Best For

      Retail Lenders
      Institutional Lenders
      Blockchain Focused Companies

BlockFi is a regulated and licensed crypto asset lending platform based in New York. The company began operations in 2017 and now services a global customer base. In 2019, BlockFi introduced compound interest account products to both retail and institutional grade customers.

BlockFi Interest Account - 2020 Comprehensive Review

Overall Score:

8
Trusted
Global Access:
8 of 10
Interest Accounts:
6 of 10
Ease of use:
8.5 of 10
Trust:
8.5 of 10
Fees & Rates:
7.5 of 10
Support:
7 of 10

BlockFi Interest Account Overview

APY Rates3.8% - 8.6%
Interest Earning AssetsBTC, ETH, GUSD, USDC, LTC
Rate VariabilityFixed, Low Variable
Earn Interest onStablecoin, Crypto
Deposit Amounts$1 - $1,000,000
Payout FrequencyMonthly
Lockup TermsFlexible
Compound InterestYes
Network TokenNo
Token BenefitNo Token
Platform TypeCentralized Lender
Deposit InsuranceTrue
Credit checkNo
KYC CheckYes
Platform FeesNo Fees
Supported RegionsAll Countries
Excluded RegionsSanctioned Countries

BlockFi Interest Rates (APY)

Earn OnAPY Rate
BitcoinBTC6.2%
EthereumETH4.8%
Gemini DollarGUSD8.6%
USD CoinUSDC8.6%
LitecoinLTC3.8%

BlockFi Interest Account Alternatives

Rating8/107.5/108.5/10
Best Stablecoin APY RateGUSD 8.6%DAI 1134200.00%USDT 8%
Locked TermsFlexibleFlexibleFlexible
Payout FrequencyMonthlyDailyDaily
Compound InterestYesYesYes
Deposit InsuranceYesNoYes
KYC CheckYesNoYes
Credit CheckNoNoNo
Learn MoreReviewReviewReview

Pros and Cons

Pros

  • Compound Interest - BlockFi crypto interest accounts earn monthly compounding interest on their account balances.
  • Competitive Interest Rates - Investors can earn higher than average APY rates on Bitcoin, Ethereum, and GUSD balances with the BlockFi interest account.
  • Interest Payment Flex - BlockFi allows users to receive interest payments in the supported crypto asset of their choice.
  • Trusted Custodian - BlockFi uses Gemini Custody, a reputable and insured industry custodian, to maintain and secure company account balances.
  • Available Worldwide - The BlockFi interest account is available in most countries.
  • No Asset Lockups - Users are free to withdrawal their crypto asset account balances at any time, without penalty.
  • Institutional Backing - BlockFi has raised multiple rounds of venture capital from reputable firms. The company is operationally financed for years to come.

Cons

  • Variable Interest Rate - APR interest rates are subject to change at any time as per the BlockFi terms and conditions.
  • No Insurance - BlockFi interest account balances are not insured.
  • Privacy - Users are required to submit identity documentation and pass a standard KYC procedure in order to use the BlockFi interest account.

Frequently Asked Questions

Does BlockFi have a mobile app?

What crypto assets does the BlockFi interest account support?

Does BlockFi offer compound interest on account balances?

What is the minimum deposit with the BlockFi interest account?

Are BlockFi interest accounts available to US residents?

Summary

BlockFi has quickly become one of the most trusted and reputable crypto lending platforms in the industry. Retail and institutional clients are earning compound interest on their crypto assets with no lockup restrictions across dozens of countries worldwide.

The company has secured years of operational runway from several reputable venture capital firms and plans to expand services into India and Latin America in 2020. Recently, minimum deposit requirements were removed and as a result, their compound interest account product has become considerably more accessible to retail users.

Blockfi is a legitimate blockchain finance company offering interest payments on crypto assets. Their interest account product is a solid option for retail investors, institutional investors, and blockchain focused companies.

Learn More Best Features

BlockFi's Official Website

  • Earn 8.6% Interest on stablecoins USD Coin (USDC), and Gemini Dollar (GUSD)
  • Earn 5.1% Interest on Bitcoin BTC
  • Based and Regulated in the United States

Legal & Regulation - Facts & Figures

Legal Name BlockFi Inc.
Incorporated Country United States
Headquarters New York, NY United States
Year Founded 2017
CEO Zac Prince
Total Employees 100
Regulators U.S State Lending Regulators
Links Website, Crunchbase, Whitepaper, Twitter, Blog, LinkedIn

Methodology: How We Review And Compare

Our mission is to provide the most informative, unbiased, and useful reviews and comparisons possible for products and services in the blockchain finance industry. Assessments are powered by experts with years of relevant experience.

The interest product providers found in this category have been tested extensively by our team as part of the review process. Factors we analyze in our interest product reviews and comparisons include: APR rates, compound interest, available assets, terms and fees, and deposit amounts.

The Blockfer Promise: We do everything in our power to keep content up to date and in the best interests of our audience. Blockfer does not shy away from poor ratings. Products or services that do not meet our reputability standards will be rated as 'Not Trusted'. Compensation from partners does not, and will never, effect our review process.

Make Better Decisions With Your Crypto.
How We Earn Revenue
Make Better Decisions With Your Crypto.
How We Earn Revenue