Youhodler vs BlockFi - Which is Better? [2022]

Youhodler and BlockFi are both trustworthy Crypto Lending & Loan platforms in our opinion, but which one is the better overall? 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 once preferred BlockFi to Youhodler, 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 Youhodler is the better choice for us, and most crypto-savers.

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

Below you can 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 Youhodler 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 Interest on Deposits - Youhodler or BlockFi?

Youhodler offers significantly higher yields — however this comes with a small caveat — BlockFi offers yield on some crypto assets that BlockFi doesn’t currently — meaning while their rates for bitcoin, ethereum, and Stablecoins may be lower than Youhodler their rates on certain tokens may be higher simply because Youhodler doesn’t have them as an option currently.

With that being said, I’ve personally withdrawn all my bitcoin and ethereum from BlockFi as their rates are pathetic for them — instead they’re being lent out to earn interest on other platforms. We still have some funds with BlockFi, but it’s <5% of our cryptocurrency assets.

To sum it up — BlockFi offers pathetic interest rates 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 on other lending platforms, such as Chainlink. Youhodler is hands down better in this regard.

Which has less fees - Youhodler or BlockFi?

This category is slightly won by Youhodler — This is due to Youhodler having largely comparable fees to BlockFi, with one caveat — lower exchange fees.

When it comes to their internal crypto swap/trading thingy Youhodler has a much lower spread/fee when compared to BlockFi — generally Youhodler’s is around 0.2% while BlockFi’s is around 1% to 2%. Youhodler offers lower rates (better) on short-term crypto backed loans while BlockFi has slightly better long-term crypto backed loans.  

In terms of withdrawals, both platforms charge market-rates (well blockchain-rates), meaning they don’t make money from withdrawal fees — they’re more or less the same as each other and are based on what blockchain miner fees are.

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

This category is firmly won by BlockFi  — This is because Youhodler doesn’t really offer a sign-up bonus, but rather a small discount or bonus interest rate yield on your first deposit, while BlockFi offers up to a $250 sign-up bonus for new users, which is quite nice I must say — better than the majority of crypto-platforms. 

With that being said, you can sign up through this link to be eligible for BlockFi’s sign-up bonus — Generally BlockFi only has one sign-up bonus, and it’s that one, but you can check if they’re currently offering any other promotions in detail on our page about BlockFi’s current promotional offerings

As for Youhodler you can learn more about their sign-up bonus on our page about Youhodler’s current promotions, but basically you can sign up through this link and you’ll be eligible for 1% bonus interest on a coin of your choosing for I believe 30 or 90 days, depending on the current promotion, and sometimes a discount on fees.

Which is more Trustworthy - Youhodler or BlockFi?

This category is slightly won by BlockFi— Both Youhodler and BlockFi are regulated and seemingly 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 Youhodler is an EU + Swiss-based company regulated accordingly.

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) and Youhodler being relatively small compared to other platforms we prefer to keep the majority of our assets with other platforms currently — although we still keep many thousands of dollars with both Youhodler and BlockFi to this day.

What Advantages does Youhodler have over BlockFi?​

Youhodler has significantly better rates for Bitcoin, Ethereum, and most Altcoins deposits when compared to BlockFi, and marginally better rates on stablecoin deposits, while having comparable fees for the services they provide and pretty good security and trustworthiness — overall Youhodler seems seems quite a bit better than BlockFi currently but of course in time that can change. We’ll make sure to keep this up to date if things change.

If you think Youhodler is the right choice for you then you can sign up through this link — before you do that I’d also recommend checking out Hodlnaut, which also offers very good interest rates that are comparable to slightly higher than Youhodler in many cases. You can read our comparison of Hodlnaut vs Youhodler here and our comparison of BlockFi vs Hodlnaut here.

What Advantages does BlockFi have over Youhodler?

BlockFi is better if you’re a little more risk-adverse or want a long-term crypto backed loan, however Youhodler is generally better for earning the most interest on cryptoassets currently, so BlockFi doesn’t really win out in that regard, or really come close to being comparable if we’re being honest — we keep very little crypto earning interest with BlockFi currently as a result of this. 

With that being said, of course BlockFi also offers a superior sign-up bonus so if you want to go with BlockFi you can sign up to BlockFi through this link to be eligible for the up to a $250 initial sign-up bonus we mentioned before.

Youhodler vs BlockFi FAQ's:

Below we’ll cover all the Frequently asked questions we’ve encountered, been asked, or have asked ourself about Youhodler and BlockFi — If you have more questions feel free to contact us and we’ll get back to you ASAP — and maybe even add our response below. 

Can you buy Crypto on Youhodler or BlockFi?

You can buy crypto directly with both Youhodler and BlockFi in-app, however with Youhodler you must use a Wire transfer — so if you don’t want to do a wire transfer and prefer to use ACH transfers that are free to send then you’ll need to first deposit funds into a platform like Voyager and then send it over to either Youhodler. 

With BlockFi you can simply use their in-app ACH function, but keep in mind their trading/swapping fees are quite high compared to real exchanges so you’ll lose 1% or so using the service regardless — so you may prefer to fund via Coinbase or similar and then send over the funds anyway.

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

With Youhodler you have some insurance through ledger, however you may want to take out insurance via Nexus Mutual if you want further coverage, as the ledger insurance isn’t very comprehensive to be honest. With BlockFi you automatically have multiple types of insurance  that’ll protect you (and BlockFi of course) from all but bankruptcy or a catastrophic-tier breaches in security.  

Does Youhodler or BlockFi have better customer service?

We’d say Youhodler’s customer service is quite a bit better than BlockFi’s — they both have decent customer service but Youhodler’s is a bit faster due to them being a smaller company at this stage with less clients, but in time this may change of course. Both customer service departments seem quite competent, however BlockFi is a bit more corporate and thus less personal, making communication a bit harder at times.

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