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Introducing Interest Payment Flex | Diversify Your Cryptocurrency Portfolio

Published, 5 September, 2019

We are excited to announce the addition of a new feature to the BlockFi Interest Account (BIA) – Interest Payment Flex. Clients holding BTC, ETH or GUSD in their BIA can select to have their compound interest paid out in one of the offered currencies. For example, if you have BTC or ETH in your interest account, you can choose to receive all your interest in GUSD, ETH or BTC, or if you are holding only GUSD, you can choose to receive all your interest in BTC, ETH or GUSD. This is a great way to diversify your cryptocurrency portfolio without having to buy any new crypto.

Starting now, you can enable this feature by navigating to the Settings page of your account and visiting the “Interest” tab. There, you’ll be able to choose how your interest is paid. This new feature is completely optional. If you choose to take no action, you will continue to receive interest in the asset(s) deposited in your account.

At the end of the month, all interest will show as one payment in the ledger below your crypto balances on the BlockFi Interest Account Dashboard. You can change your preferred interest payment type up to 48 hours before month end. Please see our Terms of Service for full details about our BlockFi Interest Account product.

We believe that Interest Payment Flex will bring added value to our clients and we are excited to receive feedback about this new feature.Here are a couple of reasons we think current BlockFi clients will love Flex:

Turn your crypto into a passive USD-based income stream

Generating extra cash each month is a powerful utility to have and is particularly relevant for clients looking to maintain their current level of crypto exposure (instead of increasing or decreasing their exposure). For example, this objective would be achieved by holding BTC in a BIA and electing to earn interest in GUSD.

Use stablecoins to create a dollar cost averaged exposure to crypto

If you don’t want to invest material equity directly into crypto, you could hold stablecoins in a BIA but elect to earn interest in crypto. This use case would steadily acquire crypto over time – effectively dollar cost averaging in to exposure. Holding GUSD in a BIA and electing to earn interest in BTC or ETH would achieve this objective.

Diversify your crypto portfolio at no additional cost

Clients that already own crypto can gain exposure to other cryptocurrencies without having to purchase any new amounts. For example, a BTC holder could begin to accumulate ETH without having to commit any new capital.

As always, if you have any questions or comments you can reach out to our support team through our contact us page or submit feedback here.

– The BlockFi Team

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Rates for BlockFi products are subject to change. Digital currency is not legal tender, is not backed by the government, and BIA accounts are not subject to FDIC or SIPC protections. Crypto assets are deposited into an account with Gemini or BitGo, our primary custodians and licensed depository trusts. For more information, please see BlockFi’s Terms of Service__.

Last updated on August 9th, 2022

As of February 14, 2022, the BlockFi Interest Account (BIA) is no longer available to new clients who are US persons or persons located in the US and existing US clients with BIA accounts are unable to transfer new assets to their BIAs. Learn More.

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Digital currency is not legal tender, is not backed by the government, and crypto accounts held with BlockFi are not subject to FDIC or SIPC protections. Digital currency values are not static and fluctuate due to market changes. Not all products and services are available in all geographic areas and are subject to applicable terms and conditions. Eligibility for particular products and services is subject to final determination by BlockFi. Rates for BlockFi products are subject to change.

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BlockFi International Ltd. holds a Class F digital assets business license under the Digital Assets Business Act, 2018 (as amended) and is licensed by the Bermuda Monetary Authority to conduct the following digital assets business activities: (i) issuing, selling or redeeming virtual coins, tokens or any other form of digital assets (ii) operating as a digital asset exchange (iii) providing custodial wallet services (iv) operating as a digital asset derivative exchange provider and (v) operating as a digital assets services vendor.

See blockfi.com/terms for more information.