• Why Trade With BlockFi?

    BlockFi offers financial products for cryptocurrency holders to do more with their digital assets.

     

    Our product, BlockFi Trading, enables clients to buy, sell, or trade cryptocurrency on the platform with zero transaction fees.

     

    BlockFi aggregates liquidity from a number of exchanges to offer seamless trade execution and pricing. Trades can only be executed within the BlockFi Wallet. Trades execute instantly and the resulting assets are immediately available to the client within your BlockFi Wallet.

     

    Some state restrictions to trading pairs may apply.

     

    Not all products and services are available in all geographic areas and are subject to applicable terms and conditions. Eligibility for particular products and services is subject to final determination by BlockFi.

      How do I trade assets within my BlockFi Interest Account (BIA)?

      All transactions, including receiving assets onto the platform, trading, borrowing and withdrawals are conducted within the Wallet. Trading can no longer be conducted within your BIA, you must first move the assets you’d like to trade from your BIA to your Wallet.

       

      Please note that US-based clients will not be able to move assets back into your BIA once you transfer them to your Wallet to make a trade.

      Who is eligible to have a BlockFi Interest Account?

      As of February 15, 2022, the BlockFi Interest Account (BIA) is available only to non-US clients. See our product availability article for more information.

       

      US-based BlockFi clients with Interest Accounts before February 15, 2022 can maintain the asset balances within their BIA, but they can no longer add assets to their account. Assets that remain in the BIA will continue to earn crypto interest.

       

      The BlockFi Wallet is your new default location to receive assets. Within the Wallet, you can buy, sell, borrow and store assets.

       

      The BIAs have not been registered under the Securities Act and may not be offered or sold in the United States, to U.S. persons, for the account or benefit of a U.S. person or in any jurisdiction in which such offer would be prohibited.

       

      What could be improved

      Limited free withdrawals

      You can make one free crypto withdrawal and one free stablecoin withdrawal per month. Beyond that, you'll pay a fee for each withdrawal, which varies by currency.

      No custodial accounts

      Many investors are looking to cryptocurrencies to protect long-term investments against inflation. Despite the volatility of these currencies, they could be an attractive option to save for college or other savings plans for kids.

      Custodial accounts -- held in an adult's name that transfers to a child when they turn 18 -- aren't common in crypto exchanges. BlockFi doesn't offer one, but it says it plans to in the future.

      There's technically no legal age to buy or own cryptocurrencies anywhere in the world. But exchanges in most countries, including BlockFi, require users to be 18 years old or older. This makes it difficult for kids to take advantage of the potential long-term savings benefits of cryptocurrency investments.

      How BlockFi works

      BlockFi is a cryptocurrency exchange and wallet that serves individuals and businesses worldwide. It offers an interest-earning account, portfolio-backed loans, and fee-free trading.

      As with many of the best cryptocurrency exchanges, you can fund your account with USD, crypto, or stablecoins.

      BlockFi Interest Account

      This interest-bearing account holds coins you've deposited or purchased on the exchange. It works much like a traditional savings or investment account. One big difference is that money you put in a bank account would be protected up to $250,000 against bank failure through FDIC insurance. Similarly, any cash in a brokerage account would be protected by SIPC insurance. But if you put your savings into a BlockFi Interest Account, you don't have these protections.

      You're limited to one crypto withdrawal and one stablecoin withdrawal per month. After that, you'll pay a fee for each withdrawal. You can make automatic transfers to any bank account connected to Plaid, a company that allows apps to securely transfer data to and from your bank.

      You can also set up a business or corporate account. It functions the same way as an individual BlockFi Interest Account but is in the entity's name. It requires additional documentation and a longer verification process. Once you apply, a member of BlockFi's compliance team will contact you to help with the rest of the sign-up process.

      It pays these interest rates:

      • Bitcoin (up to 2.5 BTC): 6%
      • Bitcoin (more than 2.5 BTC): 3%
      • Ethereum: 5.25%
      • LINK: 5.5%
      • PAX Gold: 5%
      • Litecoin: 6.5%
      • Paxos Standard: 8.6%
      • USDt: 9.3%
      • USDC, GUSD, and BUSD: 8.6%

      Interest begins to accrue the day after you deposit and compounds monthly.

      BlockFi pays interest by lending assets to institutional and corporate borrowers with high collateral. It stores reserves -- so it can fund your withdrawals -- with New York trust company, Gemini, and other third parties.

      The BlockFi Interest Account is available to customers in most countries and in all U.S. states except New York.