Updated August 3rd, 2021
Now that we’re close to halfway into 2021, I thought it would be as good a time as any to look back at BlockFi’s slew of updated offerings to compare where they started off and how they stand now.
But first, let’s start here. For the last couple of years, I’ve been searching for ways to increase my passive income — stacking sats with a hands-off approach. That’s when I found out about Celsius and BlockFi.
Like many of you, I’ve traditionally held my cryptocurrencies secured in various wallets and on exchanges to execute trades (sometimes for longer than is recommended, I’ll admit). But the idea of taking my idling crypto and putting it to work has always been an attractive idea and what inspired me to do a deep dive into available platforms that might meet my needs.
All these platforms basically bring two traditional financial services to the crypto space — interest accounts and loans — disrupting the financial sector by enabling users to earn interest on their digital assets as well as borrow funds by using their cryptocurrency holdings as collateral.
Some people are curious about how BlockFi offers such attractive lending rates. The short of it is, they lend coins to hedge funds, exchanges, institutional traders, and…
