BlockFi successfully offers cryptocurrency investors an exclusive chance to maximize the potential of their precious cryptocurrency assets. This platform that performs much like a bank offers a great alternative to traditional investing with yields that are comparable to that of real-world monetary assets. This BlockFi review recommends it as one of the best options available for cryptocurrency investors.
If you are looking for a reliable investment platform that caters to cryptocurrencies, BlockFi is one of the best options available. It is also one of the very few options available to cryptocurrency investors and the goal is to offer a hub for borrowing, trading, and earning interest on cryptocurrencies. Although it is not officially a bank, it conducts all of its business, like one.
The interest rates offered by BlockFi are around 43x higher than the standard high-yield savings accounts and this extremely fast-growing platform is valued at over $3 Billion. The revenues are also largely increasing every single month. Check out this Trade Ideas review for more financial information.
BlockFi was founded in 2017 by Zac Prince and the venture was hugely funded through seed funding including from the investment platform SoFi Invest. You can read the SoFi Invest review for more information. The main attractions to BlockFi are the basically non-existent BlockFi fees, high-interest rates, and the fact that it is a heavily reliable platform in which you can manage cryptocurrency assets.
For all cryptocurrency traders who are looking to consolidate their investments, it seems as if BlockFi is one of the best bank-like options on the market right now. Let’s take a deeper look into the pros and cons so that we can decide whether or not BlockFi is the platform for you.
The pros and cons of BlockFi
BlockFi has many favorable features as well as pros. People seem to be particularly impressed with all of the banking options it offers and thanks to its opportunities to earn high yields from interest, customers can also take USD loans out against their cryptocurrency assets. Furthermore, BlockFi also goes as far as to support a large range of cryptocurrencies that include, but are not limited to, Bitcoin, Ethereum, and Litecoin.
Pros
- Very few fees
- Best interest rates on the market
- Offers borrowing and trading of cryptocurrency
Cons
- Requires at least a base knowledge of cryptocurrency to get started
- High-interest rates are not available on all coins
Is BlockFi right for you?
People tend to have in their minds that BlockFi is the future of cryptocurrency, and it really isn’t hard to see why. Although it may not have the same initial protections that are offered by a traditional bank, no customer has ever lost money with BlockFi. Its absolutely spectacular security precautions and the way it operates in this low-interest environment make it an ideal location to store and earn money on cryptocurrency assets.
Create an account with BlockFi today and claim up to $250 in bitcoin when you make a deposit.
