Hodlnaut vs BlockFi - Which is Better for You? [2022]

Hodlnaut vs BlockFi Comparison

Hodlnaut and BlockFi are both trustworthy Crypto Lending & Saving platforms in our opinion, but which one is the better choice overall for you? We hope to give you the information you need to decide for yourself which is better for you — while elaborating a bit about our experiences using both platforms.

We used to prefer BlockFi over Hodlnaut, however more recently BlockFi has lowered it’s interest rates and stopped being as competitive as other crypto lending platforms, so while we still believe BlockFi has some good features (like their card) we overall think Hodlnaut is the better choice for us, and most crypto-savers.

With that being said we’d say it’s essential to use multiple platforms to diversify your risk in any one of them having any variety of issues — another good crypto-lending company to check out would be Nexo. You can read our comparison of Hodlnaut vs Nexo here and BlockFi compared to Nexo by clicking here.

Below you’ll find a jump-to section if you want to just get to a specific section right-away, but essentially we’ll start by going into which one is best for earning interest on your crypto followed by which one has lower fees both for withdrawals and trades on-platform.

After that we’ll briefly go over the current sign-up bonus offers Hodlnaut and BlockFi currently have, how trustworthy both platforms are (and how they’re regulated), before finally ending with a summary of it all and some FAQ’s.

Table of Contents

Which Offers the Better Yields on Deposits - Hodlnaut or BlockFi?

Hodlnaut offers significantly higher yields on deposited crypto — however this comes with a small caveat — BlockFi offers yield on many many more crypto assets than hodlnaut does currently — meaning while their rates for bitcoin, ethereum, and Stablecoins may be lower than Hodlnaut their rates on Cardano, Chainlink, Basic Attention Token, and the other tokens they allow you to earn interest on that Hodlnaut doesn’t support yet, well, they obviously provide higher yield on them.

With that being said, I’ve personally withdrawn all my bitcoin and ethereum from BlockFi as their rates are pathetic for them — instead they’re being lent out to earn interest on Hodlnaut and Celsius, as well as Nexo, who have relatively good yields on those assets. 

To sum it up — BlockFi offers pathetic-tier interest rewards on bitcoin and ethereum and we’d only lend out some Stablecoins with them (comparable to slightly lower rates than hodlnaut) to diversify who we earn interest from, and some other crypto assets that aren’t supported elsewhere, such as Chainlink.

Which has less fees - Hodlnaut or BlockFi?

This category is slightly won by Hodlnaut — This is because Hodlnaut offers a free crypto withdrawal once per month while BlockFi recently removed such offerings, now charging for all (crypto) withdrawals from our understanding. It’s not a big deal, as a withdrawal is still only $10 or so, but it’s worth mentioning.

When it comes to their internal crypto swap/trading thingy Hodlnaut has a much lower spread/fee when compared to BlockFi — generally Hodlnaut’s is around 0.2% while BlockFi’s is around 1% to 2% from our experience. While we don’t personally use such features much, that’s a huge difference if you do.

In terms of other fees Hodlnaut has absolutely none, while BlockFi has quite a few more — but that’s because they offer more services than Hodlnaut does currently. For example BlockFi has crypto-backed loans, while Hodlnaut doesn’t — BlockFi charges fees for this obviously, but so do all crypto-backed loan platforms.

Which Has The Best Signup Bonus Offers - Hodlnaut or BlockFi?

BlockFi wins this category slightly — This is because Hodlnaut offers a $20 sign-up bonus for new users, while BlockFi offers between $15 and $250 sign-up bonus for new users depending on the amount deposited. We say this is a slight win as truthfully most people will only be able to get $15 to $20 in sign-up rewards from BlockFi, due to the high deposit requirements for the larger bonuses.

With that being said, you can sign up through this link to be eligible for BlockFi’s sign-up bonus — no need for a referral code — and you can read about the promotions they’re currently offering in more detail on our page about blockfi’s current promotional offerings, but that link should give you the maximum-available sign-up bonus.

As for Hodlnaut you can learn more about their sign-up bonus on our page about hodlnaut’s current promotions, but essentially you can sign up through this link or the app and enter in our special code “Pp5zutEhQ” to receive the $20 sign-up bonus after depositing $1000+ in assets to Hodlnaut.

Which is more Trustworthy - Hodlnaut or BlockFi?

This category is more or less a tie — Both Hodlnaut and BlockFi are ultra-regulated and trustworthy, and we believe both companies are entirely legitimate — afterall BlockFi has received HUGE backing by venture-capital firms and is definitely well-capitalized, and Hodlnaut is regulated in Singapore which is the most stringent jurisdiction when it comes to financial services regulations — meaning they have to be audited continuously and have very strict security both for assets held with them as well as the methods they generate yield with.

Ultimately we’re comfortable keeping money with both platforms — however currently due to BlockFi’s bad decisions company-side (trying to generate yield via Greyscale’s Bitcoin Trust Premium) we do feel a little more comfortable with hodlnaut, however to be perfectly honest we don’t see BlockFi having issues staying solvent or protecting user funds — we just expect their rates will stay depressed for quite some time as they recover from such choices.

What Advantages does Hodlnaut have over BlockFi?

Hodlnaut has significantly better rates for Bitcoin and Ethereum deposits when compared to BlockFi, and marginally better rates on stablecoin deposits, while having lower fees for the services they provide and good security and trustworthiness — overall Hodlnaut seems to dominate in every category they’re currently in, being the most competitive and either best or comparable with the best in the industry.

If you think Hodlnaut is the right choice for you then you can sign up through this link, or enter code “Pp5zutEhQ” when signing up to be eligible for Hodlnaut’s sign-up bonus offer that we mentioned before — but essentially sign up and deposit $1000+ of crypto assets within 7 days of your first deposit and you’ll get the $20 bonus.

What Advantages does BlockFi have over Hodlnaut?

While it may seem like we’ve been harsh to BlockFi they have lots of advantages to Hodlnaut — they just aren’t as competitive on savings rates or fees — BlockFi has many other things that Hodlnaut currently doesn’t offer whatsoever, making them the better all-in-one platform.

For example BlockFi has a crypto-card offering that offers between 1.5% and 3% cash-back on all purchases with the card, and Hodlnaut has no such card — BlockFi also allows fiat deposits/purchases, while Hodlnaut currently requires you to onramp/offramp somewhere else and then deposit crypto assets (or stablecoins) to begin earning yield, rather than being able to ACH in and out of the account. 

BlockFi also allows you to take Crypto-backed loans out against your crypto assets, while Hodlnaut currently has no such offerings.

If you’re interested in the services BlockFi offers that Hodlnaut doesn’t we’d recommend checking out our comparisons of BlockFi vs Celsius and BlockFi vs Nexo, as both of those platforms offer these products that Hodlnaut doesn’t yet, and often are more competitive than BlockFi in these regards. With that being said, of course if you just want to go with BlockFi right now you can sign up to BlockFi through this link to be eligible for the up to $250 sign-up bonus.

Hodlnaut vs BlockFi FAQ's:

Below we’ll cover some of the FAQ’s we’ve encountered, been asked, or have asked ourselves related to Hodlnaut and BlockFi. If you have any other questions feel free to use our contact page to ask us and we’ll get back to you as soon as we can.

Can you buy Crypto on Hodlnaut or BlockFi?

You can buy crypto on BlockFi directly via ACH transfer, however you cannot buy crypto on Hodlnaut from your bank account currently — you’ll first have to funnel it through another exchange with ACH capabilities such as Coinbase.

Does Hodlnaut or BlockFi have insurance on your cryptoassets stored with them?

With hodlnaut you have the option to purchase 3rd party insurance via a decentralized finance protocal called Nexus Mutual directly on the paltform while with BlockFi you must do so via a private ethereum wallet, as they do not have such integration.

Does Hodlnaut or BlockFi have better customer service?

We’d say Hodlnaut’s customer service is a bit better ultimately both BlockFi and Hodlnaut’s customer service is acceptable — they’re both better than the average for cryptocurrency platforms and have competent support staff. Hodlnaut’s is a bit faster due to them being a smaller company at this stage with less clients, but in time this may change — but regardless both platforms have good customer service and support.