Matrixport vs Celsius: Which Crypto Interest Account is Better?

Matrixport vs Celsius: Which Crypto Interest Account is Better?

Robert McDougall 

June 28, 2022

Cryptocurrency

Disclaimer: Celsius has filed for bankruptcy, and the information on this page is no longer relevant. If you are looking for a platform to earn crypto interest, here are our top recommendations:

Matrixport is a Singaporean-based crypto exchange platform founded in 2019 that manages over $10 billion in assets. Experts dub this platform as the ultimate online exchange that provides all sorts of investment tools, such as purchasing, selling, or trading crypto assets, as well as crypto lending, borrowing, and interest earning options.

While interest rates aren’t as competitive, Matrixport offers 15+ cryptocurrencies, interest-free loans, and is available to most countries in the world.

Celsius is a fantastic crypto interest platform as it offers outstanding borrowing, lending, and interest-earning options, while also providing robust DeFi services, and numerous perks if you use its native token.

Which one is better? That’s what we’re here to find out. Continue reading as we delve deeper into each exchange’s features, fees, security standards, pros and cons, and much more to help you decide which one you should go for.

Matrixport vs Celsius: Interest Rate Comparison

Header

BTC

3% APY

6.50% APY (First 0.1 BTC)

ETH

3% APY

6% APY (First 2 ETH)

USDC

15% APY

7.10% APY

USDT

15% APY

7.10% APY

Cell
Header

BTC

3% APY

6.50% APY (First 0.1 BTC)

ETH

3% APY

6% APY (First 2 ETH)

USDC

15% APY

7.10% APY

USDT

15% APY

7.10% APY

Cell

Matrixport vs Celsius: Comparison Table

Cell

Nunber of Coins

15+

46

Minimum Deposit

None

None

Withdraw Fee

BTC: 0.0005 BTC

ETH: 0.005 ETH

USDT (ERC-20): 10 USDT

USDT (TRC-20): 1 USDT 

USDC (ERC-20): 20 USDC

USDC (TRC-20): 1 USDC

Free

Pros

-  Various investment options available

- Mobile app available

- Instant crypto purchase options

$50 FREE Bitcoin bonus

- Higher interest rates if paid in CEL token

- $30 million insurance package

Cons

- Not available in the USA

- Can only be operated via app

- Not many coins available for purchase

- No crypto exchange and limited trading through 3rd party vendors

Website

Matrixport vs Celsius: Comparison Table

Cell

Number of Coins

15+

46

Minimum Deposit

None

None

Withdraw Fee

BTC: 0.0005 BTC

ETH: 0.005 ETH

USDT (ERC-20): 10 USDT

USDT (TRC-20): 1 USDT 

USDC (ERC-20): 20 USDC

USDC (TRC-20): 1 USDC

Free

Pros

-  Various investment options available

- Mobile app available

- Instant crypto purchase options

$50 FREE Bitcoin bonus

- Higher interest rates if paid in CEL token

- $30 million insurance package

Cons

- Not available in the USA

- Can only be operated via app

- Not many coins available for purchase

- No crypto exchange and limited trading through 3rd party vendors

Website

Pros
  • Instantly buy and sell cryptocurrencies
  • Incredible security and safety standards
  • Huge 15% APY on stablecoins
  • $15 USD FREE bonus when you sign up with our link and deposit $300
Cons
  • No desktop application
  • Not available in the USA
Pros
  • Earn interest on 46 coins
  • Free $50 BTC sign-up bonus
  • Competitive yields on crypto interest
  • No crypto withdrawal fees
Cons
  • Not many coins and tokens available for purchase
  • Withdrawals, swaps, and transfers paused after huge market volatility

Matrixport vs Celsius Features 

Matrixport is an all-in-one crypto platform that offers numerous ways to earn money on your crypto. It’s based in Singapore and provides various services, such as crypto buying and selling, crypto loans, structured crypto financial products, and crypto interest earning options.

For those looking to earn interest on their crypto, you can earn a massive 15% APY on stablecoins using Matrixport's fixed income product. If you sign up with this link and deposit $300 or more into the 15% APY account, you also receive a bonus of $15 USD FREE. This high yield is unseen on other crypto platforms.

Matrixport doesn't charge any fees for their instant trading options, and they offer plenty of helpful resources and FAQs for beginners. This makes it easy for anyone to get started on Matrixport, even if you have little experience with crypto.

The platform has a mobile application that is available for Android and iOS users and is incredibly easy to use. The drawback of Matrixport is that it can only be operated via the mobile app, and not via desktop. However, this shouldn't be any issue for most people, who use their mobile for most things.

Celsius Network as a platform is a bit limited but still offers fantastic borrowing, lending, and interest earning features. It excels by providing robust DeFi services and is accessible via desktop, as well as Android and iOS apps. You will instantly get approved for loans, and you’ll also receive rates at a discount. The span of DeFi services on offer at Celsius exceeds all expectations.

Moreover, if you invest in Celsius’ native token CEL, you’ll gain access to bonus rewards, ranging from 5% to 25%, depending on the loyalty level. You can also receive higher interest rates if you choose to be paid in CEL token.

The main drawback on Celsius is that it doesn’t operate its own exchange. Instead, it’s partnered up with third party exchanges for buying, selling, and depositing assets. This limits the number of coins you can purchase to less than 20, even though you can earn interest on almost 50 coins. 

Winner - Matrixport

Matrixport wins this round, with free buy/sell functionality, and high yield of 15% APY for stablecoins.

Matrixport vs Celsius Fees

Matrixport offers one free crypto withdrawal per month, and depending on your loyalty, you can receive extra withdrawals. Gold and Silver members have access to two free withdrawals per month and Premier/Platinum members receive three.

After you have used up your free withdrawals, there is a cost, which depends on the crypto you choose to withdraw.

Matrixport doesn't charge any fees for the following services: crypto deposits and crypto trading. Fiat withdrawals, on the other hand, are subjected to a maximum of $30 charge, while a 3.5% fee is applicable if you buy crypto via debit or credit cards.

Celsius excels in this category as it has no minimum balance requests, no loan origination fees, or transfer fees.

Moreover, there are no deposit and withdrawal fees or early termination fees. The main reason behind the fee-free zone at Celsius is that the platform makes its profits through its borrowing and lending services.

The drawback is the third-party crypto exchange partnership which is the reason why users are subjected to certain fees as well as deposit restrictions.

Winner - Celsius

Celsius wins as they have many fee-free operations, including free crypto withdrawals.

Number of Cryptocurrencies

Matrixport only supports 15+ cryptocurrencies, including the popular ones like Bitcoin, Ethereum, USD Coin, and USD Tether.

Celsius supports more than 46+ coins, which is significantly more than Matrixport.

Winner - Celsius

Celsius offers almost 50 different coins that you can earn interest on, while Matrixport only has a limited range of 15+.

Matrixport vs Celsius Security

Matrixport and Celsius are relatively young platforms founded in 2019 and 2017, respectively. Regardless of the age, both employ state of the art security protocols and adhere to all regulations and standards.

Matrixport uses a cold wallet offline storage system in custody of Cactus Custody and a vault grade security while also adhering to AML guidelines. Users’ assets and data are safeguarded by S-SDLC and ISO 27001 security standards, and the application is secured with a two factor authentication (2FA) and fingerprint scanning option.

All operations conducted on this platform require the verification of your identity, making your account even more secured.

Celsius has six certifications in place, including network monitoring 24/7 throughout the whole year, ISO/IEC, cyber intelligence, and incident response experts. It also closely follows all of the latest cryptographic trends and innovations.

Furthermore, the app is secured with two factor authentication, a whitelisting feature to list pre-approved addresses, and a unique HODL mode, which enables you to block all withdrawal activities when you activate it.

In addition to this, Celsius also has biometric security in place and photo or video verification for all wallet actions.

Winner - Celsius

While both platforms utilize intricate and pioneering security standards and protocols, Celsius’ security fortifications in place are much better compared to Matrixport. This is probably the most crucial aspect, and while Celsius wins this one, it’s good to know that both companies are in line with the latest safety practices.

Verdict - Matrixport

Matrixport is an all-in-one type of crypto platform and provides you with various ways for you to invest and earn on crypto. It has an intuitive and easy to navigate mobile app and packs quite a few security measures to safeguard your data and assets. Using this platform will allow you to safely grow your portfolio, increase your earnings, and not worry about your account being compromised. 

Celsius, on the other hand, while it has more cryptocurrencies on offer, has suffered from some negative press in June 2022. During a period of huge crypto market volatility, when prices were plummeting, Celsius paused all withdrawals, swaps, and transfers. This can be unsettling, since your cryptocurrency can be stuck within Celsius' platform, with no way of retrieving it.

This is why we recommend Matrixport as a better choice, as it has not had any issues with preventing users access to their funds. 

Overall Winner - Matrixport

Matrixport wins with free buy/sell functionality, excellent security, and high 15% APY on stablecoins. Click here to receive $15 FREE USD when you deposit $300.

Still Researching?

If you are looking for other places to earn interest on your crypto, you can have look at our review on Matrixport (here) and Celsius (here), or this article on the best crypto interest accounts.

Marketplacefairness.org provides all its content for informational purposes only, and this should not be taken as financial advice to buy, trade or sell cryptocurrency or use any specific exchange. Please do not use this website as investment advice, financial advice or legal advice, and each individual's needs may vary from that of the author. This post includes affiliate links with our partners who may compensate us. 

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