Crypto Earning % APY Comparison: Blockfi, Celsius, NEXO [Updated 2021/04/27]

I was asked by several people who want to get into crypto "how come there is such a high %APY, even for stable coins (crypto version of fiat currencies - USD, EUR, GBP...)?"

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Positions summary

  1. Best if you want to earn high interest on a few coins (earn BTC on BTC, if you have less than 1 BTC): Blockfi. Use my referral code. Double-check the earning rates of Blockfi. I keep about 50% there.
  2. Best if you want to earn a lot of NEXO (which is appreciating fast) and you are based in Europe: NEXO. Use my referral code. Double-check the earning rates of NEXO. I keep about 5% there.
  3. Best if you have a lot of currencies and want to earn a piece of the company earnings: CEL. Use my referral code. Double-check the earning rates of Celsius. I keep about 5% there.
  4. I keep 15% active in trading accounts and online wallets.
  5. I keep 15% active in staking projects and launchpads.
  6. I keep 10% on offline wallet.

That distribution will definitely change over time.

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UPDATE April 27, 2021. Blockfi APY rates has fallen (see blow) and the transactions are super slow and expensive (can take up to 3 days to make a simple transfer - why even be in crypto?). I missed many critical trades because Blockfi is so slow. I'm moving most of my crypto to 1. ETH is Yield.app, 2. BTC and other big caps in Celsius, 3. Dabbling in Liquidity Providing in Uniswap, Beefy.Finance, Binance BETH/ETH and more).

My strategy and distribution

  1. Blockfi: I keep <1 BTC, <100 ETH, my LINK and most of my USDT on Blockfi, which is about 50% of all my portfolio. I love the Blockfi ability to trade on the platform instantly, so this is how I take profit and buy dips on BTC and ETH. I hate Blockfi slow withdrawal time and the fact that it takes a week to whitelist and address. Most of my ETH2.0 is staked with a 20% APY on Binance BTW, HODLING for the long term. I use Blockfi to ramp my fiat and distribute from there. Usually offloading ETH on my Metamask to invest in alts on Uniswap and lower caps on Binance. I have other crypto staked on native wallets, and some earning on Binance.
  2. NEXO: All the coins that are not listed on Blockfi or Celsius, I put on NEXO (True USD, DAI / MCDAI, HUSD, XRP, Stellar, BItcoin Cash, EOS, TRON, Binance, EUR (Fixed Term)). NEXO just improved its exchange.
  3. CEL: CEL, True CAD, True HKD, True GB, SGA, DASH, xAUT, ZRX, XLM, OMG. I don't really keep GUSD there (because I keep my USDT on Blockfi where I earn 9.3% APY and have good mobility).

I keep my "eggs" in several baskets, even if the APY is not the best, just to mitigate the possibility of a hack on any platform. I even keep some totally offline, doing "nothing".

I haven't got enough experience in DEFI, yield farming, providing liquidity or lending yet, but for those who want to earn a stable interest rate on your crypto, in a centralized way (read "not my keys, not my crypto"), that can be a good option that's reminiscent of the traditional banking system, with much higher APY. I must disclaim I have no experience leveraging, options, doing arbitrage, and beginning on launchpads so still a lot to learn! Nothing close to an expert!

Blockfi, NEXO, Celsius

NameBlockFiNEXO <10% in KindNEXO >10% earn NEXOCelsius Earn NativeCelsius Earn CELYieldWinner Native APYWinner Platform Currency APYComment
BTC
5
5
8
4.13
7.27
Blockfi
NEXO
- Blockfi 0-1 BTC has 6% APY, 1-20 BTC is 2%, >20BTC is 0.5% and ETH 0-100 is 5.25% APY. - NEXO if you hold >10% of your account in NEXO, you can earn 12% on your BTC in NEXO coin. So you may want to buy a lot of NEXO because the APY is really great
ETH
4.5
5
8
3.82
7.27
10
YLD
NEXO
LINK
4.5
5
8
Blockfi
NEXO
USDT (Tether)
9.3
8
12
8.05
11.02
10
YLD
NEXO
GUSD
8.6
8.05
11.02
Blockfi
Celcius
USDC
8.6
8
12
8.05
11.02
10
Blockfi
NEXO
LTC
5.5
5
8
4.13
5.62
Blockfi
NEXO
PAX
4
8
12
8.05
11.02
Blockfi
NEXO
PAXG
4
5
Blockfi
Blockfi
BUSD
8.6
Blockfi
Blockfi
True USD
8
12
8.05
11.02
Celsius
NEXO
DAI / MCDAI
8
12
8.05
11.02
Celsius
NEXO
HUSD
8
12
NEXO
NEXO
XRP
5
8
3.61
4.91
NEXO
NEXO
Stellar
5
8
3.83
5.19
NEXO
NEXO
BItcoin Cash
5
8
NEXO
NEXO
EOS
5
8
4.34
5.9
NEXO
NEXO
TRON
5
8
NEXO
NEXO
Binance
5
8
NEXO
NEXO
EUR (Fixed Term)
12
NEXO
NEXO
CEL
5.12
7.27
Celsius
Celcius
True CAD
8.05
11.02
Celsius
Celcius
True HKD
8.05
11.02
Celsius
Celcius
True GBP
8.05
11.02
Celsius
Celcius
SGA
8.05
11.02
Celsius
Celcius
DASH
6.18
8.43
Celsius
Celcius
xAUT
3.04
4.13
Celsius
Celcius
ZRX
2.89
3.92
Celsius
Celcius
XLM
2.53
3.43
Celsius
Celcius
OMG
1.51
2.05
Celsius
Celcius
YLD
10
YLD
YLD

PS 1: Given that the USD stable coins are indexed on the USD, I would prefer to shield my savings from USD inflation - but now USD stable coins have the most liquidity... If I find an Asian, Southeast Asian stable coin with good liquidity, I would rather use that as "reserve currency" for my personal savings.

PS 2: Crypto.com is not available to my jurisdiction (Hong Kong) so I did not include it in my comparison. Check Crypto.com rates, and let me know where it's competitive. I hear it's spectacular! https://crypto.com/earn

I got a bag of CRO just in case Crypto.com becomes available where I live one day - or we move. Crypto.com Credit card looks like it's the best. Nexo Credit Cards looks good. Looks like I will never receive my Blockfi Credit Card, I'm not moving at all in the waiting line.

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Crypto.com Earnings

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NEXO, Blockfi, Celsius Earnings

PS 3: If you want to earn in either NEXO or CEL, here is how these two coins are growing.

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NEXO picked up late but it's growing very aggressively in the last 3 months. CEL has been growing in steps, more slowly, but surely.

Over 1 Y, CEL APY is 6332% VS NEXO 3696%. Insane.

On a different note: "BlockFi remains one of the few retail-focused interest-earning platforms that is also domiciled in the United States, regulated under US law, and that's also institutionally backed and doesn't have a utility token. That's important–we play by the rules, to the benefit of our company and our clients." https://blockfi.com/blockfi-vs-the-competition-what-sets-us-apart-in-the-crypto-market

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The content of this webpage is not an investment advice and does not constitute any offer or solicitation to offer or recommendation of any investment product. It is for general purposes only and does not take into account your individual needs, investment objectives and specific financial circumstances. Investment involves risk.

UPDATE Apr 27, 2021: Blockfi Updated rates as of May 1, 2021 (not good news) - I'm moving most of my coins to Celsius and ETH to Yield.

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  • BTC 6% → 5%
  • ETH 5.25% → 4.5%
  • LINK 5.5% → 4.5%
  • LTC 6.5% → 5.5%
  • PAXG 5% → 4%

UPDATE Apr 27, 2021: Dabbling in Liquidity Providing (LP)

Additional Information

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