Bitcoin-backed loans are a fast and convenient way to access dollars without having to sell your bitcoin. There are many advantages to using a dollar loan instead of selling to receive dollars. You get to keep all of the upside of your bitcoin position. You do not create a taxable event, and most importantly, you get to keep your bitcoin. Once the loan is repaid, your bitcoin is sent back to you.
We are the first digital asset lending company in the crypto industry to complete a Proof-of-Reserves by Armanino LLP. We plan for these procedures to be conducted semi-annually. Each client with a balance on the Ledn platform at the time that the procedures are performed can use a unique hashed ID to confirm that Ledn accurately accounted for their balances.
Loans are funded within 24 hours of approval. Pay off your loans at any time without penalties. No monthly payments are required.
Exchanging bitcoin for dollars is a taxable event while taking a loan with Ledn is not. All interest expenses for the loan may be tax deductible.
How Ledn Bitcoin-Backed Loans Work
- What do I need to apply?
- How is my bitcoin collateral stored during my Dollar Loan?
- Can I withdraw my bitcoin collateral during my Ledn loan?
- What happens if the price of bitcoin significantly decreases?
- What happens if the bitcoin price increases?
- Do you offer international loans?