Can you get a crypto loan without collateral?

For most people, a crypto loan without collateral is not available. Standard crypto loans are over-collateralized, meaning you lock up more value than you borrow, as explained in crypto lending and borrowing. Public offers promising one are a common sign of fraud.

Is there a crypto loan without collateral?

The best-known version is the flash loan. Aave's documentation describes it as borrowing with no collateral on the condition that the amount and a fee go back to the pool inside the same transaction. If they do not, the whole transaction is reversed. Aave says flash loans are aimed at developers who understand smart contracts, and they are used for things like arbitrage and liquidations.

A second form is credit delegation. On Aave, a depositor who has supplied collateral can let another address borrow against it. The borrower posts nothing, but the loan is recorded against the depositor's collateral, so it is still secured from the protocol's point of view. Aave's docs say the terms between the two parties are agreed separately, off-chain through legal agreements or on-chain through smart contracts. CoinDesk reported that early deals were arranged case by case.

Can you get crypto loans without collateral in the USA?

Unsecured crypto lending does exist for institutions. Maple Finance built its business on undercollateralized loans to vetted trading firms. In December 2022, according to The Block, Orthogonal Trading defaulted on about $36 million of those loans, and one affected pool faced a loss of roughly 80%.

Retail products in the US are generally secured. When Coinbase launched bitcoin-backed loans through the Morpho protocol in January 2025, they required collateral worth at least 133% of the loan at the start, and the bitcoin could be sold if the loan grew too large relative to it. At launch, the product was available in the US except New York.

Is there a crypto loan with no credit check?

Yes, in the sense that collateralized crypto loans often skip the credit check. The Block's report on the Coinbase product described no underwriting beyond the collateral ratio. The collateral replaces the credit score. If prices fall, the borrower can be liquidated and lose the coins.

How do crypto loan scams work?

Apps and websites advertising instant crypto loans with no collateral and no checks often follow the pattern the Federal Trade Commission calls advance-fee loan fraud. The FTC says legitimate lenders do not guarantee approval before you apply, especially to people with weak or no credit. Typical signs include:

• An upfront fee demanded before the loan is released.
• Guaranteed approval regardless of credit history.
• Promises of fast money within a set time.
• Requests for card, bank or identity details from a company you do not know.

In a crypto version, the upfront fee is usually requested in crypto, and the site may also ask you to connect a wallet, which carries the risks described in phishing and wallet drainers.

Once crypto is sent, it is very hard to recover. Lending rules differ by country and state and change often.