I took the time to personally sign up for both these exchanges and test them out to give you an honest, unbiased review if you're looking to buy or store crypto.
In this article, we'll compare features & benefiting like fees, interest rates, security, ease of use, and other factors that help you make the best decision with your crypto.
Table of Contents
- Interest Rates (Updated: July 2021)
- Account Approval and Deposit Wait Times
- Referral Program
- The Final Verdict
Interest Rates (Updated: July 2021)
BlockFI and Voyager offer competitive interest rates for storing your crypto assets on their platform.
|Bitcoin (BTC)||5% (0 to 0.5 BTC) – 2% (0.5 to 20 BTC) – 0.5% (20 BTC and above)||6.25% (0.01 minimum)|
|Ethereum (ETH)||4.5% for 0 to 15 ETH (2% for 15 to 1000 ETH; 0.5% for 1000 ETH or more||5.25% (0.5 minimum)|
|Basic Attention Token (BAT)||N/A||2% (300 minimum)|
|Cardano (ADA)||N/A||5.25% (100 minimum)|
|Chainlink (LINK)||4.5%||4.6% (10 minimum)|
|Compound (COMP)||N/A||4% (1 minimum)|
|Cosmos (ATOM)||N/A||3% (20 minimum)|
|Dogecoin (DOGE)||N/A||2.25% (1,000 minimum)|
|Litecoin (LTC)||5.5%||5.6% (2 minimum)|
|Polkadot (DOT)||N/A||8% (200 minimum)|
Voyager offers many more crypto assets than BlockFI and doesn't use tiered interest rates on Bitcoin and Ethereum.
On the other hand, BlockFI offers far fewer crypto assets but doesn't use minimums.
I think Voyager makes it easier to earn interest on your crypto with their low minimums, high interest rates, and easy 1-click opt-in process.
How to Earn Interest with BlockFI and Voyager
The good news is you don't have to join a staking pool to earn interest on your crypto with these exchanges.
Blockfi allows you to automatically opt-in to their interest program by holding crypto on the platform. You can choose to either receive interest in the same crypto or in a different way like stablecoin () or another crypto asset.
Voyager makes it even simplier to earn interest. All you have to do is opt-in to the interest program by clicking a link.
Go to Account -> Crypto Interest -> Set to Currently Earning Interest
Account Approval and Deposit Wait Times
Signing up for BlockFI and Voyager was a pretty simple process although Voyager took longer to verify my ID.
You need to upload either your passport or state ID for both platforms to unlock full features.
BlockFI allows you to fund your account by bank transfer, wire transfer, or crypto transfer. I linked my bank account using Plaid then deposited funds to buy Bitcoin easily.
When it comes to security, you really need to utilize all available security measures to protect your crypto account from thieves and hackers.
BlockFI and Voyager both use Two-Factor Authentication (2FA) security measures to protect your account. You can link your 2FA to the Google Authenticator app to require a 6 digit security code for every sign-in attempt or withdrawal. This is good standard practice and you should always enable this feature.
BlockFI offers a great security feature called Whitelisting. With Whitelisting enabled, withdrawals cannot be sent to unknown addresses. If you don't add any addresses then withdrawals are prohibited. Any new addresses will be disabled for the first 7 days.
Voyager doesn't offer Whitelisting, which makes BlockFI a bit more secure in my opinion. If you're looking for the most security for your crypto then BlockFI wins due to the ability to block withdrawals and whitelist specific addresses.
If you want to earn free Bitcoin for referring your friends, family, co-workers, and social media followers to sign up for a crypto account then you'll be excited to hear that BlockFI and Voyager have a referral program.
Here are the full details:
- BlockFI: Earn $10 in BTC when your referral deposits $100 or more in a BlockFI account. You and your referral both earn $10 in BTC. After 5 referrals, you will receive $20 in BTC.
The Final Verdict
As cryptocurrencies become a more mature asset class, we will see more companies revolutionize the cryptospace with awesome DEfi products and services.
BlockFI and Voyager are both excellent crypto interest accounts that offers different features and benefits.
If you're still deciding between the two then hopefully this article helps you make a better decision. If you're still looking for guidance then here are my personal recommendations:
- For Crypto Beginners: BlockFI is more secure and offers fewer assets so you can just focus on earning interest with Bitcoin, Ethereum, Litecoin, and USDC. If you just want to stack satoshis then BlockFI is your best choice.
- For Advanced Crypto Users: If you own a diversified portfolio of altcoins then Voyager gives you a lot more flexibility. You can earn interest across dozens of cryptocurrencies and generate interest on your portfolio.