Before You Begin
Borrowing against your Bitcoin on Bitlendex takes just a few minutes. Before you start, make sure you have:
- A Bitlendex account (sign up takes under 2 minutes).
- A government-issued photo ID for a quick, one-time identity check — required for every loan, whether you choose a crypto or bank payout.
- Bitcoin available to deposit as collateral.
- A destination for your loan proceeds: a crypto wallet address (for USDC) or bank account details (for fiat currency).
Minimum collateral
Bitlendex supports loans from $500 up to $500,000 — the collateral you need scales with the amount you borrow and the LTV you choose. For a larger loan, contact support@bitlendex.com.
Step 1: Use the Loan Calculator
Start on the Bitlendex homepage and scroll to the Loan Calculator. Enter the amount you want to borrow.
The calculator instantly displays the required Bitcoin collateral, your loan-to-value (LTV) ratio, and your costs: the APR, the variable interest rate, the 2% origination fee, and the estimated monthly interest. Adjust the amount and LTV to see how they affect your loan terms.
How much do you want to borrow?
Liquidation Price
BTC price at which your loan may be liquidated
APR
Variable interest rate and 2% origination fee
Estimated Interest
Accrues on your starting balance. No monthly payments.
- Origination Fee (2%)Added to your loan balance
- $100.00
- Starting Balance
- $5,100.00
- Est. 12-Month Cost
- —
- Loan Term
- 12 Months
Lower LTV = larger safety buffer
Choosing a lower LTV (e.g. 40% instead of 50%) gives you a larger cushion against Bitcoin price drops. This reduces the chance of a margin call or liquidation.
Step 2: Create Your Account
Click "Get Started" to create your Bitlendex account. You can sign up with your email address or connect an existing wallet.
Automatically, Bitlendex generates a secure embedded wallet for you using Privy. There are no browser extensions to install, no seed phrases to write down, and no private keys to manage.
Your embedded wallet is secured by Privy's infrastructure with hardware-backed key management. You can export your keys at any time if you want full self-custody.
Step 3: Choose Your Loan Amount
Once your collateral is confirmed, click "Borrow" from the dashboard. Enter the amount you want to borrow.
The interface shows a suggested LTV (40%) and the same costs as the calculator: the APR, the variable interest rate, and the 2% origination fee. You can select an LTV max of 60%.
We recommend borrowing at 40 to 55% LTV for a comfortable safety margin. At 60% LTV you have less room before reaching margin call territory.
Step 4: Select Your Payout Method
Choose how you want to receive your loan proceeds:
- USDC Crypto Wallet: Stablecoin delivered directly to your ERC-20 wallet address. USDC reaches your wallet about 10 minutes after your Bitcoin deposit confirms.
- Fiat to Bank: Your loan paid out in US dollars. USD reaches your bank the same day by instant transfer when your bank supports it, or in 1–2 business days by ACH.
Confirm your selection and review the loan summary: including the total amount, interest rate, LTV ratio, and payout destination.
What is an ERC-20 address?
An ERC-20 address is an Ethereum wallet address that can receive tokens like USDC. If you choose the USDC payout option, you'll need an Ethereum-compatible wallet (such as MetaMask, Coinbase Wallet, or Trust Wallet) to provide your receiving address. Make sure to use an ETH wallet address you control, not an exchange deposit address.
Step 5: Deposit Bitcoin Collateral
Next, you will need to deposit your BTC as collateral to initiate the loan.
- Copy your unique deposit address from the dashboard.
- Send BTC from your external wallet or exchange.
- Wait for on-chain confirmations (typically 1 to 3 confirmations, about 10–30 minutes). You can provide transaction hash to speed up detection on our side.
- Your collateral balance updates automatically once confirmed.
Send only Bitcoin
Only send BTC to your Bitlendex deposit address. Sending other cryptocurrencies to a Bitcoin address may result in permanent loss of funds.
Step 6: Review all Information and Receive Funds
Make sure to review the final loan summary and payout wallet address. The loan will automatically initiate once it detects the BTC you've sent.
You can track your loan status, LTV ratio, and accrued interest from your dashboard at any time.
12-month term, no monthly payments
Every loan has a fixed 12-month term with no monthly payments. You can repay any amount at any time before the term ends, with no prepayment penalty. Interest accrues on your outstanding balance at a variable rate. The full balance (your starting balance plus accrued interest) is due by the end of the term. Your Bitcoin stays locked as collateral until you repay the loan in full. If your LTV reaches the liquidation threshold during the loan, part of it can be liquidated.
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