Last updated on July 30th, 2021
There are many platforms that allow you to earn an interest on your crypto.
With so many of them out there, which one should you be choosing?
The difference between Crypto.com and BlockFi
Crypto.com allows you to earn interest on a wider variety of cryptocurrencies compared to BlockFi. However, you are required to lock in your crypto for at least 3 months to earn the highest rates, while BlockFi allows flexible withdrawals at any time.
Here is an in-depth comparison between these 2 platforms:
BlockFi was founded in 2017 and is headquartered in New York.
They have more than 125,000 users on their platform.
Number of cryptocurrencies
Here are the different cryptocurrencies that you can deposit into either account:
Crypto.com allows you to earn interest on 36 different currencies
You are able to earn interest on 36 different cryptocurrencies on Crypto.com’s Earn!
This is quite comparable to the number of currencies available on Celsius.
However, the number of currencies that you can actually deposit depends on your country / region:
|Available Cryptocurrency||Supported Locations|
|BTC, CRO, ETH, LTC, XRP, BNB, BAT, LINK, MKR, DAI, PAX, ATOM, BCH, VET, ICX, ADA, ENJ, ALGO, KNC, eGLD, COMP, MANA||All|
|PAXG, TUSD, TAUD, |
TCAD, TGBP, USDC
|All except Singapore|
|EOS, XLM, XTZ, CELR, DOT||All except for the US states of Alabama, Connecticut, Georgia, Hawaii, Idaho, Louisiana, New Mexico, North Carolina, Oregon, Vermont and Washington.|
|USDT, OMG, UNI||All except the US.|
If you are in Singapore like me, you aren’t able to earn interest on most of the stablecoins, except for USDT.
BlockFi allows you to hold 13 different currencies
Meanwhile, BlockFi only allows you to deposit 13 cryptocurrencies into your account.
The number of cryptocurrencies that you can hold are much lower on BlockFi.
Crypto.com allows you to buy crypto on their app via 2 methods:
1. Credit / debit card
You can use your debit or credit card to purchase crypto on Crypto.com. This is usually the fastest way of purchasing any cryptocurrency.
However, you will be charged a fee by Crypto.com for making the purchase. For Singaporeans, you will be charged a 3.5% fee.
You may also be charged a CCY conversion fee by your bank as well!
Buying crypto via your debit / credit card is the most convenient. However, the fees can be rather exorbitant.
2. Fiat wallet
Crypto.com also allows you to directly purchase your crypto via your fiat wallet.
If you are a Singaporean, you are able to link your Xfers account.
For other countries, you are able to link your bank account to Crypto.com’s fiat wallet:
From there, you are able to purchase cryptocurrencies directly from your fiat currencies.
Crypto.com does not charge any transaction fees. However, they may earn from the spread.
The amount of crypto that you get for the same amount of fiat currency may be lower than the actual market rate!
BlockFi does not allow you to purchase crypto directly
You are able to transfer your USD via a wire transfer. The minimum deposit is $10.
You are unable to buy crypto using your credit card.
When you deposit USD into your BlockFi account, you will receive the equivalent in GUSD.
After depositing your USD, you can trade to other cryptocurrencies from your GUSD.
For Crypto.com Earn, you are able to choose between 3 different types of lock-in periods:
- 1 month
- 3 months
The longer you lock up your crypto with Crypto.com, the higher the interest rate you’ll receive.
BlockFi does not have any lock-in periods. This means that you are able to freely withdraw your crypto any time you wish!
As such, BlockFi can be considered to be more flexible compared to Crypto.com.
The main thing you’ll be interested in are the interest rates that either account offers you.
For both Crypto.com and BlockFi, the interest you earn is based on the currency that you own.
For example, you will earn interest in BTC if you are lending out the BTC that you own.
However, you are able to earn better rates on your crypto with Crypto.com Earn with a higher CRO stake.
You would need to stake an equivalent amount of your fiat currency to get the Jade Green Visa card or higher.
Here are the interest rates for some of the common currencies between these platforms:
(≤ Ruby Steel)
(≥ Jade Green)
APY stands for annual percentage yield. This takes into effect the compounding interest that you earn on your crypto.
Depending on the currencies that you own, one platform offers a higher interest than the other.
You can earn extra interest on your CRO if you stake it on Crypto.com’s Exchange
If you own CRO and want to stake it on the Crypto.com app, you can earn up to 6% interest on your CRO.
However, you are able to earn a higher interest (10%) if you stake at least 5,000 CRO on the Crypto.com Exchange instead!
You will need to stake your CRO for at least 180 days, before you are able to withdraw your CRO.
Interest rates may change
Like all other accounts, the interest that you earn on your crypto is not guaranteed.
Both accounts reserve the right to change the yields at any time.
For Crypto.com, they do not have a periodic review of the interest rates. As such, they may choose to change their rates at any time.
However for BlockFi, they will review their interest rates each month and make any changes accordingly.
How interest is being paid out
Crypto.com pays your interest by crediting it to your Crypto Wallet.
This means that you aren’t able to earn interest on your payouts. As such, Crypto.com’s Earn only pays out a simple interest to you each time.
BlockFi allows you to compound your interest
This is similar to how banks pay you.
The interest is credited to your BlockFi wallet, and it will continue to earn interest as well.
As such, your interest will be able to compound over time!
This is one advantage that BlockFi has over Crypto.com.
There is a minimum quantity of each cryptocurrency that you need to deposit to start earning interest for Crypto.com.
You can view the minimum required amount on Crypto.com’s help page. For some currencies, you may need to deposit a large amount of fiat currency to start earning interest!
Meanwhile, BlockFi does not have any minimum deposit. However, if you decide to only deposit a small amount, you may want to take note of the minimum withdrawal amount of 0.003 BTC and 0.056 ETH.
While you still can withdraw amounts lower than this minimum, the transaction may take up to 30 days to process.
Depositing your money via the blockchain
When you are depositing money into either account, you will be given a crypto wallet address to send your crypto to.
You can send your crypto from any exchange that allows you to do so. Some examples include:
It is very important that you only send crypto of the same currency to the wallet. If not, all of your crypto will be lost!
You will also need to make sure that the address that you’re sending to is exactly the same!
The string of letters and numbers are really long. If you make any mistake when typing out the address, your crypto will be lost forever!
As such, you may want to directly copy and paste the address instead.
No deposit fees
You are also not charged any deposit fees for either account.
However, you’ll need to consider the fees you’ll incur when sending your crypto from an exchange!
This depends on the exchange that you’re using, and some of them may be very hefty.
Some exchanges like Gemini allow you to withdraw up to 10 times each month without incurring any fees.
For Crypto.com, you are charged a fixed fee when you withdraw your crypto from Crypto.com.
You can view the full list on Crypto.com’s app,
and here are some of the fees that you’ll incur:
The fees can be pretty hefty, depending on the currency that you’re withdrawing.
BlockFi has one free withdrawal a month
Meanwhile, BlockFi allows you free withdrawals for each month:
- 1 free crypto withdrawal per month
- 1 free stablecoin withdrawal per month
This free withdrawal can only be applied to one currency only.
After that, you’ll be charged withdrawal fees which depends on the currency you withdraw:
These fees can eat into your returns! You may want to consider Celsius which does not charge any fees when you withdraw from your account.
If you are looking for a loan, you can take one from either platform:
Crypto.com has more flexible loans
Crypto.com allows you to deposit 14 different currencies as collateral,
and you can borrow your funds in 4 different stablecoins.
The interest that you pay depends on the amount of CRO that you’ve staked:
|Amount of CRO staked||Loan Interest|
BlockFi only allows you to use 4 currencies as collateral
BlockFi also allows you to take a loan on their platform.
You will need to select a collateral from 4 cryptocurrencies:
You can only take a loan in USD. This is more restricted compared to Crypto.com which allows you to take a loan using stablecoins.
The minimum amount you can loan from BlockFi is $10,000 USD.
The interest rate that you are charged depends on your Loan-To-Value (LTV) ratio:
Crypto.com’s Earn feature is found on their app,
while their Exchange platform is only available on desktop.
Here is BlockFi’s web platform,
and their mobile app.
If you intend to leave your funds with either account, you will be more at ease if they are secure.
So what measures do both of these accounts have?
Crypto.com uses Ledger Vault Technology
Crypto.com uses Ledger Vault Technology to manage your assets. This allows Crypto.com to securely and efficiently manage your funds.
Crypto.com also holds your assets in cold storage. This means that your assets are stored offline, so that hackers can’t get access to them.
Moreover, the funds that you have with Crypto.com are insured up to USD $360 million!
With such measures in place, Crypto.com is making sure that all of your assets stored with them are secure.
BlockFi uses Gemini as their primary custodian
To ensure that some of your assets are available to be withdrawn quickly, BlockFi leaves your assets under the custody of 3 institutions:
Gemini is BlockFi’s main custodian of your assets.
Majority of your assets on the exchange are stored in an offline cold wallet.
Moreover, the remaining funds in the hot wallet is insured.
Our policy insures against the theft of Digital Assets from our Hot Wallet that results from a security breach or hack, a fraudulent transfer, or employee theft.Gemini
It seems that Gemini’s owners are quite confident about the security of their platform!
As such, you can be reassured that your assets are rather safe with BlockFi.
Crypto lending is risky
The reason why both platforms are offering such high interest rates on your crypto is because this is quite a risky business.
Cryptocurrency is very volatile, and it may fluctuate in price by a lot!
The amount of crypto that you have in your portfolio really depends on your risk profile.
As such, you should decide if you are willing to take the risks when it comes to investing into any cryptocurrency!
|HQ||Hong Kong||New York|
|User Base||10 million||125,000|
|Number of Currencies||36||13|
|Fiat or Credit Card||Available (via Trading)|
|Interest Rates||In-Kind (Interest |
amount of CRO
|Accrual of Interest||Every week||Every 1st business day|
of the month
|Type of Interest |
|Minimum Deposit||Depends on currency||None|
|Withdrawal Fees||Depends on currency||1st withdrawal for both crypto |
and stablecoin are free
|Platform||Web (for Exchange) |
App (for Earn)
|Security||Ledger Vault |
|Gemini as primary|
So which platform should you choose?
Choose Crypto.com for a greater variety of currencies
Crypto.com allows you to earn interest on a large variety of currencies.
However, Celsius allows you to earn on even more currencies (38).
Crypto.com also allows you to buy crypto easily via your fiat wallet. As such, it is a more convenient platform to buy and hold your crypto.
Choose BlockFi for flexible loan periods and 1 free withdrawal per month
You are able to freely withdraw your crypto from BlockFi at any time you wish. This is much more flexible compared to Crypto.com, which locks up your crypto for 1-3 months!
Moreover, you are able to receive 1 free withdrawal each month. This will definitely help to reduce the fees you incur, as some withdrawal fees are really hefty!
Both accounts allow you to earn extra interest on your crypto.
Here are some things you’ll need to consider when choosing between both platforms:
- The type of currency you intend to earn interest on
- The number of withdrawals you wish to make
- How flexible you want your withdrawal period to be
👉🏻 Referral Deals
If you are interested in signing up for any of the products mentioned above, you can check them out below!
Crypto.com Referral (Get up to $25 USD worth of CRO)
If you are interested in signing up for Crypto.com, you can use my referral link and enter the code ‘x2kfzusxq6‘.
We will both receive $25 USD worth of CRO in our Crypto Wallet.
Here’s what you’ll need to do:
- Sign up for a Crypto.com account
- Enter my referral code: ‘x2kfzusxq6‘
- Stake enough CRO to unlock a Ruby Steel card or higher
The amount of CRO that you need to stake depends on the card you wish to get, and the currency you are staking in.
You can read more about the referral program on Crypto.com’s website.
Crypto.com Exchange Referral (Earn $10 USD- $50 USD in CRO)
If you are interested in creating a Crypto.com Exchange account, you can use my referral link and enter the code “x2kfzusxq6“.
Depending on the amount of CRO you stake on the Crypto.com Exchange, you are able to earn between USD $10 to USD $50!
Here are the amounts that you’ll need to stake to receive the bonuses:
|Amount of |
|1,000 – 4,999 CRO||$10|
|≥ 5,000 CRO||$50|
If you’ve already signed up for the Crypto.com app, you can still sign up for this bonus! This is because the Crypto.com App and Exchange are 2 different platforms.
Are you passionate about personal finance and want to earn some flexible income?