As of now, BlockFi pays interest in Bitcoin on deposits of at least 0.5 BTC. The interest is paid out monthly in Bitcoin, and the amount of interest paid depends on the amount of Bitcoin deposited as well as the length of time it is held in the account. For example, a deposit of 1 BTC held for one month would earn 0.
05% interest (0.00001 BTC), while a deposit of 1 BTC held for two months would earn 0.1% interest (0.00002 BTC).
The interest rate paid on Bitcoin deposits is also variable and depends on market conditions. When BlockFi first launched, the interest rate was 6% per year (paid out monthly).
NOTE: WARNING: BlockFi does not currently pay interest in Bitcoin. They may offer accounts that allow customers to earn interest on Bitcoin in the future, but as of now, no such option is available. Before investing any funds into a BlockFi account, please carefully read all terms and conditions provided by the company.
However, due to increased demand for Bitcoin deposits, BlockFi has since lowered the interest rate to 4% per year.
Despite the lower interest rate, BlockFi still offers one of the most competitive rates for Bitcoin deposits when compared to other similar services. For example, Coinbase only offers a 1.
5% annual return on USD deposits, while Xapo offers a 2% annual return on EUR and GBP deposits.
In conclusion, BlockFi does pay interest on Bitcoin deposits, though the amount of interest paid may vary depending on the amount deposited and length of time held in the account. The current interest rate is 4% per year (paid out monthly), though this rate is subject to change depending on market conditions.
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