What are BlockFi and Celsius?

BlockFi and Celsius are the blue chips of cryptocurrency interest accounts. Both are at the forefront of decentralizing* the Big Banks, perhaps the most notorious of the cryptocurrency industry’s bogeymen.

What is BlockFi (BlockFi)?

BlockFi is a major player in the crypto lending sector and solidified in their $50M recent investment round. It is a type of financial management platform that offers market-leading financial tools to help crypto investors earn interest on their crypto and get USD funding through crypto-backed loans.

What is Celsius Network?

On Celsius Network, users are able to borrow dollars at rates below 1% and earn up to 10% interest on their crypto deposits. This platform also supports a number of other features, such as sharing revenue with holders of Celsius’s own proprietary token and the ability to send crypto to other users without the need for a wallet.

What is the difference between Celsius Network and stablecoins?

First of all, the rates of interest provided to Celsius Network users is much higher for stablecoins than traditional cryptocurrencies. Rates of interest paid out for traditional cryptocurrencies are usually less than 5%, while the rates for stablecoin interest accounts are 8.69% or more.