Hodlnaut Vs BlockFi : 7 Unique Crypto Lending Pros Cons

While searching for a platform where you can earn interest on your cryptocurrency tokens, you may find yourself having to choose between Hodlnaut and Blockfi. In that scenario, you are likely to find a side by side comparison of the two platforms useful. That is what you will be getting in this article.

We make a Hodlnaut vs Blockfi comparison on the basis of interest rates, security, supported coins, loans, payouts and customer support, among other factors. In some of these regards, Hodlnaut is better, while in some other regards, Blockfi is better.

Hodlnaut Vs Blockfi
Hodlnaut Vs Blockfi


What Is Hodlnaut?

Hodlnaut is a Singapore-based platform on which owners of cryptocurrency tokens can earn interest on those assets. It was set up in 2019, and as of this writing, it has about $500 million in assets under management. It also has about 10,000 users, as of this writing.


What is Blockfi?

Blockfi is a New Jersey-based platform on which owners of crypto assets can earn interest on them. It was set up in 2017, and as of this writing, it has about $15 billion in assets under management. Blockfi has more than 300,000 users, as of this writing.


Hodlnaut Vs Blockfi Interest Rates

Hodlnaut interest rates are generally higher than Blockfi interest rates. For the first 2 bitcoins, Hodlnaut gives a 7.46% APY. For between 2 and 8 Bitcoins, Hodlnaut interest rate is 4.08%. That falls to 2.02% for the next 90 Bitcoins. And for above 100 Bitcoins, the APY is 1%.

Turning to ETH, Hodlnaut pays 7.46% for the first 20 ETH coins. That goes down to 4.08% for the next 80 ETH coins. And for above 100 ETH, Hodlnaut pays 2.02%.

For DAI, Hodlnaut will pay you 8.32% APY for the first 25,000 coins. That goes down to 5.12% for the next 75,000 DAI coins. For the next 400,000 DAI after that, Hodlnaut’s rate is 3.56%. And for more than 500,000 DAI coins, the rate is 2.02%.

Turning to USDC, for the first 25,000 coins, Hodlnaut gives you a mouthwatering 12.73% APY. For the next 75,000 USDC, the rate is 7.25, while for the next 400,000 the rate is 3.56%. Finally for above 500,000 USDC, the rate is 2.84%.

For comparison, let’s check Blockfi’s rates. Between 0 and 0.10 Bitcoins, Blockfi will pay you 4.5% APY. For between 0.10 and 0.35 Bitcoins, Blockfi’s rate is 1%. Then for anything above 0.35 Bitcoin, you get 0.1% interest at Blockfi.

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With regard to ETH, for between 0 and 1.5 ETH, Blockfi pays 5%. That goes down to 1.5% for between 1.5 and 50 ETH coins. And for anything above 50 ETH coins, Blockfi gives you 0.25% APY.

Turning to DAI (and USDC), you find that for between 0 and 40,000 coins, Blockfi pays 9% APY. That goes down to 8% for anything above 40,000 coins.

Thus, in the Blockfi vs Hodlnaut comparison regarding interest rates, Hodlnaut wins – for the most part.


Hodlnaut Vs Blockfi Payouts

In Hodlnaut, the payouts are weekly. So on every Monday, the earned interest is added to user accounts.

Turning to Blockfi, the payouts are monthly. So on every first business day of every month, the earned interest is added to user accounts.

In this regard, Hodlnaut seems to offer a better deal. It is an issue that many Blockfi review articles may attempt to gloss over, but it is nonetheless important.


Hodlnaut Vs Blockfi Security

Both Hodlnaut and Blockfi employ stringent security measures.

Hodlnaut’s main custodian is FireBlocks. Blockfi’s main custodian is Gemini.

While they may be on an almost equal footing security-wise, it is worth remembering that Blockfi is a better established platform. It has been around for longer (since 2017 in comparison to Hodlnaut that has been in existence since 2019). 

It also has more users and more assets under management.

So the ‘sense of trust’ people have in Blockfi may be somewhat higher than in Hodlnaut.


Hodlnaut Vs Blockfi Loans

As an individual investor, you can apply for a loan from Blockfi. That option is really not there in Hodlnaut, which only gives loans to ‘institutional borrowers’.

Of course, this does somewhat lower Hodlnaut risks. That is because the Hodlnaut loan requirements seem to be more stringent. But on the downside, it means that Hodlnaut only allows you to earn interest on your crypto assets. But it won’t let you borrow against them.

Going through most Hodlnaut review Reddit articles, you see that this is a major downside.

With Blockfi, you can actually even get a credit card, through which to access the funds you borrow.

So this means that if you opt for a Blockfi savings account, you don’t have to sell your crypto coins whenever you need hard cash.

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You can take a loan against the crypto coins you have. And if you check through most Blockfi Reddit review articles, you realize that is quite a big deal.

The Blockfi credit card also comes with some cash back rewards deals.


Hodlnaut Vs Blockfi Customer Support

Both Hodlnaut and Blockfi seem to have decent customer support teams.

Because Blockfi is an older and bigger platform, users find that they have access to more online resources to sort out the various issues they may have. 

Indeed, even Hodlnaut review articles seem to be fewer than Blockfi review articles. And Blockfi Reddit threads on various issues also seem to be more.

But because the Hodlnaut community is smaller and tight-knit, that can translate into better one-on-one customer support.

Ultimately, with regard to customer support, Blockfi seems to have a slight edge.


Hodlnaut Vs Blockfi Withdrawal Fees

In Hodlnaut, all withdrawals have to be paid for. In Blockfi, you get at least one free withdrawal per month. And even after you exhaust your free withdrawal, Blockfi’s fees for subsequent withdrawals are quite low.

For instance, while for BTC the Hodlnaut withdrawal fee is 0.0004 BTC, in Blockfi the fee (after you exhaust the free withdrawal ) is 0.00075 BTC. So the difference is marginal.

So in this aspect of our Blockfi vs Hodlnaut comparison, Blockfi has an edge (because it does at least offer a free withdrawal).


Hodlnaut Vs Blockfi Mobile Apps

Both Hodlnaut and Blockfi have reasonably good mobile apps.

Blockfi’s apps have been in existence for longer. Therefore it has had more time to fine tune them. Hodlnaut’s apps are relatively newer.

There are also those who feel that Blockfi’s mobile app is easier on the eyes – though this is subjective. Nonetheless, it is a sentiment you may find while going through the various Hodlnaut vs Blockfi Reddit threads.

So if we are to do a Hodlnaut vs Blockfi comparison with regard to the mobile apps, Blockfi may have a slight edge.


Hodlnaut Vs Blockfi Supported Coins

Blockfi supports more crypto coins than Hodlnaut. By far. While Hodlnaut supported coins are just 6 (as of this writing), Blockfi supported coins are more than 12 in number.

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What the folks at Hodlnaut seem to have done is first figure out which the major/most popular crypto coins are. Then they begun with those: namely BTC, ETH, USDC, DAI, WBTC and USDT.

Blockfi supports all those. But on top of those, Blockfi also supports the likes of PAX, UNI, LTC and Binance USD, among others.

It is also noteworthy that you can buy crypto coins directly on Blockfi. That option is not there in Hodlnaut. In Hodlnaut, you only deposit coins you buy elsewhere.

So in the Blockfi vs Hodlnaut comparison with regard to supported coins, Blockfi wins.


Final Verdict – Hodlnaut Vs Blockfi

There are several ways in which Hodlnaut may be better than Blockfi. There are also certain ways in which Blockfi is better than Hodlnaut.

Hodlnaut Vs Blockfi
Hodlnaut Vs Blockfi

Hodlnaut pays generally higher interest rates. It also has weekly interest payouts (every Monday) in comparison to Blockfi’s monthly payouts (every 1st business day of every month). So in those regards, we may say that Hodlnaut is better than Blockfi.

On the other hand, Blockfi is a better established (and hence, to most people, better trusted) platform. 

It is also a platform where you can get a loan on your crypto assets. And it supports more crypto coins than Hodlnaut. Therefore in those regards, we may say that Blockfi is better than Hodlnaut.