- Earn interest on your bitcoin
- Borrow against your bitcoin
- Trade between bitcoin and stablecoins
- Spend your bitcoin via their block card
- Earn bitcoin as a reward for spending with their BlockFi card
Note: BlockFI is not entirely focused on bitcoin and does support other cryptocurrencies and stablecoins.
Block & load
BlockFi was founded in 2017 by Zac Prince as a way for Bitcoin hodlers to earn interest on their precious sats. On top of the interest account, they offer loans should you wish to borrow against your Bitcoin, as well as fee-free trading.
With some serious financial backing from various deep-pocketed investors, the company appears to be in good shape but as always, this is the wild west and things can change in an instant. BlockFi has had a few difficulties in the past with overpaying customers, regulatory difficulty and a hack of customer data in 2020.
As always, there is a risk leaving your coins in 3rd party sites so decide how much you’re willing to leave in lending platforms and get those sats working.
Referral link – deposit $100 or more in and you and us will receive $10 BTC – more information on the referral can be found here.
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