Page Summary
Crypto loans are a top trading strategy. Lending allows users to borrow and lend coins for a fee or interest rate. UAE traders use a DeFi lending dApp or a digital exchange application. This powerful trading strategy is popular because of the value added to a portfolio. This article discusses the best crypto loan platforms in the UAE.
List Of The Best providers For Crypto Loans:
- eToro – Best crypto loans provider in the UAE
- SALT – Cryptocurrency loan and borrowing platform
- BlockFi – One of the first providers of crypto loans
- Nexo – Top crypto lending platform for instant approvals
- Gemini – Lets people and institutions trade and store crypto assets
| RANK | BROKER | GENERAL | PLATFORM SCORE | BEST FOR | WEBSITE |
| #1 | eToro | Excellent social trading features | 4.9 / 5 | Best overall broker | Official website |
| #2 | SALT | For professional UAE traders | 4.9 / 5 | Cryptocurrency loan and borrowing platform | Official website |
| #3 | BlockFi | Lets traders take loans in USD against Bitcoins | 4 / 5 | One of the first providers of crypto loans | Official website |
| #4 | Nexo | For new and professional UAE traders. | 4.6 / 5 | Top crypto lending platform for instant approvals | Official website |
| #5 | Gemini | Offers an interest of up to 8.05% APY | 4.5 / 5 | Lets people and institutions trade and store crypto assets | Official website |
Best Providers For Crypto Loans In Overview:
01. 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.
02. 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.
03. 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.
04. 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.
05. 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 We Choose The Best Crypto Loans Providers
We choose the best providers of crypto loans in the UAE based on 93 data points. These include types, fees, and crypto lending interest rates. We concentrate on offering help to UAE traders at all levels. Our goal is to help traders make smart decisions with their money. This intention is why we explain both the upsides and downsides of crypto loan platforms.
Fees: A simple fee structure contributes to your crypto loan success. Some crypto loans come with a transparent fee structure; others don’t. Verify our in-depth reviews for more insights on UAE crypto lending providers and fees.
Account: Crypto lending platforms have different account types. Some have different loan types and interest rates; others don’t. Our in-depth account reviews offer insights on UAE account tiers and crypto loans.
Deposit and withdrawal: Funding your crypto account has to be straightforward. It takes longer with some providers than with others. Some UAE crypto loan platforms don’t have a minimum deposit. Read our platform reviews to discover more about the policies available with the best crypto lending platforms.
Product and market: UAE crypto loans have a different crypto market and asset coverage. It is best to select a provider with a comprehensive loan portfolio. Verify our in-depth reviews to read more about loans availability and UAE platforms.
Trading platform: A crypto lending trading platform with an intuitive design supports a good trading experience. Select a platform with a simple design and comprehensive portfolio. Crypto loans might be challenging for new UAE traders. Read our in-depth reviews for details on UAE crypto trading services.
Customer support: Reliable customer service is key to your online trading success. Reliable crypto loans providers offer email, live chat, and phone support.
Safety: A secure crypto loans platform has top-tier licenses. It uses the best safety protocols and follows strict rules. Our in-depth reviews offer details about safety and crypto loans in the United Arab Emirates.
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, commission-free crypto trading, 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 Choose The Best Crypto Loan For You?
To choose the best crypto loan for you, you need to pay close attention to different aspects. Some of the main criteria include interest rates, costs, and terms.
Interest Rates
Interest rates are an essential aspect of crypto loans. Choosing a crypto loan platform that pays a reasonable interest rate is best. Our in-depth platform reviews offer insights on loans and interest rates.
Fees
Crypto loans have specific requirements and fees. Many crypto assets have extra gees on different crypto lending platforms. You should check a provider’s fee structure before requesting a crypto loan.
Terms
Crypto loans terms are essential for your trading success. These include the duration of the loan and whether the loan is fixed or variable.
Deposit Requirements
The best crypto loan platform has a friendly deposit requirement. You should learn more about restrictions for a minimum deposit amount. Leading crypto lending platforms have a reasonable deposit limit.
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.
The Risks Of Crypto Loans
Crypto loans are risky. Digital assets are speculative and come with risks. Trading cryptos in the UAE is legal but remains risky. To avoid losing your assets, you should start with a minimum loan. Crypto lending is attractive but might be challenging for beginners. Read our in-depth crypto asset reviews for insights on crypto trading and loans.
Summary
Crypto loans are popular. UAE traders receive access to helpful crypto lending platforms and exchanges. We recommend it for advanced UAE traders. You need to know where and how to get a crypto loan. Using online brokers like eToro is the best approach for getting a crypto loan.
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. 68% 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.
Past performance is not an indication of future results. Trading history presented is less than 5 complete years and may not suffice as basis for investment decision.
Copy trading is a portfolio management service, provided by eToro (Europe) Ltd., which is authorised and regulated by the Cyprus Securities and Exchange Commission.
Cryptoasset investing is unregulated in some EU countries and the UK. No consumer protection. Your capital is at risk.
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.