here we will guide you, step-by-step, on how to sign up with BlockFi and start earning Bitcoin interest.
BlockFi gives you the opportunity to earn Bitcoin passive income when you deposit to BlockFi. In addition, you can earn passive income on Ethereum, Litecoin and Stablecoins.
In the end of the article we will give you some alternatives to BlockFi so you can diversify your crypto investments.
Why should I use BlockFi?
There are three reasons why you should use BlockFi to earn Bitcoin or crypto passive income.
- Don´t hold your crypto asset on an exchange where you get 0% in return
- BlockFi has a strong team and has a good reputation
- BlockFi securely store your assets
BlockFi Referral Code and Sign Up Bonus 2020
We have a specil Blockfi referral code and sign up bonus.
This offer is only eligible via our link and only if this is your first deposit to BlockFi.
Use our orange button for full terms and conditions for the sign up bonus.
Step 1: Sign Up for BlockFi
First step is to Sign up with BlockFi.
Use our link below and you will be asked for
- Legal First Name
- Legal Last Name
- Create a Password
Step 2: How to Deposit to BlockFi
Once you have sign up with BlockFi you need to deposit cryptocurrencies into your BlockFi account.
There is no possibility to deposit fiat to buy Bitcoin or any other crypto on BlockFi.
- Login in to your account and click Deposit in the header menu.
- After this, you select what currency you want to deposit as seen in the screenshot below.
- Once you have selected the currency you want to deposit you will get you wallet address.
- Now you need to go to your Bitcoin wallet or Bitcoin exchange and withdraw your cryptocurrencies and deposit to BlockFi. You do this by adding the the address in that withdrawal field.
Step 3: How to Handle Payouts for BlockFi
Now, you have signed up with BlockFi and created an account. In addition, you have added a balance to your account.
Now, you will receive interest payments once every month.
There is one setting you want to consider regarding your payouts.
BlockFi gives you the option to receive all payouts in one selected currency, or you get your payouts in the deposited currency.
If you deposit Ethereum to BlockFi you can get the payouts in Ethereum or any other supported cryptocurrency on BlockFi.
As you can see in the screenshot below, you handle this setting by clicking on your username in the top right corner. Select profile setting and go for interest in the left column.
BlockFi VS Celsius Network
BlockFi and Celsius are very similar and they offer almost the same products.
However, there are some differences you should be aware of.
We are using both platforms and there are two reasons for this.
- We want to diversify our crypto holdings to minimize risk exposure for 1 platform.
- We have the option to transfer easily between the platforms to always get the best interest rate. Both Celsius and Blockfi changes the interest rates from time to time. Sometimes the Bitcoin interest rate is better on BlockFi and sometimes its better on Celsius.