With a 6.2% APY on BTC, the BlockFi Interest Account seems like a ray of sunshine for digital asset holders that have grown used to having their holdings slosh around with market volatility. Let’s explore in our BlockFi review.
The BlockFi Interest Account:
- It allows users to earn competitive compound interest rates on their cryptocurrency (currently BTC, ETH, and GUSD).
- Keeps cryptocurrency deposits secure. BlockFi’s cryptocurrency deposits are held by the Gemini Trust Company, regulated by the New York Department of Financial Services.
- It is available worldwide, outside of sanctioned or watchlisted countries.
- Allows for anytime withdrawals. Users get one free withdrawal per month.
- It offers simple and easy registration.
The BlockFi Interest account is the only cryptocurrency storage option that pays substantial interest and offer rates that are competitive with most non-cryptocurrency interest rates. For example, high-interest savings accounts Ally Bank (1.6%) and WealthFront (1.82%) pale in comparison, although they are…