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BlockFi vs Kraken

BlockFi is a good custodian for earning interest on crypto. How does it compare to Kraken? Read our comparison chart below.

BlockFi offers cryptocurrency borrowing and lending services. While their exchange is quite limited, their main products are their interest accounts and crypto-backed loans. They also have a crypto rewards card.

While Kraken is a mainstream cryptocurrency exchange with over 50 coins to trade and a range of staking options with average rates. They support margin trading, indices, and futures trading. They have low fees, but users may find it challenging to fund their accounts compared to other platforms.

Compare BlockFi with Kraken, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.

 BlockFi
 Visit SiteLearn More
 

BlockFi

Kraken

SPECIAL OFFER
Get Up to $250 in Bonus BTC - Learn More

Read BlockFi Review

SPECIAL OFFER
Buy and Sell Cryptocurrencies - Learn More

Read Kraken Review

 

Benefits and Features

Minimum Deposit
$0
$10
Cryptocurrencies SupportedBitcoin, Ethereum, Litecoin, Chainlink, PAX Gold, USDC, Binance USD, PAX, GUSD, BAT, DAI, UNI
56
Countries SupportedWorldwide, except for countries that are sanctioned or watch-listed
Over 170
Fiat Currencies Supported
USD
USD, EUR, CAD, AUD, GBP, CHF, JPY
Digital Wallet
Yes
No
Transaction Fee
No
0.00% - 0.26%
Copy Trading
No
No
Limit Orders
No
Yes
Margin Trading
No
Yes
Spread
0.7% - 1.5%
 
Interest Accounts
Up to 7% (Not Available in US)
Yes, up to 17% APY
Crypto Loans
Yes
No
Bitcoin (BTC) Interest Rates
0.1% - 3%
 
Ethereum (ETH) Interest Rates
0.25% - 3%
 
Bank Account Purchase Fee
No
0.5% + $0.10
Litecoin (LTC) Interest Rates
0.1% - 3.75%
 
Debit Card Purchase Fee
No
3.75% + €0.25
Wallet Purchase Fee 1.5% or 0.9% for stablecoins & FX pairs
Credit Transaction Fee 
3.75% + €0.25
USD Coin (USDC) Interest Rates
4% - 7%
 
Mobile App
Yes
Yes
ACH Transfer Fee
No
 
Wire Transfer Fee
No
$4 - $35
Crypto Conversion Fee
No
1.5% or 0.9% for stablecoins
SEPA Bank Transfer Fee 
€0.09 - €35
Withdrawal FeeVaries based on cryptocurrency: 0.00075 BTC, 0.015 ETH, 0.001 LTC
Varies by coin
Other Fees2% Origination Fee on crypto-backed loans1-time address setup fees for first-time deposits of many cryptocurrencies, varies by currency
Address Allowlisting
Yes
Yes
Anonymity
No
No
Biometric Login
Yes
Yes
Cold Storage
Yes
Yes
Maximum Trading AmountSingle-trade limit of $1.2m USD or equivalent 
Two-Factor Authentication
Yes
Google Authenticator or Yubikey
Withdrawal Limit7-day Withdrawal Limit varies by cryptocurrency: 100 BTC, 5,000 ETH, 10,000 LTC.
Up to $5,000 USD via direct bank withdrawal
Depends on verification level. Cryptocurrencies - Beginner: $5,000 / day; Intermediate: $500,000 / day; Pro: $10,000,000 / day; Fiat Currencies - Express: $9,000 / day; Intermediate: $100,000 / day; Pro: $10,000,000 / day
Binance USD (BUSD) Interest Rates
4% - 7%
 
Dai (DAI) Interest Rates
4% - 7%
 
Gemini Dollar (GUSD) Interest Rates
4% - 7%
 
Paxos Standard (PAX) Interest Rates
4% - 7%
 
 

CreditDonkey® Reviews

 BlockFi
Cryptocurrency TradingStarStarStarEmpty StarEmpty StarStarStarStarStarStar
Interest AccountsStarStarStarStarEmpty StarStarStarStarHalf StarEmpty Star
Crypto LoansStarStarStarStarEmpty Star
Mobile AppStarStarStarStarHalf StarStarStarStarHalf StarEmpty Star
Commissions and FeesStarStarStarStarHalf StarStarStarStarStarEmpty Star
Ease of UseStarStarStarStarEmpty StarStarStarStarEmpty StarEmpty Star
ResearchStarEmpty StarEmpty StarEmpty StarEmpty StarStarStarStarStarEmpty Star
SafetyStarStarStarStarStarStarStarStarStarEmpty Star
Pros & ConsPros:
  • Earn crypto rewards
  • No commissions (only charges a spread)
  • Excellent customer service
Cons:
  • Only supports 8 coins
  • Withdrawal restrictions
  • Slow withdrawal times (up to 7 days)
Pros:
  • Advance market interface
  • Many trading pairs
Cons:
  • Not beginner friendly
  • Difficult to fund account
Bottom LineGood custodian for earning interest on crypto... Read full reviewGood crypto exchange with competitive fees and variety of coins... Read full review
 Visit SiteLearn More

Buy and Sell Cryptocurrencies

Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Please visit the product website for details.

BlockFi: Pricing information from published website as of 05/01/2022. BlockFi Interest Accounts are not available in the United States.

Kraken: Pricing information from published website as of 04/13/2021.

BlockFi

Get Up to $250 in Bonus BTC

DepositCrypto Bonus
$100 - $1,499$15
$1,500 - $19,999$20
$20,000 - $39,999$40
$40,000 - $74,999$75
$75,000 - $99,999$100
$100,000+$250

BlockFi

BlockFi Rewards Visa® Signature Credit Card

  • Earn 1.5% back in crypto on every single purchase.
  • No annual fee. No foreign transaction fees
  • Introductory offer: Earn 3.5% crypto rewards on all purchases in the first 90 days of card ownership, up to $100 in crypto.
  • Know if you're approved without affecting your credit score. A soft credit pull happens before you've accepted the credit card offer. A hard credit pull occurs when you've accepted your credit card offer, which can have an impact on your credit score.
  • Earn 2% back in crypto on every purchase over $50,000 of annual spend. Rewards rate increases from 1.5% to 2% after $50,000 of spend has been achieved and resets on the card anniversary date every year.
  • On top of the rewards you get from BlockFi, your BlockFi Rewards Visa Signature card gives you instant access to once-in-a-lifetime travel, fine wine and food, sporting events, shopping and more.
  • Your BlockFi Rewards Visa Signature card comes with 24/7 access to your Visa Signature® Concierge* for assistance booking travel, transportation, accommodations, event tickets—even restaurant reservations and golf tee times.
BlockFi

$250 Bitcoin Bonus When You Fund Your New Account

New BlockFi clients who sign up with a specific partner referral code and fund their account during the promotion period (current calendar month ending at 23:59:59 UTC on the last day of the month) are eligible to receive a tiered bonus paid in BTC.

To be eligible for the promotion, this must be your first ever transfer to the BlockFi Wallet and you must maintain a $100,000+ account balance through the 14th of the month at 23:59:59 UTC two and a half months from the month of eligibility in order to remain eligible.

Eligible payouts occur on or before the second Friday of every month on a rolling basis. The bonus will be paid in BTC based on the prevailing market price at the time of payment. Payout will be based on your average daily balance (USD equivalent) maintained through 23:59:59 UTC on the 14th of the month you are eligible to be paid on. Any withdrawals made before 23:59:59 UTC on the 14th of the month you are eligible to be paid out on may affect your tier.

There is a maximum of one bonus per client. This offer is not valid in conjunction with any other current or past promotions and the promo code on the account will be used to determine promo eligibility for new accounts.

Which is Better: BlockFi or Kraken?

Still need help deciding which crypto is better? Read the in-depth reviews below. You may also be interested in comparing BlockFi or eToro.

In short: BlockFi's mobile app, ease of use, and safety are notable. In particular, the safety is excellent. Kraken's cryptocurrency trading and research are worth mentioning. In particular, the cryptocurrency trading is impressive.


Articles on BlockFi

BlockFi

BlockFi lets you buy, sell, earn and borrow cryptocurrency. But is it safe? Read on to find out.

How Does BlockFi Work

BlockFi is a popular crypto platform offering high interest accounts and the ability to take loans against the value of your coins. Find out how it works.

How Does BlockFi Make Money

BlockFi lets you earn interest on your crypto and take loans against the value of your coins. But how does BlockFi make money? Keep reading to find out.

BlockFi Fees

Interested in taking advantage of BlockFi's interest accounts or crypto-backed loans? Before you take the leap, understand the fees they charge.

BlockFi vs Crypto.com

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 vs Nexo

Nexo and BlockFi both let you earn interest and take loans against your cryptocurrency. But which one is right for you? Read on to find out.

BlockFi vs Celsius

Celsius and BlockFi are cryptocurrency lending and borrowing platforms where investors can earn interest on their crypto holdings. But which is right for you?

Articles on Kraken

Kraken Review

Kraken is a cryptocurrency exchange with a reputation for low fees and high security. How do they compare to their competitors? Read on to find out.

Which Do You Think is Best?





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About CreditDonkey
CreditDonkey is a crypto comparison website. We publish data-driven analysis to help you save money & make savvy decisions.

Editorial Note: Any opinions, analyses, reviews or recommendations expressed on this page are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.

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