(Free $10 Bitcoin) BlockFi Referral Code : 65aa992e

Investment

⚠️ BlockFi has shut down

BlockFi filed for bankruptcy in November 2022 and shut down its web platform in May 2024, so this referral code and the Free $10 Bitcoin offer are no longer available.

Why did it close?
BlockFi filed for Chapter 11 bankruptcy after the collapse of crypto exchange FTX, citing its exposure to FTX. A US bankruptcy court approved its repayment plan in September 2023, and the company then wound down rather than reopening.

Still have money with BlockFi?
In July 2024, BlockFi’s plan administrator said selling its FTX claims would allow a final distribution of 100% on allowed customer claims. BlockFi’s partner for crypto distributions was Coinbase, and it said it was not working with any other provider.

Beware of scams: Fake BlockFi “login” and “status” sites are still appearing online. Do not enter your details or pay any fee to claim funds.

Looking for a crypto platform? Check that it’s licensed by the Monetary Authority of Singapore (MAS) on the MAS Financial Institutions Directory first.

Use referral link or referral code 65aa992e to earn $10 Bitcoin when you complete the minimum transfer of $100 to BlockFI after signing up

What is BlockFI?

  • Founded in 2017, BlockFi is a US based centralized crypto-finance company that supplies a variety of financial services for both private and institutional clients. 

What is BlockFI interest account?

  • BlockFi enable users to earn up to 8.6% interest annually on cryptocurrency deposited to their account. BlockFI lends the users’ deposits to institutional and corporate borrowers, who pay an interest rate to BlockFi which in turn pays its users.
  • Although user deposits are prioritized over other company equity to reduce their risk, BlockFI is not FDIC or SIPC insured.
  • BlockFi also allows users to deposit cryptocurrency as collateral and borrow up to 50% of the collateral value in US dollars.
  • Through this service, users can get access to cash almost instantly without the need to trade their cryptocurrency, avoiding hassle, fees and a taxable scenario.

Pros about BlockFI

  • BlockFi is a centralized company, which means they have control over your funds.

Conclusion

  • BlockFi provides a great alternative for traditional finance and DeFi services so you can earn interest on your cryptocurrency and secure super quick loans against it.
  • However, the company’s centralized nature and short track record still makes it a bit risky. Do invest with an amount that you can afford to lose. In other words, start small.

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