Ledger did not announce that it would lend Bitcoin holders money itself. On March 1, 2023, it announced that YouHodler, a separate lending provider, was available through Ledger Live’s Discover section. The launch described borrowing against crypto without selling it, but its advertised terms are historical and do not establish what is available today.
Who provided the loans in Ledger’s announcement?
YouHodler was the named loan provider in Ledger’s March 1, 2023 announcement. Ledger Live provided a route to the service; the announcement did not make Ledger the lender or establish that Ledger held the loan collateral. Ledger’s launch post and YouHodler’s announcement distributed through PR Newswire describe that partnership.
This consumer-facing integration is separate from Ledger Enterprise’s September 2026 announcement about Membrane Labs. That institutional announcement says Ledger does not lend or act as counterparty in that integration; it does not establish the terms or status of the 2023 YouHodler offering. Ledger Enterprise’s Membrane Labs announcement.
What did the 2023 offer say?
Ledger’s March 1, 2023 post advertised loans against more than 45 crypto assets, with proceeds in EUR, USD, CHF, GBP, or stablecoins, and a maximum loan-to-value ratio of 90%. These were claims in the launch announcement, not verified current YouHodler or Ledger Live terms. The post does not establish that the integration remains available in 2026, which assets or currencies are currently supported, or what rates, fees, and eligibility rules apply.
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The announcement outlined a Ledger Live workflow: connect a Ledger hardware wallet, open Discover, select YouHodler, choose collateral and a proceeds currency, then set loan parameters. That describes the announced route, not a guarantee that the same steps or service are available now. A Ledger device is not the lender, and the post does not establish that a hardware wallet is required for every current way to borrow.
How borrowing against Bitcoin works
A crypto-backed loan lets a borrower pledge Bitcoin or another eligible crypto asset as collateral and receive money or another crypto asset, often a stablecoin. The borrower does not sell the collateral when the loan starts, but still owes principal and interest. If Bitcoin’s price falls while the debt remains, the collateral may no longer provide enough protection for the lender.
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Loan-to-value, or LTV, is the loan amount divided by the collateral’s value. A higher starting LTV leaves less room for a price decline before the lender’s margin or liquidation rules may come into play. The starting LTV alone is not enough to assess risk: borrowers need the provider’s specific thresholds, warning process, and options for adding collateral or reducing the balance. Ledger’s educational overview explains the general borrowing model and advises researching the platform before committing: DeFi borrowing: how to get liquidity without selling crypto.
What to check before pledging Bitcoin
- Collateral custody and reuse: Find out who controls the BTC after it is pledged, whether the provider can lend or otherwise reuse it, and what protections apply if the provider fails. Using a Ledger hardware wallet does not mean pledged collateral remains under the borrower’s sole control; the 2023 announcement does not spell out its custody arrangement.
- Liquidation and margin rules: Check the trigger levels, how and when warnings are delivered, any liquidation fees, and whether you can add collateral or repay part of the loan to lower LTV. The launch announcement does not establish current YouHodler rules.
- Total borrowing cost: Review the interest rate and how interest accrues, fees, required payments, and the consequences of missing a payment. Compare the maturity date, early-repayment rules, renewal options, and what happens if the loan is not repaid on time.
- Eligibility: Confirm supported countries, identity checks, eligible collateral, and current availability directly with the provider. The 2023 announcement does not establish today’s regional eligibility.
- Tax treatment: Do not assume a crypto-backed loan is tax-free. Tax consequences depend on jurisdiction and circumstances; consult a qualified local tax professional.
How provider terms can differ
Terms from another lender illustrate why one provider’s figures should not be applied to another. Ledn’s Help Center says its loans are typically issued at 50% LTV, have a standard 12-month term, accrue interest daily, and have no prepayment penalty. Those are Ledn-specific terms, not terms for Ledger or YouHodler. See Ledn’s loan information and its Bitcoin-backed loan page.
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- Connectivity: USB-C cable connection only. No Bluetooth.Compatible with the Ledger Wallet crypto app, both desktop (Windows, macOS, Linux) and mobile (Android only). Not compatible with iOS.
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