Assets, Ethereum

Can I Buy Ethereum on BlockFi?

As of September 2019, BlockFi is one of the few platforms that allows you to buy Ethereum with USD. That said, BlockFi is a cryptocurrency-backed loan and deposit platform and not a traditional exchange. As such, you don’t buy Ethereum directly from BlockFi. Instead, you use BlockFi to borrow USD using your Ethereum as collateral.

You can then use that USD to buy Ethereum on a traditional exchange like Coinbase. BlockFi currently offers the following loan-to-value (LTV) ratios: 50% LTV for stablecoins including USDC and GUSD, 40% LTV for BTC and ETH, and 35% LTV for LTC.

At current prices, this means you can borrow up to $50,000 worth of USD using 5 ETH as collateral. The interest rate on your loan will depend on the LTV ratio. For example, the interest rate for a 50% LTV loan is 8.6% per year while the interest rate for a 35% LTV loan is 11.

2% per year. BlockFi also charges a monthly servicing fee of 0.25%.

So yes, you can buy Ethereum with USD on BlockFi but it’s not as simple as buying it on a traditional exchange like Coinbase. You’ll first need to take out a loan in USD using your Ethereum as collateral. The interest rate on your loan will depend on the LTV ratio but will be between 8.6% and 11.

2%. In addition to the interest rate, you’ll also need to pay a monthly servicing fee of 0.

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