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Youhodler vs Blockfi: The Pros, Cons and How they Compare

Wondering which crypto platforms are best for you? Learn more with our ultimate Youhodler vs BlockFi guide, where we compare all the pros, cons, and benefits.


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It wasn't that long ago that Bitcoin was considered a bubble. One that inspired plenty of skepticism and even disdain. But how things have changed over the past year!

Today, the interest in cryptocurrencies continues to grow exponentially as more consumers realize all that they have to gain through the buying, selling, and loaning of alternate coins. To say that blockchain tech and cryptos continues to garner internet is an understatement.

Today, the term cryptocurrency is defined as "a digital currency that is not a project of the state." Who's taking advantage of crypto investing these days? Thirty percent of the 18 to 34 crowd, 42 recent of millennials, and 15 percent of individuals 65 or older.

As cryptocurrencies continue to become a preferred investment strategy for Americans across different segments of the population, it's worth taking a look at different platforms and how they compare.

With that in mind, let's take a closer look at Youhodler vs. BlockFi.

What Is Youhodler?

Founded in 2018, Youhodler is a FinTech platform offering crypto-backed lending solutions. These includes services such as:

  • High-yield savings accounts
  • Creative asset unity solutions
  • Crypto, fiat, and stable coin conversions

Youhodler is based in Europe and offers loans in many currencies, including GBP, EUR, USD, and CHF. The company also deals in the top 20 cryptos for collateral and a variety of other services on its platform.

What kind of security does Youhodler provide for consumers? The company's assets are securely protected by Ledger Vault.

What is Ledger Vault? It's an advanced custody and security option, and the team has a strong background in FX/CFD trading, commercial finance, e-commerce, distributed ledger technology, and blockchain technology.

The Core Features of Youhodler

What are the core features of Youhodler? Features include the ability to open stablecoin and crypto savings accounts, earning up to 12 percent APR. You can also take out crypto-backed loans with a 90 percent loan to value (LTV) ratio, and you have the option of choosing from three different loan plus.

In terms of liquidity, you have access to direct to bank account withdrawals as well as bank card withdrawals. What's more the platform supports more than 14 coins, stablecoins, and tokens that you can earn interest on, and that interest is compounding.

Last but not least, Youhodler lets you take advantage of original crypto multiplication tools like Turbocharge and Multi HODL with fewer fees than margin trading platforms

As you can see, you've got plenty of options with Youhodler. But how does the platform measure up when it comes to pros and cons? Let's start by taking a closer looks at the benefits of using Youhodler.

What Is Blockfi?

BlockFi was founded in 2017 by Flori Marquez and Zac Prince. It began as a credit service for those holding crypto assets and has since expanded to become an independent lender. It has institutional backing from investors such as:

  • Galaxy Digital
  • Valar Ventures
  • Fidelity
  • Akuna Capital
  • Coinbase Ventures
  • SoFi

The company claims to be a "wealth management" platform with a self-described mission of "redefining banking." It offers products to crypto investors such as cryptocurrency-backed loans and savings accounts.

It also provides a full crypto exchange for customers interested in trading. BlockFi also claims to be the first and only crypto account providing trading and compound interest. But the company needs to update their website.

As you've already read above, Youhodler also offers these services, and no doubt, more platforms will do the same in the future.

The Core Features of BlockFi

At this point, you're likely wondering what the core features of BlockFi actually are. Let's take a closer look.

When you use the BlockFi platform, you'll gain access to crypto interest accounts for Bitcoins (BTC), Ethereum (ETH), USDC, and more. With these accounts, users can earn compounding interest of up to 8.6 percent annually, which is an attractive feature of the platform.

Which currency does Bitcoin let you trade in? Exchange crypto pairs exist between Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), USDC, and GUSD.

Crypto-backed loans through BlockFi boats a 50 percent loan-to-value (LTV) ratio, and a 4.5 percent interest rate for up to 12 months. There are no credit checks to get started, and

Who does BlockFi use as a primary custodian? Gemini.

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Pros and cons of Youhodler

Pros

  • High interest rates of up to 12% compounding
  • Supports top 15 cryptocurrencies
  • You can pay, store and exchange on the platform
  • Instant credit card and bank withdrawals
  • Minimum loans start at just $100
  • The highest loan to value ratio in the industry (90 percent)
  • Instant loans without any credit checks
  • No need to stake native tokens to get higher interest rates on savings accounts
  • A constantly growing list of collateral options (currently more than 20)
  • Four fiat currency options (USD, EUR, GBP, CHF)
  • Unlimited loan terms
  • Weekly interest payouts
  • The option to receive loans in Bitcoin (BTC)
  • $150 million pooled crime insurance from Ledger Vault
  • Creative tools like Multi HODL that help users profit in both bull and bear markets
  • Web, iOS and Android apps
  • 24/7 customer support with live agents

Cons

  • The platform isn't available in China or the United States
  • Individuals using the platform are also subject to higher fees on loans than you'll find with other options such as BlockFi
  • Lack of an insured custodian for user funds
  • Many Android users also complain that the app comes with plenty of bigs and glitches
  • High interest rates on long term loans
  • Reliance on a small self-established insurance fund

Pros and cons of BlockFi

Pros

  • Insured wallets by AON and stored by Gemini which is regulated in NYC, United States
  • Created by reputable team with highly regarded US based investors
  • Competitive interest rates with flexible, transparent terms
  • No need to use or stake native currencies to get higher interest rates
  • Monthly compounding interest
  • No requirements for minimum withdrawal
  • No monthly fees
  • A single free withdrawal per month
  • No minimum amount on savings accounts
  • Accepts USA citizens
  • Facilitation of earning interest, trading, and borrowing from a centralized hub using the BlockFi app
  • Bitcoin rewards credit card

Cons

  • One free withdrawal per month with a 0.0025 BTC withdrawal fee after that
  • Complaints of withdrawals taking up to seven days
  • Only three collateral options
  • Loan terms that are limited to 12 months
  • Only one option to receive a loan in (USD)
  • High minimum loan amounts starting at $5,000
  • Low loan-to-value (LTV) ratios of 50 percent

For these reasons, a growing number of individuals are choosing other platforms to work with such as Youhodler. Of course, your decision will be largely based on geography, particularly if you live in the United States or China.

Frequently asked questions about Youhodler

We’ve compiled some answers to questions we often get. Should you have any other questions, feel free to reach out below in the comments.

Where is YouHodler based?

YouHodler are based in Cyprus and have operations in Switzerland. Their Cyprus address is: Arch Makariou III, 172, Melford Tower, 3027 Limassol, Cyprus

Can YouHodler be trusted?

YouHodler is a real company, paying real interest, however, like all companies on this platform, we do recommend to always do your own research and only invest what you’re comfortable with. It’s also worth researching things like their LTV to determine how much loan risk they are exposed to when deciding which company to deposit your funds with or when taking a loan.

What products does YouHodler offer?

When you create an account with YouHodler, you gain access to two core products and two supplemental products. The core products are crypto savings accounts and crypto loans.

The supplemental products include Multi-Hodl and Turbocharge. Get more details about the platform's products and what they can do for you.

Who should consider using Youhodler?

The YouHodler platform delivers a well-rounded experience to customers. That means you'll find everything you could want as a crypto investor and owner in one spot. 

If you're looking for one place where you can handle all of your financial services, YouHodler offers solutions with its digital assets.

How does the Youhodler wallet work?

Designed for efficiency and simplicity, the YouHodler wallet lets you transfer your cryptos. You can also convert digital assets to fiat currencies and hold funds for investment. In terms of options, YouHodler offers wallet designs exclusively for Bitcoin and 14 other popular cryptos. 

Your YouHodler Wallet is where you'll manage a variety of features offered by the platform. You can keep track of everything from earnings to account balances here. The platform maintains partnerships with a handful of institutions to facilitate the HODLing of fiat currencies securely and safely. 

Through your YouHodler wallet, you can manage your investments, opening savings accounts, and loan applications and accounts.

Why apply for a loan through Youhodler?

What's one of the things that customers find most unique about YouHodler? Its ability to provide customers with loans. Consider these loans as a means of hedge financing. These loans also provide you with flexibility when it comes to accessing crypto trading markets. 

A crypto-backed loan through YouHodler also gives you access to fiat currency while still HODLing your crypto assets. It reduces the risk accompanying investment choices and provides you with more overall flexibility as an investor.

Frequently asked questions about BlockFi

We’ve compiled some answers to questions we often get. Should you have any other questions, feel free to reach out below in the comments.

How often does BlockFi pay interest?

BlockFi pays interest once a month, compounding on your previous month‘s interest.

Can I earn interest on fiat currency with BlockFi?

BlockFi doesn’t pay interest on fiat currencies, however, they do offer up to 8.6% APR on GUSD. GUSD is a stablecoin backed by US Dollars. This means that for every GUSD, it is backed by one USD. This is a great option for people who want the stability of a fiat currency like USD, but the savings interest rates of crypto currency.

Where is BlockFi based?

BlockFi is based in NYC, New York, United States. It’s team is based their and most of their investors and advisors are based in the United States.

Will applying for a BlockFi account hurt my credit score?

Absolutely not. BlockFi won't do a credit check on you because your loan is based on collateral. It won't effect your credit score at all.

Who can I contact if something goes wrong?

BlockFi offer real-time chat and email at support@blockfi.com. You can also call them on 646.779.9688

Can I earn interest in GBP or Euros with BlockFi

BlockFi only offers interest in GUSD, Bitcoin and Ethereum. They are, however, exploring other currencies in the near future.

Which countries does BlockFi support?

The BlockFi Interest Account isn't available to sanctioned or watchlist countries. It's also not available in New York, Connecticut, Washington, and Wyoming. BlockFi is available everywhere else.

Does BlockFi have Two-Factor Authentication?

Yes, BlockFi offers Two-Factor Authentication. It won't be set up by default, however, you can easily switch it on in the settings. If singing up with BlockFi, we highly recommend setting this up.

How often does BlockFi's interest compound?

BlockFi's savings accounts offer monthly compounded interest. If you withdraw within a given month, you will not receive the interest earned during that month.

Does BlockFi have an app?

Not yet, however, they tell us it's in the works and will be available in the coming months.

Is there a maximum amount I can deposit to BlockFi

No, BlockFi doesn't have any maximum deposits.

Does BlockFi have minimum deposits?

No, BlockFi don't have any minimum deposits.

Will I lose my interest for a given month if I withdraw?

No. BlockFi now offers to pay your interest on a pro-rata basis if you withdraw during a month in which you're earning interest.

How long does it take to withdraw funds?

It can take up to 7 days to withdraw funds, however, in practice it's usually in one business day

What is the duration of a BlockFi loan?

They are 12 months, however, there is no prepayment penalty.

Youhodler vs. BlockFi: The Takeaway

When you compare Youhodler and BlockFi, you'll see that both platforms offer attractive benefits. For this reason, it can be challenging to make a decision between these two platforms. Nevertheless, BlockFi remains the obvious choice for those based in the United States.

Youhodler isn't currently capable of providing services to these customers. That said, if you live in another part of the world, you should consider this platform.

After all, Youhodler's savings accounts come with attractive high-earning potential. They also offer innovative solutions and features such as Multi HODL.

When it's all said and done, YouHodler's interface is highly user-friendly. You'll find it convenient to use no matter your skill level. The platform makes it easy to HODL while earning and multiplying cryptos in one easy-t-use application.

When you combine this with Youhodler's excellent customer service options, top-tier security features, 90 percent loan-to-value (LTV) ratio, and consistent platform updates, BlockFi doesn't hold a candle to this platform.

BlockFi and Youhodler Review

That said, we expect to see BlockFi respond to these features, offering new applications, security features, and better rates. So, keep your eyes on both platforms in the year to come.

Are you interested in learning more about crypto platforms? If you don't know where to start, we've got you covered. Check out our comprehensive guide to different crypto platforms now.

  • Features
  • Ease of use
  • Security
  • Support
  • Reputation
  • Fees
  • Overall
  • 5
  • 4
  • 4
  • 4
  • 3
  • 3
  • 3.83
Go to site
  • 4
  • 5
  • 4
  • 4
  • 5
  • 4
  • 4.33
Go to site