Bitcompare/BlockFi vs Celsius Network/

BlockFi vs Celsius Network

BlockFi and Celsius Network are two of the most popular crypto savings products in the industry. We've taken a closer look.

BlockFi and Celsius Network are the two leading providers of crypto savings accounts and loans. They both offer competitive rates, solid products and are established by great teams.

They’re headquartered in New York, they offer significant insurance on all assets and they’re improving at a breakneck speed to compete with each other.

The main difference between the two platforms is Celsius Network's native currency CEL. In order to receive Celsius Network's advertised rates, you need to pay or be paid in CEL tokens. Furthermore, you need to stake a minimum amount of tokens to receive this favourable rate and it comes in a 3-tiered system. As you can imagine, this is confusing at best and misleading at worst. BlockFi don't offer such confusing, or misleading options and instead pay or charge what they advertise and don't hide behind native tokens or tiered systems..

On a more positive note, CEL tokens have continually outpaced Bitcoin and many other assets in growth over the last 12 months. It is worth noting, however, that it could be a more volatile than using Bitcoin or stablecoins, so if you'd prefer to be paid in Bitcoin or a stablecoin, BlockFi could be a better option.

We’ve been using these products for the last 4 months to do a comprehensive comparison and list the pros of cons of each, so you don’t have to.

Important to note

  • Celsius Network requires native token for better terms
  • BlockFi has fees to withdraw assets
  • Both offer third party custody solutions

What is it?

BlockFi were one of the first to introduce crypto savings accounts and loans. They found instant success with a good product that offered very competitive interest rates.
Celsius Network is a leading provider of savings accounts and lending in the crypto industry. They have millions of users and offer some of the most compelling features and rates in the industry.

Core features

  • Insured, third-party custody from Gemini Custody
  • Easy to use website
  • Near instant decisions on loans
  • No credit checks
  • Very competitive interest rates on loans
  • Savings accounts and loans on Bitcoin, Ethereum, Litecoin and GUSD
  • Savings and loans on a large variety of crypto assets
  • 100 million USD insurance on each wallet
  • Easy to use apps
  • Near instant decisions on loans
  • No credit checks


  • No minimum amount on savings accounts
  • Insured wallets by AON and stored by Gemini which is regulated in New York, US
  • Created by experienced, reputable team with great backers
  • No need to stake native tokens in order to receive higher interest rates
  • No fees to set up, use or withdraw
  • Insured, third-party wallets from BitGo
  • Great apps that are very easy to use
  • Weekly compounding interest
  • Created by reputable team
  • Reduced interest rates on loans with CEL tokens


  • No app and very basic website
  • It can take up to 7 days to withdraw assets
  • Monthly compounding instead of daily or weekly
  • Withdrawal fees of 0.0025BTC
  • No apps
  • No website functionality
  • Requires native token to earn higher interest
  • Apps can be buggy

What is unique about it?

BlockFi were one of the first to introduce crypto savings accounts and loans. They found instant success with a good product that offered very competitive interest rates.
Celsius Network is offer a native cryptocurrency called CEL token. This currency has grown faster than Bitcoin over the last 12 months and they offer more competitive interest rates for both savings accounts and loans when using this native token.

How safe is it?

BlockFi offers security measures like two-factor authentication on their site. In addition to this, all their wallets are provided by Gemini Custody which is regulated in the US and provides insurance on all wallets.
Celsius Network’s wallets are stored and insured by BitGo. Each wallet is insured for up to $100m by Lloyds Insurance. The app also provides two-factor authentication.

Find out more?

BlockFi vs Celsius Network: The verdict

BlockFi and Celsius Network both offer compelling competing products, however, there are a couple of fundamental differences. In order to take advantage of Celsius Network's higher interest rates, you have to. use their native token, CEL.

Celsius Network also offer a mobile first experience and don't offer a website you can sign into. So, if CEL tokens are appealing and you'd prefer a mobile first experience, Celsius Network may be for you. For everyone else, we'd recommend BlockFi.

We find Celsius Network's tiered token staking misleading and confusing. In our opinion, Celsius Network deliberately mislead their users and pay significantly less than what most people expect when signing up.

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