If you already have crypto assets and wish to make the most of them, you can consider lending your crypto. It allows you to earn passive income with crypto assets without trading them. This articles brings to you the top 5 crypto.com alternatives.
What is Crypto.com?
Crypto.com is one such platform that allows customers to spend, trade, store, and save cryptocurrencies. It offers an array of services and is one of the most popular platforms for HODL-ing your cryptocurrency.
It is easy to convert money on Crypto.com with low fees and robust security. Customers can also earn interest on their crypto assets by lending them out on the platform. The platform supports over 100 coins and 20 fiat currencies. However, almost 40 of those coins are not present in the U.S, and not all coins are present in every state.
The downside of Crypto.com is that the website can be overwhelming for those who are new to crypto lending. The company has revamped its website recently, but the interface is still a bit difficult to navigate.
Summary
| Category | Hodlnaut | BlockFi | CoinLoan | YouHodler | Nexo | Crypto.com |
|---|---|---|---|---|---|---|
| Interest Rates (APY) | 6.2% APY on BTC & 10.5% APY on stablecoins | 5% APY on BTC and 5-9.3% APY on stablecoins | 7.2% APY on BTC & up to 12.3% APY on stablecoins | 4.8% APY on BTC & up to 12.7% APY on stablecoins | 6% APY on BTC & 10% APY on stablecoins | 6.5% APY on BTC & up to 12% APY on stablecoins |
| Assets Supported | 5 | 10 | 18 | 20 | 20 | 70 |
| Min. Amount | No Minimum | No Minimum | US$100 | US$100 | No Minimum | US$100 |
| LTV ratio | 25%-100% | 50% | 20%-70% | 90% | 25%-60% | 50% |
| Mobile app | iOS app coming soon | iOS, Android | iOS, Android | iOS, Android | iOS, Android | iOS, Android |
| Lock-in Period | No | No | No | No | No | No |
Top 5 Crypto.com Alternatives for HODL-ers
First Crypto.com alternatives: Hodlnaut
Hodlnaut is an emerging crypto interest-earning platform based out of Singapore. The platform offers up to 10.5% APY on five asset classes: BTC, ETH, USDC, DAI, and USDT.
There are no lock-in periods or minimum deposits, and Hodlnaut has a dedicated customer support team that provides a hassle-free experience to customers.
If you are a crypto enthusiast looking for a Crypto.com alternative, then Hodlnaut is an excellent option. Hodlnaut offers competitive interest rates, as shown below.
The company has recently introduced its much-awaited Token Swap feature, which allows customers to swap tokens seamlessly. With this new feature, customers can trade tokens from the available pool of assets within the Hodlnaut platform.
Thus, they earn interest in the crypto of their choice without having to switch to another platform. Hodlnaut also has an affiliate program with which customers can refer their friends and earn 10% commission on their friend’s interest. Moreover, the referred friend gets a bonus of $20 as well.
To give the maximum benefits to their customers, Hodlnaut also offers a VIP fixed-term loan.
Customers need to deposit an equivalent of 25 BTC or more in the same asset class for a duration of one, three, or six months with Hodlnaut. Upon meeting these requirements, customers will earn a higher yield than the Hodlnaut Interest Account.
Hodlnaut Pros
- Hassle-free deposits and withdrawals
- User-friendly interface and dedicated support team
- Attractive interest rates with no minimum deposits or lock-in periods
Hodlnaut Cons
- The platform doesn’t support buying or selling crypto
- No mobile applications as of yet
- Limited crypto assets
To learn more read our Hodlnaut review.
Second Crypto.com alternatives: BlockFi
BlockFi is one of the most popular crypto lending platforms for individual investors. The platform offers financial services to crypto users at low costs. The user interface is simple, and there is something for everyone.
Currently, BlockFi offers crypto-backed loans, interest account, and trading account. This platform enables customers to earn up to 8.3% APY on crypto assets. The interest is accrued daily and can be withdrawn monthly.
BlockFi also has a waitlist for early adopters of BlockFi credit cards and a bitcoin rewards program. However, the card will be released in the US, and the release will be limited to a few states.
BlockFi also recently lowered its crypto interest rates. Let us look at BlockFi’s pros and cons for a better idea about the platform.
BlockFi Pros
- Renowned crypto lending platform with a sizable AUM
- Attractive rewards program
- Earn, trade, and borrow crypto from a single application
To learn more about the platform, read our BlockFi Review.
BlockFi Cons
- Limited assets available
- Users are allowed only one free withdrawal for crypto and stablecoins
- Payouts are monthly instead of weekly
Third Crypto.com alternatives: CoinLoan
CoinLoan provides crypto savings accounts that enable customers to loan their assets and earn attractive returns. It is based out of Estonia and offers fiat borrowing and lending as well.
The best thing about crypto lending platforms, including CoinLoan, is that customers don’t have to undergo any credit checks while borrowing or lending. All you need to do is put up your crypto or fiat currency as collateral to get a loan-to-value rate of 70%.
CoinLoan also offers a token of their own, for which it offers a CLT-staking reward of 2%. The platform offers up to 12.3% APY, mostly on Euro and stablecoins.
CoinLoan Pros
- Lucrative interest rates
- No withdrawal fee
- Licensed European virtual currency provider
CoinLoan Cons
- Relatively new platform
- Lacks transparency
- Crypto volatility affects your loans
To learn more about the platform, please read our Coinloan review.
Fourth Crypto.com alternatives: YouHodler
YouHodler is a versatile financial service company based out of Switzerland that helps crypto users earn interest in cryptocurrencies. You can trade crypto or fiat currency, take a loan with keeping crypto as collateral and invest in a high-interest savings account.
The platform is suitable for all types of investors and allows users to grow their crypto seamlessly. Users can earn up to 12.7% APY on 22 assets, including BTC, ETH, and the like. YouHodler also has an integrated wallet for cryptocurrencies and fiat.
Products such as TurboCharge and Multi-HODL can be interesting for those who are experienced in crypto.
YouHodler Pros
- A wide array of crypto assets
- Interesting trading products
- High interest rates
YouHodler Cons
- Not available in countries like the USA or China
- Mobile application needs to be improved
- It comes at a higher price compared to other platforms
To learn more read our YouHodler review.
Fifith Crypto.com alternatives: Nexo
Nexo is a renowned platform in the crypto space with a mission to replace traditional banking with cryptocurrencies. It has a good mix of interest accounts, crypto debit cards, crypto loans, and exchanges.
It is an excellent alternative to Crypto.com as its platform is easy to navigate, and there are enough resources to help customers understand the products. Nexo supports 17 crypto assets and some fiat currencies like Euro, British Pound sterling, and US Dollar.
Nexo offers 12% APY for those who choose to earn in NEXO tokens.
Nexo Pros
- Earn higher yield with Nexo tokens
- Well established platform with over 1 million clients
- No fees for withdrawal or transactions
Nexo Cons
- Best interest rates are available only for those who hold Nexo tokens
- Borrowing rates are higher than other platforms
- Insurance is only applicable to assets stored in cold storage.
Crypto.com Alternatives: Conclusion
Bitcoin started the cryptocurrency revolution, and other cryptocurrencies are gaining momentum too. Needless to say, cryptocurrencies are emerging to be the future of finance.
However, holding crypto is not the only way one can invest in them. A good alternative is lending the crypto assets to earn interest on cryptocurrencies, thus making the most out of your cryptocurrencies.
Although Crypto.com is a great platform, other platforms in the market are worth exploring too. Hodlnaut, BlockFi, CoinLoan, YouHodler, and Nexo are the top five alternatives to Crypto.com. With the right strategy, users can earn passive income through these crypto lending platforms.
Frequently Asked Questions
Is BlockFi legit?
Yes, BlockFi is legit as it operates within the federal and state guidelines of the United States and is regulated by the New York Department of Financial Services (NYDFS).
Who owns blockfi?
BlockFi is a privately owned company founded by Flori Marquez and Zac Prince, it has raised funding from various investors.
Is Nexo safe to use?
Yes, Nexo is safe to use. Nexo is driven by trust and designed for security. Further, It follows global AML and KYC standards and complies with strict regulations to avoid risk. Nexo has security measures in place and has become one of the most secured crypto lending companies.
Which Coins Are Supported by Nexo?
Crypto assets can be deposited on the Nexo platform and also used as collateral for obtaining a cash loan instantly with ETH, BTC, LTC, XRP, BCH, XLM, PAXG, EOS, BNB, and NEXO.
Is Hodlnaut safe ?
Yes, Hodlnaut is safe to use as the platform runs on secure AWS (Amazon Web Services) cloud infrastructure with all traffic SSL encrypted. Furthermore, Hodlnaut uses industry-standard algorithms for password hashing and procedures while encouraging users to enable two-factor authentication (2FA) for account transactions.
