Blockfi review

avatar
(Edited)

If your looking to earn interest on your holdings or take out a crypto backed loan then one of the companies that you might have come across is Blockfi.

Security

BlockFi client assets are securely deposited in to Gemini at a unique wallet address generated by Gemini, a New York trust company licensed by the New York State Department of Financial Services. Gemini is a fiduciary under §100 of the New York Banking Law and held to specific capital reserve requirements and banking compliance standards. Gemini also has digital asset insurance coverage and is SOC 2 Type 1 security compliant on its exchange and custodian platform.

This is one of the only lending platforms that I have come across that allows you to earn interest on crypto and access via a pc, being able to use a service on your pc is much more secure in my opinion than having to trust your phone, which I only like using as a second factor of authentication.

Attractive and flexible rates of interest

Lots of platforms require that you lock up your crypto for long periods of time to achieve the best rates, with Blockfi this is not the case and you even get one free withdrawal a month. They will allow you to earn up to 6.2% on your BTC 4.1% ETH and 8.6% GUSD

Trading and payment choice

Currently you have the option of earning interest on BTC, Gemini USD (GUSD), and ETH you can chose how you want to be paid.

  1. Interest paid in the same currency deposited (Default)
    For example, deposit BTC and get paid interest in BTC

  2. All interest paid in the currency of your choice (Flex)
    For example, deposit BTC and ETH and get paid interest in GUSD

At the end of each month you will see a statement regarding how much you have earned.

You can also manually convert on the site using the trade function.

Referral program

Out of all the platforms I have come across Blockfi is probably offering the best referral program, they are not trying to nickel and dime you into using other products, by using a referral link they will give you $10 worth of bitcoin as soon as you deposit $100 worth of crypto.

interest crypto lending defi eth review palnet
0
0
0.000
4 comments
avatar

Congratulations @safetony! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :

You got more than 800 replies. Your next target is to reach 900 replies.

You can view your badges on your Steem Board and compare to others on the Steem Ranking
If you no longer want to receive notifications, reply to this comment with the word STOP

Vote for @Steemitboard as a witness to get one more award and increased upvotes!
0
0
0.000
Reply
avatar
(Edited)

Hi @safetony

Thank you for sharing link to your publication. It's already a bit to old to upvote it :(

I've never heard about BlockFi. However I'm not much into investing (I'm fully into steem blockchain) so I will skip this opportunity.

Also "they will give you $10 worth of bitcoin as soon as you deposit $100 worth of crypto" does sound very fishy.

Yours, Piotr

0
0
0.000
Reply
avatar

Thanks for the comments, I think crypto lending is a strong trend that we will continue to see this year, hopefully something can be built to increase steem adoption, I don't think $10 is that much as their is a lot of competition in the space and you have to pass through KYC checks.

0
0
0.000
Reply
avatar

Congratulations @safetony! You have completed the following achievement on the Hive blockchain and have been rewarded with new badge(s) :

You made more than 2000 comments. Your next target is to reach 2500 comments.

You can view your badges on your board And compare to others on the Ranking
If you no longer want to receive notifications, reply to this comment with the word STOP

Support the HiveBuzz project. Vote for our proposal!
0
0
0.000
Reply