BlockFi is a centralised platform that offers several products that revolve around bitcoin.  As a BlockFi user, once you’ve registered and completed your KYC and AML verification, you will gain access to the following products:
  • 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 customersregulatory 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. 

Interest usually pays out once per month depending on the variable rates and you can withdraw once without paying a fee – more information on their fees can be found here.

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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