This Innovative Startup Lets You Earn Compound Interest on Your Cryptocurrency
Thanks to the BlockFi Interest Account, you can put your crypto to work for you.
Cryptocurrencies have become an attractive investment for forward-thinkers in finance. Some experts have long believed they could be the future of investing. But until recently, investing in cryptocurrencies has been inherently speculative.
The only way to make money on them was to buy assets, hold on to them until the price went up, and then sell. And that’s fine if you have enough resources to take a bit of a gamble. 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’s a lot of volatility and unpredictability in the cryptocurrency marketplace. 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 younger investors should allocate anywhere from 1 to 5 percent 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 investing and management platform with a number of wealth management products that bridge the worlds of traditional finance and crypto. However, their marquee product is the BlockFi Interest Account that lets you put your crypto holdings to work earning compound interest, significantly increasing your Bitcoin, Ether, Litecoin, USD Coin, and Gemini Dollar balances over time.
The revolutionary BlockFi Interest Account (BIA) is the world’s first compound interest cryptocurrency savings account.
For those who aren’t financial and investing experts, compound interest is when the interest earned over a specified period is added to the principle balance. So basically, it’s when you get to earn interest on interest the interest you’ve already earned, which helps you grow your money exponentially.
Compound interest has been available in traditional finance for centuries. However, it hasn’t been available for crypto investors until now.
A BlockFi Interest Account lets you 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 actually makes you more cryptocurrency. And the current interest rates are pretty impressive.
Right now you can earn:
- 6% in annual interest on Bitcoin deposits up to 2.5 BTC
- 3% in annual interest on Bitcoin deposits over 2.5 BTC
- 5.25% in annual interest on all Etherium deposits
- 5% in annual interest on all Litecoint deposits
- 8.6% in annual interest on all Gemeni Dollar deposits
- 8.6% in annual interest on all USDC Dollar deposits
That 8.6% rate for Gemeni Dollars and USCD Dollars is particularly important. Both Gemeni Dollars and USDC Dollars are what’s known as “stablecoins,” which are permanently pegged to the US dollar. The high interest rate and stable value offers a built-in way to mitigate some of the risk that comes with trading in other cryptocurrencies.
So how much money can you earn with a crypto compound interest account? BlockFi created a handy interest calculator based on the current USD value of various cryptocurrencies. Right now, a $2,000 investment in BTC is projected to earn you roughly $187 in compound interest over 36 months. A $2,000 investment in ETH is projected to earn $318 in over 36 months. And a $2,000 investment in USDC or GUDC is projected to earn $561 over 36 months.
Again, those are just projections, not guarantees. But they are very good projections.
Amazing compound interest rates on your crypto holdings might be the number one reason to sign up for BlockFi. But it’s definitely not the only reason. BlockFi is a comprehensive crypto platform that lets you 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 begin trading with zero hidden fees.
BlockFi also offers crypto-backed loans. Using your crypto as collateral, you can get loans worth up to 50 percent of the value of your assets at a highly competitive 4.5 percent interest rate. This lets you put your crypto holdings to work without cashing out, so you won’t be left kicking yourself if the value of a particular currency in your portfolio skyrockets somewhere down the road.
If you’re thinking about dedicating a sizable chunk of your investment portfolio to crypto, it’s always wise to start by consulting a licensed financial advisor to make sure it’s actually right for you. But be sure to do it fast, because BlockFi’s rates have never been better. And right now they’re also offering a sign-up bonus of $275 worth of BTC for any $25 deposit.
Click here to learn more and find out if BlockFi is right for you.
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