DON'T USE BANK ACCOUNTS... USE BLOCKFI!!! 8.6% Compound Crypto Interest

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Here is my passive income strategy for investing in Bitcoin, how much I plan to invest in Bitcoin, my thoughts on Blockchain, BlockFi, a BlockFi review, BlockFi safety, cryptocurrency and stable coins, and the future of Bitcoin investing plus ethereum, litecoin, cryptocurrency ideas, and more.

UPDATE: BlockFi seems to have decent exchange rates now! You could ACH transfer to BlockFi and use their exchange to buy supported cryptocurrency like Bitcoin (BTC) and Ethereum (ETH). Definitely keep an eye on them, and shop around to make sure you're getting a fair deal.

ABOUT: In this video we’re taking a look at BlockFi which offers a cryptocurrency interest account. Very similar concept to a normal bank account that offers interest, just with cryptocurrency instead of dollars and an interest rate of up to 8.6%! We go over the company, product, and considerations to take about using BlockFi. At the end I give you the verdict on BlockFi. Thanks for watching!

MORE INFO: BlockFi was founded in 2017 right here in the US by Zac Prince who is also the CEO, and has a lot of experience with start ups. They offer a cryptocurrency interest account where you can earn up to 8.6% APY at the time of this video, with no minimum deposit.

BlockFi uses their holdings to lend primarily to institutional and corporate organizations which is pretty much the exact same as what banks do with the money in your bank account, it doesn’t just sit there collecting dust.

BlockFi holdings are held by the Gemini Trust Company, who also run one of the largest crypto currency exchanges and are regulated by the New York Department of Financial Services. They keep 95% of assets in cold storage and the other 5% are in hot wallets that are insured by Aon. Users can also borrow money almost instantly up to 50% of their total account value with cryptocurrency as the collateral

You can trade cryptocurrencies directly on BlockFi but the exchange rate is pretty bad. I would just buy whatever crypto you want on a dedicated exchange like Gemini, Coinbase then send it to your BlockFi wallet.

BlockFi manages and stores your wallets on their end so there is the concern of not your wallet not your coins. They’re a reput ... https://www.youtube.com/watch?v=QQKiods6E2A