Compound interest

BlockFi lets you earn compound interest on Bitcoin and other cryptocurrencies


Over the past few years, cryptocurrencies like Bitcoin and Ethereum have exploded in popularity. This is due to the extremely lucrative earnings that have been made by those who have bought (or mined) and owned over many years. But while you hang on to crypto in the hopes of making big gains, you are locking up money that could be used to earn interest. Or at least it was before. Now, thanks to the BlockFi Interest Account, you can earn compound interest on your cryptocurrencies just like you would depositing money in a traditional bank.

Image via BlockFi

Essentially, compound interest is the ability to reinvest the interest you made on your deposit to earn more interest. Think of it as creating money – your money is reinvested to make more money, which you can then reinvest anyway. BlockFi does exactly that. Offering up to 8.6% APY on your deposits, the company also makes it easy for you to buy and sell cryptocurrencies.

Joining BlockFi is simple: opening an account only takes a few minutes. By opening a BlockFi Interest Account (BIA), you can practically start earning money immediately after the first transaction. Whether you go for Bitcoin, Ethereum, or Litecoin, BlockFi is here for you. Investment is possible by bank / wire transfer, crypto and stablecoin. You earn interest immediately after investing in Bitcoin.

Compound investing is also a great way to diversify your portfolio, as the results of various crypto investments can vary widely. You can earn additional income by joining BlockFi’s Refer-A-Friend program. If a friend signs up using BlockFi’s referral code and invests more than $ 100 through BlockFi, you and the friend receive $ 10 in Bitcoin.

Sometimes investors need money fast, which is why they often sell their cryptocurrencies. But with BlockFi, you don’t have to worry about sacrificing your cryptocurrencies for liquidity. BlockFi’s loan program offers loans as low as 4.5%. You can borrow up to 50% of the value of your deposited crypto assets. Best of all, BlockFi loans aren’t hampered by cumbersome prepayment charges or penalties, meaning you can pay off the loan as soon as you want.

Additionally, BlockFi is accessible through a mobile app (Android and iOS are supported). Security measures like two-factor authentication keep you safe while trading crypto. Additionally, some of the biggest crypto investors, such as Bain Capital and Tiger Global, are backing BlockFi. Investing in cryptocurrency can always be risky, but portfolio diversification makes even the potential crypto flop a little easier to take. BlockFi offers exactly that through compound interest, making your investments profitable in the short term and more profitable in the long term.

Get started with BlockFi, here.

Futurism Fans: To create this content, a non-editorial team worked with an affiliate partner. We may charge a small commission on items purchased through this page. This post does not necessarily reflect the opinions or endorsement of the editorial team.

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