Know the difference between Celsius and BlockFi?


Celsius and BlockFi are cryptocurrency lending and lending platforms with similar business models.   

They also have their own unique features. Celsius has a service called CelPay that allows you to pay and receive money in cryptocurrency. BlockFi offers a Rewards credit card that will enable you to earn cryptocurrency rewards when you make purchases.   


Celsius was founded in 2017 by Alex Mashinsky, Nuke Goldstein, and S. Daniel Leon. Their goal is to bring financial features such as credit and interest income to the cryptocurrency world. In 2018, they released their own proprietary cryptocurrency, CEL, thereby opening up their high-end interest rate and credit products. They currently only allow access via mobile apps. Celsius is headquartered in London.  


BlockFi was also founded in 2017 to provide financial services to markets that have traditionally been denied access. They make most of their money by lending their savings to institutional borrowers (such as traders, investment funds, market makers, and companies that require cryptocurrencies) and by earning interest on loans. BlockFi is headquartered in New York. Both platforms have solid reputations and prioritize the safety of their investors.   

The right decision for you depends on where you are (Celsius is the clear winner outside the US) and what unique features tell you personally (Bitcoin Card BlockFi or Celsius’s CelPay platform). Celsius is available in over 100 countries.  


BlockFi and Celsius provide many of the same functions. But when choosing between them, these details are the most important. Both BlockFi and Celsius provide great interest rates for a range of cryptocurrencies.  

With this account, you can earn up to 9.0% of your crypto assets paid monthly with no commissions or minimum deposit. They offer 12 cryptocurrencies and stablecoins to make money from.   

Their total interest rate can be found on their website. The interest rates offered by the Celsius Earn Program range from 2.02% to 17.78%, which is more than twice the highest BlockFi interest rate. However, not everyone can get higher interest rates.  

This is where the Celsius token (CEL) comes in handy. Celsius has a tiered loyalty program that determines interest income. You must own a CEL to receive the highest interest rates.   

For example, if your Celsius wallet is 100% Bitcoin or Ethereum, you will only receive the base rate. You can also receive interest bonuses in CEL rather than “in-kind” in the currency they invested in. Important note for US investors: CEL is currently only available to international clients and accredited investors, which means that only base rates will apply.    

These interest rates range from 2.02% to 13.99%, and Bitcoin’s tiered return is similar to BlockFi. View the complete rate and income calculator on their website. Celsius offers more coin options with slightly higher interest rates than BlockFi, even for mainstream users. However, there are some exceptions, such as Litecoin, which has a temperature of 4.08% Celsius, and BlockFi’s 6.5%. Therefore, if you refer to a specific cryptocurrency, it is worth checking the BlockFi fees.   

Both Celsius and BlockFi offer cryptocurrency-backed loans that allow traders to borrow money or other coins against the value of their cryptocurrency assets rather than sell them. This avoids tax penalties and protects investors from sudden changes in the market. The BlockFi loan program is available in 45 states. They currently offer asset-backed loans in 4 currencies: Bitcoin, Ethereum, Litecoin, and PAX Gold.    

The loan terms are 6, 12, 24, and 36 months. Interest rates range from 0.75% (for platinum members who also pay in CEL instead of cash) to 8.95%. Celsius generally offers a slightly lower interest rate on crypto loans than BlockFi, especially when the LTV ratio is low. There are 25 cryptocurrencies to choose from as collateral instead of 4 BlockFi, which may be the best option available where you live.

Is it safe to lend out my cryptocurrency?

 The cryptocurrency lent to you is risky. Cryptocurrencies are not insured by FDIC or SIPC. Although lenders try their best to reduce risks, there is always the possibility of market collapse. The value of their collateral may not be enough to repay the loan balance, and your investment may be lost. Only you can decide whether the risk is worth it.   

Both platforms have an exchange that allows you to buy, sell, and trade cryptocurrencies. The main factors to consider are the number of available cryptocurrencies and the fees charged during transactions. Celsius currently provides 11 cryptocurrencies and stablecoins for trading, while BlockFi offers 8 types. None of them can compete with professional exchanges, many of which offer 50 or more cryptocurrencies. However, if you are only interested in the most common coins, they may be sufficient.    

BlockFi Trading, which is slightly more reliable than the Celsius offering, allows you to easily buy and sell coins on the BlockFi platform. They claim to trade with zero commission but apply a spread on every trade of 0.70 to 1.5%. When buying and selling cryptocurrencies on BlockFi and Celsius, the right choice depends on your payment method and where you live.    

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