Block Earner Logo
"Minted Millennials is reader supported. When you click on links through this site, we may earn an affiliate commission."

In this Block Earner Australia DeFi crypto review I will explore all that the Block Earner Defi crypto app offers users. This includes explaining what DeFi actually is. As well as how Block Earner Australia harnesses DeFi for its users’ benefit. This Block Earner Australia crypto review will also highlight the features, and pros and cons of the Block Earner app. I hope you find this Block Earner DeFi crypto review helpful.

What is Block Earner?

Block Earner is the newest crypto app to be released in Australia. The Block Earner app is a blockchain based FinTech company that provides access to DeFi solutions. It provides users a simplified way to access the complex world of Decentralised Finance (DeFi).

The Block Earner crypto app provides users a cash and yield account. The yield account through the power of DeFi has the ability to provide potential variable yields of up to 18%. Meanwhile through their lending functionality users can lock in a 7% yield.

Block Earner is a great platform for people wanting access to the higher yields DeFi has to offer, yet may not fully understand how to do it themselves. The platform acts as a middleman between the user and the DeFi protocols.

The Block Earner Australia app provides a very sleek and user friendly platform that makes access to DeFi easy. Simple platforms like this are what is required to obtain mass adoption of DeFi protocols.

Block Earner is a registered Digital Currency Exchange, similar to platforms like Swyftx and Digital Surge. However, after reviewing what Block Earner is currently offering, it doesn’t provide the ability to trade Crypto. The main product offering is access to DeFi protocols or lending USDC.

The Block Earner DeFi crypto app allows users to convert AUD to a US backed stable coin (USDC). Therefore allowing users to access the world of DeFi with this USDC. As a result, it is opening up the world of DeFi to people that may never have considered it previously. 

As the rates on offer utilising DeFi dwarf what you can get elsewhere. It’s important to note that with greater returns come greater risks. I will dive deeper into the risks involved with Block Earner later in this review.

Who Founded Block Earner?

The Block Earner mission is to help people take control of their money and access the benefits of Decentralised financial systems. In doing so, it promises to provide better products built on blockchain.

The Co-Founders Charlie Karaboga and Jordan Momtazi have been able to raise $6.4million in a seed funding round. This round was led by Framework Ventures and they have also been backed by Coinbase Ventures.

This raise valued Block Earner at just over $56million, prior to having released their Beta product. User numbers are currently unknown. However with the experience of the team, their product offering and the venture backing I would expect the platform to do well.

Top Pick
Block Earner, The Future of Finance is here.

A simple app to access DeFi & Lending protocols to generate impressive yields.

$20 Sign Up Bonus!
We earn a commission if you sign up to Block Earner, at no cost to you.

What is DeFi?

DeFi is short for Decentralised Finance and is viewed by many as the evolution of Traditional Finance (TradFi). Traditional finance is essentially any finance product, platform or institution that you or your family have grown up with. 

Think banks, credit cards, investment brokers, lending and borrowing to name a few. These institutions or products have a form of centralised entity that controls them. Whether it’s a business or government, there is centralised control and not much transparency.

DeFi is the complete opposite to this, its goal is to have a transparent and decentralised financial system. This will lead to fair and open access to anyone. Rather than having a middleman or centralised party controlling the products, DeFi uses smart contracts.

Smart contracts are open sourced, uneditable pieces of programmed code. The fact that this code can’t be changed means it’s trustless. There is no 1 person that can change the outcome and therefore all parties involved are protected from manipulation.

That is the essence of DeFi, taking the power out of the hands of Big institutions and into the users hands. Another added bonus of DeFi is there are significantly less overheads than say a traditional bank. This means there are larger profit margins for users, and as a result higher yields than what a bank offers.

DeFi protocols can replicate Traditional Finance functionality, but often deliver better yields due to lower costs and at faster speeds. Importantly, DeFi isn’t without its risks though. DeFi is a new world and there are a lot of bad actors, not to mention it is extremely complex for a beginner. That is where a platform like Block Earner comes in. The Block Earner app simplifies access to DeFi and users don’t have to review hundreds of pieces of content to understand DeFi.

Block Earner DeFi Crypto App
Future of Finance

Block Earner Review – How Does It Work?

Block Earner Australia has similarities to some of my other favourite Crypto platforms, Celsius & BlockFi. This is because with Celsius and BlockFi you can lend your USDC and generate yield. 

Those platforms also offer crypto backed loans, credit cards and the ability to swap and trade Crypto. However, this platform doesn’t have this functionality as it is targeting a different sector of Crypto, DeFi.

Block Earner offers a fiat wallet and a yield earning account, with the option to earn yield through lending of DeFi. Additionally it has the functionality for users to open an account for individuals, companies, trusts and SMSFs.

Block Earners awesome feature is the easy access to DeFi, and simplicity of earning yield through lending USDC.

Currently I buy USDC through Swyftx and then transfer to my Celsius wallet to earn yield through lending. While this process isn;t too complex for me, it is fraught with danger. The biggest one is sending USDC to the wrong address, or on the wrong chain.

That is where Block Earner comes in. This review of Block Earner shows how easy it is for users to do the same thing. Block Earner users just need to deposit AUD into their wallet and then select which yield platform they want. Block Earner makes the transfer into USDC and handles all the back end for the user.

The key thing to remember is although Block Earner says you will get a fixed 7% return there are no guarantees with crypto. Block Earner is not a savings account, it is a crypto lending platform and DeFi middleman. As such assets invested into the Block Earner DeFi crypto app are not protected by the Government deposit guarantee. 

Block Earner Review- Features

See below for some of the awesome features that the Block Earner Australia DeFi crypto app offers users:

  • Block Earner Wallet
  • Block Earner Lending
  • Aave Protocol
  • Compound Protocol


For any cryptocurrency platform to function correctly users must be provided a wallet to receive assets or fiat into. Block Earner provides users with a wallet that receives AUD. Their wallet doesn’t accept crypto deposits. As such you are unable to send any USDC you own to Block Earner.

The Block Earner wallet is where your AUD will be deposited and kept until you choose which protocol to use. Payments can be made into your wallet through PayID or through bank transfer and should be instant. My transfer through PayID was instant.

Any AUD held in this wallet won’t receive any interest. Similar to how investing platforms like Stake or Pearler hold your investment balance. It is important to remember that you must move your funds from this wallet to a yield protocol. Otherwise your funds will be sitting idle. Make sure you review the Block Earner app frequently to ensure you don’t have funds in this wallet.

Crucially, here are no minimum account balance requirements for this wallet. Likewise, there are no hidden fees to keep this wallet open, like there are with some banks.

Users will also need to pass KYC checks to use the platform. So it is important to have sufficient information available in order to be approved and access this wallet. 

Block Earner

Lending Protocol

One of the awesome things about crypto is the high interest rates you can receive from lending out your crypto holdings. It makes a mockery of the interest you earn from a bank account. That is why interest accounts have become so popular in crypto.

The Block Earner crypto app is only available in Australia for now. All you need to do is transfer AUD into your Block Earner wallet. Then choose the lending protocol, this is the one with a fixed 7% return.

Once the transfer to your lending protocol has been confirmed, you will start accumulating interest instantly. The rewards compound daily and are paid out monthly. This is a great way to earn a fixed yield on your assets.

A key point to remember is that this is not a savings account. Subsequently the 7% fixed return is not guaranteed by the Government, like a bank account is. The difference here is that the user is lending the USDC to the platform.

Block Earner will then use these assets to generate a return above the 7% they provide to users. They will review different investing and lending strategies that will provide a risk adjusted return.

It is important you know and understand that this is what is happening with your assets. Banks also do this with your money, however you are protected up to $250k. Unfortunately this is not the case in crypto yet. So if you are comfortable with a bit of risk to obtain a 7% return, this platform could be a good option.

Block Earner DeFi Crypto App
DeFi Protocols

Aave Protocol

Aave is a decentralised and non-custodial liquidity protocol, where users can participate as both depositors or borrowers. In the instance of Block Earner, users deposit assets which provide liquidity to the market. As a result, they earn a yield to reward them for providing the protocol with liquidity.

The yield generated by the Aave protocol is determined by supply and demand and market forces. Therefore if there are more people wanting to borrow from the protocol and not enough people lending. Yields would increase, as an incentive to get more assets into the protocol.

The reverse applies when there are lots of people lending into the protocol and not many people wanting to borrow. The yields will decrease, therefore discouraging more people providing assets to lend.

As a result of this, the Aave protocol offers variable yields between 1% and 18%. These rates are adjusted daily to reflect the protocol yield. The rewards are accumulated daily into your account. There is no minimum deposit amount and you can withdraw anytime.

The Aave protocol itself is reliant on smart contracts to function. As I mentioned previously, this is how DeFi works. Utilising smart contracts removes the requirement to trust a middleman to handle the assets.

For those that are big believers in DeFi and what it stands for, Block Earner is the biggest oxymoron. This is because it is literally the middleman or centralised entity facilitating users access to DeFi.

I believe that for DeFi to be brought to the masses it will require a simple platform like Block Earner. This is because in order for mass adoption it has to be as simple as a click of a button. Otherwise DeFi will remain only used by hardcore crypto investors.

Block Earner DeFi Crypto App
Yield Rates

Compound Protocol

The other DeFi platform that Block Earner provides its users access to is called Compound.

Just live Aave, Compound is a decentralised and non-custodial liquidity protocol. Designed for users to participate as either lenders or borrowers. 

Blocker Earner facilitates the lending of users assets into the Compound protocol. As a result, users earn a yield to reward them for providing the assets.

The yield generated from the Compound protocol is determined in the same way as the Aave protocol. Supply and demand and market forces dictate the amount of yield returned to users.

The Compound protocol offers variable yield, which can be anywhere between 1% & 18%. These rates are adjusted on a daily basis. Also, yields are compounded daily into your account. There is no minimum investment amount to access this protocol, and you can withdraw funds at any time.

Currently Compound has a slightly larger market size than Aave, although it is not too relevant to how they perform. It may be difficult to decide which Block Earner DeFi protocol to choose. You will need to review each Block Earner protocol and see which one suits your needs. Although Aave and Compound are very similar.

The yield rates change so quickly, and with no lock up period it is possible to monitor the yields and switch into the best one at the time. Although if you do something like this, bear in mind there will be tax consequences.

  1. Cointelli | Crypto tax reports you can trust, ready in minutes
  2. 4.5

    Cointelli, automated USA compliant crypto tax reports. API integration to crypto exchanges, wallets, blockchains & services for a flat $49USD fee.

    Sign Up Here Our Review

    We earn a commission when you sign up to Cointelli, at no cost to you.

  3. Koinly — Free Crypto Tax Software
  4. 4.5

    Crypto tax portfolio tracker that provides automated Country specific compliant tax reports and integration for your accountant to file your tax return.

    Sign Up Our Review

    We earn a commission when you sign up to Koinly, at no extra cost to you.

  5. Cryptocurrency Tax Software: TokenTax
  6. 4.0

    Token Tax is a premium Cryptocurrency Tax Software, that provides country specific compliant Crypto Tax reports.

    Sign Up Here

    We earn a commission if you make a purchase, at no additional cost to you.

    Lasso Brag

Block Earner Review- Education

I think one of the biggest value-adds provided by FinTechs can be through their education to users. Especially when the business is providing a new technology, such as DeFi. I have reviewed the Block Earner education platform and think it is slightly lacking.

Currently there are only a few blog posts on their website. Although the blog posts do address what DeFi, Aave and Compound are, they don’t go into too much detail. I would love to see more content educating on the crypto space and some more in-depth content on DeFi and lending.

This is very important as Block Earner may very well become a platform that brings DeFi to the masses. As such, Block Earner should take the opportunity to educate and inform their users accordingly.

Block Earner is still very new, so no doubt there will be a lot more content produced soon. As they are busy scaling up the business and just launched their product. In time I will be keen to see more. I am sure they will be more active on their social channels with this type of content.

Block Earner Review- Fees

Figuring out what fees are charged is a key part in being able to review a platform like Block Earner. Fortunately they have been pretty transparent on how they charge fees. Block Earner has two types of fees. A withdrawal fee and the spread on conversions between AUD and USDC and USDC and AUD.

Block Earner will generate most of their revenue when users select the Block Earner lending protocol. This is because Block Earner is able to use those assets for different strategies to generate yield greater than 7%. If Block Earner is able to make 10% off those assets, they keep the difference.

This means they are able to keep fees low for users. Although they still need to make money from offering the DeFi protocols. This is where a spread comes in to generate Block Earner revenue.

A spread is the difference in the buy and sell price. For example if 1AUD = 0.74 USDC then Block Earner puts the spread at 0.73USDC. Therefore Block Earner keeps the 0.01 USDC, this applies on the sell side too. 

Like most platforms, Block Earner hasn’t listed their spread, as this can be dynamic for businesses. But I tested with $100AUD and received 73.41 USDC. At a time when the exchange rate was 1AUD = 0.74USD. So the spread seems like a pretty standard 0.6%.

The other fee involved with using the Block Earner Australia app is a withdrawal fee. The withdrawal fee is a flat $1 for any withdrawals less than $100AUD. Users are able to withdraw funds for free on any amount over $100.

Storage solutions
Block Earner

Block Earner Review- FAQ’s

Hopefully you are enjoying this Block Earner review so far. In case you had further questions regarding the Block Earner Australia DeFi Crypto app and what the platform is about I have compiled a list of FAQs below.

Can I use Block Earner in Australia?

Yes, Block Earner can be used in Australia. You can only access Block Earner in Australia for now.

Can I Trust Block Earner?

Block Earner is registered with AUSTRAC as a digital currency exchange and independent remitter. It therefore has specific compliance requirements to adhere to. All assets held on the platform are in custody with Fireblocks

What Risks Are Involved With Block Earner?

As with any type of investment, there are risks involved and Crypto is no different. The following are risks involved with Block Earner: Volatility, Counterparty, Insolvency, Market risk, Price stability, Regulatory risk and tax implications. If you are unsure, you should always seek professional advice.

What Are Stablecoins (USDC)?

The USDC stablecoin is a USD backed stablecoin, that is pegged 1:1 to the US Dollar. What this means is that its value is always equal to 1 US dollar. The USD backed part means it has collateral that is regularly verified to a certain percent of USDC on offer.

Can Block Earner Yield Rates Change?

Through the Block Earner Crypto Lending protocol, rates are locked in for 1 month. So there is the possibility it may change monthly. Through the Block Earner DeFi protocols the yield rates can change daily.

How Long Are My Funds Locked Up For?

Block Earner enables users to have access to their funds at all times. This means there is no lock up period like with other protocols. You can withdraw your funds at any point in time, it may take up to 2 business days to arrive in your bank account.

Block Earner Review – Pros & Cons


  • Simple access to De-Fi Protocols
  • Simple access to crypto lending
  • Solid yields
  • Multiple account options, Trust, SMSF, Company & Individual


  • Unable to send USDC to the platform
  • Can’t earn interest on fiat
  1. Swyftx – Most Trusted Australian Crypto Exchange
  2. 5.0

    The Best Australian Crypto exchange. Trade and Stake crypto with some of the lowest fees.

    $20BTC Sign Up Bonus! Our Review

    We earn a commission when you sign up to Swyftx, at no additional cost to you.

  3. Celsius Network – Earn Yield On Your Crypto!
  4. 4.5

    Celsius is a great platform to earn weekly yield on your crypto. It also enables you to buy, sell, swap, transfer and borrow crypto too.

    $50BTC Sign Up Bonus! Our Review

    We may earn a commission if you sign up to Celsius, at no extra cost to you.

    Lasso Brag

Block Earner Review – Alternatives

While the Block Earner Australia DeFi crypto app offers users some solid features. There are a few alternatives to consider, these include platforms like Celsius and BlockFi. It is important to note, that none of these alternatives offer access to DeFi. But they do offer interest on stablecoins through lending.

Celsius is a great alternative to the Block Earner Lending protocol. You can receive a yield of between 7%-9% with Celsius on USDC. Users are also able to earn yield on other digital assets such as Bitcoin and Ethereum. You can view my Celsius Review if you want to learn more and see why it is a great alternative to Block Earner.

Another alternative to Block Earner, is a platform called BlockFi. BlockFi also offers competitive yield on stablecoins. As with Celsius it also offers this for other digital assets, as well as trading functionality. Similarly to Celsius, BlockFi doesn;t provide any access to DeFi like Block Earner.

Yield Options
Platform UI/UX

Block Earner Review- Is It Worth It?

If you are still reading my Block Earner review, then thank you for reading this far. I think this is a great platform for people wanting access to DeFi and simple lending yield. I think Block Earner’s simplicity is a big positive. Subsequently I see it being a great platform to bring DeFi & crypto lending to the masses.

If you are prepared to take on a bit more risk than keeping money in a bank account, it could be a good option for greater yield. I have been testing it out within my Family trust, so I have the option to distribute the yield among beneficiaries. But if you are unsure it’s smart to seek professional advice.

After I have had a few more months testing the platform out, I will consider moving some of my Emergency fund into Block Earner. I like that it is extremely liquid, and the 7% fixed return is very appealing. Especially as I am prepared to take slightly more risk for a significant gain in yield.

With no minimum account balance and no monthly fees for having an account. It is definitely worth signing up for Block Earner and reviewing it yourself. I think you will find it is worth it. 

Remember, the only thing you should remember is that it doesn’t facilitate crypto trading. If you require trading functionality take a look at Celsius, or Swyftx.

Block Earner Review- Conclusion

If you want to live in a world where you have easy access to DeFi, then Block Earner is leading the way. This Block Earner review covered how they facilitate access to DeFi and yield from lending USDC.

Block Earner has no crypto trading functionality as that isn’t the goal of the platform. It provides some impressive yield on their lending protocol. As well as the potential for significant higher variable returns through DeFi. What really sets Block Earner apart from other platforms is the simplicity it provides users.

This Block Earner review has hopefully highlighted a great platform to consider for access to DeFi and Yield. You should consider if it is suitable for your situation. It’s low fee, simple access and high yield make Block Earner a great solution for people seeking higher returns than a bank.

Top Pick
Block Earner, The Future of Finance is here.

A simple app to access DeFi & Lending protocols to generate impressive yields.

$20 Sign Up Bonus!
We earn a commission if you sign up to Block Earner, at no cost to you.

Sign Up Here

If after reading this Block Earner review you want to get started earning yield off your crypto. Or get easy access to DeFi protocols, then sign up Here and get a $20 bonus on sign up!

Read More Posts On Crypto Below

Scroll to Top