Key Facts
CoinRabbit offers Bitcoin-backed loans with no KYC requirements, no minimum loan amount, and unlimited loan duration. Their platform features instant funding, 24/7 support, and accepts various cryptocurrencies as collateral with a standard 50% LTV ratio.
Pros
- No KYC required - anonymous borrowing
- No minimum loan amount - borrow as little as needed
- Unlimited loan duration - no fixed term
- Instant funding once collateral is confirmed
- 24/7 live chat support for immediate assistance
- Multiple cryptocurrencies accepted as collateral
- No monthly payments required (repay when you choose)
Cons
- Centralized custody - you don't control your keys
- No insurance coverage for deposited assets
- No public audit or proof of reserves
- 1-1.5% origination fee on loan amount
- Higher interest rates (10-16% APR)
- No dedicated mobile app (web platform only)
- Regulatory uncertainty with no-KYC approach
Detailed Review of CoinRabbit Bitcoin Loans
Platform Overview
CoinRabbit is a cryptocurrency lending platform focused on providing accessible, private loans with minimal barriers to entry. The service stands out for its no-KYC policy, absence of loan size minimums, and undefined loan duration, making it one of the most flexible options for Bitcoin-backed borrowing.
The platform operates internationally, though with ambiguous regulatory positioning. Rather than focusing on regulatory compliance in specific jurisdictions, CoinRabbit prioritizes privacy and flexibility for users seeking quick, anonymous access to liquidity without compromising their cryptocurrency holdings.
Key Features
- Zero KYC requirements - borrow without identity verification
- No account needed - just use unique deposit addresses
- Unlimited loan duration - keep the loan as long as you need
- No minimum amount - borrow even very small amounts
- No upper limit on loan size (subject to available collateral)
- Instant disbursement of loan funds (minutes after collateral deposit)
- Multiple cryptocurrency options for both collateral and loan funds
- 24/7 support via live chat and email
Security Considerations
CoinRabbit's security approach includes:
- Cold storage for collateral assets
- Temporary custody through Binance
- No login credentials (using unique deposit addresses instead)
- Optional KYC only if suspicious activity is detected
However, users should be aware of potential security concerns:
- No third-party insurance for stored assets
- No transparent proof of reserves or public audits
- Centralized custody model with limited transparency
- Limited information about internal security practices
Loan Terms and Process
CoinRabbit's loan process is designed for simplicity:
- Select stablecoin for loan (USDT, USDC, etc.)
- Deposit Bitcoin or other cryptocurrency as collateral
- Receive loan funds typically within minutes
- Keep the loan as long as needed (no term limit)
- Repay the loan plus interest at any time to retrieve collateral
Key terms include:
- 50% LTV ratio (standard)
- 10-16% APR (variable based on market conditions and duration)
- 1-1.5% origination fee
- Predetermined liquidation threshold (typically 80-85% LTV)
- No monthly payment requirements
Liquidation Policy
CoinRabbit implements a straightforward liquidation policy:
- Liquidation threshold is predetermined when taking the loan
- Typically occurs at around 80-85% LTV
- No liquidation penalty beyond covering the loan amount and interest
- Automatic liquidation if Bitcoin price falls below threshold
- With 50% initial LTV, approximately 45% price drop can be tolerated
The platform provides price alerts but places responsibility on borrowers to monitor collateral value and add funds if necessary to avoid liquidation.
Verdict: Is CoinRabbit Right for You?
CoinRabbit is particularly well-suited for:
- Privacy-focused users who prioritize anonymity
- Those needing very small loan amounts
- Borrowers wanting flexible, open-ended loan duration
- Users seeking immediate funding without lengthy approval processes
- People without formal identification documents
However, it may not be ideal for:
- Security-conscious users who prioritize insurance coverage
- Those who prefer transparent proof of reserves
- Users who want self-custody or multisig options
- People seeking the lowest interest rates
- Those who prefer mobile app access
Overall rating: 4.3/5 for privacy, flexibility, and accessibility