Disclaimer: BlockFi has paused withdrawals in Dec 2022 and is preparing to file for bankruptcy, and therefore we can no longer recommend BlockFi. If you are looking for a platform to earn interest, here are our top recommendations:
BlockFi and YouHodler are two of the best crypto platforms to earn interest on, buy and sell cryptocurrencies, and get crypto loans.
It’s a classic David and Goliath story, or in this case, USA versus Europe. Both platforms offer fantastic features but are not identical in any sense.
In this article, we’ll cover both platforms’ features, pros and cons, rates and fees, and then determine which one may be more appealing to you and your needs.
BlockFi vs YouHodler: Interest Rate Comparison
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BTC |
4% APY (First 0.1 BTC) |
4.8% APY (First 0.1 BTC) |
ETH |
4% APY (First 1.5 ETH) |
5.5% APY (First 1.5 ETH) |
USDT |
7.25% APY (First 20,000 USDT) |
12.3% APY (First 20,000 USDT) |
USDC |
7.25% APY (First 20,000 USDC) |
12% APY (First 20,000 USDC) |
DAI |
7.25% APY (First 20,000 DAI) |
12% APY (First 20,000 DAI) |
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| Header | |
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|---|---|---|
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BTC |
4% APY (First 0.1 BTC) |
4.8% APY (First 0.1 BTC) |
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ETH |
4% APY (First 1.5 ETH) |
5.5% APY (First 1.5 ETH) |
|
USDT |
7.25% APY (First 20,000 USDT) |
12.3% APY (First 20,000 USDT) |
|
USDC |
7.25% APY (First 20,000 USDC) |
12% APY (First 20,000 USDC) |
|
DAI |
7.25% APY (First 20,000 DAI) |
12% APY (First 20,000 DAI) |
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BlockFi vs YouHodler: Comparison Table
| Cell | |
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Nunber of Coins |
23 |
57 |
|
Minimum Deposit |
No minimum deposit |
No minimum deposit |
|
Withdraw Fee |
One free withdrawal per month on certain assets. Fee charge for a withdrawal on other assets. |
Minimum withdrawal amount varies from $5 to $50 and does not include a miners reward. |
|
Pros |
– Buy and earn crypto at one place – USA regulated with no hidden fees – Flex payment interest earning option on the crypto of your choice |
– Crypto and fiat instant currency conversion – Top-notch security and insurance – No hidden fees and access to wallet with savings, loans, and conversion features |
| Cons |
– Low interest rates that fluctuate frequently – High loan fees and no bank failure insurance |
– Not available to use in the USA and China – High loan fees and no platform credit cards |
| Website |
BlockFi vs YouHodler: Comparison Table
| Cell | |
|
|
Number of Coins |
23 |
57 |
|
Minimum Deposit |
No minimum deposit |
No minimum deposit |
|
Withdraw Fee |
One free withdrawal per month on certain assets. Fee charge for a withdrawal on other assets. |
Minimum withdrawal amount varies from $5 to $50 and does not include a miners reward. |
| Pros |
– Buy and earn crypto at one place – USA regulated with no hidden fees – Flex payment interest earning option on the crypto of your choice |
– Crypto and fiat instant currency conversion – Top-notch security and insurance – No hidden fees and access to wallet with savings, loans, and conversion features |
| Cons |
– Low interest rates that fluctuate frequently – High loan fees and no bank failure insurance |
– Not available to use in the USA and China – High loan fees and no platform credit cards |
| Website |
Pros
- Instant access and immediate execution of trades
- USA based and regulated
- No hidden fees and no minimum deposit requests
- Rewards credit cards
Cons
- Interest rates and loan rates fluctuate frequently
- High loan fees and limits to free withdrawals
Pros
- Instant fiat and cryptocurrency conversion
- Europe based and regulated
- No hidden fees, no minimum deposits, and an all-in-one wallet feature
- Transparent and knowledgeable team with 24/7 customer support
Cons
- Not available to use in the USA and China
- There is no credit card on the platform
BlockFi vs YouHodler Features
BlockFi offers a cryptocurrency exchange, interest accounts, and crypto loans but doesn’t offer any multiplication or lending tools.
What makes this platform stand out is the rewards credit card system. Namely, BlockFi was the first ever platform to enable a Bitcoin rewards credit card. This way users can earn 1.5% back for every purchase they make. Furthermore, these rewards are added back to your account at BlockFi, and you can continue to earn interest on them, making it a marvellous way to maximise savings.
The automatic trading engine system at BlockFi is also another excellent feature enabling busy traders to automatically set buying or selling orders on the platform.
YouHodler, on the other hand, doesn’t have the same brand recognition as BlockFi. However, it still managed to acquire a substantial following, and it continues to grow in numbers with each passing month.
This platform is best for all types of traders, from beginners to intermediate and advanced enthusiasts. According to its users, the two best features on YouHodler are the Multi HODL and the 12%+ savings accounts.
Namely, anyone that is registered on YouHodler can access these rates without the need for premium membership. Multi HODL helps users multiply their crypto by up to 50 times, depending on the trade’s risk levels. This multiplication tool also has a user-friendly design helping users earn passive income in a fun way.
Winner – YouHodler
While BlockFi may be the obvious choice for those living in the USA, we’d have to go with YouHodler, primarily due to its innovative features and solutions, like the Multi HODL.
The interface is incredibly user-friendly, it has top-tier security in place, consistent updates on its platform, and amazingly high-earning potential.
BlockFi vs YouHodler Fees
Every platform has a series of fees that users need to consider. However, it all depends on what type of operations you plan to perform as the same operation’s fee may differ between platforms.
BlockFi, for example, is a commission-free type of platform, which means you won’t need to pay any amount if you just buy or sell crypto.
With that in mind, BlockFi charges a withdrawal fee, and the amount will depend on the type of crypto you trade. Moreover, the fee will be in the same crypto you’re working with.
One good thing to note is that BlockFi offers one free of charge withdrawal per month on specific assets.
Here are some limits you may want to consider before selecting BlockFi as the crypto platform of choice:
- Bitcoin – 0.00075 fee and a limit of 100 BTC to be withdrawn
- Ethereum – 0.02 fee and a limit of 5,000 ETH to be withdrawn
- Litecoin – 0.0025 fee and a limit of 10,000 LTC to be withdrawn
- Chainlink – 0.95 fee with a limit of 65,000 LNK to be withdrawn
- Tether/Gemini Dollar/USD Coin – $10 fee with a $1,000,000 to be withdrawn
Another good thing to note is that if you stay within these withdrawal limits, you might not have to pay any fee since, as previously mentioned, all users receive one free withdrawal per month.
YouHodler is almost the complete opposite of BlockFi in terms of fees. Although they both request no minimum deposits, YouHodler’s fee structure is utterly different.
The withdrawal fee largely depends on the payment mode. YouHodler charges a 1% close now fee for Turbocharge, while each cryptocurrency has its own specific fee. If you wish to conduct a bank wire transfer, there will be a 5% fee applied to the transaction.
This platform’s fees for loans are the following:
- Close Now Fee – 1%
- Reopen Fee – 1% + an interest fee
- Increase LTV – 1.5%
- Extended PDL – 1.5%
Winner – Draw
Since both platforms offer vastly different fee structures, we can’t separate the two and decide to go one way or the other.
Each has its own pros and cons, and while both have no minimum deposit requirements, their fee structures are totally the opposite.
Number of Cryptocurrencies
BlockFi currently supports 23 cryptocurrencies, including Bitcoin, Ethereum, Litecoin, Link, USD Coin, and more.
YouHodler currently supports 57 cryptocurrencies, including every coin available on BlockFi, plus more.
Winner – YouHodler
A no-brainer, of course, YouHodler is the clear winner since it supports more cryptocurrencies than BlockFi, including every coin that BlockFi offers. This is its biggest asset, as advanced crypto enthusiasts can easily invest in various cryptocurrencies of their choice.
Hodlnaut vs YouHodler Security
Security plays a major role in the crypto world, and it’s a genuine concern for all crypto holders. As statistics show that DeFi attacks keep on rising, people are beginning to shift to centralised platforms.
BlockFi is under constant attack in the USA, at the moment, proudly holding its fort and implementing strict security features such as 2FA (two-factor authentication), IP whitelisting, SSL encryption, and cold wallet storage.
Additionally, it also employs the following features to improve its security:
- Keeps third party reserves with Gemini, BitGo, and Coinbase
- Purchases CFTC regulated futures and SEC regulated rights
- Employs an obligatory KYC policy
On the other end of the spectrum, YouHodler routinely runs security audits even though the platform isn’t under siege like BlockFi.
With that in mind, users can rest assured that YouHodler takes every precaution in the book by employing 2FA (two-factor authentication) to enhance its security, cold wallet storage, and ledger vault protection.
In addition to the above, the platform also has an SSL encryption in place as well as an IP whitelisting feature to enhance the user’s experience.
Winner –Draw
And again, we can’t separate the two as both platforms offer top-notch security services and best-in-class protocols and safety features.
Verdict – YouHodler
Both BlockFi and YouHodler are fantastic crypto platforms to use, trade, and earn interest on, and each have their own pros and cons.
YouHodler offers much higher interest rates on certain assets, while BlockFi limits it to 7.5%. The biggest downside to YouHodler is the ineligibility to US citizens, so if you’re based in the US, then BlockFi is the right choice for you. For those outside of the US, YouHodler is the better option.
Overall Winner –YouHodler
YouHodler wins with high interest rates, number of cryptocurrencies and its innovative features and solutions, like the Multi HODL. But if you’re based in the US, then BlockFi is the right choice for you.
Frequently Asked Questions
Still Researching?
If you are still trying to make up your mind about where to put your crypto, you can read my full review on BlockFi (here) and YouHodler (here) or have a look at my article on earning compound interest on your crypto.
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