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BlockFi is a new breakthrough digital assets interest and loans platform
Read 100% Free BlockFi Review by Scamorno Team
FULL REVIEW OF BlockFi
Are you looking for more information about the BlockFi platform and is it really a reliable platform to start earning interest on your crypto deposits or for taking loans? Founded in 2017 by Zac Prince and Flori Marquez, BlockFi has set out with the mission to bridge the worlds of blockchain technology and traditional finance, and so far look like they are doing a great job at it.
Today, BlockFi stands as a wealth management technology company that offers many innovative products like crypto-trading, crypto-interest accounts and USD-loans backed by crypto. Having raised $30million+ in their Series B Funding, BlockFi are the only independent lender with institutional backing from investors like Galaxy Digital, Valar Ventures, Akuna Capital, Fidelity, Coinbase Ventures and SoFi. At the time of writing, they have offices situated in New Jersey, New York, Poland and Argentina.
Can You Really Trust The BlockFi Team With Your Money?
We have to admit that the security of our deposited funds was our greatest concern, therefore we made great effort to look into the background of its founders and their security measures before even depositing a single cent.
BlockFi’s founder, Zac Prince, has held multiple leadership roles at multiple technology companies in brokerage and adtech firms. He is also a very public and visible CEO who is quite active on his social media and has been interviewed on multiple podcasts about their products and offerings.
Their management team also come from a wide variety of backgrounds in the financial and technology industries. Therefore, there was no question about their competencies when it comes to offering the services that BlockFi offers. They also maintain a very active Twitter account with updates on their products and responding to questions tweeted to them quickly.
What Are The Main Benefits And Features Of BlockFi?
- Created by reputable and highly regarded US-based investors
- Stored by Gemini which is s regulated in NYC, United States and insured wallets by AON
- No need for native-currencies use to earn higher interest rates
- Highly competitive interest rates with transparent terms
What Are The Drawbacks To BlockFi?
BlockFi comes with withdrawal fees that can add up if you plan to make frequent withdrawals. Hence, it is important to plan accordingly otherwise these fees can really add up quickly. For example, their fees are currently as follows:
Bitcoin: Up to 100 per 7-day Period with a 0.0025 BTC fee
Ethereum: Up to 5K per 7-day Period with a 0.0015 ETH fee
Litecoin: Up to 10K per 7-day Period with a 0.0025 LTC fee
Stablecoins: Up to 1M per 7-day Period with a $0.25 USD fee
Review Verdict: BlockFi is a legitimate platform that works
Consumer Fraud Alert Regarding BlockFi
The success of BlockFi has given rise to many frauds who try to sell their own fake platforms in its name. This is a big issue as many customers have lost their money in joining from such fake sites. It is advised that customers should be really careful when they are joining and should do some research before they join from any website. To spot these, watch out and avoid sites that claim to write about BlockFi, yet the write-up is completely garbage and unreadable as they are created by software and spammed all over the internet. It is always better to avoid joining from any other site other than the official one. Therefore, it is highly advised that consumers do careful research, or only join from the site from the official website here – http://BlockFi.com/Official (link opens in a new window). The official website that they have includes the legitimate platform.
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