BlockFi is now offering a $20 bonus in free Bitcoin to new members. Once you have an account, you’ll earn up to 8.6% on Bitcoin, Ethereum, Litecoin, USD Coin, Gemini Dollar and Paxos Standard. You’ll also get a $50 bonus in free Bitcoin for every person you refer to this crypto service, which offers zero-fee trading, interest accounts and crypto-backed loans. See other referral promos here.
See more cryptocurrency promotions here, including offers from Coinbase, Gemini, Voyager and Swan.
Many crypto investors store their digital assets on a hardware wallet or a fiat-to-crypto exchange. While this is standard, it won’t build your crypto wealth over time, which is the whole point of investments. Here’s where BlockFi comes into play. The simple and secure platform aims to bridge the gap between cryptocurrency and traditional finance, giving you a new way to grow your wealth. Let’s go into more detail below.
BlockFi $10 Sign-Up Bonus ($20 For A Limited Time)
Get a $10 bonus in Bitcoin when you register for a free account. To qualify, follow the steps below:
- Click on this referral link.
- Enter the code ce1208e6 in the Referral Field if it doesn’t automatically load.
- Create a BlockFi account.
- Deposit $100+ worth of crypto to your BlockFi Interest Account.
- Maintain a $100+ minimum balance in any type of crypto or stablecoin for at least 30 days after initial deposit.
After completing all the above steps, you will receive your bonus with your next interest statement.
For a limited time (07/27/20 04:00:00 through 08/14/20 23:59:59 UTC), the sign-up bonus will be $20 when you create an account and deposit $500+ into your new BlockFi Interest Account. You must maintain a $500+ balance until 09/14/20 23:59:59 UTC. Use the same referral link above.
BlockFi $10 – $20 Per Referral
- Once you have an active account log in to find the “Refer a Friend” option.
- You can share your personal referral link, or share via Facebook/Twitter.
- For every new friend that signs up using your unique referral code and deposits $100+ worth of crypto, you will each earn $10 in BTC.
- Your friend will need to hold the qualifying balance at least 30 days until the following interest payment day to qualify you both for the bonus.
- After 5 qualifying referrals, you will start earning a $20 BTC bonus
Until August 14, 2020, get a $50 bonus in free Bitcoin for every person you successfully refer to BlockFi. Each of your referrals will also get a bonus of $20 in Bitcoin. Your referral must deposit $500+ into their BlockFi Interest Account an maintain at least $500+ through September 14, 2020.
BlockFi Features
BlockFi provides crypto services to individuals and businesses worldwide, including interest-earning crypto accounts, low-cost USD loans secured with crypto, a cryptocurrency trading platform and the ability to purchase stablecoins using USD wire transfers.
BlockFi Interest Account
A BlockFi Interest Account lets you store cryptocurrency and earn interest on your capital invested with the platform. The interest amount depends on the cryptocurrency:
| CRYPTOCURRENCY | AMOUNT | APY |
| Bitcoin (BTC) | 0 – 5 | 6% |
| Bitcoin (BTC) | > 5 | 3.2% |
| Ether (ETH) | > 0 | 4.5% |
| Litecoin (LTC) | > 0 | 3.8% |
| USD Coin (USDC) | > 0 | 8.6% |
| Gemini Dollar (GUSD) | > 0 | 8.6% |
| Paxos Standard (PAX) | > 0 | 8.6% |
When you store your crypto assets with BlockFi, you’ll earn a monthly interest at the beginning of each month, which will start to accrue the day after your deposit. The interest you earn compounds monthly.
There’s no minimum to invest (and no maximum). So, the BlockFi Interest Account is a great way for newbies to earn interest on crypto.
BlockFi Crypto-Backed Loan
BlockFi lets you deposit your crypto (Bitcoin, Ether or Litecoin) as collateral to get US Dollars. The same-day loans provide funds without forcing you to liquidate your assets or trigger taxable events. Here’s how it works:
- Apply, lock down your terms and get a decision within a few hours.
- Send your crypto assets to BlockFi’s secured storage address.
- BlockFi will send the funds to your bank account.
- Make monthly interest-only payments in dollars or crypto. At the end, pay back the principle or refinance.
The BlockFi loan interest rate depends on the loan-to-value (LTV) ratio you choose, which is determined by the amount of collateral you need to deposit in order to take out the loan.
| LTV | INTEREST RATE | ORIGINATION FEE |
| 50% LTV | 9.75% | 2% |
| 35% LTV | 7.9% | 2% |
| 20% LTV | 4.5% | 2% |
BlockFi Trading Platform
If you have a BlockFi account, you can trade cryptocurrencies and switch between pairs. You’ll still earn compound interest as you trade between crypto assets. Plus, there are no fees to trade.
BlockFi Wire Transfer
BlockFi lets you send cash deposits using wire transfer to purchase stablecoins directly. This feature makes it easy for crypto rookies to start investing in cryptocurrencies.
Cash deposits are automatically exchanged into GUSD, which you can then convert into the crypto of your choice.
BlockFi Fees
As mentioned before, there are no fees to trade between cryptocurrencies. However, there are withdrawal fees (and limits) on BlockFi Interest Accounts:
| CRYPTOCURRENCY | WITHDRAWAL FEE | WITHDRAWAL LIMIT |
| Bitcoin (BTC) | 0.0025 BTC | 100 per week |
| Ethereum (ETH) | 0.0015 ETH | $5K per week |
| Litecoin (LTC) | 0.0025 LTC | $10K per week |
| Stablecoins | $0.25 | $1M per week |
Bottom Line
If you’re looking for an easy way to invest in crypto and earn interest on your digital asset portfolio, BlockFi is an excellent option.
For another service that lets you earn interest on your crypto, check out Celsius. They’re also offering $20 in free BTC when you use a referral link to join.
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