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Cryptocurrencies have become an attractive investment for the forward-looking in the field of finance. Some experts have long believed they could be the future of investing. But until recently, investing in cryptocurrencies was inherently speculative.
The only way to profit was to buy goods, hold them until the price went up, and then sell. And it’s okay if you have enough resources to make a little bet. But what if there was a better way to invest in cryptocurrency?
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 isolated from the ups and downs of the stock market, some experts say younger investors should allocate 1 to 5 percent of their wallets to cryptocurrencies, assuming they can afford the risk. BlockFi was created to make investing in cryptocurrency easier and more productive.
BlockFi is an innovative online cryptocurrency investment and management platform with a number of wealth management products that connect the worlds of traditional finance and cryptocurrencies. However, their main product is the BlockFi Interest Account which allows you to use your cryptocurrencies to earn 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 are not financial and investment savvy, compound interest is when interest earned over a specified period is added to the principal balance. So basically, that’s when it comes to earning interest on 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 has not been available to crypto investors until now.
A BlockFi interest account allows you to earn compound interest on any cryptocurrency you hold in your account. So instead of standing there gathering 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
That 8.6% rate for Gemeni dollars and USCD dollars is especially important. Both the Gemeni dollars and the USDC dollars are known as “stablecoins”, which are permanently pegged to the US dollar. The high interest rate and stable value offer an integrated way to mitigate some of the risks associated with 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 is expected to earn you about $ 187 in compound interest over 36 months. A $ 2,000 investment in ETH is expected to earn $ 318 in over 36 months. And an investment of $ 2,000 in USDC or GUDC is expected to make $ 561 in 36 months.
Again, those are right projections, not guarantees. But they are very well projections.
Incredible compound interest rates on your crypto holdings could be the number one reason to join BlockFi. But that’s definitely not the only reason. BlockFi is a comprehensive crypto platform that allows you to easily manage your crypto assets and optimize wallet allocation. Users can add funds to their account with their local fiat currency and, as soon as it appears in the dashboard, start trading with zero hidden fees.
BlockFi also offers cryptocurrency-backed loans. Using your cryptocurrency as collateral, you can borrow up to 50% of the value of your assets at a highly competitive 4.5% interest rate. This allows you to put your crypto holdings to work without cash out, so you won’t be left to kick yourself if the value of a particular currency in your wallet skyrockets somewhere along the way.
If you are considering dedicating a sizable portion of your investment portfolio to cryptography, it is always advisable to start by consulting with a licensed financial advisor to make sure it is actually right for you. But make sure you do it fast, because BlockFi’s rates have never been better. And right now they also offer a $ 275 sign up bonus in BTC for every $ 25 deposit.
Click here to learn more and find out if BlockFi is right for you.
Fans of Futurism: 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 approval of the Futurism.com editors.
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