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Home Platforms AAVE vs BlockFi

Compare AAVE vs BlockFi

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Pros & Cons

tick Very low loan rates available
tick No origination or early redemption fees
tick Interest accrued every second
tick Savings interest payments remain attached to coin even if transferred off platform
tick Fully open source platform
tick Higher average review rating than BlockFi, but based on fewer reviews (77% vs 76%)
tick Has less assets under management than BlockFi
tick Know your customer checks are required on AAVE but not on BlockFi
tick Transfers in and out of savings account are instant
tick One of the only major platforms to be based in and fully regulated in the US
tick Full transparency on company location and regulation status
tick Funds immediately start earning interest daily
tick No hidden fees & No credit checks
tick Flexibility to have interest paid in the currency of your choice
tick High LTV up to 50% available on loans
tick The world's first bitcoin reward Credit Card
tick Available worldwide
tick More reviews than AAVE (6,197 vs 24 reviews)
tick Higher rating on Trustpilot than AAVE (3.6 vs 3.2 stars)
tick Fiat exchange available on BlockFi but not on AAVE
tick Offers corporate accounts but AAVE doesn't
tick Instantly buy crypto with fiat on BlockFi but not on AAVE
tick BlockFi uses cold storage crypto wallets but AAVE does not
tick BlockFi uses two factor authentication but AAVE does not
tick Has 24/7 support but AAVE doesn't
tick Has phone support but AAVE doesn't
tick Has chat support but AAVE doesn't
Savings Rates
tick AAVE will pay interest on 2 stable coin deposits not offered by BlockFi:
tick AAVE has a higher base saving rate for 2 crypto currencies:
Uniswap (UNI) (0.107% vs 0.1%)
Basic Attention Token (BAT) (0.53% vs 0.1%)
2 more savings rates pros ...
Savings Rates
tick BlockFi has a higher base saving rate for 5 stable coins:
Tether (USDT) (4.5% vs 0.769%)
USD Coin (USDC) (4% vs 0.939%)
Dai (DAI) (4% vs 0.00554%)
Pax Dollar (USDP) (4% vs 0.735%)
Gemini Dollar (GUSD) (4% vs 1.18%)
More ...
tick BlockFi has a higher base saving rate for 4 crypto currencies:
Ethereum (ETH) (0.25% vs 0.206%)
Binance USD (BUSD) (4% vs 1.33%)
Chainlink (LINK) (0.1% vs 0.00303%)
Decentraland (MANA) (3% vs 0.0925%)
More ...
2 more savings rates pros ...
cross Interface is a bit complex and confusing for amateur users
cross Ethereum gas fees can be very high
cross Loans appear to be only available in the US at the moment
cross Slow customer service
cross 2% Origination Fee
cross Savings interest paid out monthly
cross English language version only
cross Saving Accounts not available in some states like NewYork
cross Moderate selection of cryptocurrencies supported
cross High minimum withdrawl amount
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Reviews

77% based on 24 reviews
76% based on 6,197 reviews
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Savings Rates

The table below compares the savings rates for AAVE and BlockFi. Enter the amount you intend to deposit to get a more detailed comparison.
Stable Coins
DAI Dai
0.00554% - 2.08% APY
0.00554% - 2.08% APY
FRAX Frax
1.42% APY
1.42% APY
1.18% APY
1.18% APY
TUSD TrueUSD
0.368% - 2.61% APY
0.368% - 2.61% APY
USDC USD Coin
0.939% - 1.34% APY
0.939% - 1.34% APY
USDP Pax Dollar
0.735% APY
0.735% APY
USDT Tether
0.769% - 1.85% APY
0.769% - 1.85% APY
Crypto Currencies
AMPL Ampleforth
0.211% APY
0.211% APY
BAL Balancer
1.88% - 8.76% APY
1.88% - 8.76% APY
0.53% - 1% APY
0.53% - 1% APY
1.33% - 1.36% APY
1.33% - 1.36% APY
2.06% - 13.4% APY
2.06% - 13.4% APY
0.00038% APY
0.00038% APY
0.0228% - 0.0253% APY
0.0228% - 0.0253% APY
0.392% APY
0.392% APY
ETH Ethereum
0.206% APY
0.206% APY
FEI Fei USD
2.36% APY
2.36% APY
0.873% - 1.32% APY
0.873% - 1.32% APY
LINK Chainlink
0.00303% - 0.764% APY
0.00303% - 0.764% APY
0.0925% - 0.323% APY
0.0925% - 0.323% APY
MKR Maker
0.00064% - 1.27% APY
0.00064% - 1.27% APY
1.48% APY
1.48% APY
RENFIL renFIL
1.19% APY
1.19% APY
SNX Synthetix
0.0986% - 19.2% APY
0.0986% - 19.2% APY
UNI Uniswap
0.107% APY
0.107% APY
WAVAX Wrapped AVAX
6.68% APY
6.68% APY
0.00038% - 0.0173% APY
0.00038% - 0.0173% APY
WMATIC Wrapped Matic
2.44% APY
2.44% APY
XSUSHI xSUSHI
0.00002% APY
0.00002% APY
0.0152% - 0.046% APY
0.0152% - 0.046% APY
ZRX 0x
0.00375% - 0.0881% APY
0.00375% - 0.0881% APY
Loading rates ...
Stable Coins
DAI Dai
4% - 7% APY
4% - 7% APY
4% - 7% APY
4% - 7% APY
USDC USD Coin
4% - 7% APY
4% - 7% APY
USDP Pax Dollar
4% - 7% APY
4% - 7% APY
USDT Tether
4.5% - 7.25% APY
4.5% - 7.25% APY
Crypto Currencies
AAVE Aave
3% APY
3% APY
ADA Cardano
10% APY
10% APY
ALGO Algorand
2.5% APY
2.5% APY
ATOM Cosmos
7% APY
7% APY
AVAX Avalanche
10% APY
10% APY
3% APY
3% APY
0.1% - 1% APY
0.1% - 1% APY
3% APY
3% APY
BNB BNB
3% APY
3% APY
BTC Bitcoin
0.1% - 3% APY
0.1% - 3% APY
4% - 7% APY
4% - 7% APY
DOGE Dogecoin
2% APY
2% APY
DOT Polkadot
9.5% APY
9.5% APY
EOS EOS
3% APY
3% APY
ETH Ethereum
0.25% - 3% APY
0.25% - 3% APY
FIL Filecoin
2% APY
2% APY
FTM Fantom
3% APY
3% APY
FTT FTX Token
3% APY
3% APY
GALA Gala
3% APY
3% APY
LINK Chainlink
0.1% - 3% APY
0.1% - 3% APY
LTC Litecoin
0.1% - 3.5% APY
0.1% - 3.5% APY
LUNA Terra
6% APY
6% APY
3% APY
3% APY
MATIC Polygon
11% APY
11% APY
7% APY
7% APY
PAXG PAX Gold
0.1% - 3.25% APY
0.1% - 3.25% APY
RUNE THORChain
3% APY
3% APY
3% APY
3% APY
SOL Solana
10% APY
10% APY
SRM Serum
3% APY
3% APY
TRX TRON
6% APY
6% APY
UNI Uniswap
0.1% - 3.25% APY
0.1% - 3.25% APY
Loading rates ...
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Loans Rates

The table below compares the loan rates for AAVE and BlockFi. Enter the amount you intend to borrow to get a more detailed comparison.
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Company

Legal name
Aave SAGL
Legal name
BlockFi Lending LLC
Year founded
2017
Year founded
2017
Country incorporated in
222
Country incorporated in
2
Headquarters country
1
Headquarters country
2
Platform token
Aave
Platform token
Centralised
tick Yes
Centralised
tick Yes
Number of employees
50-100
Number of employees
505
Number of users
Number of users
225,000
Total assets under management
$18,000,000,000USD
Total assets under management
$15,000,000,000USD
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Products

Futures exchange
cross No
Futures exchange
Savings accounts
tick Yes
Savings accounts
tick Yes
Loans
tick Yes
Loans
tick Yes
Crypto to crypto exchange
tick Yes
Crypto to crypto exchange
tick Yes
Fiat to crypto exchange
cross No
Fiat to crypto exchange
tick Yes
Pro exchange marketplace
cross No
Pro exchange marketplace
cross No
Peer to peer exchange
cross No
Peer to peer exchange
cross No
Margin trading
cross No
Margin trading
Corporate accounts
cross No
Corporate accounts
tick Yes
Instantly buy crypto with fiat
cross No
Instantly buy crypto with fiat
tick Yes
Integrated crypto wallet
tick Yes
Integrated crypto wallet
tick Yes
Crypto withdrawls to private wallet
tick Yes
Crypto withdrawls to private wallet
tick Yes
Fast account verification
tick Yes
Fast account verification
tick Yes
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Security

Cold storage
cross No
Cold storage
tick Yes
Cold storage custodian
Cold storage custodian
Gemini
Two factor authentication
cross No
Two factor authentication
tick Yes
Credit check
cross No
Credit check
cross No
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Support

24/7 support
cross No
24/7 support
tick Yes
Email support
tick Yes
Email support
tick Yes
Phone support
cross No
Phone support
tick Yes
Chat support
cross No
Chat support
tick Yes
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Fees

Exchange fees
0% exchange fees
Exchange fees
0% exchange fees
Fiat deposit fee
Fiat deposit fee
tick Free
Fiat withdrawl fee
Fiat withdrawl fee
tick Free
Crypto deposit fee
0
Crypto deposit fee
tick Free
Crypto withdrawl fee
0
Crypto withdrawl fee
Varies by currency - approx $10 USD per withdrawl
Savings crypto account withdrawl limit
Unlimited
Savings crypto account withdrawl limit
Varies by currency - min approx $100 USD, max approx $1,000,000 USD every 7 days
Loan crypto account withdrawl limit
Unlimited
Loan crypto account withdrawl limit
Varies by currency - min approx $100 USD, max approx $1,000,000 USD every 7 days
Savings fiat account withdrawl limit
Savings fiat account withdrawl limit
Varies by currency - approx $1,000,000 USD every 7 days
Loan fiat account withdrawl limit
Loan fiat account withdrawl limit
Varies by currency - approx $1,000,000 USD every 7 days
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Registrations & Regulation

Know your customer
cross No
Know your customer
tick Yes
Regulators
Regulated in the UK by the Financial Conduct Authority
Regulators
Regulated in the USA
Financial Conduct Authority
tick Yes
Financial Conduct Authority
Alabama - Consumer Credit License
Alabama - Consumer Credit License
tick Yes
Alabama - Money Transmitter License
Alabama - Money Transmitter License
tick Yes
California - Department of Financial Protection and Innovation - Finance Lender and Broker License
California - Department of Financial Protection and Innovation - Finance Lender and Broker License
tick Yes
Colarado - Supervised Lender’s License
Colarado - Supervised Lender’s License
tick Yes
Connecticut - Money Transmitter License
Connecticut - Money Transmitter License
tick Yes
District of Columbia - Department of Insurance, Securities and Banking - Money Transmitter License
District of Columbia - Department of Insurance, Securities and Banking - Money Transmitter License
tick Yes
Florida - Money Services Business License
Florida - Money Services Business License
tick Yes
Georgia - Seller of Payment Instructions
Georgia - Seller of Payment Instructions
tick Yes
Idaho - Department of Finance - Money Transmitter License
Idaho - Department of Finance - Money Transmitter License
tick Yes
Illinois - Department of Financial and Professional Regulation - Money Transmitter License
Illinois - Department of Financial and Professional Regulation - Money Transmitter License
tick Yes
Illinois - Department of Financial and Professional Regulation - Consumer Installment License Certif
Illinois - Department of Financial and Professional Regulation - Consumer Installment License Certif
tick Yes
Kansas - Office of the State Bank Commissioner - Supervised Loan License
Kansas - Office of the State Bank Commissioner - Supervised Loan License
tick Yes
Kansas - Office of the State Bank Commissioner - Money Transmitter License
Kansas - Office of the State Bank Commissioner - Money Transmitter License
tick Yes
Maryland - Consumer Loan Authorization
Maryland - Consumer Loan Authorization
tick Yes
Maryland - Money Transmitter License
Maryland - Money Transmitter License
tick Yes
Michigan - Regulated Loan Act License
Michigan - Regulated Loan Act License
tick Yes
Minnesota - Department of Commerce - Regulated Loan License
Minnesota - Department of Commerce - Regulated Loan License
tick Yes
Minnesota - Department of Commerce - Money Transmitter License
Minnesota - Department of Commerce - Money Transmitter License
tick Yes
Missouri - Division of Finance - Small Loan License
Missouri - Division of Finance - Small Loan License
tick Yes
North Carolina - Money Transmitter License
North Carolina - Money Transmitter License
tick Yes
North Dakota - Money Broker License
North Dakota - Money Broker License
tick Yes
Nebraska - Money Transmitter License
Nebraska - Money Transmitter License
tick Yes
New Hampshire - Banking Department - Money Transmitter License
New Hampshire - Banking Department - Money Transmitter License
tick Yes
New Jersey - Money Transmitter License
New Jersey - Money Transmitter License
tick Yes
Ohio - Consumer Installment Loan Act License
Ohio - Consumer Installment Loan Act License
tick Yes
Ohio - Money Transmitter License
Ohio - Money Transmitter License
tick Yes
Oklahoma - License of Authority
Oklahoma - License of Authority
tick Yes
Oregon - Division of Financial Regulation - Money Transmitter License
Oregon - Division of Financial Regulation - Money Transmitter License
tick Yes
Pennsylvania - Consumer Discount Company License
Pennsylvania - Consumer Discount Company License
tick Yes
Puerto Rico - Money Transmitter License
Puerto Rico - Money Transmitter License
tick Yes
Rhode Island - Currency Transmitter License
Rhode Island - Currency Transmitter License
tick Yes
Rhode Island - Lender License
Rhode Island - Lender License
tick Yes
South Carolina - Money Transmitter License
South Carolina - Money Transmitter License
tick Yes
Tennessee - Industrial Loan and Thrift Certificate of Registration
Tennessee - Industrial Loan and Thrift Certificate of Registration
tick Yes
Tennessee - Money Transmitter License
Tennessee - Money Transmitter License
tick Yes
Texas - Money Services Business License
Texas - Money Services Business License
tick Yes
Utah - Department of Financial Institutions - Acknowledgment of Consumer Credit Notification
Utah - Department of Financial Institutions - Acknowledgment of Consumer Credit Notification
tick Yes
Washington - Money Transmitter License
Washington - Money Transmitter License
tick Yes
Washington - Consumer Loan License
Washington - Consumer Loan License
tick Yes
Bermuda Monetary Authority - Class F Digital Assets Business License
Bermuda Monetary Authority - Class F Digital Assets Business License
tick Yes
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Other Platform Comparisons

Important Message Definda does not provide any financial advice. All information is provided for research purposes only. DeFi is a rapidly evolving industry. Most businesses in the sector are very young and it is possible that some of them could go out of business in the future. Such an event could result in the loss of your investment. You should do your own research or consult a financial advisor before investing any money. Please read and satisfy yourself with our terms before continuing to use our website. We offer a free impartial comparison service of savings, loans and other DeFi products. We may receive a small commission from some of the companies listed, but this never influences our rankings. If you spot any errors in the information listed then please contact us at info@definda.com.

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