Lending is a great way to make passive income with your crypto assets. YouHodler is a popular platform for lending cryptocurrencies-backed loans. BlockFi is another popular option.
BlockFi is preferred by beginners and intermediate cryptocurrency investors, traders, and traders who aren't comfortable using any platform outside of the USA. It is unfortunate that YouHodler is not available to US users.
YouHodler is the best platform to trade crypto and other currencies outside the USA. It's suitable for both beginners and intermediate users as well as advanced users. YouHodler has better rates than BlockFi for savings, loans and fees, as well as lower fees. YouHodler also offers unique features like Multi HODL or Turbocharge.
YouHodler vs BlockFi - Supporting Assets and Crypto Loans
BlockFi loans can be taken out indefinitely. The minimum loan amount is $100. For loans of 30 days or less, the interest rate is 3%, for loans of 60 days or more, 5%, and 9% respectively for loans that last longer than 120 days.
BlockFi has fewer supported crypto assets than YouHodler. It does support four stablecoins (USDT, USDC and GUSD) and six cryptocurrencies (including BTC, ETH and LTC).
BlockFi allows you to get loans against your bitcoin holdings at as low as 4.5 percent interest rates. The loan amount for a minimum of $10,000 is allowed, while the maximum term is 12 month.
YouHodler and BlockFi do not allow you to stake native tokens.
YouHodler vs BlockFi: Earn Interest Rate Accounts (EIR), Lock-in Terms & Payouts
YouHodler offers the highest interest rates, as high as 12.3% per year. The interest rate is determined by how much bitcoin you keep in your YouHodler storage account.
For instance, the interest rate for cryptocurrency is the lowest and for stablecoins the highest.
(REP – 2.5 %, BAT-3 %, HT-3 %, and BSV-4.5 %
(USDT -12.3%, USDC 12 % and PAX 12 % respectively, and TUSD 12 %)
The interest rate for Bitcoin is 4.8 % and Ethereum is 5.5%.
YouHodler gives out interest every week. If you withdraw your money prior to the end of the week, you won't receive the interest. You can therefore make unlimited deposits and earn passive income for the rest your life.
YouHodler vs BlockFi - Products and Features Comparison
YouHodler and BlockFi have similar features and goods, with some exceptions. Let's now discuss the main features, goods and services of each platform.
BlockFi
BlockFi compensates for the lack of products available to ordinary investors by providing professional services for institutions. Let's take a look at BlockFi's features and offerings.
Interest Account
You can earn annual compound interest of up to 7.5% on your digital assets with adjustable lock-in terms that range from 7 days through 30 years.
Instant Crypto-Backed Loans
You can earn annual compound interest of up to 7.5% on your digital assets with adjustable lock-in terms that range from 7 days through 30 years.
Trade Account
You can use your digital currency to secure loans at interest rates as low a 4.5 percent. With BlockFi, you can borrow up to $10 million.
Services for Institutional Support
Trade six cryptocurrencies and four stablecoins to help customers profit from volatility in the cryptocurrency market.
Corporate Treasury Solutions
BlockFi's corporate Treasury solutions allow institutions to hold large amounts of crypto user funds and earn interest.
YouHodler
YouHodler offers a variety of products that will allow you to experiment with and achieve more with your crypto assets. Here's a list of YouHodler products.
Loans backed by cryptocurrency
You can use 20 of the most valuable digital assets as collateral to get loans up to 90% LTV. YouHodler offers loans in GBP (GBP), CHF, EUR, and USD.
Crypto Earn Interest Account
Stablecoins and other cryptocurrencies can earn you up to 12.30 percent interest with adjustable lock-in periods for one, three, and twelve months.
Exchange
You can trade more than 40 cryptocurrencies to profit from the volatility of digital assets. Use SEPA bank accounts or credit cards to purchase cryptocurrency.
Multi-HODL
YouHodler's Multi HODL allows you to enter a new era in trading. Trading with leverage up to 30x can help you increase your profits. Multi HODL combines cryptocurrency trading and CFD trading.
Turbocharge
Turbocharge allows you to multiply your collateral and obtain loans to make a series of price rises.
Bitcoin Wallet
YouHodler offers a Bitcoin wallet that allows you to store and purchase cryptocurrencies.
Fees Comparison
Platforms that use cryptocurrency often charge a borrowing fee. This is sometimes called a loan origination fees. It might be withheld by certain platforms.
Suppliers may charge a withdrawal fee in addition to the loan origination costs. This depends on the withdrawal method and the asset that you take out.
BlockFi charges a 2% origination charge for all loans, regardless of the LTV or interest rates. A withdrawal fee may also be assessed depending on the cryptocurrency asset. For Bitcoin, the withdrawal fee is 0.00075 BTC.
BlockFi's pricing structure differs from YouHodler. YouHodler charges loans
Close Now Fee - 1%
Reopen Fee: 1% + interest
1.5% Extended PDL
LTV to a 1.5% increase
Safety and Security Features
Security is an important consideration when choosing a cryptocurrency platform to purchase and deposit. XBO may have a strong commitment to protecting your privacy and valuables. XBO employs military-grade security measures, and collaborates with top security agencies to create a safe environment for you.
YouHodler, BlockFi and other platforms use the most advanced security methods to ensure that all users have a safe and secure experience. Let's compare the security protocols of these two platforms.
BlockFi
BlockFi, like YouHodler takes all necessary steps to improve platform security. It is governed by the US SEC and works under both federal and state laws. BlockFi offers several security features such as:
- It has third-party reserves with Coinbase, Gemini, and BitGo.
- It purchases securities that are subject to CFTC or SEC regulations.
- KYC is required.
- BlockFi uses these security features in addition to SSL encryption, two factor authentication, cold wallet storage and IP safe listing to enhance platform security.
YouHodler
YouHodler employs all security measures to ensure its users have a safe experience. These include:
- Multi-Factor Authentication - YouHodler recommends that users enable two-factor authentication for increased security.
- Cold Wallet Storage System - YouHodler uses a multisignature cold storage system for most of its users' money. This prevents hackers from getting to it.
- Ledger Vault Protection: YouHodler has partnered with Ledger Vault to offer $150,000,000 in pooled insurance against loss resulting from criminal activities and other destructive actions.
- YouHodler offers top-notch security. To make your experience more secure, YouHodler uses industry-standard security technology, such as SSL encryption and IP Safe Listing.
Conclusion: YouHodler vs BlockFi
YouHodler offers a higher compounding rate on certain assets than BlockFi. While BlockFi's is limited to 7.5 percent, YouHodler has a higher interest rate. YouHodler also has a more relaxed deposit requirement than BlockFi. You need to invest $100 in order to earn interest on savings accounts.
It is very unfortunate that US customers can't access YouHodler. If you live in the US, BlockFi can be a great option. If you live outside the US, YouHodler or BlockFi are great options.
Both platforms are great overall and you can choose one based upon your preferences.
There is Another Comparision, Check Coinbase vs Blockfi: Which Is Best For Crypto Trading
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