Looking for an alternative to BlockFi?
Check out Ledn accounts and learn about the best savings and lending platform on the market.
Back when BlockFi was operational, before the company filed for bankruptcy, it was considered a top-rated service for lending, borrowing and saving in the crypto industry. However, a lack of proper due diligence and risk management created underlying issues that eventually caught up to it. Unfortunately, many innocent clients are now tied up in lengthy and costly bankruptcy proceedings.
In an effort to attract assets under management at all costs it offered rates that turned out to be too good to be true, as a way of enticing users. The major difference between BlockFi and Ledn is that Ledn is honest and open about how they utilize assets, whilst also working hard to provide competitive, yet realistic, rates to their exponentially growing user base.
Ledn Cayman SEZC Inc., which provides Ledn’s lending products other than Ledn Growth accounts, is also regulated as a Virtual Asset Service Provider (VASP) from the Cayman Islands Monetary Authority (CIMA).
Transparency
Ledn is transparent. They were the first digital asset lending company in the crypto industry to complete a Proof-of-Reserves. By providing these biannual attestations with a Certified Public Accountant, who works independently from the company… Learn more
Ledn is transparent. They were the first digital asset lending company in the crypto industry to complete a Proof-of-Reserves. By providing these biannual attestations with a Certified Public Accountant, who works independently from the company, clients can confirm their balance is accounted for. Ledn also issues monthly Open Book Reports which provide insight into how assets are being utilized to generate interest on its Growth Accounts and lower its Loan interest rates. Read Less
Competitive Rates
Ledn offers competitive lending and saving rates. By working hard to provide the best rates possible, whilst doing strict due diligence on all counterparties, Ledn is able to make lending and saving a truly viable option for digital asset holders around the world.
Risk Management
Ledn’s risk management and rigorous due diligence processes ensure that they only work with high-quality institutions and reliable assets. Any counterparty lending is matched on both maturity and assets. Ledn supports only the most liquid assets… Read more
Ledn’s risk management and rigorous due diligence processes ensure that they only work with high-quality institutions and reliable assets. Any counterparty lending is matched on both maturity and assets. Ledn supports only the most liquid assets in the industry BTC and USDC, and expects to add ETH and USDT soon.Read Less
Ledn is on a mission to make crypto lending and saving easier and more accessible than ever before. Let’s take a look at what the crypto community love about them!
Ledn takes care of digital assets by employing state-of-the-art security and protection protocols. Along with this, processes happening at Ledn are encrypted using AES-256, and require 2FA activation from its community. Not only this, but Ledn uses the world’s first qualified custodian, BitGo, to store part of its digital assets.
The numbers don’t lie. Ledn offers highly competitive interest rates for its range of products, including savings accounts and lending services. Ledn rates are meticulously chosen to give its clients the best interest rates for their assets.
APYs vary depending on assets held on platform, for more information visit https://ledn.io/legal/rates-terms
As of January 1, 2024
Assets
Ledn
BlockFi
Growth Accounts
BTC
USDC & USDT
ETH
1-3% APY
8.5-10% APY
3-4% APY
No longer operational
Loans
50% LTV
BTC
ETH
9.4%
(11.4% APR) 2% admin fee applies
Coming Soon
The one major element that separates Ledn from BlockFi is that Ledn has strict risk management and due diligence policies and procedures. Just like you would expect from any partnership, Ledn acts with transparency and treats your business as an immense privilege and responsibility. Ledn is committed to offering services that they believe will truly help individuals manage and grow their wealth. This subtle, yet all-important factor is what distinguishes Ledn from the likes of BlockFi.
“I had the opportunity and good fortune to meet Mauricio Di Bartolomeo and Mr. John Glover in their amazing offices in Toronto. Once again, I received confirmation that my choices of where to place my trust and investments have proven to be correct. I am particularly pleased to have had the opportunity to exchange important words with them about the new products that are coming. Thank you again.”
JB
John Bishop •
What is BlockFi?
Why did BlockFi file for bankruptcy?
