This innovative startup allows you to earn compound interest on your cryptocurrency

Cryptocurrencies have become an attractive investment for avant-garde financials. Some experts have long believed that they could be the future of investing. But until recently, investing in cryptocurrencies was inherently speculative.

The only way to make money on them was to buy assets, hold them until the price went up, and then sell them. And that’s good if you have enough resources to take a little risk. But what if there was a better way to invest in crypto?

Well now there is a better way, thanks to an innovative crypto startup called BlockFi.

As you probably know, there is a lot of volatility and unpredictability in the cryptocurrency market. However, because cryptocurrencies have so much raw potential and because they are relatively insulated from the ups and downs of the stock market, some experts say young investors should allocate 1-5% of their portfolios to crypto. , assuming they can afford the risk. BlockFi was created to make investing in crypto easier and more productive.

BlockFi is an innovative online crypto investment and management platform with a number of wealth management products that connect the worlds of traditional finance and crypto. However, their flagship product is the BlockFi Interest Account which allows you to put your crypto holdings to work by earning compound interest, dramatically increasing your Bitcoin, Ether, Litecoin, USD Coin, and Gemini Dollar balances over time.

Image via Unsplash

The revolutionary BlockFi Interest Account (BIA) is the World’s First Compound Interest Cryptocurrency Savings Account.

For those who are not experts in finance and investing, compound interest is when the interest earned over a specified period is added to the principal balance. So basically it’s when you earn interest on the interest you have already earned, which helps you grow your money exponentially.

Compound interest has been available in traditional finance for centuries. However, it was not available to crypto investors until now.

A BlockFi Interest Account allows you to earn compound interest on any cryptocurrency you keep in your account. So instead of just sitting around collecting virtual dust while you wait for the right time to sell, your cryptocurrency 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
  • 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

This 8.6% rate for Gemeni dollars and USCD dollars is particularly important. Gemeni dollars and USDC dollars are so called “stablecoins”, which are permanently linked to the US dollar. The high interest rate and stable value provide a built-in way to mitigate some of the risks involved in trading other cryptocurrencies.

So how much money can you make with a crypto compound interest account? BlockFi has created a handy interest calculator based on the current USD value of various cryptocurrencies. Right now, a $ 2,000 investment in BTC should earn you around $ 187 in compound interest over 36 months. A $ 2,000 investment in ETH is expected to return $ 318 over 36 months. And a $ 2,000 investment in USDC or GUDC should return $ 561 over 36 months.

Again, these are just projections, no guarantees. But they are very good projections.

Image via BlockFi

Amazing compound interest rates on your crypto holdings could be the number one reason to sign up for BlockFi. But that is certainly not the only reason. BlockFi is a complete crypto platform which allows you to easily manage your crypto assets and optimize portfolio allocation. Users can add funds to their account with their local fiat currency and, as soon as it shows up in their dashboard, start trading with no hidden fees.

BlockFi also offers crypto-backed loans. Using your crypto as collateral, you can get loans worth up to 50% of the value of your assets at a very competitive interest rate of 4.5%. This allows you to operate your crypto holdings without cash in, so you won’t be left out if the value of a particular currency in your wallet skyrockets somewhere down the road.

If you are planning to devote a significant portion of your investment portfolio to crypto, it is always wise to consult a licensed financial advisor first to make sure it is right for you. But make sure you do it quickly, because BlockFi’s pricing has never been so good. And right now they are also offering a sign up bonus of $ 275 in BTC for any deposit of $ 25.

Click here to find out more and find out if BlockFi is right for you.

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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