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Earning 6% interest with Blockfi

I'm always trying new products. This past holiday season I saw my friend Spencer Yang from CoinMarketCap post about earning interest on your cryptocurrency. So naturally, I clicked on it to check it out.

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To my surprise, you could earn up to 6.20% interest on your crypto! This is huge compared to the current US rate of 1.50–1.75%.

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So I tried out the top 4 exchanges. Bittrue,, celcius and blockfi. Bittrue and are very misleading, you need to buy their special tokens to get interest. Plus doesn't support Hong Kong. So that leaves me with Blockfi vs Celcius.

So I moved my crypto into Blockfi and waited. It was really simple, the interface is friendly and all I needed to do was move my assets into it. Then at the end of the month, I got a report for the interest earned. I asked customer support and the interest earned is base on pro-rata.

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If you check Blockfi's table, they pay 6.2% up to 10 BTC. Since I had more ETH than BTC, I love their free exchange feature. I converted my ETH into BTC instantly for free.

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Things I like about Blockfi:

  • Beautiful and minimalist interface.
  • No tricks. Just deposit your crypto. No need for staking.
  • Free BTC to ETH exchange.

Things I don't like about Blockfi:

  • Super slow withdrawal and withdrawal limit. Takes up to 3-4 days to withdraw your crypto.
  • Not super secure and no insurance for your money. Be prepared to lose everything. 
  • Do not withdraw to an exchange. You will lose your crypto because it's transferred through a smart contract.


Look, Blockfi's withdrawal limit and long withdrawal time is very concerning. If they close down, you might lose all your money. But I consider crypto as a high risk investment and at 6.2%, it's a risk I'm willing to take. The interface is beautiful and for the amount of work, I think it's worth it.


If you liked this post and want to open an account, hook a brother up and use this referral link for some sweet bonus.