BlockFi is a savings account that earns compound interest on Bitcoin and other crypto

Making money on crypto took a lot of patience and a lot of luck. You should pick a currency that you thought was ripe for increased valuation, decide how much to buy, then wait and pray for it all to work out. In short, it was more a game than an investment. But fortunately, this is no longer the case. Now, thanks to an innovative crypto platform called BlockFi, there is a better way to invest in crypto.

Image via Unsplash

Cryptocurrencies have come a long way in the past decade. When Bitcoin took the world by storm, most financial experts thought it was just a fad. But it did not go away. Then other cryptocurrencies like Litecoin and Ehtereum came along, and the crypto just kept getting bigger. Today, crypto is widely accepted as a legitimate financial asset. In fact, some financial experts believe that young investors should allocate 1-5% of their portfolios to crypto. The only question is, what’s the smartest way to do it?

The answer is BlockFi.

BlockFi is a online crypto investment and management platform created to make investing in crypto easier and more productive. They offer a suite of wealth management products designed to serve as a bridge between the worlds of traditional finance and crypto. However, their flagship product is the BlockFi Interest Account.

The BlockFi Interest Account (BIA) is the world’s first compound interest cryptocurrency savings account. For those who may not be familiar, compound interest is when interest earned over a specified period of time is added to the principal balance. This means that you earn interest on the interest which helps you grow your money exponentially. While compound interest has been available in mainstream finance for centuries, it was not available to crypto investors until now.

Image via BlockFi

The BlockFi Interest Account allows you to earn compound interest on any cryptocurrency you keep in your account. So instead of just sitting there collecting virtual dust while you wait for the right time to sell, your cryptocurrency is actually makes you more cryptocurrency. And the current interest rates are pretty impressive.

Right now you can earn:

  • 6% annual interest on Bitcoin deposits up to 2.5 BTC
  • 3% annual interest on Bitcoin deposits above 2.5 BTC
  • 5.25% annual interest on all Etherium deposits
  • 6.5% annual interest on all Litecoint deposits
  • 8.6% annual interest on all Gemeni dollar deposits
  • 8.6% annual interest on all USDC dollar deposits

The interest rates for Gemeni dollars and USCD dollars are particularly important. Unlike other cryptocurrencies, Gemeni dollars and USDC dollars are “stablecoins” that are permanently pegged to the US dollar. So, if you allocate your funds wisely, these high interest rates on Gemni and USCD give you a built-in way to mitigate some of the risks that comes with trading other cryptocurrencies.

Image via BlockFi

Whether you’re a crypto veteran or just starting to think about incorporating crypto into your investing strategy, you simply won’t find a smarter way to buy and save than BlockFi. And now you can earn a bonus up to $ 250 in Bitcoin when you sign up and make your first deposit. So don’t just sit back and miss a thing. Click here to create your BlockFi Interest Account, today.

Futurism Fans: To create this content, a non-editorial team worked with an affiliate partner. We may charge a small commission on items purchased through this page. This post does not necessarily reflect the opinions or endorsement of the editorial team.

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