Lending crypto assets is one of the less risky and moderately rewarding any crypto guy may consider if he is into hodling for the long term. In this article, I would like to discuss the major takeaways of three market leaders in crypto lending services. This article will focus more on the investors' side, not on borrowers' perspective... so let's rock!
Let's keep it short and sweet: BASICS
Celsius
- Has native token Celsius (Cel) which has been skyrocketing with BTC since September 2020 ( from $0.4 to $2 [very impressive])
- Cel token is used on the platform to get higher interest on assets being lent and lower loan interest for borrowed assets
- Assets earn interest on a weekly basis including cel token
- Can be used only through mobile app. Website : https://celsius.network/
- Has more assets offering than Nexo and Blockfi see the list here
- Stable coin savings interest rate is highest of 3 platforms (if you choose to earn interest in form of cel)
- Lower int rates on altcoins that are offered on Nexo like XRP and XLM
- No fees at all (tested and proven)
- PROMOTIONS:
- Join Celsius Network using my referral code 1050879254 when signing up and earn $20 in BTC with your first transfer of $200 or more! #UnbankYourself https://celsiusnetwork.app.link/1050879254
- If you are already a registered user use the code DNS and get $25 for your next $200 asset transfer.
Nexo
- Has native token too Nexo that got its boost since the launch of Nexonomics: a series of upgrades on token utility and platform features, more info here: https://nexo.io/nexonomics
- Nexo token is used on the platform to get higher interest on assets being lent (+2% APY) and lower loan interest for borrowed assets
- Nexo Token does not earn interest but gets you a dividend. (30% of Nexo’s net profit is shared with NEXO Token Holders in the form of dividends)
- Assets earn interest on a daily basis (best of three platforms, more compounding effects)
- Can be accessed through mobile app and website: https://nexo.io or you may use my referral link https://nexo.io/nexo-card?referral=2siqAor&refSource=copy and order your Nexo card.
- Has lesser offer of assets availability than Celsius but more than Blockfi (Interest rates for alts are fixed at 6% pay +2% if you choose to earn interest in form of Nexo)
- Stable coins are fixed at 10% APY interest rate (+2% if you choose to earn interest in form of Nexo)
- No fees at all (tested and proven) Has some minimum in withdrawal (very low)
Blockfi
- Has no native token
- Best insurance on assets of the three platforms according to my research.
- Assets earn interest on a monthly basis.
- Can be accessed through mobile app and website: https://blockfi.com/?ref=ea5a40f9
- Has the least offered assets (BTC, ETH, LTC, USDT, USDC, PAX, PAXG, GUSD)
- No fees but you can only withdraw 1 crypto and 1 fiat in one month for free. Succeeding withdrawals within the month will be charged.
- BEST FEATURE: you may trade on the platform without any fee :)
CONCLUSION and SUGGESTION
So basically these 3 platforms have different features that we may use to maximize the return we get on our assets. I would suggest to keep your BTC and ETH on Celsius for it has the most competitive rates of three. You may keep your other alts on celsius or nexo depending on the interest rate, in my case my XLM and XRP are on Nexo. The only thing I want with blockfi is I am able to convert my crytpo (BTC, LTC, ETH) to fiat and transfer it to Celsius or Nexo with lesser fee. You know if you buy fiat via credit or debit cards, the fees sometimes are high, you could have saved that amount if you transfer LTC to Blockfi then trade it with fiat then withdraw your fiat to anywhere you want. Just remember to use this feature wisely for 1 fiat withdrawal only is free within a month :).
