Editorial Review

Ledn review: A better home for your Bitcoin

Ledn is a world-class financial service catered to the crypto-economy. By focusing on security, privacy, & Bitcoin, Ledn gives the power to HODLers. Find a better home for your Bitcoin & start a savings account, take a loan, or 2x your Bitcoin with Ledn.

April 30, 2020

Our Take

Editor's rating

Ledn Loan Review

Ledn Logo

Ledn Bitcoin-Backed Loan

4.0 Editor's Rating
on Ledn's website

Ledn Bitcoin-Backed Loan

4.0 Editor's Rating
Unavailable in: Cuba, Iraq, Iran, North Korea, Pakistan, Sudan, Syria
Loan details

KYC required

Loan-to-value: 50%

Terms: 1 year

Collateral accepted


Ledn Standard Loan


Ledn offers a standard 50% loan-to-value (LTV) with a 1% monthly interest rate across 12 months (12% per annum).

Loan terms

Keep all the upside after paying off the loan. That is, if the Bitcoin price has increased, the user gets to keep any gains made. The loan does not constitute a taxable event and any interest expenses for the loan may be tax deductible. Loans are funded within 24 hours of approval. The minimum loan amount is $500.00, which now would require a deposit of 0.1339928 BTC (i.e., $7602.64/BTC). The loan is a standard 12-month loan, but alternative options are available after the initial term ends. No monthly interest payments are required. Ledn offers a repayment schedule which requires only one payment when closing the term. Pay off the loan at any time in dollars or Bitcoin with no prepayment penalties. Each loan is secured with Bitcoin. International loans are available. Users must contact Ledn directly to see if the country qualifies for a Ledn loan.


Funds are available for withdrawal once the loan is approved. Users can choose between fiat or the DAI stable coin. If withdrawing fiat, users will need to provide bank information. The bank information is saved for future convenience.

Ledn B2X Loan

What Ledn does best is BSX. Ledn's B2X is a way for users to grow their Bitcoin HODLings. With B2X, Ledn will match the amount of Bitcoin one deposits, doubling the user's Bitcoin. Use Bitcoin HODLed with Ledn as collateral to take out a dollar loan to buy more Bitcoin. It is like taking out a loan but instead of using the money for other things, Bitcoin is purchased with it instead.


Works like a Ledn Bitcoin backed loan. A standard 1% monthly interest rate across 12 months (12% per annum) with a 2% administration fee.

B2X cost across deposit values


Loan terms

Instant execution. Pay off the loan at any time with no prepayment penalties. Once loan is paid, the balance of the Bitcoin is returned to the user. Identical to Ledn's standard loan terms and is subject to the same margin call provisions. The user keeps any gains. Must register an account and verify profile. Only available for:

  • Canada
  • Argentina
  • Chile
  • Colombia
  • Costa Rica
  • Dominican Republic
  • Mexico
  • Paraguay
  • Spain
  • Venezuela


Once the loan is repaid, the user will receive the total amount: the original collateral and purchased Bitcoin.

Other Loan Details


If the Bitcoin price drops significantly, users must:

  • deposit more bitcoin collateral in the segregated wallet, or
  • pay down some of the loan principle

If there is no response from the user, Ledn will sell part of the bitcoin in order to meet the required loan-to-value (LTV) under the bitcoin-backed loan.


Ledn does their own in-house KYC & AML verification.

What data is needed?

  • Date of birth
  • Home address
  • Government-issued photo ID
  • Selfie holding Government-issued ID
  • Proof of address document


Ledn websites use HTTPS, passwords, and sensitive information is encrypted with AES-256, and is regulated by strict internal security policies. Additional login specific actions and 2FA are required. Collateral bitcoin is kept in cold storage (offline) in institutional-grade vaults throughout Canada. Each user receives a segregated wallet address for real-time on-chain verification, or proof-of-reserves.


Ledn does not monetize or sell user data to third parties, which reduces the chance of data breaches. Ledn will only request the required data that is needed to meet compliance requirements, nothing else. User data is never downloaded/stored on local servers. User data is stored on private networks and is blocked from public IPs. Request to delete your information at any time.


Ledn offers insurance on user's Bitcoin through BitGo Insured Custody.

Ledn Company Review

What Ledn does well

Ledn does well at being a Bitcoin only company that is focused on user privacy and security. They don't throw utility tokens at your face, they don't have tiers that segregate users based on portfolio make up, and they don't require KYC until you are ready to withdraw interest or take out a loan. You can deposit your Bitcoin and begin to accrue interest without KYC. Only give Ledn your info when you want. They have standard loans which makes the choice easy for the user. The have the B2X loan that allows you to double your Bitcoin holdings. And they have a savings/interest account. All in all, Ledn provides world-class financial services catered to Bitcoiners.

Why you might want to choose another service?

Users may look for better interest rates elsewhere. For example, some companies offer tiers, where users qualify for higher or lower interest rates depending on the make-up of their portfolio. Ledn is a Bitcoin only company. However, they do deal in USD and the stable coin DAI. This is another reason why users may select another service; they want more variety. Perhaps they want ETH instead of Bitcoin, USD, or DAI? While being a Bitcoin only company makes Ledn unique, it may also be why users turn to other services. Keep in mind though that the Ledn website states they are open to add other cryptocurrencies. Ledn is simple because they offer one standard loan plan at a set interest rate for 12 months, that's it. User's may want more options. Other services offer varying sets of interest rates and loan terms. While simplicity is important, user may look elsewhere for more options. Currently, Ledn is only available on a browser, no mobile app yet. Some users may prefer to have access to their accounts from their phones and mobile apps make this easy. Users may opt for a service that has mobile app access.

Wrapping up

Ledn is a Canadian company and was founded in August 2018 by Adam J. Reeds (Co-founder and CEO) and Mauricio Di Bartolomeo (Co-founder and CSO). The Ledn team has be advised by individuals such as Ana De Sousa (Head of Projects at FalconX) and Jean-Philippe Vergne (Ast. Professor at Richard Ivery School of Business. Together, Ledn is committed to building world-class financial services catered to the crypto-economy. They do this by focusing on security, privacy, and Bitcoin.

Ledn is secure, with login specific actions and 2FA. Bitcoin is secured in cold storage in institutional-grade vaults throughout Canada. Each user gets a segregated wallet address which allows for real-time proof-of-reserves. Ledn's site uses HTTPS, passwords, and sensitive information all encrypted with AES-256, and regulated by strict internal security policies. Users have control of their assets and data at Ledn.

Ledn is privacy focused. They never monetize or sell user data to third parties, which can reduce the chance of a data breach. Ledn will only ask for the necessary paperwork to meet compliance requirements, nothing else. User data is stored on private networks and is blocked from any public IPs. Ledn does not run credit checks on users. Take back your privacy with Ledn.

Ledn is a Bitcoin company. They do not have an ICO or "utility" token to force on users. With Ledn, users can earn interest on Bitcoin HODLed in a savings account, collateralize Bitcoin for loans in USD or stable coins, and double Bitcoin HODLings with B2X. Give your Bitcoin a better home with Ledn.