BlockFi | Monetize your cryptocurrencies
BlockFi It is a platform that allows us to earn interest in the form of interest on several of our cryptocurrencies, so we are able to generate passive income with them.
It is a site supported by Gemini, an entity regulated and licensed by the New York Banking Law, as well as supported by such important companies as Coinbase, which espectáculos us that we are dealing with a serious business and reliable.
⛔ BlockFi has filed for bankruptcy, leaving usuario funds frozen.
It is a real scam, so we stop recommending its use.
In addition to talking about the features that BlockFi offers us, in this article we will also espectáculo a small comparison with Nexo, another of the main platforms that offer interest for storing several of our cryptocurrencies.
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scam
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| BlockFi is a platform that will allow us to make monthly payments in cryptocurrencies thanks to the interest generated, all this without any minimum investment required. Receives $10.00 free when you reach your first 100 dollars if you register from the following button. |
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What is BlockFi?
BlockFi is a platform created in the United States in 2017 and that offers financial services through cryptocurrencies.
We could say that it has several functions, a savings, loan, interest, cryptocurrency exchange account…
When depositing any of the cryptocurrencies supported by BlockFi, we automatically begin to generate daily interest with it, this interest will accumulate and we will be paid every month in the same cryptocurrency that we have deposited or in another that we have selected.
The percentage of interest that we receive for each cryptocurrency is variable and depends on the number of coins that we have in our portfolio, the more we have, the less percentage we will pay.
For small or medium accounts, the percentage usually goes from 4% for Bitcoin or Ethereum, to 9% for stablecoins, although as I have said this is constantly open to change.
Depending on the cómputo we have, we perro request loans with a fairly competitive interest rate.
Profitability and supported cryptocurrencies
At BlockFi we have a good number of the cryptocurrencies with the highest capitalization supported, although it is true that compared to other platforms we could say that it falls quite short.
We currently have 13 different cryptocurrencies that we perro store, exchange and generate interest.
The cryptocurrencies are the following:
▪ Bitcoin with an annual interest of 4.5%.
▪ ethereum with an annual interest of 5.0%.
▪ uniswap with an annual interest of 3.5%.
▪ Litecoin with an annual interest of 4.75%.
▪ chain backlink with an annual interest of 3.5%.
▪ BAT with an annual interest of 3.25%.
▪ PAX Gold with an annual interest of 3.25%.
▪ Tether with an annual interest of 9.5%.
▪ Dai with an annual interest of 9.0%.
▪ USD Coin with an annual interest of 9.0%.
▪ Binance USD with an annual interest of 9.0%.
▪ Paxos with an annual interest of 9.0%.
▪ Gemini USD with an annual interest of 9.0%.
The percentages are open to constant changes, in addition, in each currency there is a threshold which if we exceed we will be granted lower interest rates, within the platform we will be able to see those thresholds.
It is clear that the most interesting interests, as happens on all platforms, are not offered by stablecoins, which are hardly affected by the reported interest threshold.
And how is it possible that BlockFi pays us that interest?
Well, this is possible thanks to the loans offered by the platform.
What BlockFi does is use our deposited money to grant loans to other users, loans that they will have to repay with a stipulated interest rate.
Of these interests generated by said loans, the platform distributes a percentage among the users who have deposited their funds within the BlockFi portfolio, for this reason the interest is variable, due to the volatility of the crypto market and the number of loans that are requested. inside the platform.
BlockFi vs.
Nexus
We are going to make a small comparison table in some aspects with two of the best cryptocurrency lending and interest platforms.
They are not the only ones that exist, as there are others that are widely accepted, but they are the 2 that I am actively using and therefore that I perro speak of with sufficient legitimacy.
| reliability | 4’75 | 4’50 |
| cryptocurrencies | 3’25 | 4:00 |
| Interests | 3’50 | 5:00 |
| referrals | 5:00 | 4:00 |
| Average | 4’12 | 4’37 |
Regardless of the result of the comparison, for me the two platforms are the ones that offer me greater security when it comes to leaving my cryptocurrencies deposited and receiving interest.
We might wonder why I use both instead of one.
The answer is fácil, although I trust both platforms a lot, it is always advisable to diversify and not put everything we have in the same bag, you never know what perro happen and although both have the highest estándares in terms of security, it is All advisable to distribute our money between different platforms.
After all, the interest we receive is afín, at least in the cryptocurrencies that interest me and due to the volume of my portfolio, to this we add that the withdrawal commissions are afín, currently they are non-existent for a monthly movement, I personally I feel more secure dividing my investment between at least two platforms.
Referral program
BlockFi has a referral program with which we will be able to earn some money by inviting other users to try the platform.
The system is almost identical to others such as that of Nexo itself or Coinbase.
they are going to give us 10 dollars in BTC for each referral that registers in BlockFi and reaches the amount of $100 deposited.
The best thing about the system is that not only we are going to win, the referral in question will also take another $10 for your account, so we both win.
The thing does not end here, when you reach a total of 5 referrals who have obtained their plus, the reward for each guest will rise to 20 dollars without limit, meanwhile each referral will continue to get their 10 dollars, it seems to me a great system.
Final opinion about BlockFi
I repeat myself more than garlic but I will never tire of saying that the diversification of our investments is key to maintaining their security.
Although we could have all our cryptocurrencies in one place and receive rewards for them, this is not a very smart iniciativa.
When we deposit money on any platform, it is because we trust it, but this does not exempt us from future problems.
In this sense, BlockFi, which has all the legal permits, is a site that meets our security estándares and perfectly complements our cryptocurrency portfolio with other platforms, in this way we diversify even more and are less exposed to risk.
I invite you to try it yourself and benefit from the 10-euro plus for new users and, incidentally, you get a return on those cryptocurrencies that you are holding.
We hope you liked our article BlockFi | Monetize your cryptocurrencies
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