Ledn Reviews 1,044

Needed a specific document for my loan and ledn got it to me within 4 hours. Great service, very safe to hold bitcoin with them and they do their best to serve their customers well.

The efficiency of the loan process is unmatched and the simplicity of the product makes it very straightforward to use. Can't recommend Ledn enough!

Ledn has been a easy and simple way to borrow and access my funds. I would recommend Ledn to my Family and friends with out hisatation.

Funding is fast,support is very helpful and quick.

Liquidated loan, lost BTC. Overseas grandmother, I learned and adopted early after divorce, used house sale to buy in 2017. I am a BTC believer but there aren't many people in my situation to chat with, and even though I knew "not your keys, not your BTC", I trusted LEDN due to their policy of no rehypothecation. I did not realize that the biggest risk is their high LTV entry level at 50%. The moment you sign a loan, you are stuck and there is no partial liquidation, and refinancing requires more BTC. The problem is you keep throwing in liquidity to hedge and eventually you get liquidated anyway. The loan ONLY works when the market continues upward, and when you get in at the low point of the market. You get locked into a time prison, and there is no way out. If BTC drops like stone, you get liquidated. I never thought BTC would drop 50% but of course it does. So, LEDN acts like a bank - and they manage the industry the way the traditional banks manage - a loan is a good way to lose your principal. As an individual investor who is learning about how asset managers make their money, I was not an ideal customer for LEDN loans. I think this platform is for knowledgeable investors who don't live off their BTC gains, like I do. I would have benefitted from a few "scenarios" and education, since this is such a new market. I have been a lucky BTC buyer since 2017: now I believe BTC industry on LEDN platform is similar to the traditional financial industry. Individual BTC owners like me, face a very large risk. Customer support is hands off, really just about sending warnings and on the site you can find short videos on "how it works." I would have benefitted from a community chat or more extensive Help page but then, LEDN might depend on loan liquidation and inexperienced people like me are part of the plan. Experience reveals what is not disclosed initially and now I know.

A main attraction of Digital Currency is speed but their process time is out of sync with that idea.
Shouldn’t AI be helping move things along faster as well?

I had the pleasure to be a customer of Ledn from 3 Years, and I would like to thank you to the team of Ledn for the great service and excellent and quickly support , especially to Maurice🙏
You are doing a great job job guys, it is a gift meeting you ...

Loan process was fine initially. However when I paid back the loan they confirmed they had recieved my funds but did not settle the loan as my name was not on the bank transfer?

Never have I experienced this before having sent money globally many times.

If your happy losing money go for them, if not I would suggest avoiding.

If this is really what you want to do, it is everything it promises it is. A little slow on sending and receiving funds.. It matters when you’re in a pinch. Like right now I’m 2% away from liquidation, waiting for my wire to hit to pay this god forsaken loan off. Since initiating the transfer btc has gone from 76 to 68k. Think long and hard if you really want to do this. I never will touch another btc backed loan again after this experience. It wasn’t bad on ledn… it’s just a bad idea. Stop what your doing and ask yourself if you could live with getting liquidated… cuz it’s a real possibility. Just remember, like myself and many others.. this will likely be your experience as well, If not than moments of extreme stress. Oh.. and Not being able to repay the loan in btc in the USA is really annoying.. Thats gottta go.

Pro tip.. if you’re still going thru with this and you can afford it, split the amount you need into 2 loans. Why? Because you have to make a full repayment. If you borrow 100k, take it in 2 50k loans. This way if things go south you could atleast cover one. That’s what I did and am very happy with my choice

Wouldn’t use Ledn again. Btc Exchange price was 107410$ and they locked the b2x loan on 110560$ not informing me on it in any part of the process earning themselves another 3% on top of 12%. E-mails answers are like bots and their terms are sketchy make sure you read everything.

Claims to be a Canadian company, has offices in Toronto, but its legal entity is "Ledn Cayman SEZC Inc. (George Town, Grand Cayman)

Ledn's sending bank is NOT in Canada: routing 026073150, SWIFT CMFGUS33. this doesn't play well with Canadian Regulators, Banks, Credit Unions. i tried 4 times to transfer money and would take 4-5 days as they 'investigated' why the money was rejected.

It takes 7 business days to withdraw collateral, and they require another KYC round to withdraw.

Take care if borrowing from Canada because you may have no legal recourse except contractual. the offshore bank does everything to protect Ledn, but puts the borrower at a tremendous disadvantage.

I took a small loan to test them out, but based on its friction with domestic banks I can't use Ledn for anything big like a car loan or a mortgage. Look elsewhere for serious amounts.

Rekomend !!!

I really didn't want to leave this review but i feel i have to. I have 2 loans with Ledn. The first went through pretty smoothly, the second not so smoothly and it took days basically, but the main issue is that when on holiday recently and getting very close to a margin call, i could not get logged into my account. I was back and forward with emails and then told to arrange a time to log in which i did and they were nowhere to be found. Never got logged in that day, or the next, it was a shambles. After god only knows how many emails, i'm still not logged in. Now i am home i STILL can't get logged into my account. I never got liquidated, but i would have been as there was no chance i was getting logged in to top up. The fact it's been about a week and i'm still not in has put me off ever borrowing from them again. I would have been liquidated and there was no meaningful help in what should have been a VERY simple thing to resolve. Not good and needs drastic improvement.

Ledn is great. The platform offers several strong financial products for Bitcoin holders. You can earn interest on your USD or borrow at fair rates against your BTC. Discovered it through the sMiles app.

I opened an account with Ledn in order to get a bitcoin backed loan. I funded my account with bitcoin only to find out that personal loans are not permitted where I live. No where was this made apparent until I started applying. This should be made known before the account is even opened.

Good afternoon Ledn Team,

Daniel has been very helpful, and everything is now clear! I would like to thank Ledn — and especially Daniel — for the excellent support.

Kind regards,
Edwin

Daniel and team at LEDN are amazing, always trying to figure out how to help. The process is easy and clear. Highly recommend them.

Great service. Been using the B2X service and works great.

Excellent service, never sell your Bitcoin. very easy and very happy.

The kind and professional service of their email agents is heartwarming and reassuring to say the least, where banks fail to understand compassion these guys lead by example. I warmly recommend you try out their service! 💪🧡