Ethereum (also known as Ether or ETH) is the second largest cryptocurrency on the market. The Ethereum network has also created countless tokens that live on its blockchain. Whether you consider these utility tokens or stores of value, the crypto ecosystem requires real-world use-cases to continue growing.
By offering services that people understand from the traditional financial system, BlockFi is making it easier for people interested in using their Ether to finance their personal or business projects without having to sell.
Reasons to Take an Ether Loan
Why might someone use their Ether towards a crypto-to-USD loan? For many BlockFi clients, the main reason is that they have a need for funding but don’t want to sell their crypto to reach those goals. This allows them to keep ownership of their Ether while still being able to finance projects like buying a home,investing in a business, or paying down high-cost debt. Click here to learn more about how you can use a BlockFi loan.
Another major reason someone might become a BlockFi clients is for limiting their tax exposure. One of the biggest benefits is that the interest paid on a loan can be written off on your taxes. Additionally, a BlockFi loan does not trigger any taxable events, saving you from any potentially expensive capital gains fees. With that said, everyone’s financial situation is different and you should consult with a tax professional before making financial decisions. Click here to read more about the tax benefits of taking out a BlockFi loan.
How does a BlockFi Ether loan work?
Applying for a BlockFi loan takes less than two minutes. Once received, our team will review your application and send you a decision within hours. If you’re accepted you’ll be prompted to send over your collateral. Once received, we will wire your USD directly into your bankaccount.
For many clients, you can go from application to funding in as few as 90 minutes. BlockFi makes it easier than ever to get an ether backed loan, with coverage in over 45 U.S. states and interest rates starting at 8%. This makes us the largest, fastest, and most affordable crypto backed lender in the U.S.Use your crypto without selling. Apply for a BlockFi loan today.