Crypto lending company BlockFi has launched new cryptocurrency deposit accounts that
BlockFi will pay the interest on a monthly basis which also compounds, enabling users to earn an effective yield of 6.2% on their crypto deposits. The minimum deposit amount is 1 Bitcoin and/or 25 Ethereum. The company originally started with crypto-to-USD loans and are now expanding their services through the BIA.
What does BlockFi do with your BTC and ETH deposits?
According to BlockFi, the company generates interests on the assets by lending them to institutional and corporate borrowers. BlockFi lends crypto on
Are the funds safe?
BlockFi will hold its crypto deposits with Gemini, which is one of the leading custody providers in the cryptocurrency space. Gemini had recently announced digital asset insurance coverage and the completion of its SOC 2 Type 1 security compliance review of its exchange and custodian platform.
In addition, BlockFi is backed by asset management firm Morgan Creek Digital which is founded by the charismatic crypto influencer Anthony Pompliano aka Pomp. This should boost confidence of investors depositing their hard earned cryptos into the platform.
Can Indian cryptocurrency investors deposit BTC and ETH on BIA?
Yes, Indian cryptocurrency investors can also deposit Bitcoin and Ethereum and earn interest on the platform. You can choose to sign up with our referral link: https://blockfi.com/?ref=ea40aac9
Please note that this article is not an endorsement for BlockFi, and is only meant for information purposes. Kindly do your own research before depositing your BTC and ETH on
(Image Credit: BlockFi Website)
