BlockFi vs Celsius: Is One More Trustworthy?

The world of cryptocurrencies is rife with disorganization, inefficiencies, and/or manipulation. This is why a lot of investors think twice about entering the market and putting their hard-earned money into an asset class that is still developing.

However, this is also an asset class that is filled with potential making it an intriguing fit for modern investors. This is why you are going to look at dealing with cryptocurrencies and setting up loans to make money on interest.

To do this, you will come across two active platforms – BlockFi and Celsius. This comparison will look at what these platforms are all about, how their interest rates work, and which one is a good fit.

Features Comparison: Top Benefits and Features

BlockFi: Our Favorite Features

a brief overview of the blockfi app

  • No Minimum Balance

The first detail most investors are going to think about will involve the underlying fees.

BlockFi does a good job of keeping things as simple as possible for beginners. This means you don’t need a large sum of money to get your feet wet to learn more about the world of cryptocurrencies. Instead, all you will require is a few dollars.

You can have the funds ready to go within a few days and then see which type of set up is best for your portfolio.

  • Mobile App

The app is going to play a major role for those who are always on the go and want a good user experience. If you are selective about what you are doing, this app is a wonderful addition to what BlockFi has to offer.

The benefits include:

  • Works on iOS and Android Devices
  • User-Friendly
  • Safe to Use

The app is quick, seamless, and just works the right way.

It makes investing in this asset class a breeze while also providing insight into how those assets are doing.

  • ACH Integration

A lot of people are looking to integrate their banking experience with their cryptos. This is just a normal part of your financial setup and you will want to keep it as seamless as possible.

With ACH integration, you can get the funds from your bank to your account quickly.

It saves a lot of time and keeps things as simple as they need to be heading into the future.

  • Digital Asset Insurance

While BlockFi does not get backed by the FDIC on its assets, there is a separate insurance provider in place through Gemini.

Gemini is in Germany and protects BlockFi in the case of lost assets.

The benefits include:

  • Ideal for Protecting Cryptos
  • Backed by Gemini
  • Peace of Mind

It is essential to note this is far better than going into the process without any sort of safety net. Gemini is a reputable name in the crypto world and is heralded for the work it does.

You will feel safe knowing they are providing a good amount of financial protection.

  • No Minimums on Deposits

Let’s assume you are thinking about getting started with BlockFi and want to do it the right way.

In a situation such as this, you will look at the deposits to see how things play out. In general, there are no minimums on the deposits making it easy to send money to your account even if it is a little amount.

However, you are going to be expected to pay a set fee of $10 per deposit, so please keep that in mind when you are moving forward with a small amount.

2. Celsius Key Features

a look at how celsius works

  • 30+ Cryptocurrencies

It all starts with knowing there is a significant set of options available for you to go through as an investor.

When you are entering any type of asset class, there is nothing worse than getting restricted to a few options. This may be okay for beginners but isn’t going to satisfy those who are looking to expand past bitcoin or ethereum.

In this case, Celsius does a good job of offering access to more than 30 cryptocurrencies on the open market.

  • No Minimum Balance Required

The balance is always going to play a role in what you end up doing.

Most beginners will want to start with a few dollars and that won’t be a problem here at all.

The benefits include:

  • Ideal for Beginners
  • Quick to Set Up
  • Proven Results

Not only are you going to have the option to go ahead without a balance but you will know it is going to be set up without fees.

This means even if you want to put in a small amount, it is possible to do so. You are not going to be charged a significant fee upfront for smaller deposits and/or a small balance.

  • Weekly Rewards

This is one of the more powerful features associated with the interest coming to you regularly. The “rewards” that are going to be sent to you will be coming in weekly.

This means your portfolio is going to grow over time and it is going to be visible right away. This is empowering for those who want to do things the right way.

If you want weekly rewards, Celsius does a good job meeting those requirements head-on.

  • Quick Withdrawals

When your portfolio begins to grow, you are going to want immediate access to those funds. Some will use this feature while others are going to let their little nest egg grow.

Both options are fine, but Celsius does a good job of making the withdrawals seamless.

The benefits include:

  • Ready to Go Within Days
  • Ideal for All Amounts
  • No Hassles

You can get the funds without having to pay a fee.

This is perfect for those who want to make sure the funds are moving as they need to and they can use them to their heart’s content.

This adds value to your experience as an investor and makes it possible to enjoy the rewards of your earnings.

  • Mobile-Friendly

The Celsius app is world-class and has been developed with your investing needs in mind.

Everything is laid out in an easy to understand manner allowing you to go through the assets, look at the rates, and figure out what your rewards are going to be like.

This is empowering for those who want as much information as possible about what they are investing in and want to do things the right way. If that is something you can relate to, the app is perfect as it works on all types of devices.

So, even when you are on the go, this app is ready to help.

Ease of Use: How their Apps and Platforms Work

BlockFi App Highlights

  • Works with Most Devices 

BlockFi’s app is designed to work on both iOS and Android devices making it perfect for the average user. The app is quick, efficient, and provides all of the real-time information you need to understand how your portfolio is doing.

This is key information that goes a long way while setting things into motion.

The app has been designed in a way where it works well in all situations whether you are at home or on the bus.

Just having this type of solution provides peace of mind.

  • Quick Deposits and Withdrawals

The deposits are rapid and that is great for those who are on a timeline.

Perhaps, you want to get started right away and don’t like the idea of having to wait a lot. In this case, you will have the funds ready to go within a day or so, which is much faster than other comparables.

This alone is perfect for those who are particular about where their funds are going and how quickly the money can be taken out when it is time to pay bills.

See full list of BlockFi highlights at their website. 

Celsius App Highlights

  • 24/7 Access

The access is something you are going to enjoy with their app.

Celsius takes the time to focus on making the user experience picture-perfect. This includes allowing users to go through their holdings at any time of the day.

Whether it is early in the morning or late at night, the app is going to be running perfectly at all times.

RELATED READING: Coinbase vs BlockFi

  • Seamless Integration

The integration with your bank account will be a major plus.

This is a key part of the user experience as a lot of companies don’t focus on this. However, Celsius has taken the time to think about the integration process and makes it as easy as it needs to be.

Key Pros and Cons for BlockFi and Celsius


  • Large Selection of Assets

It all starts with the assets that are made available through BlockFi. You are not going to be restricted to the available assets and this is good for those who are advanced investors.

You are not going to be restricted to just Bitcoin, which might not be the only type of asset you are on the lookout for.

  • Good Rates

The rates are wonderful and will continue to grow as time goes on.

This is something BlockFi is known for and it does add value to your experience as a modern user. You will know the investor will add value over the long haul.

The benefits include:

  • Market-Friendly Rates
  • Low Fees
  • Great for Beginners

The best part is, the value continues to rise for all of the assets.

This is perfect for those who want to dabble their feet in crypto investing while also getting a good return on their holdings.

  • No FDIC Insurance

Not everything is perfect when it comes to BlockFi and one of the main concerns has to do with the lack of FDIC insurance on the assets.

To overcome this hurdle, they provide access to a digital asset insurance option through Gemini.


  • No Withdrawal Fees

The withdrawal fees can be a killer when it comes to using your funds after taking them out. You don’t want to pay a lump sum off the top and you don’t have to with Celsius.

This is powerful for those who are dealing with large amounts and want to keep things as cost-effective as possible.

If that is you, Celsius does get the job done.

RELATED READING: Coinbase vs Coinbase Pro

  • Customizable Interest

The interest payments that are going to be coming through have to be tailored to your needs.

This is where Celsius shines because you are not restricted to how you receive those rewards.

The benefits include:

  • Access to CEL Tokens
  • High Interest Rates
  • Crypto-Based Interest Available

Just having this option is great as you can use the CEL tokens to get even more rewards.

  • Centralized Wallet

One of the cons associated with Celsius has to do with the centralized wallet.

The funds are all going to be in one wallet and that may reduce your control over those assets as long as they are on Celsius.

This is something to account for if you are investing a large sum.

Fees and Costs

1. BlockFi

  • Deposit Fee – $10 Per Transaction
  • No Withdrawal Fee – $30 Per 0.0025 BTC
  • No Origination Fees
  • No Early Termination Fees

2. Celsius

  • No Withdrawal Fees
  • No Deposit Fees
  • No Origination Fees
  • No Early Termination Fees

Summary: Final Tips for Picking Celsius or BlockFi

If you are thinking about spending money on cryptos, you will realize it is essential to start with a high-quality platform that is going to provide full protection. This is the only way to feel safe about where your money is going and the value you are going to retain from it over the long haul.

In general, both BlockFi and Celsius are good fits. They will both offer a good amount of value for investors getting their feet wet.

You should pick BlockFi if…

You want a large selection of assets, good interest rates, some form of digital asset insurance, no minimums, and a seamless interface.

You should pick Celsius if…

You want to avoid any type of fees, 24/7 access, a quick app, the ability to customize interest returns, and a reputable customer service experience.