BlockFi offers a trading account that allows you to earn interest on your cryptocurrency (up to a limit), borrow cash against it, and buy or sell crypto. The BlockFi account has no minimum balances and no hidden fees, and you start earning interest as soon as you start trading.
As one of their newest products, they also offers a credit card to earn bitcoin with your purchases and get other bonus bitcoin rewards.
What Is BlockFi?
Zac Prince and Flori Marquez founded BlockFi in 2017 to provide credit services to markets with restricted access to simple products like a savings account.
Since its foundation, the company has had institutional backing from top-industry investors to keep improving its services, like Coinbase Ventures, Valar Ventures, Morgan Creek Capital Management, Galaxy Digital, Susquehanna Government Products, or Winklevoss Capital.
BlockFi team consists of professionals with extensive expertise across financial services and technology with offices in New York, New Jersey, Poland, and Argentina. Additionally, Gemini Trust Company, LLC, a New York trust company regulated by the New York State Department of Financial Services, is BlockFi’s principal custodian.
What sets them apart from other crypto asset service providers is the combination of offering institutional-quality benefits and market-leading competitive rates. Also, they work hard to treat customers and partners with world-class support and customer service, valuing a relationship that makes a business successful.
What Does BlockFi Offer?
BlockFi wants to provide competitive interest rates and traditional banking benefits in the cryptocurrency space. These are the products they currently offers:
- BlockFi Interest Account: When you start trading cryptocurrency, you can earn interest at the interest rate detailed on their website. The interest in the BlockFi account accrues daily and is paid monthly. There are no fees or minimum balances for the account.
- Trading Account: Buy, sell, or exchange various cryptocurrencies at very competitive prices. As soon as you start trading, you will also begin earning interest in your BlockFi account.
- Crypto-Back Loans: Borrow money against the cryptocurrency in your account, instead of having to sell your crypto to get cash. The APR for this loan can be found on BlockFi’s website.
- BlockFi Credit Card: You can earn a percentage of your purchases in Bitcoin and access other bonus Bitcoin rewards when you use your BlockFi credit card. With a set limit, you can use it anywhere where Visa is accepted to make payments. And to make the BlockFi credit card cooler, it comes in metal rather than plastic.
How Do You Get Started?
If you want to start buying, selling, and exchanging cryptocurrencies at very competitive rates while earning interest with reasonable interest rate and earn Bitcoin rewards on your credit card purchases. Opening your account is quick and straightforward:
- Visit their website to sign up for an account.
- Fund your account with USD, crypto, or stablecoins.
- Start trading to begin earning interest.
- Join the BlockFi credit card waiting list.
