Nexo vs. BlockFi vs. Celsius vs. Voyager vs. Crypto.com: Full Comparison & Verdict 2024

Nexo vs. BlockFi vs. Celsius vs. Voyager vs. Crypto.com: Overview

Nexo

Nexo is a cryptocurrency lending platform that began in 2018. It has over 4 million members and operates in 200+ markets, making it one of the most globally-available crypto interest products. Nexo combines the benefits of a cryptocurrency exchange with those of a more traditional financial institution. In addition to buying and selling tokens, you can borrow against your crypto assets or make everyday purchases with the Nexo Card. Nexo also offers its own governance token which unlocks a cashback loyalty program. If you want to earn daily interest on dozens of cryptos, Nexo is for you.

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BlockFi

BlockFi is another popular crypto lending platform that began in 2017. Like Nexo, BlockFi pays you interest for depositing different cryptos and stablecoins, and interest accrues daily and pays out monthly.The company also has its own crypto wallet, a simple trading interface, and BlockFi Rewards credit card that lets you earn crypto rewards for your spending. The big advantage of BlockFi is that you can borrow against your coins. Instead of selling them when you need funds, you can take out a loan. This avoids having to sell into a down market.

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Celsius Network

Celsius Network is a cryptocurrency lending platform that relies on blockchain technology. The company was founded in 2017 to provide services such as quick transactions, fee-free lending, and fair interest rates. It offers fewer coins for purchase than some of its competitors, so higher-volume traders may want to pair it with another cryptocurrency platform or exchange. But for cryptocurrency-backed loans and high-interest savings, Celsius is one of the best options you’ll find.

Voyager

Voyager is a crypto broker that offers a sleek mobile-first trading platform. The firm was founded in 2017 and it’s a publicly-traded company with headquarters in New York. With Voyager, investors can buy and sell over 60 tokens and coins. They can also access a variety of features, like interest-bearing crypto savings accounts and unique crypto rewards programs, all without the high fees found at other firms. When you invest through Voyager, you’ll pay nothing in commissions, which is a major benefit when compared to other cryptocurrency brokers.

Crypto.com

Crypto.com is a prominent cryptocurrency exchange with support for a range of crypto assets and blockchain-related products. Users can buy, sell, and trade an extensive list of currencies, and enjoy relatively low trading fees. Additionally, the company offers cryptocurrency credit cards, a decentralized exchange, a standalone crypto wallet, and an NFT marketplace. It also allows users to stake their crypto, or hold it in a Crypto.com wallet for a set period, to earn up to 14.5% interest.Crypto.com currently supports 250 currencies and offers advanced order types, and you can also trade crypto futures on its platform.

Nexo vs. BlockFi vs. Celsius vs. Voyager vs. Crypto.com: Full Comparison & Verdict

Key Information

Supported Cryptocurrencies

Currently, Nexo supports 40+ assets, including cryptos and stablecoins like:1inch, Bitcoin, Cardano, Cosmos, Dogecoin, EOS, Ethereum, Litecoin, Solana, SushiSwap, Uniswap, USDT and USDC etc.

BlockFi only supports 15 assets at the time of writing. This includes main cryptos like BTC and ETH plus popular altcoins like Chainlink and Dogecoin. But there are notable assets missing, like Cardano and Solana, that you get with Nexo.

Celsius supported  the following cryptocurrencies: Bitcoin, Ethereum, USDC, Gemini Dollar, Paxos Standard, LINK, BAT, COMP, UMA, SNX, AAVE, Bitcoin SV, Bitcoin Cash, Litecoin, Mana, Uniswap, Polygon, Livepeer, Kyber Network, Binance USD, Ethereum Classic, EOS, TrueCAD, TrueHKD, TrueAUD, TrueGBP, TrueUSD, USDT, 0x, DAI, PAX Gold, OMG Network, Stellar, Ripple, Dash.

Voyager offers users access to a vast range of coins and tokens. You can currently invest in the following crypto assets through Voyager: Cardano (ADA), Algorand (ALGO)Cosmos (ATOM), Avalanche (AVAX), Band Protocol (BAND), Basic Attention Token (BAT), Bitcoin Cash (BCH), Bitcoin Satoshi’s Vision (BSV), Bitcoin (BTC), BitTorrent (BTT), Celo (CELO), Compound (COMP), Dai (DAI), Dash (DASH), DigiByte (DGB), Dogecoin (DOGE), Polkadot (DOT),Enjin (ENJ).

Crypto.com supports more than 250 currencies for spot trading, with a subset supported for staking. Popular assets available on the platform include: BTC, CRO, ETH, XRP, LTC, EOS, XLM, USDC, ATOM, LINK, XTZ, BCH, VET, ICX, ADA, ENJ, ALGO, KNC, NEO, DAI, PAXG, BAT, COMP, OMG, MANA, QTUM, CELR, MKR, UNI, YFI, BAND, EGLD, WBTC, AAVE, DOT, REN, ONT, LRC, CRV, ZIL, GRT, BNT, KSM, SKL, NEAR, SNX, BAL, STX, DOGE, UMA, FLOW, SAND, ZRX, FIL, THETA, ANKR, MATIC, CHZ, OCEAN, WAVES, RLY, STORJ, HOT, 1INCH.

Interest Rates

Bitcoin:

Nexo offers a fixed 6% APY on all BTC deposits.

BlockFi uses a tiered interest-rate system for Bitcoin. In other words, returns depend on how much Bitcoin you hold. Although they slightly fluctuate, rates are around:

• 4% for 0 – 0.25 BTC;

• 1.5% for 0.25 – 5 BTC ;

• 0.25% for more than 5 BTC.

Celsius currently offers 6.2% APY for a user’s first BTC and 3.51% for any additional BTC.

On Voyager you’ll earn 5.75% APY on your BTC, but you have to maintain a minimum balance of 0.01 BTC to qualify to earn any interest.

Crypto.com's BTC interest rates range from as low as 1.5% to as high as 8.5%. The rate you earn will depend on the value of CRO you have in your account. Users need at least $40,000 in CRO to gain access to the best rates.

Ethereum:

Nexo offers its users 6% APY on ETH deposits.

BlockFi uses a tiered interest-rate system also for Ethereum. Current rates are:

• 4% for 0 to 5 ETH;

• 1.5% for 5 to 50 ETH;

• 0.25% for over 50 ETH.

On Celsius you’ll earn a 5.35% APY on your first 100 ETH and 5.05% for any amount over that.

Voyager offers 4.6% APY on ETH and requires a user to maintain a minimum balance of 0.5 ETH to earn interest.

Crypto.com's ETH rates range from 3.5% to 8.5% depending on how long a user commits to storing their funds on the platform and the value of CRO they have in their account.

Stablecoins:

Nexo provides a 10% APY on USDT, USDC, DAI, TUSD, HUSD stablecoins and 6% on PAXG. And a 10% APY on EUR, GBP and USD FIAT. You get 2% on top of that if you take your payout in NEXO token. So, overall 12% APY on stablecoins – not bad, huh? Unlike most other accounts, Nexo also allows its users to earn interest on fiat. Users can make 10% APY on EUR, GBP, and USD. And these rates increase by 2%, from 6 to 8% for crypto and from 10 to 12% for FIAT, if you choose to receive your rewards in their native NEXO token. However this option is not open for US citizens.

BlockFi’s tiered offerings give users 7.5% APY on stablecoin deposits (USDT, USDC, GUSD, PAX, BUSD) between 0 and 50,000, then 5%. The company offers 8.5% APY on Dai deposits between 0 and 50,000, then 6%.

Payouts and Withdrawals

On Nexo, interest is compounded daily, and they also offer 1 to 5 free withdrawals based on their Loyalty tier.

Your assets in BlockFi will begin accruing interest the day after you make your deposit. Interest is compounded monthly. BlockFi gives users one free crypto withdrawal and one free stablecoin withdrawal each month. Users can only use this free withdrawal on one currency, and BlockFi charges fees (below) with specific withdrawal limits per coin.

Celsius will pay investors interest once a week, every Monday. But what’s great is the fee-free withdrawals whenever you wish.  Users who want to withdraw more than $50,000 in a 24-hour period will just need to wait 24-48 hours for their transaction to process.

Similarly also Voyager pays out interest to investors monthly and even offers free withdrawals. However there’s a catch,  Voyager currently does not allow users to withdraw cryptocurrency assets– they must sell them for USD which is a taxable event.

Crypto.com pays out interest daily, though it doesn’t compound. The company charges a fee for all withdrawals that take place on-chain, but users can avoid these by using Crypto.com’s withdraw-to-app function.

Security

For Nexo, security begins with a $375 million digital asset insurance policy provided by several partners, including BitGo and Ledger Vault. It also has numerous account security features like wallet whitelisting and two-factor authentication.

BlockFi holds almost all users’ funds 95% in cold storage. These are managed by Gemini which holds a SOC certification, the risk of any external breaches is low to none.

Celsius uses a  security system called multiparty computation (MPC) to keep your holdings safe. This is what you would expect in the cryptocurrency interest account industry.

Voyager isn't as clear about its security practices. The company has FDIC insurance for up to $250,000 of its users’ USD funds. But, like every other cryptocurrency interest account provider, it doesn’t offer insurance for cryptocurrency assets.

Crypto.com partnered with Ledger to keep the vast majority of its users’ funds in cold storage. This reduces their exposure to internet-based attacks. The company also uses hardware security modules and multi-signature technologies.

Customer Support

Nexo maintain a support center with FAQs and other customer information. In addition, its support representatives are available 24/7.

BlockFi offers live phone support from 9:30 AM – 5 PM EST. It also has an online FAQ page customers can visit to get answers to common questions.

Celsius has a dedicated Help Center containing FAQs on deposits, withdrawals, and security. Users can also submit a help request and receive support via email.

Voyager’s customer support is a bit bare-bones. The cryptocurrency platform has an online contact form for its customers to fill out but doesn’t offer any additional contact methods.

Crypto.com has an online help center with answers to common questions. You can also reach out for customer service via email at contact@crypto.com, or within the app.

Verdict

Nexo vs. BlockFi vs. Celsius vs. Voyager vs. Crypto.com: Which Should You Choose?

It is honestly difficult to choose a winner between these five great companies. They all have different pros and cons, appealing to very different users. Ultimately, your choice depends on your peculiar needs.

Nexo is better for crypto support, and it usually pays higher interest rates. Voyager is tailored towards the mobile trading crowd, the zoomer buying crypto on his phone. Crypto.com has more products in its suite, which makes it a good option if you need to handle all your crypto needs on one platform.

If you're looking for a low-cost crypto platform and a credit card that offers bitcoin rewards, BlockFi could be a great choice. It could also be worth considering if you'd like to get cash from your crypto assets without having to sell them.

If you want the assurance that you'll always be able to withdraw your crypto free, you may want to open a crypto savings account with Celsius. It never charges withdrawal fees. It also doesn't charge origination fees or early termination fees on its crypto-backed loans.

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