BlockFi vs. Celsius: What’s the Difference?

Posted by Frank Gogol

More and more people nowadays have developed an interest in making money with cryptocurrency. However, among the many platforms that can store your cryptos, it’s rather difficult to choose the best one for your purposes.

Everyone is putting their bets on either BlockFi or Celsius, but which one is more reliable? Which one is safer? Which one has the best rates? We’ll compare BlockFi vs Celsius for you.


BlockFi vs. Celsius: What’s the Difference?

Both BlockFi and Celsius are similar, with a business model showing they offer almost the same thing. They provide crypto-backed loans, high-yielding interest accounts, and crypto exchanges.

At the same time, they have their differences and unique features. For instance, Celsius gives you access to CelPay, one that allows you to receive payment in crypto. On the other hand, BlockFi gives you access to Bitcoin Rewards credit cards. This option allows you to earn interest each time you shop using cryptocurrency.

Both are unique in their way, so understanding the differences between the two will allow you to choose the best one for your needs.

What Is BlockFi?

BlockFi is a crypto trading and exchange platform that was founded in New York, 2017. At a glance, its purpose is to offer financial services in a market that would normally have no access to cryptocurrencies.

BlockFi makes money through interest accounts. In other words, the money that you have in your savings will be lent to other institutional borrowers (i.e., traders or businesses), offering you payments in interest for your “trouble.”

What Is Celsius?

Like BlockFi, Celsius was also set up in 2017 – but this platform is in London. Its purpose was to offer access to financial features for people that dwelled in cryptocurrency. This included interest income and crypto-backed credit, something that would not be available with a traditional bank.

In 2018, it issued a proprietary crypto coin of its own – namely, the CEL Token. This coin offered access to higher-end loan products and interest. Celsius offers their services through a mobile app, making it a good option for those who are constantly on the move.

What’s the Difference?

The main difference is likely in the use of either platform. BlockFi is more recommended for those who want the Bitcoin rewards credit card, need desktop access no matter the circumstances, and want to earn interest by using Litecoin.

On the other hand, Celsius offers better rates for both loans and accounts. At the same time, it’s more convenient for sending and receiving instant cryptocurrency payments, regardless of where you may be. Celsius covers internationally, not just the United States.

Celsius also has a wider range of coins available. For instance, While BlockFi only has the traditional Bitcoin, Celsius also adds Bitcoin Cash and Bitcoin SV in the mix. Celsius is the better option for those who are looking for variety.

BlockFi vs. Celsius: Features Comparison

To better understand which platform works best for you, you must compare its features. Here is what they have to offer:

Interest Rates

BlockFi allows its users to earn interest through stablecoins, Ethereum, Bitcoin, Litecoin, PAGX, BAT, and Uniswap. Stablecoins can earn up to 7.5% in annual interest, but the other cryptos typically earn between 1% and 5%.

Celsius offers a similar range of cryptos, but the interest rates may vary. When it comes to stablecoins, you may expect to earn somewhere around 8.9% in interest. Other traditional coins can earn between 2% and 11%, depending on the asset.

On average, Celsius offers the highest interest rates for savings accounts. Technically speaking, Celsius has floating interest rates – meaning that the rate changes as the cryptocurrency gains value or depreciates. The asset itself will also determine the interest. With that in mind, the interest rate remains fairly steady over time.

Payouts and Withdrawals

Celsius offers free withdrawals to its users. There are also no origination fees or origination fees where withdrawals are involved. You may withdraw how many times a month you want, without having to worry about a withdrawal fee. There is also no minimum withdrawal that you’ll have to respect.

However, on BlockFi, you are limited to one free withdrawal per month, regardless of the amount of Bitcoin that you are planning to withdraw. You also have limitations for withdrawals. Depending on the type of coin that you are paying or withdrawing, you are limited to a certain amount that you may withdraw. BlockFi also charges a fee depending on the type of Bitcoin that you want to take out.

In terms of fees and withdrawals, it seems that Celsius performs better as compared to BlockFi. By not paying any fees on withdrawals, users can save on money and get the most out of their investments.


Both Celsius and BlockFi are well set in terms of security. Multiple protection features will prevent unauthorized users from entering your account. First things first, both platforms feature 2-factor authentication, which requires you to connect your phone as well in order to get into your account. This feature is highly recommended for safety.

When it comes to crypto transfers, both platforms have methods for ensuring the money does not end up in unauthorized places. BlockFi, for instance, has address allowlisting, which allows you to choose which wallets you wish to transfer in. This will prevent money loss or theft, as you will only be able to send the cryptos in wallets belonging to you.

Celsius has a fairly similar security measure, called the HODL mode. This will prevent unauthorized transfers as well. HODL mode will temporarily restrict your account’s ability to send funds outside the platform. In other words, if someone manages to hack their way into your account, they won’t be able to send the money anywhere else. The temporary restriction takes place for 7 days, after which you will have to reactivate the restriction.

The thing about this restriction is that while it restricts unauthorized people from sending funds, it does the same thing to you. However, if you don’t plan to take out any investments in the meantime, HODL is a great protection method. It’s a good option if you just want to keep your funds there so that they gain interest.

Other Notable Features

Other notable features from both platforms may also help you determine which one is better. For instance, customer support is thorough for both platforms. Celsius is the fastest to respond on social media such as Twitter or Reddit, but you may also try their email or telephone line.

BlockFi has a FAQ page that customers are encouraged to read before trying to contact the support team. If the customer support does not help much, then you may contact them via email or phone as well.

The interface is easy to use for both platforms, but Celsius has some extra features that may sound confusing for beginners. BlockFi is easier and fairly intuitive to use, whereas Celsius has a bit of a learning curve.

Final Thoughts 

Depending on what’s important for you, both BlockFi and Celsius have their advantages. Generally speaking, Celsius is the one with the more competitive rates, whereas BlockFi has an easier-to-use interface. Overall, both are great for earning interest.

Need a Loan? Get One in 3 Simple Steps

If you are considering applying for a personal loan, just follow these 3 simple steps.


Apply online for the loan amount you need. Submit the required documentation and provide your best possible application. Stronger applications get better loan offers.


If your application meets the eligibility criteria, the lender will contact you with regard to your application. Provide any additional information if required. Soon you’ll have your loan offer. Some lenders send a promissory note with your loan offer. Sign and return that note if you wish to accept the loan offer.


The loan then gets disbursed into your U.S. bank account within a reasonable number of days (some lenders will be as quick as 2-3 business days). Now you need to set up your repayment method. You can choose an autopay method online to help you pay on time every month.


About Stilt

Stilt provides loans to international students and working professionals in the U.S. (F-1, OPT, H-1B, O-1, L-1, TN visa holders) at rates lower than any other lender. Stilt is committed to helping immigrants build a better financial future.

We take a holistic underwriting approach to determine your interest rates and make sure you get the lowest rate possible.

Learn what others are saying about us on Google, Yelp, and Facebook or visit us at If you have any questions, send us an email at [email protected]

Read previous post:
Is BlockFi Safe? Safety And Security Explained

Every millennial nowadays knows that if you want to be successful, you need to invest. Stocks are not the only...