BlockFi Review: Earn Interest on Your Crypto with this App

The world of cryptocurrency trade is expanding exponentially. As a result, more and more consumers are pouring their money into cryptocurrencies to earn maximum profit. BlockFi is one such legit platform that allows you to trade with cryptocurrency and earn a maximum interest of 8.6% annually.

This platform could be like your all-in-one platform where you can borrow cash, sell crypto and buy cryptocurrency.

Read this BlockFi review to know about trading, lending options, costs, savings, and whether this platform is good for beginners.

Get Maximum Interest on Your Holdings

BlockFi interest account lets you earn up to 8.6% compound interest on your virtual currencies’ holdings. The best thing is this application doesn’t have hidden fees, and you don’t even need to maintain a minimum balance. However, the interest rate on your digital assets may vary according to the type of currency you choose and based on market values.

Moreover, you can also choose the interest payment flex option. BlockFi also states at the end of the year how much interest they receive.

Borrow Facility Against Your Portfolio

Stop selling your digital assets when you need instant cash because BlockFi allows you to borrow funds against your portfolio in USD with the lowest interest rate of about 4.5%. In addition, borrowing the assets means you don’t need to report capital gains which let you save extra money in taxes.

In addition to this, the taxes are deductibles and minimize your tax billing as well. However, keep in mind that you have the risk of losing your collateral when you borrow digital assets if your crypto prices drop. This means you are no longer gaining the value in your interest accounts for supporting the loan balance.

Automatic Trading

BlockFi allows automatic trading, which means if you have funds in your interest account, you will be able to set up recurring trades. So, you can automatically buy and sell cryptocurrencies daily, monthly, and weekly. In this way, your trading account will automatically earn interest and grow in values, even if you don’t have much time to spend.

Rewards the Credit Card

BlockFi is the first app that launches a BTC rewards VISA card and a credit card that earns a 1.5% return on every purchase. Moreover, your BTC rewards automatically will be awarded into your BlockFi account so that you can earn interest in the right manner.

BlockFi Trading

BlockFi also allows you to trade in multiple cryptocurrencies. You can even stable coins within your interest account at variable and competitive prices. As soon as you start trading, you’ll start earning interest on your digital assets.

Why Trade on BlockFi?

The benefit of trading on BlockFi is that you can enjoy instant transactions and immediate interest increases. Above this, you can buy, sell, and even exchange several cryptocurrencies, including ETH, BTC, LTC, stablecoins like SDT, USDC, PAX, and GUSD.

To start trading on the BlockFi account, you need to sign up, fund your account, and just hit the trade button to swap cryptocurrencies. You can also trade via your Android and iOS using the BlockFi mobile app.

Pros

  • Instant trades and no commission fees
  • The U.S regulated and based
  • Maximum interest earning
  • No minimum deposit required

Cons

  • Limited free withdrawals
  • Loan rate volatility

If you wish to learn more about crypto lending platforms, visit Crypto Bulls Club.

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