BlockFi vs Celsius Interest Account

Overview BlockFi vs Celsius Network Interest Accounts

(New York)
More than 30 currencies
including BTC, ETH, LTC
Interest RatesBTC (3-6%)
ETH (5.25%)
GUSD (8.6%)
and more…
BTC (4.74%)
ETH (5.05%)
GUSD (12.5%)
and more…
Interest PayoutMonthlyWeekly
Flex PaymentYes
(subject to 1% admin fee)
Only in-kind or in CEL
Account Withdrawals1 free crypto withdrawal
and 1 free stablecoin withdrawal
source: and
as of 12/21/2021

What do BlockFi and Celsius Network do with Your account assets?

Think of both BlockFi and Celsius Network as a bank. You deposit crypto into your account. They earn interests by loaning out these assets.

BlockFi generates interests by lending them to trusted institutional and corporate borrowers. Read more about how BlockFi does it here.

Celsius Network does the same by lending the assets to institutional and retail borrowers. Read more about how Celsius does it here.

BlockFi vs Celsius: Interest Rates

(0-2.5 BTC)
(>2.5 BTC)
(international users)
(US users)
Check here for latest ratesCheck here for more currencies and latest rates
source: and
as of 12/21/2021

BlockFi’s interest rates may be adjusted on monthly basis, depending on market conditions. Interest rates offered by Celsius are also subjected to change at any time.

From the above table, Celsius Network pays better interests for stablecoins. In a world where fiat currency earns less than 1% interest in the bank, how does Celsius pay so much on stablecoins? This article answers the question thoroughly.

A BlockFi staff from Reddit also shed some light on how they are able to pay the 8.6% interest:

We are able to pay the 8.6% interest out to our clients by lending those funds deposited out to our loan borrowers. Our loan borrowers borrow USD collateralized by a minimum of 200% of the loan value. For example, a borrower taking a $50,000 USD loan would need to collateralize that loan with $100,000 worth of Bitcoin or Ether. Additionally, we have a margin system set in place which request margin calls and liquidate collateral as necessary to ensure loan performance. To date, we have had a perfect payback record. Borrowers have a strong incentive to payoff their loans and interest given the excess collateral that we hold. Further, collateral liquidations may trigger undesirable tax consequences to that borrower as well.

from r/blockfi

BLOCKFI VS CELSIUS: Interest Payout and Flex Payment

BlockFi interest payment go out on the first business day of each month. With BlockFi, you have the option of choosing your payout in a different currency. E.g. If you hold BTC, ETH and USDC, you can opt for all interest to be paid in BTC, subject to a ~1% admin fee. Find out more here.

Celsius Network pays interest on a weekly basis. Interest is paid on every Monday morning. For international users, you can choose between in-kind interest or to be paid in CEL. The interest rates is higher when you choose to be paid in CEL. United State users does not have this option.

BLOCKFI VS CELSIUS: Account Withdrawal

BlockFi offers 1 free Crypto withdrawal and 1 free stablecoin withdrawal every month. Any further withdrawals are subjected to the fee listed here.

There is no restriction or lock up periods, so you can withdraw your fund any time.

However, withdrawal is not instant. Withdrawal are processed the next business day after a 24 hour security hold. During this period, you can still cancel the withdrawal. This security protocol is in place for the benefit of clients to protect your assets.

There is no withdrawal fee for Celsius network. Similar to BlockFi, there is no restriction or lock up periods, so you can withdraw your fund any time too.

Withdrawal in Celsius are done once you confirmed the withdrawal via email. After confirmation, there is no way for it to be canceled.


BlockFi uses Gemini as their primary custodian. You can read more about Gemini here.

Funds deposited into Celsius Network are held in their custodian, BitGo. Assets held under BitGo are insured for up to $100 million


With the bank interest rate at less than 1%, BlockFi and Celsius offers an alternative way to earn more interest.

BlockFi provides higher interest rate for BTC, ETH and LTC whereas Celsius offers very competitive rates for stablecoins. And Celsius also supports more currencies compared to BlockFi.

Personally, I liked that BlockFi has a flex payment option where I can switch all my interest payments to be paid in BTC. In a way, I am DCA-ing into BTC using the interest earned. I also liked the fact that they hold your withdrawals for 24h before processing it. I’m a HODL-er, so whether I get my money at T+24h later or not, it doesn’t matter that much for me.

That said, who can resist the high interest rates that Celsius provide on stablecoins? I do use Celsius to park some of my stablecoins. In a way, I am diversifying, between platforms. So should 1 go down, I still have some of my assets with the other platform.

At the end of the day, I would say, only use BlockFi or Celsius if you are comfortable with the risk that is associated with it. Otherwise, stay away.

Lastly, if you are interested in opening a BlockFi account, you can sign up via this referral link. You will get USD$10 in BTC when you deposit USD$100 or more into your BlockFi Interest account.

If you are interested in opening a Celsius account, you can sign up via this referral link. You will get USD$20 in BTC when you deposit USD$200 and hold it for 30 days in your Celsius account.

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