Lendasat

Lendasat – Overview

Selling Bitcoin to cover a cash need means giving up any upside if the price climbs afterward. Lendasat was built around that exact problem: it lets Bitcoin holders borrow against their coins instead of selling them, while lenders on the other side earn interest funding those loans. The team behind it isn’t new to Bitcoin infrastructure either, the same group built 10101, a Bitcoin and Lightning derivatives market, along with Ark, a Layer 2 scaling protocol.

What sets Lendasat apart from most lending platforms is that it never actually takes custody of your Bitcoin. When you sign up, the platform automatically generates a real, non-custodial wallet along with a seed phrase, and that seed phrase is the only way to recover access. Lendasat can’t see it, can’t store it, and can’t touch your funds without you.

So how does the collateral actually stay safe? Every loan runs through a 2-of-3 multisig escrow. The borrower holds one key, the lender holds another, and Lendasat holds a third purely for dispute resolution. Moving the Bitcoin requires two of those three signatures, which means neither the lender nor Lendasat can access the funds alone, and the borrower can’t withdraw them early either. It’s a structure built so no single party needs to be trusted.

Contracts on Lendasat are fixed-term from the moment they’re created. The LTV ratio, the APR, the loan duration, and the loan amount are all locked in at origination and none of them shift over the life of the loan. That gives borrowers a clear picture upfront: you know exactly what you owe and when it’s due, though repaying early still means paying the full term’s interest rather than a prorated amount.

LTV is where most of the risk sits, and Lendasat lays it out in stages rather than one hard cutoff. Loans typically start around 50% LTV, and go up to about 70% depending on the offer. As Bitcoin’s price moves, that ratio shifts too. Cross 80% and you’ll get a margin call by email. Hit 85% and a second, more urgent warning follows. At 90%, the lender is able to trigger liquidation, and depending on the situation, that liquidation can end up being partial rather than a full wipeout of the collateral. Borrowers can head this off at any point by adding more BTC to their position or paying down the loan early.

Fees are broken out clearly rather than bundled into a vague rate. There’s a 1.5% origination fee, charged once, either at repayment or at liquidation, and calculated against the loan principal. If liquidation does happen, a separate fee of up to 5% applies to the collateral value at that point. Extending a loan with the same lender past its maturity date costs an additional 0.5% renewal fee. On top of all that, Bitcoin network fees and blockchain gas fees for stablecoin transfers are unavoidable but aren’t something Lendasat charges itself, they’re simply passed through.

Loans on Lendasat run from one month up to twelve, and range anywhere from around $100 up to $100,000, paid out in USDT, USDC, fiat, or straight to a virtual card for instant spending. No KYC, no credit check, just Bitcoin locked as collateral and a lender willing to fund the terms.