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

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 usersโ€™ 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 companyโ€™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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