BlockFi vs. Celsius: Which is Better?

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The financialization of Cryptos has taken substantial steps forward over the past few years. BlockFi vs. Celsius Network tends to be the most popular head-to-head comparison for evaluating the best Cryptocurrency interest accounts.

Both of these platforms allow users to gain access to remarkable features of the traditional financial system, i.e., borrowing and lending. 

Seeing the growing popularity of Cryptocurrencies, more people are dealing in these currencies, and new brands have come up in the market. But how to be sure which one suits you the most?

This answer may depend on numerous factors, like your prior experience in Crypto, current tradings in Crypto-assets, the coins you want to use, or the kind of security you require, etc. 

Let us now compare the two rising crypto platforms, i.e., BlockFi vs. Celsius Network, in this article to help you make the correct investment. 

BlockFi vs. Celsius in a Glimpse 

Information  Celsius  BlockFi 
Headquarters  London, England  Jersey City, NJ, USA 
Operating since  Founded by Alex Mashinsky and Daniel Leon in 2017  Founded by Flori Marquez and Zac Prince in 2017 
Minimum investment amount  $1  $1 
Deposits  Only Crypto, or buying directly from the app using a credit card (3.5% or minimum $10 fee – special rate of 2.99% for EEA and UK residents) + additional fee of 0.6%, or bank transfer  fee (0.1% – 0.5%)  USD (as stablecoin) or Crypto 
Withdrawals  Unlimited free withdrawals  The first withdrawal is free in each stablecoin and Crypto per month 
Security  High  Medium 
Insurance  Approximately $30M Fireblocks and PrimeTrust insurance that covers hot wallets  Approximately $200M Gemini insurance that covers hot wallets 
Beginner-friendly  Yes  Yes 
Cryptocurrencies supported  Bitcoin, and (Total 25) Ether  Bitcoin, Litecoin, Ether, and multiple stablecoins 
Coins  Stablecoins and 30 Cryptocurrencies  Stablecoins and 11 Cryptocurrencies 
Highest possible interest rate  12%  8.6% 
Lowest possible borrowing rate  0.7%  4.5% 
Loan terms  No registration fee, no credit check, payback in USD or CEL token, Stablecoin or Cash from $500 for a minimum of 6 months  Minimum of $5000 for 12 months in US Dollars and only for US-based borrowers 
Services  Lending, Borrowing,  Payments, and Staking  Trading, Interest Accounts, and Loaning 
Mobile App  Yes  Yes 
Desktop  No  Yes 
Proprietary taken  Yes  No 
Bonuses  $10 in BTC  $40 in BTC 
Defaults  None  None 

BlockFi Overview 

BlockFi is one of the most promising cryptocurrency lending platforms now and successfully holds its position at the top. The company not only boasts of native exchanges but also provides borrowing and lending services. 

These exchanges allow the investors to transfer between various Crypto assets flawlessly. Additionally, you will get access to esteemed platforms in the US with BlockFi exchange. 

Moreover, the company offers versatile lending terms without holding the users in extended contracts. With BlockFi, consumers can also enjoy receiving their interests in any digital currency they wish. 

Now, the platform also has a couple of disadvantages. For example, you will have to face a fixed fee every time you make a withdrawal after your first transaction. Apart from the crypto-assets being limited, you will also notice a delay in withdrawal time. 


  • It stores by Gemini (regulated by NYC) and ensures the wallets by NYSE: AON 
  • Started by an honorable team of investors from the US 
  • Interest rates are competitive with versatile and open terms 
  • To generate more rate of  interest, you do not have to stake or use native currencies 
  • Compound interest every month 
  • No formalities in withdrawing a minimum amount 
  • Zero monthly fee 
  • First withdrawal every month is free 
  • No rule of minimum balance in savings accounts 
  • Best for USA citizens 
  • BlockFi app accelerates trading, borrowing, and interest-earning, through a centralized kernel 
  • Bonuses of Bitcoin on credit cards 


  • First withdrawal every month is free with a withdrawal fee of 0.0025 BTC every time from the second withdrawal 
  • Complaints of delay in withdrawals 
  • Three collateral choices only 
  • Loan terms are restricted to 1 year 
  • You can only receive the loan in US Dollars 
  • Minimum loan is $5,000, which is very high 

Celsius Network Overview 

People switch to Celsius Network for their buying, lending, and Crypto dealing desires. This network allows people to borrow dollars at rates below 1% while earning an interest of 10% on their Crypto deposits. 

Additionally, Celsius Network supports multiple features that people desire, like revenue sharing with holders of its proprietary token; you can also successfully send Crypto to someone else even without a wallet. The Celsius Network also offers instant loans apart from the above features. 

Also, you can expect some of the highest interest rates in the industry if you keep your assets in a savings account as CEL. The Celsius Network platform provides its customers plenty of options by supporting a whole of 25 different Crypto assets. 


  • Zero minimum deposits 
  • Zero minimum balance 
  • No registration fee 
  • The interest rates on Stablecoins are very competitive 
  • Immediate payments using CELPay without any charge 
  • Bonuses every week (you will earn interest each Monday) 
  • Supports multiple Cryptocurrencies 
  • There are two options to earn Crypto interest, i.e., either by earning the same coin that you had deposited or by earning in native coins of Celcius (CEL). 


  • You need to pay in the native currency to get better interests 
  • If you wish to earn interest, you require the Know Your Customer (KYC) form. For this, you will have to submit your SSN and Identification 
  • Interest rates keep changing from time to time 
  • If you wish to change the address (as you can use only one address per withdrawal for each Crypto), there will a 24-hour hold on your account 
  • No benefit of earning in CEL for US customers 

Winding Up 

Most users may find the attributes offered by Celsius Network attractive. But those who are just looking to venture into the Cryptocurrency lending space may find BlockFi’s flexible terms suit their needs. 

Also, it is worth noting that Celsius is currently available as a mobile app only, while BlockFi offers both Desktop and mobile versions of the platform.