Ledn Review

Ledn Review

Robert McDougall 

June 6, 2022

Cryptocurrency

What is Ledn?

Ledn is a crypto-focused platform that aims to provide a safe and secure environment to invest in and earn interest on digital currencies. Ledn gives users the option to protect their equity by investing in a stablecoin or take a little more risk with Bitcoin and earn more. Users can also obtain fiat loans by providing Bitcoin collateral to the platform.

Ledn was established in 2018 and is currently based in Ontario, Canada. It operates in over 100 countries around the globe, ensuring a big part of the world has access to the advantages and benefits of investing crypto on the platform. Ledn claims to offer market-competitive rates. It also provides security and privacy features, giving users full immunity and peace of mind when investing their assets. The platform also utilizes a relatively simple layout and a quick option to sign up. All you have to do to get started is enter a few details and verify your email address and phone number.

  • Web Address: www.ledn.io
  • Main Location: Toronto, Canada
  • Cryptocurrencies: BTC & USDC only
  • Fiat currencies: None
  • Deposit Methods: Cryptocurrency only
  • Deposit Fees: Free
  • Withdrawal Fees: Differs based on market conditions
  • Mobile App: Yes

My Overall Thoughts on Ledn

If you have some BTC or USDC lying around your crypto wallet and you want to put it to work, Ledn can be a great choice for you. The platform not only allows users to earn interest on their assets but has monthly payouts without locking user funds. Not only that but Ledn has also made borrowing quite easy—you can get Bitcoin-backed dollar loans from the platform without selling your assets.

The fast and easy swaps, beginner-friendly interface, tight security, blog and proof of reserves are just further evidence that Ledn can work for many traders. Of all these aspects, here are what I think are the absolute best about Ledn:

1) Earn interest on assets:  With a Ledn BTC or USDC savings account, users can earn a great deal of interest on their assets instead of keeping their funds idle in a crypto wallet. Ledn offers about a 5% interest rate on Bitcoin and a 7.5% interest rate on USDC, although the rates can vary. You can also withdraw compound interest monthly without any restriction.

2) Take out different types of loans:  There are two types of loans that you can get on Ledn. The first is a Bitcoin-backed dollar loan, and the other is a Bitcoin-backed Bitcoin loan where you can double your assets.

3) It is a privacy-centric platform:  Ledn is a fully secure, trusted and privacy-centric platform. It even provides its proof of reserves to further ensure that user assets are safe. Ledn uses several methods to protect user accounts. With security systems, the platform makes sure that there are no breaches or hacks.

But all these benefits do not change the fact that Ledn needs to introduce a few more assets and make its customer service better. These two things can be crucial to improving user experience.

Key Features and Advantages of Ledn

Ledn’s advantages benefit not only investors but also borrowers and traders. Ledn provides a professional interface and tools for seamless swapping between BTC and USDC. Not only that, but it offers perks like zero fees and easy adjustments, which enhance trader experience even more. In addition to all that, you can borrow a few assets on the platform or start earning a great amount of APY on them.

Ledn claims to keep everything transparent and simple. All user earnings are calculated daily and paid monthly. With Ledn’s insurance, security and protective measures, you can be sure that your investments are safe. Ledn has some more benefits that you might like to check out. Find out what they are below:

Negatives and Disadvantages of Ledn

Ledn infrastructure has some critical flaws that potential users should take into consideration before joining. Those negatives can affect your experience when investing, borrowing or trading. Take a quick look below to see what they are:

What Services Does Ledn Offer?

No doubt Ledn provides multiple services, but each of these is limited in its scope, whether it be investing, borrowing or swapping. This can be a great thing if you do not want to get tangled in hundreds of crypto assets with varying levels of risk.

One impressive thing about the platform is the security and insurances it offers. You can be sure that your funds are safe thanks to Ledn’s use of multiple encryptions, security layers, verifications, authentications and integrations. To understand each of Ledn’s services, take a look below at brief explanations of these and other services Ledn offers.

Earn up to 7.5% APY:  Ledn provides up to 7.5% APY on its Bitcoin and USDC savings accounts. Users can deposit either cryptocurrency (or both) into their Ledn account to claim the benefits. With this much APY, users can easily grow their portfolio every year, letting their idle assets earn them a good deal of money.

Many crypto savings accounts offer much less on stable assets and popular ones like Bitcoin. You can be on the safe side and still earn if you opt for a Ledn savings account.

BTC and USDC assets:  Ledn supports only two cryptocurrencies: Bitcoin and USDC. Bitcoin is, of course, the most popular crypto asset with the highest value, whereas USDC is a stable asset that holds the approximate value of $1.

Having both USDC and BTC on a single platform allows users to invest, borrow or trade both a stable asset and a volatile asset without having to acquaint themselves with hundreds of other crypto coins.

If you invest USDC you can protect your equity. If you borrow BTC, you will be taking a little risk, but it is the godfather of cryptocurrencies and is not going anywhere anytime soon.

Bitcoin-backed dollar loans:  Bitcoin-backed dollar loans are one of the fastest ways to take loans in the crypto industry. Just like the name suggests, users provide BTC as collateral and get dollar loans in return.

This benefit means people do not have to sell their Bitcoin holdings just to get a fiat loan. They can keep holding their Bitcoin and still get the loan they need for daily life. When the loan period is over and you have repaid what you owe, your Bitcoin will be available to you again.

After submitting a loan application on Ledn, it will only take two minutes to process it. Avoid the hassle of reaching out to a bank, filling out several forms and submitting countless documents by getting the loan from Ledn.

Double your Bitcoin holdings instantly:  If you have assets within your Ledn BTC savings account, you can double your holdings through Ledn’s Bitcoin-backed loans.

Ledn allows users to get the exact amount of their Bitcoin holdings as a loan that they can repay (with interest) whenever they want. With no specified period for repaying the loan, interest accumulates on a daily basis. Then you can use your borrowed BTC assets as you want. With access to these additional funds, you can invest and earn profit without having to sell your current crypto portfolio.

Efficient iOS and Android apps:  Ledn has an app for users who prefer to use their mobile devices over computers. The app is available for Android and iOS devices and can be easily downloaded from either device’s app store.

With the app, users can access their crypto portfolio wherever they are and use Ledn’s services right away. No matter the time or location, you can use the Ledn mobile app to trade, borrow or invest your holding on the platform.

Other exchanges with no mobile app restrict users to using the platform through computers or the web, which can be quite a hassle.

Fast and easy swaps:  Ledn users can swap Bitcoin for USDC and vice versa relatively quickly and easily. The trades at Ledn are instant and seamless. Ledn also does not charge any trading fee. This service is great because you can both avoid massive fees and save time. Many popular crypto exchanges charge a percentage on every swap, which not only becomes costly but makes small trades not worth the hassle.

Secure and privacy-centric exchange:  Privacy and security are two of the major aspects that Ledn focuses on for the betterment of its project and trust in the crypto community. Ledn claims to be privacy-centric and lets users control and manage their data and funds. The platform also follows the best security practices to ensure it is providing a safe environment to its users.

Users can trust an encrypted and protected crypto platform and freely use their assets with the best possible protection certified by professionals. They do not have to worry about losing their funds or having their personal information compromised, which could bring even further troubles. You can also implement several protective measures, like two-factor authentication, that further protect your integrity and assets.

Simple and fast design:  The platform has a really simple and fast design, making it relatively quicker for users to get started and explore features than with other platforms. Ledn provides a dedicated dashboard where users can manage their funds and access all the features individually. This benefits new crypto users, who can use the platform’s services without having to understand tons of complicated things. Even if you have no experience in the crypto industry, you will be able to easily use Ledn’s services, without watching tutorials or guides.

Available worldwide:  Ledn is not restricted to any particular jurisdiction, area or country. In fact, Ledn supports users from over 100 countries, meaning there is a high chance you will be able to use the platform without any hassles. However, Ledn restricts a few of its services from users from specific locations due to laws and regulations.

But if you have full access to the platform’s services, you will be able to invest, borrow, trade or double your assets in a single place, rather than managing your portfolio at different exchanges or platforms.

Ledn blog:  Due to the size and complexity of the crypto industry, Ledn has a blog through which users can learn about the crypto industry and market and keep themselves updated on the latest news. This is a convenient feature because you will not have to find third-party articles or videos to understand and know how to use Ledn’s services. You can also understand the core concepts within this field that could benefit you while investing, borrowing or trading.

Things I Don't Like About Ledn

Ledn might be a great pick for those who want to invest very limited resources, but that’s not the case for many investors. Check out below the things that I don’t really like about Ledn.

Only two crypto assets:  There are literally thousands of cryptocurrencies available on the internet. Some serve a particular purpose, some are meme coins and some are simply useless. But Ledn decided to bring only two to its platform. It might not have been the best decision.

This aspect limits investors’ choices quite harshly. If users do not own BTC or USDC, they simply cannot do anything on Ledn. You cannot buy these assets or exchange your current assets for them on the Ledn platform.

Slow customer support:  The customer support at Ledn is simply not up to current industry standards. Users cannot live chat with agents when they might need an instant solution. Instead, they have to use the old method of sending a message and waiting for hours to get a reply.

These old-school methods not only waste time but affect the investing experience and potential to earn on any platform. This is why Ledn will have to work quite a bit on its customer service.

Ledn Fees

Ledn Deposit Fee

Ledn supports crypto deposits on the platform only through crypto wallets. It is absolutely free to deposit on Ledn, no matter which asset you are depositing.

Ledn Crypto Withdrawal Fee

When withdrawing BTC, you pay the miner fee for the time it took to process the transaction.

When withdrawing USDC, you pay 35 USDC for each withdrawal, which also includes the miner fee of the Ethereum network.

Pros and Cons of Ledn

Pros
  • Earn up to 7.5% APY
  • Hassle-free borrowing
  • Double your BTC assets
  • Mobile app available
  • Fast and easy swaps
Cons
  • Only two assets are supported
  • Not the best customer support service

The Verdict

Conclusively, Ledn is great at what it offers. It is not a complete crypto exchange with a variety of assets available to trade or invest, but it offers reliable interest rates on the assets they do offer. Not only that but Ledn provides a fast and reliable way for users to get loans that are backed by Bitcoin.

Another aspect that makes Ledn a great pick is its focus on security and transparency. Nothing is hidden from the users. The integrated security ensures that user identities and equities are protected all the time. With the beginner-friendly design and Ledn blog, new users will also find the platform really simple to use. Ledn just needs to work on customer support and availability of assets, as the rest is near perfect.

If you are after a crypto savings account that offers more than just 2 assets, have a look at our list of the best places to earn crypto interest.

Frequently Asked Questions

Can you trust Ledn with your assets?

Ledn is a trusted and secure crypto platform that offers full protection and immunity to its users. Its protective measures and verifications further ensure the safety of users and their funds.

Is Ledn available in the US?

Yes, Ledn is available for users residing in the US. But some of the platform’s features are not available to several jurisdictions in the world.

Is Ledn the right platform to borrow money?

Ledn can be a great choice for borrowing assets due to its hassle-free process, low interest rates and Bitcoin-backed loans.

Marketplacefairness.org provides all its content for informational purposes only, and this should not be taken as financial advice to buy, trade or sell cryptocurrency or use any specific exchange. Please do not use this website as investment advice, financial advice or legal advice, and each individual's needs may vary from that of the author. This post includes affiliate links with our partners who may compensate us.

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