![](\"https:\/\/nulltx.com\/wp-content\/uploads\/2018\/06\/shutterstock_782937235-696x464.jpg\")
<\/p>\n<\/p>\n
Let\u2019s take a moment and discuss what a Bitcoin loan is. Any regular borrower or lender will quickly understand this. You can borrow or lend BTC just like any other loan. However, there are terms and conditions that both parties sign to bind them to the agreement.<\/strong><\/p>\n You need to select a crypto platform to get a Bitcoin loan unless someone you know decides to give it to you directly. Most of the borrowers get loans on HODLing platforms funded by investors who earn interest in return.<\/span><\/p>\n It is not possible to just visit a crypto loan platform and request a loan; there is more you need to do. Any reputable platform will require you to open an account or download a BTC loan app. Then, you must deposit Bitcoin or any other acceptable crypto, which you will use as collateral to get a Bitcoin loan.<\/span><\/p>\n According to many Bitcoin borrowing platforms, the LTV ratio is an average of 80%. So, what does this mean? You can borrow up to 80% of your savings. And the good thing is that your savings will still be earning interest as per HODLing agreements you have with the platform. Some give up to 12% APY.<\/span><\/p>\n It is straightforward to apply for a Bitcoin loan on a preferred platform, say YouHodler, BlockFi, Hodlnaut, and many others. Most loan BTC instantly. So, it will only take a few minutes to get approved, and your loan will be sent to your account wallet for withdrawal.<\/span><\/p>\n You even will have the option to withdraw your loaned coins in other cryptos or fiat money. However, this depends on the available options on your preferred platform.<\/span><\/p>\nHow to Take out a Bitcoin Loan<\/b><\/h4>\n
Platforms Where You Can Get a Bitcoin Loan<\/b><\/h4>\n
\n
Conclusion<\/b><\/h4>\n