BlockFi vs. CakeDeFi

Clash Of The Lending Platforms - BlockFi vs. CakeDeFi

Cryptocurrency lending platforms are a popular and easy way to generate passive income on your holdings. In this post, I`d like to compare two of the most well-known lending platforms BlockFi and CakeDeFi. Let`s find out where the differences and benefits are.



Both are centralized platforms that are offering lending services. BlockFi currently has nine different markets. These are the cryptocurrencies that you can lend out to earn interest. 

BlockFi Markets

The highest interest rate for Bitcoin and Ethereum is 4.00%, for stable coins USDT and DAI it`s 7.50%. The thing on BlockFi is that the more you are holding on the platform, the less you get. It has a tiered interest structure as you can see on the screenshot below.

BlockFi interest

So if you hold more than 0.25 BTC or more than 5 ETH, the interest amount reduces a lot to 1,5%. More than 5 BTC or more than 50 ETH leaves you with an interest rate of only 0.25%.

Let`s see how it works over on CakeDeFi. On CakeDeFi, you can lend out four different assets: BTC, ETH, USDC, and USDT. The base APY for BTC and ETH is 5.00% but if the price of the asset increases a lot during a lending batch, you can get up to 7.50%. You get 8.00% for stablecoins.

The lending works in batches starting and ending each Friday. This means basically that your funds are locked during that time which is four weeks. You can choose to automatically enter the next batch.

CakeDeFi lending

The good news is that on CakeDeFi it is not like on BlockFi where you earn less the more you hold. On CakeDeFi, it is the other way around. You will earn more if you hold more. This is not only because CakeDeFi has no tiered interest rates but also thanks to their confectionary program. This confectionary program offers you different benefits depending on how much you hold on Cake DeFi.

CakeDeFi VIP

In general, the interest rates on CakeDeFi are higher than on BlockFi. BlockFi just has more cryptocurrencies to lend out than CakeDeFi.


Services besides Lending

On BlockFi, you can not only lend out your crypto but you can also borrow some or trade it. Another cool feature is the BlockFi Visa card that allows you to collect cashback in crypto with each purchase.

CakeDeFi doesn`t offer that but it has a lot of other fun stuff to offer like easy access to liquidity mining and staking. 

You can deposit your favorite coins into the shared liquidity mining pools and start mining popular coin pairs for high rewards.


CakeDeFi offers a staking service for two assets, $DFI and $DASH. The current APY for $DFI is above 100.00% and the APY for DASH is 5.40%.

If you decide to put your $DFI tokens into the freezer for some time, you can earn even more staking rewards!



Sign-Up Boni

The good news is that both platforms are offering sign-up bonuses. The thing is that if you want to receive this bonus you need to use an invitation link to sign up. If you don`t use it, you won`t get the bonus. This post contains my invitation links. If you use them for signing up then you will not only get your bonus but you will also support me. If you for some crazy reason don`t like to support me then you can still search on the internet for another one but if you decide to support me, it is very much appreciated. 

Both platforms require a KYC. You will get a $10 bonus from BlockFi if you use an invitation link to sign up, pass the KYC, and deposit at least $100 in any supported currency with your first transaction.

Now CakeDeFi has a very special offer. Until August 13, 2021 10:00 AM UTC, CakeDeFi is running a special Olympic Bake-Off.

During that time each new user will get $50 in $DFI tokens!

A successful referral has to sign up via an invitation link (Code: 528168), do the KYC, and deposit at least $50 in any supported cryptocurrency in one transaction like Bitcoin, Bitcoin Cash, Dash, Litecoin, Dogecoin, Ethereum, or USDT.

This bonus will be locked up in the freezer and staked for 180 days. The good news is that the locked-up bonus automatically yields high staking returns during this time. These staking rewards will compound themselves and they will be added on top of the bonus and can be withdrawn after the lock-up period has ended. 


My Final Words

I hope I could provide you with some interesting and useful information about the two popular lending platforms BlockFi and CakeDeFi

I would also like to know what lending platform you are using to earn interest on your Bitcoin and Ethereum? It would be awesome if you would let me know in the comments.

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You may also like: DeFiChain Enables Decentralized Finance On Bitcoin



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