The category has matured fast, and not every lender is built the same. Four things separate a serious platform from a risky one — and they're exactly what you should compare when shopping for the best crypto-backed loan:
Fixed vs. variable rates. Some lenders quote a low teaser rate that floats with the market. Figure's crypto-backed loan carries a fixed rate* for the life of the loan, so your payment doesn't move when the market does.
Regulation and licensing. The CeFi lender collapses of 2022 taught the market a hard lesson: "crypto lender" and "licensed lender" are not the same thing. —a materially different risk profile than an unregulated offshore platform holding your coins.
Speed without a credit drag. Figure funds same-day and requires no credit score. Approval is based on your collateral, not your FICO.
Downside protection. Crypto is volatile, and a sharp price drop can trigger liquidation. Figure offers optional Liquidation Protection** (available in select states) that defers price-based liquidation for the loan term—so a temporary dip doesn't force a sale at the worst possible moment.
Rate matters, but it's the last thing that protects you when volatility hits. The lender's licensing and its liquidation terms** are what actually stand between you and a forced sale. So compare all four: maximum loan-to-value, fixed vs. variable rate, regulatory standing, and what happens to your collateral if the market moves against you.
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This site is not authorized by the New York State Department of Financial Services. No mortgage solicitation activity or loan applications for properties located in the State of New York can be facilitated through this site.
Crypto-Backed Loan Availability (Only in select jurisdictions):
Crypto loans are offered to U.S. borrowers by Figure Lending LLC. This product is not available to U.S. residents of DC, ID, IL, KY, MD, MS, SD, TX, VT, or VA.
Crypto loans are offered through Figure Markets Credit LLC to residents of the state of New York and to international customers except in the following jurisdictions: Crimea (Ukraine), Donetsk (Ukraine), Luhansk (Ukraine), Afghanistan, Albania, Belarus, Central African Republic, Congo (the Democratic Republic), Cuba, Ethiopia, Haiti, Iran (Islamic Republic of), Iraq, Lebanon, Libya, Mali, Myanmar (Burma), Nicaragua, Nigeria, North Korea (Democratic People's Republic of), Pakistan, Palestine (State of), Russia, Somalia, South Sudan, Sudan, Syria, Ukraine, Venezuela, Yemen, or Zimbabwe.
*Maximum APR: 12.62% APR (APR includes interest plus applicable fees such as the 1% origination fee). Available interest rates for Figure's Crypto-Backed Loan are 8.91% (9.999% APR) at 50% LTV or 11.50% (12.62% APR) up to 75%. Repayment period is 12 months.
Representative Example (Total Cost): As an example, a borrower receives a Crypto Backed Loan at 50% LTV of $10,000 for a term of 12 months, with an interest rate of 8.91% and a 1% origination fee of $100, for an APR of 9.999%. In this example, the borrower will receive $10,000 and will make 12 monthly payments of $74.25. Rates will be higher for applications secured by assets with a higher LTV ratio. The Figure Crypto-Backed Loan has a 12 month interest-only repayment term and allows for a maximum initial LTV ratio of 75%. Interest rates change frequently so your exact interest rate will depend on the date you apply and may depend on many factors such as LTV ratio.
Crypto borrowing is generally non-taxable, but liquidation triggers an IRS taxable sale. Not tax advice; consult a CPA.
Paid endorsement by Figure Technology Solutions, Inc. The information contained herein is not, and should not be construed as, an offer to sell or the solicitation of an offer to buy any securities. Consult a financial advisor before making any decisions.
