Compound interest

This Innovative Startup Lets You Earn Compound Interest On Your Cryptocurrency

Cryptocurrencies have become an attractive investment for financial forward thinkers. Some experts have long believed they could be the future of investing. But until recently, investing in cryptocurrencies was inherently speculative.

The only way to make money with them was to buy assets, hold them until the price rose, and then sell them. And that’s fine if you have enough resources to take a small bet. What if there was a better way to invest in crypto?

Well, now there is a better way, thanks to an innovative crypto startup called BlockFi.

As you probably know, there is a lot of volatility and unpredictability in the cryptocurrency market. However, because cryptocurrencies have so much raw potential and because they are relatively insulated from the ups and downs of the stock market, some experts say young investors should allocate 1-5% of their portfolios to crypto. , assuming they can afford the risk. BlockFi was created to make investing in crypto easier and more productive.

BlockFi is an innovative online crypto investment and management platform with a number of wealth management products that bridge the worlds of traditional finance and crypto. However, their flagship product is the BlockFi Interest Account which allows you to put your crypto holdings to work by earning compound interest, dramatically increasing your Bitcoin, Ether, Litecoin, USD Coin, and Gemini Dollar balances over time.

Image via Unsplash

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

For those who are not financial and investment experts, compound interest is when interest earned over a period of time is added to the principal balance. So basically it’s when you earn interest on the interest you’ve already earned, which helps you grow your money exponentially.

Compound interest has been available in traditional finance for centuries. However, it was not available for crypto investors until now.

A BlockFi Interest Account allows you to earn compound interest on any cryptocurrency you keep in your account. So instead of sitting around collecting virtual dust waiting for the right moment to sell, your cryptocurrency actually gives you back more cryptocurrency. And current interest rates are quite impressive.

Right now you can earn:

  • 6% annual interest on Bitcoin deposits up to 2.5 BTC
  • 3% annual interest on Bitcoin deposits over 2.5 BTC
  • 5.25% annual interest on all Etherium deposits
  • 5% annual interest on all Litecoint deposits
  • 8.6% annual interest on all Gemeni dollar deposits
  • 8.6% annual interest on all USDC dollar deposits

This rate of 8.6% for Gemeni dollars and USCD dollars is particularly important. Gemeni dollars and USDC dollars are so-called “stable coins”, which are permanently pegged to the US dollar. The high interest rate and stable value provide a built-in way to mitigate some of the risks associated with trading other cryptocurrencies.

So how much money can you make with a crypto compound interest account? BlockFi has created a handy interest calculator based on the current USD value of various cryptocurrencies. Right now, a $2,000 investment in BTC should earn you around $187 in compound interest over 36 months. A $2,000 investment in ETH is expected to return $318 in over 36 months. And a $2,000 investment in USDC or GUDC should return $561 over 36 months.

Again, these are just projection, no guarantees. But they are very good projections.

Picture via BlockFi

Incredible compound interest rates on your crypto holdings could be the main reason to sign up with BlockFi. But that’s certainly not the only reason. 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, and as soon as it appears in their dashboard, start trading with no hidden fees.

BlockFi also offers crypto-backed loans. By using your crypto as collateral, you can get loans worth up to 50% of the value of your assets at a very competitive interest rate of 4.5%. This allows you to put your crypto holdings to work without cash out, so you won’t have to kick yourself if the value of a particular currency in your wallet skyrockets somewhere down the road.

If you’re considering devoting a significant portion of your investment portfolio to crypto, it’s always wise to start by consulting a licensed financial advisor to make sure it’s actually right for you. But be sure to do it quickly, because BlockFi’s rates have never been better. And right now they are also offering a sign-up bonus of $275 BTC for every $25 deposit.

Click here to learn more and find out if BlockFi is right for you.

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