting pricing that does not depend on holding a provider token
• borrowing against native BTC through a Bitcoin-focused service
• requiring a fixed term or a specific payment schedule
• needing a product available in a particular jurisdiction
• preferring self-custodial, onchain borrowing

These are differences in fit, not evidence that one provider is universally safer or better.

1. Ledn: best suited to a native-Bitcoin borrower

Ledn offers fixed-rate loans against native BTC. Loans typically start at 50% LTV, with a USD 500 minimum and 12-month standard term. Published APR ranges from 11.49% below USD 250,000 to 9.25% at USD 2 million or more.

Unlike a loyalty-based model, the published tier depends on each individual loan size. There is no traditional credit check, although identity, location and eligibility checks apply. There are no required monthly payments before closure and no early-repayment penalty.

For Custodied Loans, collateral may only be re-posted to an institutional USD funding partner or a Ledn-sponsored financing vehicle. Ledn says it remains in custody, ring-fenced or bankruptcy-remote as applicable, and cannot be lent out to generate interest by Ledn or the partner.

Ledn may suit someone who holds BTC and values a focused product, fixed pricing, support and published LTV controls. Nexo may suit someone who needs many collateral assets or a reusable line. For a direct breakdown, see our Ledn vs Nexo comparison.

Explore Ledn Bitcoin-backed loans

2. SALT: fixed rates by LTV and term

SALT's official page listed one-, three- and five-year loan options when checked. The starting rate was 7.49% APR at 30% LTV for one year, while its published 50% LTV one-year rate was 8.75%. SALT states there are no origination or prepayment fees and that collateral is not rehypothecated.

SALT may fit an eligible US borrower who wants a longer fixed term. Compare like with like: a 30% LTV quote provides less cash against the same collateral than Nexo's displayed 50% BTC LTV.

3. Unchained: commercial borrowing for eligible entities

Unchained says it originates business-purpose Bitcoin loans to eligible entities, not consumer loans. Its published terms included a USD 150,000 minimum, 50% initial LTV equivalent and monthly interest-only payments. The public rate information was dated November 2025, so request a current quote.

It may fit a business seeking a large Bitcoin-backed facility. It is not a direct replacement for Nexo's small, reusable retail credit line.

4. Aave: multi-chain DeFi borrowing

Aave V3 is an overcollateralised smart-contract protocol. Users supply supported tokens, borrow available assets and monitor a health factor. Rates are dynamic and liquidation can occur when collateral falls below the market's threshold.

Aave may fit an experienced user who values permissionless, self-directed access. For Bitcoin exposure, it normally requires a tokenised form of BTC, which adds issuer, bridge, network, oracle, liquidity and smart-contract dependencies.

5. Compound: base-asset DeFi markets

Compound III uses separate markets in which supported collateral backs borrowing of a base asset. Borrowing power, minimum size, rate and liquidation parameters differ by market. Rates change with utilisation and governance-set models.

Compound may fit users who want a transparent onchain market and can manage its technical risks. It does not provide the same human support, fiat workflow or contracting structure as a centralised lender.

Ledn vs Nexo

Read both agreements. A feature table cannot show the full custody, insolvency, liquidation or legal-recourse position.

Frequently asked questions

What is the best Nexo alternative?

It depends on the reason for switching. Ledn may fit native-Bitcoin borrowers, SALT may fit eligible US term-loan borrowers, Unchained may fit qualifying businesses, and Aave or Compound may fit experienced DeFi users.

Does Ledn require its own token for a lower rate?

No. Ledn's published APR tiers are based on the size of each individual loan.

Which alternative supports altcoin collateral?

Aave and Compound support market-specific onchain assets. SALT lists selected assets beyond BTC. Ledn is Bitcoin-focused. Always check the current asset and network before transferring funds.

Can I switch an existing loan directly?

Usually this requires closing or refinancing the old position and opening a new one. That creates timing, transfer, price and possibly tax risk. Confirm the sequence and avoid assuming collateral can be transferred directly.

Is DeFi safer than a centralised lender?

The risks differ. Centralised lending adds custody, operational and counterparty risk. DeFi adds smart-contract, oracle, network, wallet and automated-liquidation risk. Trust moves; it does not vanish.

Editorial sources

Related Ledn guides: crypto lending platforms, Aave alternatives, Bitcoin loan rates and Proof of Reserves.

• Nexo Credit Line
• Ledn Bitcoin-backed loans
• Ledn Loans Help Center
• SALT Bitcoin loans
• Unchained loans
• Aave borrowing guide
• Compound III documentation

This article is general information only, not financial, investment, legal, accounting or tax advice. It is not a recommendation to use or leave Nexo or any alternative. Rates, terms and availability change. Digital-asset collateral can be liquidated, causing financial loss.