Compound interest

Now it’s easy to earn compound interest on your crypto holdings

The BlockFi Interest Account (BIA) is the world’s first compound interest cryptocurrency savings account

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In case you haven’t noticed, 2021 was another record year for crypto . In February, the CME began trading Ethereum futures, and the price of Ethereum rose from $ 1,500 to over $ 4,000 in just nine months. In April, Coinbase went public on the Nasdaq at $ 400 per share, bringing the valuation of the world’s largest cryptocurrency exchange to nearly $ 100 billion.

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In September, El Salvador became the first country in the world to adopt Bitcoin as legal tender, and countries like Brazil may soon follow suit. And last week, the SEC approved a Bitcoin futures EFT. Soon after, the price of Bitcoin hit $ 60,000, rising 8000 percent just five years ago. If you’ve been waiting for some sort of sign that the crypto is here to stay, 2021 is it. With the global crypto market now worth over $ 2 trillion, the question is no longer should I invest in crypto. It is How? ‘Or’ What should i invest in crypto. And while there are a lot of different answers to this question, the most sensible one might just be an innovative crypto startup called BlockFi which allows you to earn compound interest on your holdings.

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Founded in 2017 by Zac Prince and Flori Marquez, BlockFi is a online crypto investment and management platform . It was created to bridge the gap between the worlds of traditional finance and crypto. To achieve this goal, the company has used several rounds of venture capital funding over the past four years to make traditional financial products and services available to crypto investors for the first time.

How are things going so far? Probably much better than anyone other than Prince and Marquez would have imagined. Just over a year ago, BlockFi was valued at $ 435 million. Today, they are valued at $ 3 billion. And there were rumors that another round of funding could soon push them to $ 5 billion.

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Today, BlockFi offers crypto investors a nice variety of wealth management services. However, their flagship product, the BlockFi Interest Account, is changing the way people think about and invest in crypto .

The BlockFi Interest Account

The BlockFi Interest Account (BIA) is the world’s first compound interest cryptocurrency savings account. With compound interest savings accounts, the interest you earn over a specified period is added to the principal balance, so that you end up earning interest on your interest and growing your wealth exponentially. Compound interest has been available in traditional finance for centuries. However, it was not available to crypto investors until now.

The interest rates offered on BlockFi interest accounts are quite impressive. Right now you can earn:

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  • Annual percentage return of 4.5% on Bitcoin deposits up to 0.1 BTC
  • 5% annual percentage return on etherium deposits up to 1.5 ETH
  • Annual percentage return of 4.75% on Litecoin deposits up to 20 LTC
  • 8% Annual Percentage Return on Gemini Deposits up to USD 40,000B
  • 8% Annual Percentage Return on USD Coin Deposits up to C $ 40,000

The GUSD and USDC rates are particularly important because GUSD and USDC are “stable coins” that are permanently tied to the US dollar. These high interest rates thus provide crypto investors with a built-in way to mitigate some of the risks involved in trading other cryptocurrencies.

BlockFi is more than compound interest

While compound interest on crypto holdings might be the biggest carrot on BlockFi’s stick, it’s not the only one. BlockFi is a complete crypto platform which allows you to easily manage your crypto assets and optimize portfolio allocation. Users can add funds to their account with their local fiat currency, making deposits and withdrawals directly from their checking accounts.

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BlockFi also offers crypto-backed loans . Using your crypto holdings as collateral, you can get loans worth up to 50% of the value of your assets at a very competitive 4.5% APR. This allows you to mine your crypto holdings without cashing out, so you won’t be left out if the value of a currency hits you. used to have in your wallet soars down the road.

Finally, BlockFi’s latest product is the BlockFi Rewards Signature Visa Card . With no annual fees or overseas transaction fees, this credit card allows you to earn 3.5% in Bitcoin for every dollar spent for the first three months, then 1.5% on every dollar spent up to 50,000 $ per year, and 2 percent on every dollar you spend over $ 50,000 per year. It also allows you to earn 0.25% in Bitcoin on all qualifying transactions up to $ 500 in Bitcoin per month, plus $ 30 in Bitcoin for each customer referral.

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Put your crypto to work Earn more crypto

Making money on crypto took a lot of patience and a lot of luck. You would pick a coin that you thought was ripe for further appraisal, decide how much to buy, then wait and pray that it all worked out. It was more like gambling than to invest.

BlockFi simplifies investing in crypto. When you buy with them, you know exactly what to expect without sacrificing the conveniences and benefits of traditional financial products.

So if you are looking for a smarter way to build and manage your portfolio of 21st century digital assets, you need to take a look at BlockFi .

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Prices subject to change.

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