I've been in both side of the loans.

My experience with Ledn.io: It was very straight forward, I deposited my BTC, in less than 5 minutes I got my loan with a 50% LTV (for example, $1000 worth of BTC I got $500), the interest rate was about 14,2% year. I could pay the loan before the year with no fees or penalties. I bought some SATS with the money I got from the loan. During my loan the price went down and I needed to send more SATs to add more colateral. It was a risky move, I'had some sleepless nights. It's not for everyone!

My experience lending funds on Lend by HodlHodl: I have a small amounts of my saving on stablecoins , because we liked or not is a strong currency compare to the EUR. I use this USD saving as liquidity and when I know that I'll not use this funds for some time, I lend part of it on HodlHodl. I've done some loans backed by BTC for a good interest rate (sorry for my FIAT mentality) between 14% to 60% year. I always got my capital + interest back, no problem at all.

OFF COURSE, buying and holding BTC would have been more interesting, but this money is the one I use for the short term.

If the other person won't pay me back, I would get some BTC for the value of my capital + interest.

I did some research about Firefish, but it was very complicated the custody part...