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Home Platforms AQRU vs Ledn

Compare AQRU vs Ledn

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Definda Score™

The Definda Score is an impartial, objective analysis of platform features.
Savings Rates
4.7
Loan Rates
2
Established
1.6
Reviews
8
Risk Management
6
Withdrawals
6
Coverage
2.1
Support
6
Savings Rates
6.1
Loan Rates
4.6
Established
3.1
Reviews
8.9
Risk Management
8
Withdrawals
5
Coverage
2
Support
6
Savings Rates
4.7
Savings Rates
6.1
Loan Rates
2
Loan Rates
4.6
Established
1.6
Established
3.1
Reviews
8
Reviews
8.9
Risk Management
6
Risk Management
8
Withdrawals
6
Withdrawals
5
Coverage
2.1
Coverage
2
Support
6
Support
6

Pros & Cons

tick Simple, easy to use interface.
tick Competitive exchange rates.
tick Competitive interest rates for large deposits.
tick Clear ownership structure and regulatory status.
tick Run by strong, professional team.
tick No tiered savings rates. Rate applies to entire balance.
tick Unique AQRU Trend investment product
tick AQRU Ten makes it easy to diversify your crypto portfolio
tick Quicker time to withdraw crypto than than Ledn (24 hours vs 30 hours)
tick Fiat exchange available on AQRU but not on Ledn
tick Offers corporate accounts but Ledn doesn't
tick Instantly buy crypto with fiat on AQRU but not on Ledn
tick Has a slower withdrawal time than Ledn (24 hours vs 30 hours)
tick Ultra simple model
tick No hidden fees
tick Only one interest payment at end of 12 month term required on loans
tick Automatically buy more bitcoin with a loan secured against your existing bitcoin
tick Proof of company crypto reserves provided by major accountancy firm
tick Higher average review rating than AQRU (89% vs 80%)
tick More reviews than AQRU (698 vs 143 reviews)
tick Higher rating on Trustpilot than AQRU (4.7 vs 4 stars)
tick Been in business longer than AQRU (Founded 2018 vs 2021)
tick Has less assets under management than AQRU
tick Offers loans but AQRU doesn't
tick Has a lower level of insurance than AQRU
tick Has independent proof of reserves but AQRU doesn't
tick Interface supports Portuguese-Portuguese and Spanish whereas AQRU doesn't
Savings Rates
tick AQRU has a higher base saving rate for USD Coin (USDC) (8% vs 7.5%)
tick AQRU will pay interest on 2 stable coin deposits not offered by Ledn:
2 more savings rates pros ...
Savings Rates
tick Ledn has a higher base saving rate for Bitcoin (BTC) (2% vs 1%)
Loan Rates
tick Ledn offers loans in US Dollars (USD) fiat currency deposits whereas AQRU does not
tick Ledn offers loans in USD Coin (USDC) stable coin deposits whereas AQRU does not
1 more loan rates pro ...
cross High $20 fee for crypto withdrawls.
cross Limited number of coins supported.
cross Loans not available.
cross Need to manually fund savings accounts rather all deposits automatically earning interest.
cross Mobile app has very limited functionality
cross Savings rates only available fro BTC and USDC
cross Much lower savings rates for large BTC deposits
cross Bitcoin is only token acceptable as loan collateral
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Withdrawals

Withdrawal Time
24 hours
Withdrawal Time
30 hours
Withdrawal Score
6
Withdrawal Score
5
Withdrawals Experience

Crypto withdrawls on AQRU are not instant. They are processed daily at 2pm UTC. This means that if you make a withdrawl request at 3pm UTC you will have to wait until 2pm UTC the next day before it is processed. Once withdrawl requests begin processed at 2pm UTC they normally seem to complete by 3pm UTC in our experience.

If you have yoru funds invested in one of AQRU's investment products you will first need to withdraw your funds back in to your AQRU crypot wallet by selling the investment product. Only then can you make a withdrawl request to an external wallet.

Crypto withdrawls also attract fees. There is a $10 USD fee for Bitcoin withdrawls and a $20 USD fee for all other crypto withdrawls. There is no fee for fiat withdrawls.

There is no record of AQRU undertaking a blanket freeze of withdrawls across the platform. Some users have experienced delays in withdrawls as AQRU has been obliged to to ask further questions about the transfer to comply with its regulatory obligations.

Withdrawals Experience

Ledn has a very simple model. As soon as you deposit either BTC or USDC then those deposits immediately start earning interest. There is no need to manually transfer the money to a savings account once on the Ledn platform. This means that when you need to withdraw funds, you can withdraw them directly from the savings account. Savings accounts have no lock in period and you can withdraw your funds at any time.

Withdrawals are processed manually and Ledn states that the vast majority of requests are processed within 24 hours, but that the terms of the savings account stipulate that it can take up to 7 days. In our tests, withdrawals took about 30 hours from the time of request to the funds arriving in your wallet.

Ledn does not charge any withdrawal fees on BTC, however you must pay the miner's fees associated with the withdrawal. These fees will be deducted from the amount that you withdraw. There is a minimum withdrawal amount of 0.0005 BTC. For USDC withdrawals a fee does apply which is 35 USDC.

Ledn state in their FAQ that some withdrawal requests may require a confirmatory video call with the platform.

To date Ledn has never frozen withdrawals on any of their currencies.

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Risk

Risk Management Score
6
Risk Management Score
8
Risk Management

AQRU stores its uninvested crypto with a third party custodian, Fireblocks, which ensures that these funds are well protected against loss due to hacking and fraud. In addition AQRU has insurance of $30 million against crypto losses.

AQRU has implemented two factor authentication within it's app to increase security levels.

What remains unclear is AQRU's investment strategy that is uses to generate yield. AQRU launched with market leading interest rates on its savings accounts which suggests that a higher level of risk was being taken with its internal investment strategy. Having said this, AQRU has now significantly reduced its savings rates and AQRU has never frozen withdrawls or suffered any outage or loss of customer funds.

AQRU have stated that they lend funds to institutions in return for yield. AQRU states that they usually demand collateralisation on thse loans. The level of collateralisation is not stated, and it is concerning if some of their loans are not fully collateralised. Ideally they would be requiring well over 100% over-collateralisation on all loans so that in all circumstances AQRU holds sufficient assets to repay the loan in the event of a default by the borrower.

AQRU offers a blended stablecoin investment product. This product invests in USDC, DAI and some other stablecoins which are not stated. Diversifying the fund across a number of stablecoins reduces risk, but the lack of full transparancy means there could be some high risk coins included.

AQRU offers enhanced savings ratings on USDC deposits when locked up for a 90 day term. This is through a deal with Maple Finance. AQRU provide a detailed run down of this deal here. The article discusses Maple Finance's risk management strategy, including the diversification and overcollateralisation of loans made by Maple. However, the managed underwriting of some loans is also discussed, which presumably adjusts collateral requirements depending on the credit status of the borrower. There is a separate fund that can be called upon in the case of borrower defaults. Overall AQRU and Maple are offering a good level of transparency on how their lending strategy works. However in the event of large number of depositors making withdrawal requests, it is possible that liquidity could still be an issue.

Some crypto platforms can provide proof of reserves prepared by a third party. This proof of reserves proves that the platform holds more assets than customer liabilities. AQRU does not currently provide proof of reserves, but hopefully this is something that they will look to implement in the future.

Overall, AQRU is a young platform backed by a solid, experienced team. They have a simple model and appear to be aiming for transparency. As the platform continues to grow we expect further reasurances on their investment strategy will be provided.

Risk Management

Ledn accounts feature 2 factor authentication for key activities such as login and withdrawals. You can whitelist withdrawal addresses so that funds can only be sent to those addresses. You can also add a personal anti-phishing phrase to the site. This phrase will be included in any emails sent to you which will help you to verify that the email was sent by Ledn and not an impersonator.

Ledn state in their FAQs that assets deposited on the platform are not loaned out to borrowers and instead 100% of these deposits are stored with a third party cold storage custodian, Bitgo. However, elsewhere in their FAQs they state that they may in fact lend out these assets to a borrower and will not necessarily hold an equivalent amount of crypto as collateral. They go on to state that their primary borrower is Genesis. So we have mixed messages from Ledn about the extent to which deposits are loaned out, but in all likelihood deposits are loaned out as this is how they generate a return to pass on to you.

One unique feature of Ledn is that you can verify that your deposit really does exist in Ledn's accounts. This is done by way of a an attestation by Armanino LLP, a top tier accountancy firm. The Ledn web app provides a link to the Armanino asset verification page. Here you can enter a unique hash associated with your account which then reveals Armanino audit of your personal assets. The ability to verify personal individual assets in this way is quite unique and very reassuring. Other platforms that have implemented proof of reserves systems normally show that the total assets of the company exceed total customer liabilities, but there is no way to verify your individual assets.

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Reviews

80% based on 143 reviews
89% based on 698 reviews
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Savings Rates

The table below compares the savings rates for AQRU and Ledn. Enter the amount you intend to deposit to get a more detailed comparison.
Stable Coins
DAI Dai
3% APY
3% APY
USDC USD Coin
8% APY
8% APY
USDT Tether
3% APY
3% APY
Crypto Currencies
BTC Bitcoin
1% APY
1% APY
ETH Ethereum
5% APY
5% APY
Loading rates ...
Stable Coins
USDC USD Coin
7.5% APY
7.5% APY
Crypto Currencies
BTC Bitcoin
2% - 5.25% APY
2% - 5.25% APY
Loading rates ...
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Loans Rates

The table below compares the loan rates for AQRU and Ledn. Enter the amount you intend to borrow to get a more detailed comparison.
Fiat Currencies
Stable Coins
Loading rates ...
Fiat Currencies
USD US Dollars
7.9% APR
50% LTV 7.9% APR
Stable Coins
USDC USD Coin
7.9% APR
50% LTV 7.9% APR
Loading rates ...
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Company

Legal name
AQRU Plc
Legal name
Ledn Inc
Year founded
2021
Year founded
2018
Country incorporated in
42
Country incorporated in
47
Headquarters country
1
Headquarters country
47
Decentralised
tick Yes
Decentralised
tick Yes
Number of employees
Number of employees
40
Total assets under management
$50,000,000USD
Total assets under management
$1,000,000,000USD
Withdrawal time in hours
24hours
Withdrawal time in hours
30hours
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Products

Savings accounts
tick Yes
Savings accounts
tick Yes
Loans
cross No
Loans
tick Yes
Crypto to crypto exchange
tick Yes
Crypto to crypto exchange
tick Yes
Fiat to crypto exchange
tick Yes
Fiat to crypto exchange
cross No
Pro exchange marketplace
cross No
Pro exchange marketplace
cross No
Peer to peer exchange
cross No
Peer to peer exchange
cross No
Margin trading
cross No
Margin trading
Corporate accounts
tick Yes
Corporate accounts
cross No
Instantly buy crypto with fiat
tick Yes
Instantly buy crypto with fiat
cross No
Integrated crypto wallet
tick Yes
Integrated crypto wallet
tick Yes
Crypto withdrawals to private wallet
tick Yes
Crypto withdrawals to private wallet
tick Yes
Fast account verification
tick Yes
Fast account verification
tick Yes
Futures exchange
cross No
Futures exchange
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Security

Insurance level
$30,000,000USD
Insurance level
$100,000,000USD
Cold storage
Cold storage
tick Yes
Cold storage custodian
Fireblocks
Cold storage custodian
BitGo
Two factor authentication
tick Yes
Two factor authentication
tick Yes
Loan over collateralisation percent
Over 100% over-collateralisation
Loan over collateralisation percent
Credit check
cross No
Credit check
cross No
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Support

24/7 support
cross No
24/7 support
cross No
Email support
tick Yes
Email support
tick Yes
Phone support
cross No
Phone support
cross No
Chat support
tick Yes
Chat support
tick Yes
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Fees

Exchange fees
0.35% flat rate
Exchange fees
0% exchange fees
Fiat deposit fee
tick Free
Fiat deposit fee
Fiat deposits not accepted
Fiat withdrawal fee
tick Free
Fiat withdrawal fee
Fiat deposits not accepted
Crypto deposit fee
tick Free
Crypto deposit fee
tick Free
Withdrawal process
Withdrawls are processed every day at 2pm UTC. Any withdrawl request prior to this time will have to wait until 2pm UTC before it is processed. In our experience withdrawls are completed within an hour after 2pm.
Withdrawal process
Withdrawals are processed manually, normally with 24 hours. They can take up to 7 days max.
Withdrawal time
24 hours
Withdrawal time
30 hours
Crypto withdrawal fee
$10 for bitcoin and $20 for other cryptos
Crypto withdrawal fee
Miner's fee only for BTC withdrawals. 35 USDC for USDC withdrawals.
Savings crypto account withdrawal limit
Savings crypto account withdrawal limit
Up to 1,000,000 USDC every 7 days and up to 100 BTC every 7 days
Savings fiat account withdrawal limit
Savings fiat account withdrawal limit
No fiat savings withdrawls
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Investment Strategy

DeFi products
tick Yes
DeFi products
Independent proof of reserves
cross No
Independent proof of reserves
tick Yes
Proof of reserves
Proof of reserves
You verify that your specific deposits do exist within Ledn assets via a web link to Armanino LLP
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Registrations & Regulation

Know your customer
tick Yes
Know your customer
tick Yes
Regulators
Accru is registered as a Cryptoasset service provider with the Bulgarian National Revenue Agency. Accru has a pending application with the UK Financial Conduct Authority for approval as a crypto asset business
Regulators
Bulgarian National Revenue Agency
tick Yes
Bulgarian National Revenue Agency
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Other Platform Comparisons

Important Message Definda does not provide any financial advice. All information is provided for research purposes only. DeFi is a rapidly evolving industry. Most businesses in the sector are very young and it is possible that some of them could go out of business in the future. Such an event could result in the loss of your investment. You should do your own research or consult a financial advisor before investing any money. Please read and satisfy yourself with our terms before continuing to use our website. We offer a free impartial comparison service of savings, loans and other DeFi products. We may receive a small commission from some of the companies listed, but this never influences our rankings. If you spot any errors in the information listed then please contact us at info@definda.com.

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