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BlockFi vs. Celsius: Best For Passive Income?? Compared! ๐ŸฅŠ

๐Ÿ“ฒ Insider Info in my Socials ๐Ÿ‘‰
๐Ÿ›’ BlockFi Bonus Up To $250 ๐Ÿ‘‰
๐Ÿ›’ $50 Celsius Bonus ๐Ÿ‘‰
๐Ÿ’ณ BlockFi Card: Up To 3.5% Cashback ๐Ÿ‘‰
๐Ÿ‘• Check Out My Merch ๐Ÿ‘‰
๐Ÿ”ฅ TOP Crypto TIPS In My Newsletter ๐Ÿ‘‰


๐Ÿ“บ Recommended Videos ๐Ÿ“บ

โ–บ Decentralized lending platforms:
โ–บ My crypto tax tips:
โ–บ Celsius (CEL) all you need to know:


0:00โ€‹ Intro
2:02 What Is Crypto Lending?
4:13 How Is Interest Paid?
6:12 Who Are BlockFi & Celsius?
10:09 How Much Can You Earn?
13:25 Withdrawals & Fees
15:09 Customer Support
16:40 Security
18:30 Additional Features
21:27 Final Thoughts


โ›“๏ธ ๐Ÿ”— Useful Links ๐Ÿ”— โ›“๏ธ

โ–บ How interest is generated:
โ–บ Rehypothecation:
โ–บ BlockFi licenses:
โ–บ Alex Mashinsky:
โ–บ BlockFi fees:
โ–บ Celsius security breach:


โ“ What Is Crypto Lending? โ“

This relatively new trend is all about supplying crypto or stablecoins and earning interest in return! Thatโ€™s all there is to it.

There are two core reasons why you might consider this:

โ–บ Crypto lending interest rates can be in the double digits!
โ–บ You retain exposure to the crypto markets.

Sure, you could hide your entire crypto portfolio away in a hardware wallet, or you might want to put some of that crypto stack to work and earn crypto interest.

๐Ÿ’ฐ How Is Interest Paid? ๐Ÿ’ฐ

Celsius and BlockFi essentially take your deposits and lend those funds out to institutions or businesses. So, it is a form of securities lending.

Those businesses and institutions then pay the lending platform interest, which is then used to pay out interest to people like you and me.

๐Ÿคท Who Are BlockFi & Celsius? ๐Ÿคท

BlockFi, are a privately held New York based lending platform which was founded back in 2017. Unlike others, these chaps didnโ€™t raise funding using token sales, but instead opted to down the path of VC funding.

Those backers include some very big names like the Winklevoss twins.

Recently, BlockFi completed a series D funding round, raising $350 million at a $3 billion valuation. So, they are highly unlikely to go broke anytime soon.

BlockFi also holds a load of different licenses too. So, if you care about that, then this is a massive plus.

Celsius was founded in 2017 as well, by co-founder Alex Mashinsky. Heโ€™s got a pretty crazy entrepreneurial record founding Transit Wireless and exiting for $1.2 billion in valuation. But it turns out that was no fluke, he also co-founded Arbinet for $750 million in valuation.

๐Ÿ’ธ How Much Can You Earn? ๐Ÿ’ธ

Celsius allows you to earn interest on 12 different stablecoins, three gold tokens and 27 cryptos. Whereas, BlockFi offers support for half the number of stablecoins, one gold token and size different cryptos.

Celsius offers interest rates up to 17.78%, whilst BlockFi offers up to 8.5%.

๐Ÿ’ณ Withdrawals & Fees ๐Ÿ’ณ

Interest is paid weekly on Celsius and monthly on BlockFi. You can also withdraw your funds anytime on both platforms. When it comes to withdrawal fees, BlockFi gives you one free withdrawal a month and charges for additional withdrawals. All withdrawals on Celsius are free.

๐ŸŽง Customer Support ๐ŸŽง

Search the internet and youโ€™ll find many people complaining about Celsiusโ€™ support. They appear to have upped their game this year. However, BlockFi have certainly focused on this area and provides excellent support.

๐Ÿ”’ Security ๐Ÿ”’

Both platforms have not had security breaches where users have lost money on the perspective platforms. However, there have been a few breaches in the past. Watch my vid for more details on that!

โœ… Additional Features โœ…

Both platforms offer mobile and desktop support and let you take out a crypto loan. However, only BlockFi lets you opt for interest to be paid in stablecoins – something important to make reporting those taxes easier.

BlockFi also offers an in-built crypto exchange and a crypto credit card too. That card gives you up to 3.5% crypto cashback.

๐Ÿ“œ Disclaimer ๐Ÿ“œ

The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speaker does not guarantee any particular outcome.

#Blockfi #celsius #crypto #lending #defi #stablecoin

Source: Coin Bureau

20 Responses

  1. Not even a comparison; back during the 2020 flash crash I had a loan with both Celcius and Nexo with BTC and ETH as collateral (respectively) the bastards at Nexo liquidated me in a heartbeat while I was sleeping (Miami time) no chance to add collateral or pay off loan, all my ether gone (200 at the time) Celcius on the other hand has always given me plenty of time, and plenty of notices to avoid being liquidated, there is absolutely NO comparison, and why I do business with Celcius exclusively now, and will always do so, they EARN customer loyalty through their actions/deeds, I hope they crush Nexus and Blockfi both.

  2. I am owning a Ledger and recently I saw a new tab in Ledger Live 'Discover' which has access to Compound, AAVE and 1Inch. So it seems that soon you'll be able to lend your crypto from your ledger to DeFi platforms without giving any private key. Any thoughts on this?

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