Back in the day, Celsius was a big deal in the world of crypto loans, letting folks earn on their long-term crypto while also borrowing cash against it. Sadly, things went south during the 2022 crypto winter, leading to its bankruptcy.
Despite Celsius biting the dust, there’s still a bunch of solid options out there for anyone looking to get the most from their crypto investments. We’ve scoured the market and picked out the 6 best alternatives to Celsius in 2024, focusing on their security, features, and overall awesomeness.
Best Alternatives to Celsius in 2024:
- Nexo – Top pick overall
- YouHodler – A veteran in the collateralized lending scene
- CoinLoan – Great for high-yield Bitcoin staking
- Binance Earn – Staking service from the biggest exchange
- Aave – Top decentralized choice
- Lido – A major player in staking platforms
1. Nexo – The Best of the Best
Nexo shines as the go-to Celsius alternative. It’s packed with cool stuff like an integrated crypto exchange and a crypto card that flips your crypto into fiat and gives you 2% back on purchases.
Nexo’s not just about spending. You can stake various cryptos for up to 16% annual rewards. Need a loan? They’ve got you covered with a 6.9% starting rate, and you can choose from over 40 fiat currencies.
Pros of Nexo:
- A nifty crypto card with perks
- Top-notch yields
- Their own token amps up rewards
- Supports over 60 cryptos
Cons of Nexo:
- Not available everywhere
2. YouHodler – Oldie but Goldie
YouHodler has been around the block, offering collateralized loans in multiple cryptos. It’s got a crypto card for easy spending and accounts that let you earn up to 7% annually on big names like BTC.
This Swiss-based platform is a reliable bet for crypto dealings. It’s fully regulated and allows cash loans against your crypto, linked to your regular bank account.
Pros of YouHodler:
- Crypto card included
- Competitive yields
- Quick loans in cash or crypto
Cons of YouHodler:
- Supports fewer cryptos than some rivals
- Limited global availability
3. CoinLoan – Bitcoin Staking with a Twist
CoinLoan, around since 2017, offers a mix of crypto exchange and lending services with tasty staking yields. You can get up to 3.2% on BTC and even higher rates on other cryptos.
CoinLoan stands out with its instant loan assessments and custody of your collateral. They offer both flexible and fixed accounts, and their own token (CLT) boosts your staking rewards.
Pros of CoinLoan:
- Competitive yields
- Supports over 25 cryptos
- Instant crypto or cash loans
Cons of CoinLoad:
- Fewer features than others
- Not universally available
4. Binance Earn – Big Name, Big Game
Binance Earn comes from the world’s largest crypto exchange. They’ve got a flexible savings product letting you earn daily yield with the freedom to withdraw anytime. Lock your assets for a bit, and you’ll earn even more.
Binance makes it easy to start earning with just 10 USDT. They support a whopping 180+ cryptocurrencies.
Pros of Binance:
- Solid yields
- Massive crypto support
- Borrow against your crypto
Cons of Binance:
- Not everywhere
- No cash loans
5. Aave – Decentralized Dynamo
Aave leads the pack for decentralized options, offering staking across 10 EVM blockchains. It’s compatible with Ethereum and others like Avalanche and Polygon.
Aave is a bit different with lower yields than centralized options, but it’s been a rock-solid choice for over 6 years. Their overcollateralized lending lets you borrow against staked assets.
Pros for Aave:
- No KYC needed
- Top-notch DeFi security
- Crypto loans without counterparty risk
Cons for Aave:
- Fewer cryptos and lower yields than some centralized services
- Cash loans aren’t an option
6. Lido – Staking with a Twist
Lido, another decentralized gem, focuses on ETH and MATIC staking. They offer a unique liquid staking derivative (LSD) platform, giving you tokens like stETH in return for staking, which you can use or re-stake.
Lido is perfect for maximizing your staking returns. You can borrow against your LSD tokens, making it a hot choice in the Ethereum world.
Pros for Lido:
- No need for KYC