In my last post, I told you about earning interest on your crypto with Compound Finance in a decentralized way. Besides the decentralized lending platforms, there are also centralized lending platforms like BlockFi. Both ways, centralized and decentralized, have their advantages and it`s good to have a choice. In this post, I am going to highlight the advantages of using BlockFi for earning interest on your crypto.
Why BlockFi?
BlockFi offers interest-earning accounts, low-cost USD loans secured with crypto, and fee-free trading. It offers the best rates for these services, the most flexible structures, and the highest degree of security available in the blockchain lending ecosystem.
BlockFi is the only independent lender with institutional backing from big investors that include Morgan Creek Digital, Valar Ventures, Winklevoss Capital, Galaxy Digital, Susquehanna, Akuna Capital, Fidelity, and COINBASE Ventures.
BlockFi Interest Account
To fund your BlockFi Interest Account, you can buy some crypto with BlockFi or you can simply deposit some and directly start earning interest on your crypto. BlockFi supports Bitcoin, Ethereum, Litecoin, GUSD, PAX Gold, and different Stablecoins. It`s a cool feature that you can trade all these assets in your BlockFi account completely fee-free. You can expect more crypto assets to be added to BlockFi in the future.
One of the most attractive features of BlockFi is that there is no minimum deposit required to earn interest. You can also send small amounts of Bitcoin to your interest-bearing account on a continuous basis. Interest is paid monthly and directly credited to your existing balance. You can select in which Crypto you wish to receive your monthly payments. Now you can sit back and slowly but surely build your stack over time.
BlockFi Loans
On the other hand, BlockFi also offers unparalleled access to cash. You will have the ability to pull loan collateral from your BlockFi Interest Account as well as the option to fund your loans in a range of different Stablecoins.
Get Free Bitcoin As First Deposit Bonus
If you use my invitation link to sign up for BlockFi and deposit $100 or more into your BlockFi Interest Account, you and I, we both will receive $10 in Bitcoin. That sounds like a classical win-win situation for me. ??
But that`s not everything. Instead of candy, BlockFi handing out sweet Bitcoin this Halloween. If you fund a BlockFi Interest Account for the first time on or before October 31, 2020, you can get a bonus of up to $275 in Bitcoin on top. That’s your Halloween candy and you won`t even have to knock on any doors in your neighborhood. ??
To receive your Halloween bonus, simply deposit $25 or more into your BlockFi Interest Account on or before October 31, 2020, and maintain a balance of at least $25 until January 14, 2021. You will receive a bonus based on your deposit amount as you can see on the screenshot below.
My Final Conclusion
I`ve decided to give BlockFi a try and deposited some Bitcoin to receive the Halloween first deposit bonus. I will keep it there at least for one year to see how much my funds are growing on BlockFi.
At the end of my post, I also like to remind you that my intention in this post is to raise your awareness of BlockFi and my intention is not to replace your own research. However, it really reflects my own opinion.
So I hope that I could provide you with some interesting and useful information about BlockFi.
Thank you guys for reading, liking, following, and tipping ??
If you like, you can also follow me on Twitter.
You may also like: Compound Finance Is One Of The Hottest Lending Platforms in DeFi Space ??
