Assets, Bitcoin

Does BlockFi Own My Bitcoin?

BlockFi is a digital asset management platform that allows you to borrow against your cryptocurrency holdings, including Bitcoin. But does BlockFi own your Bitcoin?

The answer is no. BlockFi does not own your Bitcoin.

NOTE: WARNING: BlockFi does not own your Bitcoin. You are solely responsible for the security of your Bitcoin and any transactions you make with it. BlockFi is a custodial service and is not responsible for any losses resulting from the theft, misplacement, or misuse of your Bitcoin.

When you deposit Bitcoin into your BlockFi account, it is stored in a segregated cold storage wallet. This means that your Bitcoin is not commingled with BlockFi’s Bitcoin and is not subject to the same risks.

BlockFi also allows you to earn interest on your deposited cryptocurrency. This is made possible through their relationship with Genesis Capital, one of the largest institutional lenders in the digital asset space.

So, while BlockFi may not own your Bitcoin, they do have a vested interest in its safety and success. And, they offer a unique opportunity to earn interest on your digital assets.

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