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Bitcoin loans in Texas - availability, safety, and cash-out tradeoffs
9 min read
Texas decision
Start with availability, then decide whether the remaining tradeoff still works.
Texas removes some options and keeps others alive. The right next step is not a generic lender list; it is a Texas-available shortlist with custody, fees, and liquidation still visible.
Available in TX
5 tracked options remain in scope.
Excluded
2 notable option is not available.
Evidence
Why trust this view
Verification
Last checked
June 21, 2026
State availability is tied to the current lender records.
Coverage
5/7 available
The page separates Texas availability from safety and price.
Best next step
Compare with Texas selected
Use compare after the state screen removes unavailable providers.
Boundary
Verify before applying
Provider availability and state restrictions can change.
Texas has one of the largest BTC holder bases in the US, but the useful question is not which lender wins in Texas. It is which loan workflow still fits once you account for Figure's exclusion, custody model, fee stack, liquidation buffer, and whether you need USD quickly or care more about key control.
Of the 7 platforms this guide compares, 5 serve Texas residents and 2do not. This page is a Texas-specific research map for the mainstream options borrowers ask about most, plus Figure as the notable exclusion. That exclusion matters because it removes one of the clearest sub-10% fixed-rate options from your shortlist. But as we'll show, the real story is more nuanced — Figure's 8.91% becomes 9.999% APR after fees, and the remaining Texas-available platforms vary materially on custody, reserve transparency, and liquidation terms.
Texas BTC lending snapshot
Data checked June 21, 2026against each platform's restricted-states list. Use this table to separate Texas availability, custody model, and rate range before you treat any single provider as the answer.
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| Platform | Available in TX | Safety Score | APR Range | Max LTV | Custody |
|---|---|---|---|---|---|
| Unchained | Yes | 9.0/10 | quote-check eff. | 50% | Multi-sig (2-of-3) |
| Ledn | Yes | 7.4/10 | 9.25–11.49% | 50% | Custodial (BitGo) |
| Arch Lending | Yes | 7.0/10 | 7.25–10.49% | 60% | Custodial (Anchorage) |
| Nexo | Yes | 5.3/10 | quote-dependent* | 50% | Custodial |
| YouHodler | Yes | 4.0/10 | 10.99–19.02%* | 50–loan-form LTV | Custodial |
| Lava | Yes | 3.4/10 | 6.5–7.5% | 50% | Custody unresolved |
| Figure | No | 7.1/10 | — | — | Excluded (TX) |
*Nexo's public from-rate requires a live account quote. Actual pricing depends on loyalty tier, collateral mix, jurisdiction, and account terms. YouHodler's tracked BTC product is 30-day only and now uses a daily-fee ladder from ~10.99% at loan-form LTV to ~19.02% at 50% LTV.
What Figure's Texas exclusion actually changes
Figure excludes Texas plus 9 other states in our current dataset: DC, ID, IL, KY, MD, MS, SD, VT, and VA. This isn't specific anti-Texas regulation — it's a state-by-state licensing decision. Figure's crypto-backed loans require specific state-level lending licenses, and they haven't obtained (or chose not to pursue) licensing in those jurisdictions.
Figure's absence matters because it removes one of the clearest sub-10% fixed-rate options from the Texas shortlist. Figure advertises 8.91% interest, which would make it one of the clearest sub-10% fixed-rate options in this Texas comparison set. But there's an important counterpoint: Figure's 8.91% interest becomes 9.999% APR after fees, and borrowers still need to evaluate custodial/MPC collateral, no published reserve reporting, and agreement-specific liquidation terms. Their 7.1/10 safety score reflects that updated mix.
Bottom line: Even if Figure were available in Texas, the lesson holds. The cheapest rate isn't always the clearest risk-adjusted choice. Compare the all-in APR against custody, reserves, and liquidation terms before choosing.
Texas borrower starting points by constraint
Texas borrowers have 5 mainstream options in the comparison set below. These are starting research paths, not universal winners.
Safest custody-first starting point: Unchained (9.0/10 safety score)
Unchained has the highest safety score in our tracked dataset. Collaborative multi-sig means you hold 2 of 3 keys — Unchained can never lock you out, even if they go bankrupt. NMLS licensed (ID: 2656661), no rehypothecation, 24-hour grace period before liquidation, and a clean record since 2016 (100,000+ BTC in custody, $1B+ originated). The tradeoff: a $150K minimum loan and a ~14.2% effective APR (12% stated interest + 2% origination + $250/year vault fee; verify your live quote, since Unchained's public pages currently conflict on APR). Start here if key control matters more than the lowest price.
Lower-cost large-loan starting point: Ledn (9.25% at $2M+ tier)
Ledn's tiered rate structure rewards larger borrowers: 11.49% for under $250K, 10.99% for $250K+, 10.49% for $500K+, 9.99% for $1M+, and 9.25% for $2M+. No origination fee. BitGo custodial custody with Open Book reporting. $10B+ funded since 2018. Median funding: 9.7 hours. Safety score: 7.4/10. Start here if you want a cleaner mainstream fee stack for a larger loan and do not need multi-sig custody.
Higher-LTV line-of-credit starting point: Arch Lending (60% LTV)
Arch gives Texas borrowers a 60% LTV revolving line — higher than the 50% ceiling used by most mainstream Texas options we track. YouHodler can push higher on a short-term 30-day daily-fee ladder (loan-form LTV), but that is a very different product with a much tighter liquidation buffer. Arch's extra 10% versus the mainstream 50% lenders matters when you need more capital efficiency without stepping into that ultra-short-term structure. Rates run a published 7.25–10.49% APR ladder by loan size (from 7.25% at the $5M+ tier; a typical sub-$250K loan is 10.49% APR), with a tiered 0.49–1.49% origination fee. Anchorage Digital custody (federally chartered bank). No rehypothecation. Line of credit structure lets you draw and repay flexibly. Safety score: 7.0/10. Start here if you need more borrowing capacity and accept the tighter margin-call buffer.
Clearer mainstream small-loan starting point ($500+): Ledn
Ledn and Figure both offer $500 minimums, but Figure doesn't serve Texas. That makes Ledn the clearest mainstream small-loan starting point at 11.49% APR (its sub-$250K tier) with no origination fee. Nexo offers $100 minimums but its tracked BTC line is quote-dependent on account status, collateral mix, term, and token tier. Lava starts at $100 with 6.5% APR but carries smart contract risk.
BTC-first no-KYC DeFi starting point: Lava (6.5% APR)
Lava is the most direct BTC-first no-KYC option available to Texas borrowers, though its custody model is unresolved (reportedly custodial as of Nov 2025). Aave and Maker also skip KYC, but they use WBTC-based DeFi workflows rather than a direct BTC lending flow. Lava still offers 6.5–7.5% APR, funded in seconds via on-chain settlement, and has no tracked US-state exclusions in our dataset. The catch: 2% capital charge, an unresolved custody model, smart-contract/protocol risk, a short track record (founded 2023), and a 3.4/10 safety score (pending verification). Start here only if you want the BTC-first no-KYC path and are comfortable with the custody uncertainty.
What a $50K BTC loan in Texas actually costs
Here's what a $50,000 BTC-backed loan actually costs on each Texas-available platform over 12 months. We include all fees — not just the advertised APR.
| Platform | Stated APR | Origination Fee | Other Fees | Total Year 1 Cost* |
|---|---|---|---|---|
| Lava | 7.5% | None | 2% capital charge | ~$5,750 |
| Ledn | 11.49% | None | None | $5,745 |
| Arch Lending | 10.49% | 1.49% ($745) | None | $5,245 |
| Nexo | Live quote | None | None | Varies |
| Unchained | 12% | 2% ($1,000) | $250 vault fee | ~$7,250 |
*Year 1 cost includes interest + all upfront fees where public fixed-rate inputs are available. Nexo requires a live quote, so its year-one cost is not shown as a fixed estimate here. Unchained minimum is $150K so this is extrapolated for comparison. YouHodler excluded due to complex tiered LTV structure. Lava includes 2% capital charge on top of 7.5% interest.
Surprise finding:Arch's "from 7.25%" floor is its $5M+ tier, but even a $50K loan lands at 10.49% APR — and because Arch's 1.49% origination fee is already baked into that APR, the all-in Year 1 cost is ~$5,245, genuinely undercutting Ledn's 11.49% / $5,745 by about $500. The old "Arch's headline is a teaser, real rates are far higher" story no longer holds. Always compare all-in APR, not headline rates.
Texas-Specific Considerations for BTC Borrowers
Texas doesn't have the BitLicense headache that New York borrowers face, but there are still state-specific factors to keep in mind:
- No state-level crypto lending license required.Texas has taken a relatively hands-off approach to crypto regulation compared to NY. There's no Texas equivalent of the BitLicense, which is why most platforms serve the state.
- Figure is the notable exception. Their exclusion of TX (along with DC, ID, IL, KY, MD, MS, SD, VT, VA) is a licensing decision, not a regulatory prohibition. They may add Texas in the future — we track this in our monthly rate roundup.
- Texas has no state income tax.This makes BTC-backed loans particularly attractive in Texas — the interest you pay on the loan isn't offset by state tax savings, but the capital gains you avoid by borrowing (instead of selling) are also free from state tax. You're avoiding just federal capital gains (15–20% + 3.8% NIIT), which on a $50K sale could mean $7,500–$11,900 in avoided federal taxes.
- Texas homestead exemption.Texas has strong debtor protections. If your BTC-backed loan goes sideways and you face a margin call or liquidation, the lender can only go after the collateral — not your home or other assets. This isn't unique to crypto loans, but it's a meaningful protection in a state with historically high property values.
- Mining income as repayment.Texas is a hub for Bitcoin mining (particularly West Texas with its abundant renewable energy). If you're a miner, a BTC-backed loan can be a way to monetize your stack without selling mined coins. Arch's line of credit structure is particularly well-suited here — draw when you need operating capital, repay when blocks come in.
How Texas borrowers can research and execute a loan
- Choose the workflow that fits your constraint. Use the snapshot and starting-point section above to decide whether custody, cost, LTV, or no-KYC access is the real first filter.
- Complete KYC (if required). All centralized Texas options require identity verification. Lava is the BTC-first no-KYC exception here, while Aave and Maker also skip KYC but use WBTC-based DeFi workflows instead of the direct BTC flow covered in this guide. Have ready:
- Government-issued photo ID (Texas driver's license works)
- Proof of address (utility bill, bank statement)
- SSN or ITIN
- Transfer BTC collateral. Send your Bitcoin to the platform's custody address. For Unchained, you'll set up a collaborative multi-sig vault — this takes longer (3–5 days) but gives you key control. For Ledn/Arch, BitGo/Anchorage holds custody. For Lava, custody is unresolved — it marketed a self-custody smart contract, but reporting (Bitcoin Magazine, Nov 2025) indicates a move to custodial cold storage, so do not assume you keep your keys.
- Review the full fee schedule. Don't just look at the APR. Check origination fees (Arch: tiered 0.49–1.49%), vault fees (Unchained: $250/year), capital charges (Lava: 2%), and early repayment terms. Our What Borrowers Actually Pay guide has a full breakdown.
- Receive funds. Funding speed varies among Texas-available options: Lava (seconds), Nexo (same day), Ledn (~9.7 hours), Arch (1–3 days), Unchained (3–5 days).
Liquidation Risk: How Each Platform Handles a BTC Drop in Texas
Texas weather is unpredictable. BTC price action is worse. If you borrow at 50% LTV and Bitcoin drops, here's when each platform triggers a margin call and liquidation:
| Platform | Start LTV | Margin Call | Liquidation | BTC Drop to Margin Call | Grace Period |
|---|---|---|---|---|---|
| Unchained | 50% | 70% | 85% | 28.6% | 24 hours |
| Ledn | 50% | 70% | 80% | 28.6% | Not specified |
| Arch | 60% | 70% | 80% | 14.3% | Not publicly specified |
| Nexo | 50% | 70% | 83.33% | 28.6% | No published grace window |
| Lava | 50% | In-app | In-app | In-app | In-app (verify) |
BTC drop to margin call calculated as: 1 − (starting LTV ÷ margin call LTV). Arch starts at 60% LTV (not 50%), so margin call hits after a smaller 14.3% drop. Lava's exact margin-call and liquidation thresholds are shown in-app before each draw rather than published, so verify them in the app before borrowing. YouHodler is excluded here because its loan-form LTV tier liquidates after roughly a 1.5% BTC drop, and even the 90% tier only gives about a 5% buffer.
Key insight: Arch's 60% LTV gives you more borrowing power but less buffer — margin call after a 14.3% drop vs. 28.6% for Ledn/Unchained. Lava publishes only an up-to-50% LTV; its exact margin-call and liquidation thresholds are shown in-app before each draw, so you cannot assume a fixed buffer. For our full liquidation scenario analysis, see What Happens If Bitcoin Drops While You Have a Loan.
Keep researching before you pick a Texas loan path
Use the broader loan hub, cost guide, and methodology to pressure-test any Texas option before you move from regional screening into a real application.
Texas lender profiles
This guide is for informational purposes only and does not constitute financial, tax, or legal advice. Cryptocurrency lending carries significant risk including the potential loss of all collateral. Platform availability in Texas may change. Always verify current terms and regulatory status directly with the lender before committing funds. Tax implications vary — consult a qualified tax professional for your specific situation.