Updated June 30, 2021

BlockFi vs Crypto.com

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Looking to earn interest on your crypto or get a crypto-backed loan? Find out whether Crypto.com or BlockFi is right for you, plus the pros/cons of each.

BlockFi and Crypto.com are two popular platforms that let you use crypto like real money.

Both offer:

  1. High-yield interest accounts
  2. Crypto-backed loans
  3. Cards that let you spend and earn rewards in crypto

They also let you buy, sell, and trade crypto, and conveniently manage your holdings. But which platform offers the best service? Read our detailed review to find out.

As of February 14, 2022, BlockFi Interest Accounts are not available in the United States. BlockFi is in the process of registering a new product, BlockFi Yield.

What are Crypto.com and BlockFi?

Currently based in Hong Kong, Crypto.com is an all-in-one crypto platform. It was founded in 2016, under the Monaco, by Kris Marszalek and Bobby Bao.

Compared to many other platforms, including BlockFi, they are unique in the sheer range of services they offer.

They have an extensive exchange, offering more than 70 cryptocurrencies and stablecoins for trade, with limit and margin trading, and full analytical tools. They also offer staking rewards, crypto-backed loans, a new marketplace for NFTs, and Pay - their own payment platform.

Crypto.com primarily makes their money from fees charged on loans, withdraws, debit card processing, and spread among others.

Compared to Crypto.com, BlockFi provides a much more targeted service, focused on crypto interest accounts. Founded in 2017 by Zac Prince and Flori Marquez, BlockFi is based in New York.

BlockFi does have a limited exchange, but the main services it offers are its BlockFi Interest Account and crypto-backed loans.

They currently offer 12 cryptocurrencies for trade, including several stablecoins. They also have a rewards card in the works that will allow users to earn 1.5% back in crypto on purchases.

BlockFi earns most of their money from interest paid on loans to various institutional borrowers. These loans are made possible by long-term deposits in user interest accounts.

Pros and Cons

Want the quick details? Here are the main takeaways for Crypto.com and BlockFi.

Crypto.com Pros & Cons

  • Full-service exchange
  • Lower fees, in general
  • Higher rates on interest accounts
  • More extra features (Pay, Wallet, NFTs)
  • Best rates require staking CRO
  • Loans not available in the U.S.
  • Undisclosed spread fee on exchange
  • Slow customer service response
  • May overwhelm new users

Choose Crypto.com if: You're more experienced with crypto; you don't mind holding + staking CRO; you want the lowest fees

Download: App Store, Google Play

BlockFi Pros & Cons

  • Better availability for loans
  • Gemini as custodian
  • No need to use native coin
  • Rewards credit card
  • User-friendly
  • Limited number of currencies
  • Non-transparent fees on exchange
  • Slow withdrawal times and withdrawal limits

Choose BlockFi if: You want a more beginner-friendly platform; you don't want to wait for returns on your crypto; you don't want to have to use a native coin

Download: App Store, Google Play

What Cryptocurrencies Do They Support?

The Crypto.com exchange currently supports 73 cryptocurrencies and stablecoins for trade:


They offer crypto-backed loans in 10 cryptocurrencies and stablecoins, with 15 coins currently accepted as collateral:


They offer interest payments against deposits of 35 cryptocurrencies and stablecoins:

  • BTC, CRO, ETH, USDT, USDC, DAI, PAX, TrueUSD, TrueAUD, TrueCAD, TrueGBP, ICON, LTC, Bitcoin Cash, Kyber Network, ALGO, Tezos, OMG Network, Stellar, Cardano, EOS, Binance Coin, Basic Attention Token, LINK, MAKER, PAXG, VeChain, ENJ, Compound, Celer Network, Decentraland, Elrond, Polkadot, Uniswap, Bancor

BlockFi supports 12 cryptocurrencies and stablecoins:

  • Bitcoin, Ethereum, Litecoin, Chainlink, PAX Gold, USDC, Binance USD, PAX, GUSD, BAT, DAI, UNI

Where are They Available?

Crypto.com is available in over 100 markets, with new ones added weekly. Much of their availability depends on the legality of cryptocurrency in a given region.

This article details the legality of Bitcoin by country.

Crypto.com is available in all U.S. states except New York.

The following U.S. territories can use Crypto.com's app, but do not have access to their cards:

  • American Samoa, Guam, Northern Mariana Islands, Puerto Rico, Virgin Islands.

BlockFi is available all over the world, except countries that are currently sanctioned or watchlisted.

It's available in all 50 U.S. states. Some residents will find their options limited, however. They do not currently have any trading pairs in:

  • New Mexico, Nevada, New York, Vermont, and West Virginia.

BlockFi Interest Accounts (BIA) are not available in the state of New York.


In terms of features, Crypto.com offers a much more full-service experience, while BlockFi focuses primarily on crypto interest accounts. Let's compare them in detail.

Cryptocurrency Exchange

Crypto.com and BlockFi both offer an exchange that allows users to buy, sell, and trade cryptocurrencies and stablecoins. The two main factors to consider are:

  1. The number of cryptocurrencies available and
  2. The fees incurred in trading

If you want the fullest range of currencies, go with Crypto.com, which offers 73 compared to BlockFi's 12.

Crypto.com's exchange also supports limit orders, margin trading up to 3x, and derivatives with up to 50x leverage.

Since BlockFi is best known for its crypto services like loans and interest-earning accounts, their trading platform is more of an afterthought.

When it comes to fees, Crypto.com comes out on top with lower trading and withdrawal fees. We'll cover the fees in greater detail further down.

The Takeaway
Based on their significantly wider range of options and lower fees, detailed below, Crypto.com provides a superior exchange to BlockFi.

Interest Earning Accounts

Investors looking to earn interest on their cryptocurrency assets will find opportunities at both BlockFi and Crypto.com.

BlockFi's Interest Accounts
These accounts are among BlockFi's main features, and what they're best known for.

Earn up to 7.5%, paid monthly, with no fees or minimum deposit, on 12 cryptocurrencies and stablecoins.

Keep in mind: Some currencies, like Bitcoin and Ethereum, decrease in earning potential as you deposit more.[1]

Crypto.com's Earn
This feature offers rates of return starting at 0.5% per year, going as high as 8.5% for cryptocurrencies like Bitcoin and 14% for stablecoins like USD Coin (USDC).

Rewards are paid weekly in USDC.

However, the highest rates do require some work to achieve. The rates are determined by length of the deposit term (Flexible, 1-month, or 3-month), and the amount of CRO you agree to stake for period of 6 months. Different amounts confer different bonuses.

Take Bitcoin, for example. The base rate is 1.5% for a Flexible Term and a CRO stake less than 400 USD in value.

A 1-month term earns 3%, and a 3-month term earns 4.5%. Stake $4,000 in CRO or more, and the rate goes to 6.5%.

The highest rate for Bitcoin, 8.5%, can only be earned by taking a 3-month term and staking $40,000 in CRO for 6 months or more. Meanwhile, a flexible term, even with a maximum stake, will only earn 2%.

The most you can earn on a flexible term with no CRO stake is 6%, on stablecoins.

Three-month terms will get you as much as 4.5% returns on Bitcoin and Ethereum without a stake, and 10% on most stablecoins. You can find an interactive calculator here.

The Takeaway
The bottom line here is that Crypto.com offers much better rates than BlockFi - if you can afford to invest in CRO and wait.

Remember that it requires a 6-month period for your staking to influence your returns, and they pay much better for fixed term deposits than they do for flexible ones.

BlockFi, on the other hand, does not have fixed terms or staking requirements, and their base rates are much higher than Crypto.com's. They do have 7-day withdrawal limits, but they are quite high (1,00 BTC, 5,000 ETH).

If you want the fair rates and the ability to start and stop earning at a moment's notice, choose BlockFi.

If you have the means to stake CRO and the time to spend, you'll ultimately find the best returns at Crypto.com.

Is lending my crypto safe?
There's always risk when lending your crypto. Companies like BlockFi and Crypto.com will attempt to minimize that risk through extensive security features, insurance, screening of borrowers, and requiring high ratios of collateral from those taking loans. However, there is no guaranteeing that factors beyond their control, either market crashes or security breaches, won't result in a loss of user funds. In the end, it's up to you to decide whether the risk is worth the reward.

Crypto Lending

Both Crypto.com and BlockFi allow you to borrow cash and coins against the value of your cryptocurrency with crypto-backed loans.

Keep these factors in mind when choosing a lender:
  1. LTV (loan-to-value) Ratio (the percent of your collateral that you can take as a loan)
  2. Interest Rates (APR)
  3. Available Currencies
  4. Repayment Term
  5. Availability
  6. Fees

BlockFi Loans
BlockFi's crypto-backed lending program is available in 45 U.S. states.

You can borrow USD, GUSD, and USDC for as much as 50% of the value of your crypto collateral, at tiered interest rates based on the currency and LTV ratio, ranging from 20% - 50%:

  • 50% LTV - 9.75%
  • 35% LTV - 7.9%
  • 20% LTV - 4.5% (available only for BTC-backed loans valued up to $20k USD)

New loans incur a 2% origination fee.

Crypto.com Loans
Crypto.com's lending services are less widely available than BlockFi's.

At time of writing, they're not currently available in the following places, including the U.S.:

  • American Samoa, Antigua & Barbuda, Curaçao, France, French Guiana, French Polynesia, Germany, Gibraltar, Guadeloupe, Guernsey, Hong Kong, Macedonia, Malta, Martinique, Monaco, New Caledonia, People's Republic of China, Reunion, Saint Lucia, Saint Martin, Seychelles, Singapore, Sint Maarten, St Pierre & Miquelon, Switzerland, United Kingdom, United States

For those who have access to the lending program, interest rates are based on LTV and CRO stake:

Initial LTVCRO Stake < 100KCRO Stake ≥ 100K
LTV = 25%2.00% APR1.00% APR
LTV = 33%6.00% APR4.00% APR
LTV = 50%8.00% APR6.00% APR

They support the following cryptocurrencies:


Loan minimums are currently set equivalent to 100 USD.

Retail users can borrow up to a maximum of 0.5 million USD equivalent.

Loan terms are 12 months.

The Takeaway
Ultimately, Crypto.com does offer better interest rates than BlockFi on crypto-backed loans, especially for those with large stakes in CRO. But their limited availability will mean that a large portion of investors won't be able to take advantage.

Debit/Credit Cards

Looking to spend crypto out in the real world? Both Crypto.com and BlockFi currently have, or are working on, cards that let you do just that.

BlockFi is partnering with Visa to offer their Rewards Credit Card.

It offers 1.5% back in crypto for every transaction. That Bitcoin will then be transferred automatically to a BlockFi Interest Account every month to earn interest.

Crypto.com offers a range of Visa cards that include increasing rewards based on holdings in CRO.

The most basic card, which doesn't require any CRO staking, offers 1% CRO cash back on purchases, and rewards increase in tiers up to 8% for those staking more than $400,000.

Other perks that become available with higher-tiered cards include Spotify, Netflix, Amazon Prime, Expedia, and Airbnb discounts; airport lounge access; bonus interest; and even private jet memberships for the highest stakers.

ATM withdrawal limits range from $200 to $1,000 a month.

A full list of card tiers and benefits can be found here.

Extra Features from Crypto.com

Crypto.com Pay
Available through their mobile app, allows you to use 30+ cryptocurrencies to pay at any merchant, buy gift cards, pay for mobile minutes, and send crypto to other people free.

Sending money can earn 10% rewards if you have a $10,000 stake in CRO, gift card bonuses range from 1.25% to 10% based on staking and industry, and mobile airtime purchases can earn 2.5% for non-stakers and 5% for those who do.

Crypto.com NFT
Recently Crypto.com added the ability to participate in the NFT (non-fungible token) marketplace to trade in limited edition digital art, hosted on the Blockchain.

Crypto.com Wallets
Crypto.com offers both custodial and non-custodial wallets.

The advantage of a custodial wallet is that traders aren't subject to network fees, as their trades are handled within the Crypto.com ecosystem.

DeFi, their non-custodial wallet, requires network fees to incentivize transaction processing on the Blockchain, but ensures that every trader is in full control of their private keys.

What Fees Do They Charge?

An important question when choosing what platform to use is always what it will cost you, and this usually means fees. How do they compare?

BlockFi Fees
BlockFi charges a few relatively straightforward fees:[2]

Withdrawal fees vary by currency:

  • Bitcoin: 0.00075 BTC
  • Ethereum: 0.02 ETH
  • Litecoin: 0.0025 LTC

BlockFi's crypto-backed loans incur an origination fee of 2%.

BlockFi charges an unspecified spread on crypto trades, which appears to range from 0.7 - 1.5%.

Crypto.com Fees
Because Crypto.com operates a full-service exchange, their fee structure is more complicated.[3]

Their Exchange users a tiered Maker-Taker fee structure, based on 30-day trading volume:

Level30D Trading Volume (USD)Maker FeeTaker Fee
Level 1$0 - $25,0000.4%0.4%
Level 2$25,001 - $50,0000.35%0.35%
Level 3$50,001 - $100,0000.15%0.25%
Level 4$100,001 - $250,0000.1%0.16%
Level 5$250,001 - $1,000,0000.09%0.15%
Level 6$1,000,001 - $20,000,0000.08%0.14%
Level 7$20,000,001 - $100,000,0000.07%0.13%
Level 8$100,000,001 - $200,000,0000.06%0.12%
Level 9$200,000,001 and above0.04%0.1%

Additional discounts are given for staking large quantities of CRO:

  • Staking ≥ 5,000 CRO: 10% off
  • Staking ≥ 10,000 CRO: 20% off
  • Staking ≥ 50,000 CRO: 40% off
  • Staking ≥ 100,000 CRO: 60% off
  • Staking ≥ 500,000 CRO: 70% off
  • Staking ≥ 1,000,000 CRO: 80% off
  • Staking ≥ 5,000,000 CRO: 90% off
  • Staking ≥ 50,000,000 CRO: 100% off

They offer discounted trading for VIP members, detailed here, as well as rebates for paying in CRO.

Crypto.com does not charge fees for deposits.

Like BlockFi, Crypto.com charges withdrawal fees based on cryptocurrency. Some examples:

  • Bitcoin: 0.0004 BTC
  • Ethereum: 0.004 ETH
  • Litecoin: 0.001 LTC

While it is unlisted, they also appear to charge a spread on trades, reportedly ranging from 0.25% - 0.5%.

Credit and debit card purchases of crypto will incur a 2.99% fee in the U.S. and most countries, and 3.99% in a select few. The full list can be found here.

Crypto.com credit cards vary by tier. However, none of them incurs monthly, annual, or delivery fees.

They all charge a 2% ATM withdrawal fee after a monthly limit, which ranges from $200 to $1,000.

They also charge:

  • Inactivity fee (12 months): $4.95
  • ACH return/decline fee: $15.00
  • Card replacement fee: $7.00 - $5.00 depending on card
  • Card upgrade fee: $50.00
  • Card load using credit card fee: 2.99%

Crypto.com Pay does not charge any transaction fees.

Lastly, users of the Crypto.com DeFi Wallet will incur network fees, not paid to Crypto.com, but to the Blockchain to incentivize transaction confirmation.

These fees will vary depending on traffic on the network. These fees can be avoided by trading on the Crypto.com App instead.

The Takeaway
Overall, Crypto.com charges lower trading and crypto withdrawal fees than BlockFi, except for purchases made with credit or debit card.


Crypto.com and BlockFi both go to extreme measures to ensure the security of your assets.


  • Insurance
    Users' cash funds are held in custodial bank accounts FDIC insured for up to $250,000

  • Cold Storage
    100% of user funds are held offline in cold storage; the only funds held in hot wallets are corporate

  • Multi-Factor Authentication
    Including password, biometric, email, phone, and authenticator

  • Address Allowlisting
    This feature is not only available but mandatory for withdrawals

  • Bug Bounty
    This ensures that hackers are incentivized to report security flaws rather than exploit them

  • Advanced Security and Privacy Protocols
    ISO/IEC 27701:2019; CCSS Level 3; ISO/IEC 27001:2013 and PCIDSS v3.2.1 Level 1 compliance; Tier 4 NIST Cybersecurity and Privacy Frameworks


  • Two-Factor Authentication
    Generated by an authenticator app

  • Address Allowlisting
    Users choose which wallets they want their cryptocurrencies available to be transferred to

  • PII Verification
    Ensures it's you using your account

  • Cold Storage
    The majority of user assets are kept offline in cold storage

  • Gemini as Custodian
    Gemini is one of the most security-minded cryptocurrency exchanges out there; they go to great lengths to protect user funds

    Gemini is SOC 2 Type 1 security compliant

  • Insurance
    Cash funds deposited with Gemini are FDIC insured for up to $250,000 per customer through custodial accounts

    Digital assets are insured against theft, as long as it is not determined to be the user's fault

In terms of security, Crypto.com and BlockFi appear comparably safe. Crypto.com does offer more options for the privacy-minded with their non-custodial wallets.

Have BlockFi or Crypto.com been hacked?
BlockFi was hacked May 2019 in a "SIM Swap Attack" targeting an employee's phone. The hacker gained access for roughly 90 minutes, and acquired customer names, email addresses, dates of birth, addresses, and activity history. They did not access any user funds.
Crypto.com has not been hacked to date.

Ease of Use

Due to the relatively straightforward nature of its services, BlockFi should prove quickly accessible, even to new users looking to trade, save, or borrow crypto. Their app and desktop sites have similar layouts, allowing traders to work with whichever they prefer.

Simply as a result of the number of features it has to offer, Crypto.com will be a little more intimidating to new users. Their exchange in particular closely resembles the sort used by professional traders, offering a wealth of information that may be lost on novice investors.

That said, thanks to clear labeling and helpful guidance built into their processes, new users should be able to get the hang of it without too much trouble.

Customer Support

Crypto.com offers 24/7 live support on desktop and through the app, but response times may be roughly 1 day. You can find an extensive knowledge base through their support page here.

Active BlockFi customers can receive phone support between the hours of 9:30AM - 5:00PM EST, Monday - Friday.

You can contact them via their website contact page, or through the "Help" section on their app. If their AI-bot is unable to answer your questions, and you can't find the answer in their Help Center, you'll be able to submit a ticket to their support team.

Bottom Line

On almost every front, Crypto.com outperforms BlockFi. Their exchange is bigger, their offerings far more numerous. They charge lower fees, and they have a range of features that BlockFi simply doesn't.

This includes their Pay feature, their NFT marketplace, and their non-custodial wallets for those willing to spend more in the name of privacy and direct control of their cryptocurrencies.

BlockFi does have a few things going for it, though. Its relative simplicity may make it appealing for those just getting into the crypto game, and it does offer support for the main cryptocurrencies that beginners will have heard of.

For residents of the U.S., U.K., and several other countries seeking crypto-backed loans, BlockFi offers service where Crypto.com does not. They also provide immediate access to good rates of return on their interest accounts, as opposed to Crypto.com which makes you wait 6-months and stake CRO.


  1. ^ "Interest Rates": BlockFi, 2021.
  2. ^ "Fees": BlockFi, 2021.
  3. ^ "Fees & Limits": Crypto.com, 2021.

Get Up to $250 in Bonus BTC

DepositCrypto Bonus
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Jeremy Harshman is a creative assistant at CreditDonkey, a crypto comparison and reviews website. Write to Jeremy Harshman at jeremy.harshman@creditdonkey.com. Follow us on Twitter and Facebook for our latest posts.

Note: This website is made possible through financial relationships with some of the products and services mentioned on this site. We may receive compensation if you shop through links in our content. You do not have to use our links, but you help support CreditDonkey if you do.

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