BlockFi Review

Updated: Jan 16, 2021

Earn interest on your Crypto with BlockFi

BlockFi is a financial services company on a mission to redefine financial services. They offer many financial products, such as interest accounts (offering yields far exceeding a traditional bank - up to 8.6% APY!) and loans, that you would find at a traditional bank, but for holders of cryptocurrencies like Bitcoin or USDC. These services are offered world-wide, including all U.S. states, so no matter where you are located you can take advantage of BlockFi's services. You can also trade assets between BTC, ETH, GUSD, LTC, PAX and USDC within the platform. Furthermore, it's backed by institutional investors, uses Gemini as a custodian, and operates according to U.S. laws and regulations so you can deposit your crypto with peace of mind.

Right now they are offering a 2x interest bonus (on top of market leading rates) on all funds deposited by July 18th. So what are you waiting for?






Platforms: Web & App (iOS, Android)

Deposits: Free

Withdrawals: First withdrawal fee each month; subsequent withdrawals cost 0.0025 BTC, 0.0015 ETH, 0.0025 LTC or 0.25 USD

Account Min/Max: None


  • Market leading interest account rates which put traditional banks to shame

  • No lockups or term deposits

  • Flexible interest payouts - choose to be paid out in any asset supported by BlockFi

  • Take out loans using your crypto as collateral

  • In-platform trading

  • The only independent lender backed by institutional investors such as Coinbase, Valar and Galaxy Digital

  • World-wide access to services

  • Uses Gemini as custodian

  • Follows US regulations and laws

  • Spotless track record with all the necessary security precautions

  • User friendly and simple to use across all devices

  • All interest/tax/trading reports available within the platform

  • Recurring buys *NEW*


  • Limited crypto assets available for use in interest account and as collateral for loans

  • Withdrawals are only free for the first each month and generally take about 24 hours - this is by far the biggest drawback of the platform

  • Although interest account rates are consistently amongst the best in market, there are a few other platforms that offer higher rates, especially with the widespread adoption of DeFi platforms

The Platform

The BlockFi platform is clean and simple to use on all platforms. Only the functionality you need is there so there's no searching in vain amongst endless menu options just to carry out a simple transaction.

BlockFi Web
BlockFi Web

Products and Services

BlockFi Interest Account (BIA)

The BlockFi Interest Account is the primary reason I use BlockFi. It offers rates of up to 8.6% APY on a variety of crypto assets and pays out compound interest monthly. Although competitor platforms occasionally beat these rates, BlockFi offers a number of features that set it apart. First of all, interest is compounded which is not the case across all platforms, and clients can take advantage of Interest Payment Flex, which allows interest payments in your cryptocurrency of choice, a unique offering in the market. There's no lockups, no token required to maximize rates and you can rest assured your funds are being securely stored rather than being lent out on other exchanges and platforms (Nexo recently came under fire when it was disclosed a large amount of their funds were being lent on Compound). The only downside is withdrawals are free for the first each month, but after that you have to pay a small fee.

Personally I use BlockFi to earn 6.0% interest on a portion of my spot Bitcoin holdings and my cash savings; 8.6% APY on USDC/PAX/GUSD beats any bank rate out there.

Current Interest Rates:

  • Bitcoin 6.0% APY

  • Ethereum 4.5% APY

  • GUSD 8.6% APY

  • Litecoin 3.8% APY

  • PAX 8.6% APY

  • USDC 8.6% APY

BlockFi Crypto Loans

Need dollars but don't want to sell your crypto holdings? With BlockFi you can use your crypto as collateral and received a USD loan funded directly to your bank account. Loans range from $5,000 to $10,000,000 with a maximum LTV (loan to value) of 50% for up to 12 months. Current interest rates are only 4.5% so rather than selling your crypto and taking the capital gains tax hit, take out a BlockFi to pay off your crypto or come up with that down payment.

Getting a loan with BlockFi is easy - just log in to the platform, deposit your collateral, and you're just a few steps away from USD in your bank account.

BlockFi Loan
BlockFi Loan Process


BlockFi offers fee-free instant trading within their platform. It's quick and easy though the assets to exchange are limited to BTC, ETH, LTC, USDC and GUSD. A new feature they've recently added is the ability to set up recurring buys. That's right, now you can automate your DCA on Bitcoin and Ethereum while earning interest on all assets in your account. It doesn't get much better than that.

BlockFi Trading
BlockFi Trading


The first thing I look into whenever I consider depositing my cryptocurrency anywhere, is how secure the platform is. In my opinion, in the crypto lending and interest space it doesn't get any safer than BlockFi. Of course any financial product has risks and I strongly encourage you to do your own research before trusting your funds with any platform, but BlockFi uses Gemini as their primary custodian, which is licensed and regulated by the NYDFS. BlockFi is also backed by leading institutional investors and boasts a team of incredibly talented people with the resumes to back them up, especially with the addition of Adam Healy recently.

But how do they pay out so much more than a traditional bank? Simple - they lend out the assets deposited on the platform. This isn't that much different than a traditional bank but the premiums on crypto loans and the current demand allow organizations to offer attractive rates. They have a Money Services Business (MSB) registration at the federal level, and state level lending licenses and Money Transmitter Licenses (MTLs) so you can rest assured there's nothing dodgy happening behind the scenes.

Furthermore, they offer 2FA which in my opinion is a must for any platform these days.


Zac Prince, CEO & Founder



Zac has spent most of his career in adtech where we has a part of two successful acquisitions: Admeld (acquired by Google) and Sociomantic (acquired by DunnHumby). Prior to BlockFi he also led business development teams at Orchard Platform and Zibby, both tech companies focused on the lending space.

Flori Marquez, Co-Founder & VP of Operations



Flori has spent her career managing alternative lending products including Bond Street (acquired by Goldman Sachs), where she was Head of Portfolio Management.

Adam Healy, Chief Security Officer LinkedIn


Adam Healy is one of the newest team members of BlockFi as recently announced by Coindesk. Adam has 15 years of security experience including within the U.S. Department of Defense, Microsoft, and more recently as the Chief Information Security Officer for Bakkt. This is a huge step for the organization trying to make a name in a space plagued with security concerns and in my mind solidifies them as by far the leader in the cryptocurrency interest and loan space.

Other Team Members

Rene van Kestern, Chief Risk Offer (LinkedIn): Former Managing Direcor of ML Professional Clearing / Prime Brokerage at Bank of America Merrill Lynch

Mahesh Paolini-Subramanya, CTO (Linkedin): Former CTO of Factom and VP of Ubiquiti Networks

Amit Cheela, SVP of Finance (LinkedIn): Former Officer of Finance and Operations at Coastal Investment Management

David Spack, Chief Compliance Officer (LinkedIn): Former Chief Compliance Officer at ConsenSys/Token Foundry

Wittney Rachlin, Chief Growth Officer (LinkedIn): Former General Manager and VP at Prudential Financial and VP of Commercial Charge Cards at American Express


BlockFi is the future of financial services. They provide market leading crypto-backed loans and crypto interest accounts where you can earn monthly compounding interest on your crypto. I've been a customer at BlockFi for a while now and love receiving my interest every month, and more importantly they give me peace of mind about my funds that I simply don't feel about other platforms.

So don't wait - sign up below to take advantage of rates up to 8.6% APY with 2x interest through August!

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Disclaimer: this is not financial advice and is in no way responsible for any claims, losses or expenses that may result by following information available on this site. may be entitled to referral bonuses when readers make use of referral links on