BlockFi
Have any of you used BlockFi and can write a few words about it.
Have any of you used BlockFi and can write a few words about it.
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In short, BlockFi is a lending platform that allows you to earn interest on your crypto as well as obtain USD without having to sell your crypto through a secured loan. BlockFi offers a cryptocurrency interest account and cryptocurrency secured loans. The cryptocurrency interest account allows anyone to mortgage their cryptocurrencies by lending them to BlockFi at a fixed annual rate ( here you will find an interest calculator for lender and borrower ).
The cryptocurrency secured lending service allows anyone to borrow USD (or other fiat currencies) against their cryptocurrency holdings.
It only supports 3 cryptocurrencies (Bitcoin, Ether and Litecoin).
There are concerns about whether it is safe. BlockFi has already paid interest over $50 million and is backed by large and reputable crypto industry players.
With investors such as Coinbase Ventures and Consensys on board, and advisors such as Galaxy Digital's Chris Ferraro, BlockFi is a powerful vote of confidence from some of the brightest minds in the cryptocurrency space.
BlockFi turned out to be trustworthy, you have to remember that the company started operations in 2019 and is not long enough to draw any conclusions yet.
In short, BlockFi is a lending platform that allows you to earn interest on your crypto as well as obtain USD without having to sell your crypto through a secured loan. BlockFi offers a cryptocurrency interest account and cryptocurrency secured loans. The cryptocurrency interest account allows anyone to mortgage their cryptocurrencies by lending them to BlockFi at a fixed annual rate ( here you will find an interest calculator for lender and borrower ).
The cryptocurrency secured lending service allows anyone to borrow USD (or other fiat currencies) against their cryptocurrency holdings.
It only supports 3 cryptocurrencies (Bitcoin, Ether and Litecoin).
There are concerns about whether it is safe. BlockFi has already paid interest over $50 million and is backed by large and reputable crypto industry players.
With investors such as Coinbase Ventures and Consensys on board, and advisors such as Galaxy Digital's Chris Ferraro, BlockFi is a powerful vote of confidence from some of the brightest minds in the cryptocurrency space.
BlockFi turned out to be trustworthy, you have to remember that the company started operations in 2019 and is not long enough to draw any conclusions yet.
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