Page Summary
Crypto loans gained popularity in UAE as they allow users to borrow money against low-interest rates without needing to sell their investments or provide personal credit history. There are 28 crypto exchanges in UAE offering crypto loans with different conditions making it tough for borrowers to select the ideal option for their needs.
Reviews and comparisons of available crypto loan platforms and their service help traders select a provider with low-interest rates, flexible repayment options, instant approval (without credit history checks), and quick funding.
This guide compares and evaluates 28 crypto exchanges available in UAE to help users find the ideal platform for their needs. The best crypto loan platforms in UAE are listed below, followed by in-depth reviews, comparisons, and FAQs.
Best Crypto Loan Platforms in UAE
- eToro – Best For Beginners
- SALT – Top For Crypto Borrowing and Lending
- BlockFi – Best For Wide Range Of Supported Currencies
- Nexo – Ideal For Instant Approvals
- Gemini – Best For Low Interest Rates
Top Crypto Loan Platforms in UAE Reviewed
Exchanges with the best cryptocurrency loan platforms in UAE are reviewed below.
1. eToro: The Overall Best
eToro is the best crypto loans provider in the UAE. It offers access to the eToro Money Account where traders request a loan. Crypto loans require Ethereum or Bitcoin as security. The eToro Money Account links to your eToro brokerage account. This connection lets you trade assets, make fast withdrawals, and track your holdings. This account is an excellent service available with the eToro investment platform.
eToro is an attractive choice for UAE traders at all levels. It offers a virtual trading account to test its services. A demo account is an asset for traders who want to test different strategies. It uses live crypto market data and prices. eToro’s demo account is a valuable tool for learning more about crypto lending and strategies.
2. SALT: Cryptocurrency Loan and Borrowing Platform
SALT is a popular choice to get crypto loans in the UAE. It is a cryptocurrency loan and borrowing platform. SALT has a good reputation and offers secure services. We recommend SALT to professional UAE traders.
This provider supports many cryptos and stablecoins. The minimum loan deposit at SALT is $5,000. Traders choose its services because of the versatility of the loans. SALT offers both personal and business loans. Each comes with strengths and weaknesses depending on your needs and trading skills.
3. BlockFi: One of the First Providers of Crypto Loans
BlockFi is one of the first providers of crypto loans. It uses a unique technology that lets traders take loans in USD against Bitcoins. The main coins that BlockFi enables you to borrow are Bitcoin, Litecoin, Ethereum, and PAX Gold.
BlockFi has user-friendly platforms and fast payment rates. It requests a minimum loan amount of $10,000. The loan-to-value ratio is 50%. BlockFi doesn’t charge an inactivity fee, and its withdrawal fee is rate-based for specific crypto assets.
4. Nexo: Top Crypto Lending Platform for Instant Approvals
Nexo is a top crypto lending platform for instant approvals. It has a secure banking app that lets you lend and borrow with ease. Traders receive up to 12% interest on cryptos and fiat currencies. Nexo is a good fit for both new and professional UAE traders.
The Nexo crypto lending platform is intuitive and straightforward to use. It doesn’t charge origination costs or monthly fees. The crypto loans at Nexo receive approval via an automatic system. It has 40+ crypto coins for borrowing and a minimum loan amount of $50.
5. Gemini: Lets people and Institutions Trade and Store Crypto Assets
Gemini is a leading crypto exchange with access to crypto loans services. It lets people and institutions trade and store crypto assets. Gemini has many benefits, including online and offline storage.
This exchange lends cryptos to specific institutions and offers an interest of up to 8.05% APY. The Gemini Earn function offers daily interest for many cryptocurrencies. It has different loan periods, and it is a secure platform. We recommend it for advanced UAE investors searching for attractive crypto loans.
How To Select The Ideal Platform For Crypto Loans?
Criteria to choose the optimal platform for crypto loans in UAE are listed below.
- Loan-to-Value (LTV) Ratio: Exchanges with a higher LTV ratio should be preferred as the allow to get more loan for less collateral.
- Interest Rates: There are two types of interest rates: Fixed and Variable. Exchanges with low interest rates should be preferred.
- Range of cryptocurrencies supported as collateral: Exchanges with a wider range of crypto-coins supported as collateral need to be preferred.
- Repayment terms: Platforms have different repayment options. Services with the preferred repayment term need to be selected.
- Fees: There are two types of fees that may apply on crypto loans: origination fees and early repayment fees. Platforms with lower overall fees need to be preferred.
- Customer support: Professional and responsive customer service provides a better trading experience and increases chances for financial success. The following customer support features need to be considered: email, live chat, and phone support.
- Reputation: Choosing a reputable exchange increases traders safety and helps avoiding scams. Exchanges with high number of users, positive users feedback and non-hacked history record should be preferred.
Top Crypto Loan Platforms in UAE Compared
Key features of exchanges with the highest rated crypto loan platforms in UAE are compared in the table below.
| Broker | LTV Ratio | Interest Rates | Cryptocurrencies as Collateral | Repayment Terms | Fees | Customer Support | Number of Users (Approx.) |
|---|---|---|---|---|---|---|---|
| eToro | N/A | N/A | N/A | N/A | N/A | 24/7 Support | 20M+ |
| SALT | Up to 70% | 5.95-11.95%* | Multiple | Flexible | Yes* | 24/7 Support | Unknown |
| BlockFi | Up to 50% | 4.5-9.75%* | 4 | Flexible | No | 24/7 Support | Unknown |
| Nexo | Up to 50% | From 5.9%* | 20+ | Flexible | No | 24/7 Support | 1M+ |
| Gemini | N/A | N/A | N/A | N/A | N/A | Business hours | Unknown |
How To Get A Crypto Loan In UAE
To get a crypto loan in UAE, you need to use secure platforms like eToro, SALT, BlockFi, Nexo, and Gemini. eToro is a secure online broker with excellent social trading and crypto loan features. SALT is a professional provider of crypto loans with fast transaction rates. Gemini is a top choice for experienced traders looking for an app with access to crypto lending services.
Crypto lending is available to all UAE traders. We recommend you use eToro to get a crypto loan in the United Arab Emirates. It is the top platform with excellent social and copy trading tools. There are four steps to get a crypto loan with eToro:
- Create An eToro Account: Access the main website of eToro and register a new account.
- Submit A Valid ID: You have to start the registration process next. A valid I.D., like a passport or driver’s license, is necessary for account verification.
- Fund Your Account: After account verification, the next step is to fund your account. UAE investors fund their accounts with credit or debit cards, e-wallets, or bank transfers.
- Buy cryptos: Each digital asset has a symbol. Search for the ticker of your coin, and click it. Start buying and selling crypto assets.
- Access the eToro Money Account: If you want to request a crypto loan, you need Ethereum or Bitcoin as security. The eToro Money Account is straightforward and available in your brokerage account. Click on it and choose the loan type you need.
Where To Get A Crypto Loan In The UAE?
United Arab Emirates traders use crypto trading platforms to get a crypto loan. The top platforms we recommend are below.
Crypto Loans At eToro
eToro is the best crypto loan provider in the UAE. It offers access to the eToro Money Account where traders request a loan. Crypto loans require Ethereum or Bitcoin as security. The eToro Money Account links to your eToro brokerage account. This connection lets you trade assets, make fast withdrawals, and track your holdings. This account is an excellent service available with the eToro investment platform.
eToro is an attractive choice for UAE traders at all levels. It offers a virtual trading account to test its services. A demo account is an asset for traders who want to test different strategies. It uses live crypto market data and prices. eToro’s demo account is a valuable tool for learning more about crypto lending and strategies.
Pros: Many loan periods available, access to a VISA debit card, access to many popular cryptos and fiat currency, access to trading CFDs and margin and futures trading, licenses from the FCA, valuable mobile app and crypto lending platform, available in many countries, demo trading account
Cons: Expensive fees, it has a high spread, it lacks smaller cryptos and stocks
Crypto Loans At SALT
SALT is a popular choice to get crypto loans in the UAE. It is a cryptocurrency loan and borrowing platform. SALT has a good reputation and offers secure services. We recommend SALT to professional UAE traders.
This provider supports many cryptos and stablecoins. The minimum loan deposit at SALT is $5,000. Traders choose its services because of the versatility of the loans. SALT offers both personal and business loans. Each comes with strengths and weaknesses depending on your needs and trading skills.
Pros: Loans have insurance, no credit checks, fast approval process, access to different coins as collateral
Cons: Platforms might be challenging for new traders, and repayment terms aren’t transparent
Crypto Loans At BlockFi
BlockFi is one of the first providers of crypto loans. It uses a unique technology that lets traders take loans in USD against Bitcoins. The main coins that BlockFi enables you to borrow are Bitcoin, Litecoin, Ethereum, and PAX Gold.
BlockFi has user-friendly platforms and fast payment rates. It requests a minimum loan amount of $10,000. The loan-to-value ratio is 50%. BlockFi doesn’t charge an inactivity fee, and its withdrawal fee is rate-based for specific crypto assets.
Pros: 0% commission, no deposit or withdrawal fees, no inactivity fee, highly regulated in the U.S.
Cons: It doesn’t offer CFD trading, it doesn’t provide custodial accounts
Crypto Loans At Nexo
Nexo is a top crypto lending platform for instant approvals. It has a secure banking app that lets you lend and borrow with ease. Traders receive up to 12% interest on cryptos and fiat currencies. Nexo is a good fit for both new and professional UAE traders.
The Nexo crypto lending platform is intuitive and straightforward to use. It doesn’t charge origination costs or monthly fees. The crypto loans at Nexo receive approval via an automatic system. It has 40+ crypto coins for borrowing and a minimum loan amount of $50.
Pros: Many loan types and periods available, flexible crypto lending platform, access to many coins to borrow, low minimum loan amount
Cons: variable LTV rations, high-interest rate
Crypto Loans At Gemini
Gemini is a leading crypto exchange with access to crypto loan services. It lets people and institutions trade and store crypto assets. Gemini has many benefits, including online and offline storage.
This exchange lends cryptos to specific institutions and offers an interest of up to 8.05% APY. The Gemini Earn function offers daily interest for many cryptocurrencies. It has different loan periods, and it is a secure platform. We recommend it for advanced UAE investors searching for attractive crypto loans.
Pros: Access to many crypto lending apps, low fees for daily auctions, low fees for liquidities, many crypto loans available
Cons: It has professional crypto lending platforms challenging for beginners, it has limited customer service
What Is A Crypto Loan?
A crypto loan is a financial product backed by crypto coins. It functions like a standard loan, referring to borrowing assets from an institution. The difference is that loaning organizations use crypto assets as collateral in exchange for liquidity in fiat money.
If you want to get a crypto loan, you need a professional platform to support your trading style. Online brokers and exchanges offer useful crypto lending platforms for UAE traders at all levels. Read our in-depth crypto trading reviews for details on crypto lending and platforms in the UAE.
Which Are The Types Of Crypto Loans?
There are many types of crypto loans available in 2023. These include custodial and non-custodial loans.
Custodial Loans
Custodial loans are a loan achieved through a centralized finance system (CeFi). A loan company or crypto exchange acts as a custodial entity. The custodial entity has control over cryptos and private keys. Custodial crypto loans are available with most crypto lenders for cryptos and fiat currencies.
Non-custodial Loans
Non-custodial loans are an alternative to centralized loans. Decentralized finance (DeFi) providers offer this type of loan. Non-custodial loans use smart contracts. Traders have possession of their private keys, except in one case. If a trader doesn’t meet loan obligations, then he will end up forfeiting the private keys to his wallet.
How To Qualify For A Crypto Loan?
To qualify for a crypto loan, you need to consider three main aspects. Here’s how to request a crypto loan:
- Collateral: The first step is to gather your materials. It helps you decide how much you can borrow on most platforms. You should avoid using your entire crypto portfolio as crypto loan collateral. It is best to save some crypto assets in case of a margin call.
- Platform: After you have your portfolio, you need to choose a lender. It is best to select a trustworthy crypto lending platform with transparent services.
- Loan: After you select a crypto lending platform and agree to the terms, the next step is to get the loan.
Conclusion
Borrowing agains cryptocurrency assets is popular among investors in UAE as it offers quick loan approvals against low-interest rates and quick payouts. However, with the various platforms, potential borrowers must evaluate and compare their conditions to choose the ideal option for their needs.
In this guide, we have worked hard to help reader make an informed decision by comparing and reviewing the services of different providers. Our analysis results in a list of the best crypto loan platforms in UAE, wrapped up in the table below.
| RANK | BROKER | PLATFORM SCORE | BEST FOR | WEBSITE |
| #1 | eToro | 4.9 / 5 | Overall | Official website |
| #2 | SALT | 4.9 / 5 | Borrowing and lending | Official website |
| #3 | BlockFi | 4 / 5 | Wide range of supported currencies | Official website |
| #4 | Nexo | 4.6 / 5 | Instant approvals | Official website |
| #5 | Gemini | 4.5 / 5 | Low interest rates | Official website |
FAQ
Is A Crypto Loan Safe?
Crypto loans are risky. Getting a crypto loan in the UAE is legal and safe. Using an exchange platform or broker with top-tier licenses from a foreign authority is best. Top licenses for digital platforms are from the FCA, ASIC, and CySEC.
How Much Can You Borrow From A Crypto Loan?
Borrowing limits for a crypto loan vary. Each loan provider has its limitations and requirements. You should check the crypto loan requirements available with the provider you choose.
Which Are The Advantages Of Crypto Loans?
Crypto loans have many advantages. Some of these include:
– Low-interest rates
– Ownership
– No credit check
– The loan amount depends on portfolio value
– Quick funding solutions
Which Are The Risks Of Crypto Loans?
Crypto loans have risks, too. Some of the main aspects to consider include:
– Borrowing minimum might get high
– The repayment period is short
– The margin call is a real threat
What Is Margin Trading?
Margin trading with digital assets lets traders borrow fiat money against their crypto funds to purchase more crypto for trading on an exchange platform. UAE investors leverage their cryptos or money by borrowing funds to increase their trading power. Some platforms request interest on the amount borrowed; others don’t.
Margin trading is either short or long. Investors speculate, hedge, or avoid keeping their funds on an exchange. Margin trading is available with leading UAE exchanges, including Binance.
Disclaimer
eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 51% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money
This communication is intended for information and educational purposes only and should not be considered investment advice or investment recommendation. Past performance is not an indication of future results.
Copy Trading does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk.
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more
eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.
Braden Chase is an investor, trading specialist, and former research specialist for Forex.com who helps aspiring investors develop the confidence and habits they need to make an income from the market. Braden has served as a registered commodity futures representative for domestic and internationally-regulated brokerages and has also spoken & moderated numerous forex and finance industry panels across the globe.