- Brutally Honest BlockFi Review — 6 Months Later
- Blockfi Review | Blockfi Review 2022 | Blockfi Tutorial
- BLOCKFI REVIEW AFTER 4 MONTHS OF EARNING INTEREST! HOW BLOCKFI IS ABLE TO PAY US INTEREST!
- How to Use BlockFi for Beginners (Earn Crypto Passive Income on BlockFi)
- BlockFi Review: My Brutally Honest Opinion About BlockFi ????
- How Much My $10,000 Investment In BlockFi Makes Me In Passive Income Every Day
- BlockFi Review Blockfi Review 2022
Brutally Honest BlockFi Review — 6 Months Later
about six months ago i was the first,person in the world to get this credit,card this is the block five bitcoin card,it is the unlimited bitcoin back on all,purchases card and i thought it might be,my new everything else card,six months later its not but not for,the reason you might think,hey there dave here im going to tell,you how i actually am using this car the,pros and the cons of how this card works,some of the changes that theyve made,since i got this card and bottom line,would i recommend this card lets start,with a recap of how this card works it,is unlimited 1.5 back in bitcoin which,1.5,is not the best rate for credit cards,but with bitcoin prices doing what they,do it actually could end up being way,better than any of my other cash back,cards so its sort of a gamble on,bitcoin it has two percent back after,you spend fifty thousand dollars,annually that is two percent on the,amount over fifty thousand dollars and,that resets annually you earn three,point five percent back during your,first three months on up to five,thousand dollars of spend i did my best,to take advantage of that but i ended up,not actually hitting the full five,thousand dollars uh you also earn four,point five percent interest on your,bitcoin and up to nine and a half,percent right now on stable coin there,are no annual fees no foreign,transaction fees you can get,pre-approved for this card with no,impact to your credit if you do try this,card please do use my referral link its,down in the description theres some,other block fight benefits for card,holders you can get point two five,percent back when you buy crypto on,block fi thats up to five hundred,dollars per month they used to have a,two percent boost in the apy for stable,coins for people with the block fight,card and actually if you applied for the,card before december 1st youll continue,to get that two percent for a full,calendar year from when you get the card,but they got rid of the two percent,boost and thats not the only change but,the other changes i think are all good,they raised the interest rates on stable,coins it was in the five to seven and a,half percent range and now its nine,percent for all of them and nine point,five percent for tether and thats for,everyone not just card holders which is,a really good rate for stablecoin,especially since its just a simple,interest account you dont have to stake,coins for any set amount of time you can,move them swap them you can cash them,out,of course i wouldnt recommend cashing,them out unless youre just really into,paying taxes but if you already do have,the card you can double dip with that,two percent boost so nine and a half,becomes eleven and a half percent and,that two percent is capped at an extra,two hundred dollars per month so two,percent on up to ten thousand dollars of,your stable coin the other big change to,this card it is no longer just the,bitcoin card you can actually earn in,your choice of any crypto on block five,youll learn the same 1.5 percent,whether its ether or litecoin or basic,attention token or uniswap or any of,these coins or you can choose one of,these stable coins if you dont want to,gamble on crypto but i wouldnt do that,because you can earn more than 1.5 back,on a bunch of other cards i think the,only reason to have this card is for the,possibility of a long-term huge upside,without any extra effort and one thing i,know the us dollar never keeps up with,inflation,by definition so pick which coin you,want to earn in you can change that up,to midnight on the last day of the month,so if you like to buy the dip you can,pick whatever was down for the month i,used this card fairly regularly actually,almost exclusively for the first three,months to get the 3.5 intro bonus i did,the math to figure out what my effective,earn rate would be if i were to cash out,of bitcoin today and that would have,been 3.85,cash back so very respectable especially,for an everything else card a little,more math at bitcoins all-time high the,effective rate would have been 5.18 at,the 52-week low 1.94,and when bitcoin eventually hits 100 000,i will have earned a whopping,7.51 some other things to know about the,card blockfy integrates with mint but,not with truebill or any of the others,that use plaid they have a really good,website an app interface autopay is easy,you can review purchases and rewards in,the app and on the website the pdf,statements actually do not show your,rewards because rewards are accumulated,based on the calendar month and rewarded,on the second friday for the prior month,which is a little confusing if youre,used to seeing rewards on your statement,especially if youre making a youtube,video about it and wanted to calculate,the value of your rewards but its,really not bad at all you still earn,bitcoin with every purchase bitcoin gets,deposited every month it just makes it a,little more challenging to make a video,about it i actually consider this my fun,credit card for rewards its not my,primary cash back card because my other,cards can earn two to five or even more,back on every purchase if you think,about it even averaging three percent,using other cards you would get double,what this card gives you back and of,course im all about simplifying things,the block fight card does make it super,easy to rack up free bitcoin but if you,really wanted to maximize your bitcoin,heres what i do use a different card or,my two to three card system to earn at a,higher rate and then i think its too,much hassle to actually cash in all,those cards every month to buy bitcoin,but if you were to just estimate your,monthly cashback based on your annual,spending and then set up an automatic,repeat trade using blockfy and their,automatic trade feature youd actually,be buying more bitcoin than you would,earn with this card and youd still be,dollar cost averaging on all your,purchases and youd be automatically,earning interest on all your crypto so,it might sound like im not recommending,this card but thats just for me and,other credit card nerds like me who are,really into maximizing the rewards if,youre more of a normal person yes i,actually do think that the block fight,card is a great fun way to play with,crypto for free with your credit card,cash back this card really does check,all the boxes for me no annual fee no,foreign transaction fee no cap on your,bitcoin earnings theres a bonus if you,spend more theres no rotating,categories to keep track of you can set,it and forget it and id imagine that,bitcoin is going to outperform the,dollar but let me know what you think,let me know if you have this card if,youre going to get this card if you,used my referral link use the comments,this card does have me kind of,rethinking my whole credit card strategy,and the whole idea of crypto instead of,cash im gonna be making some big,changes to my credit card strategy next,year so if you want to see what i end up,doing,subscribe,that is it that is the latest wait,before you go i do have two quick things,first the blockfy referral link will,give you up to 250,of free bitcoin so make sure you use,that also im still working on the,cashing in all of my credit card points,from last year and i will post that here,as soon as it is done so stay tuned,subscribe that really is the latest room,here im dave hansen ill see you back,there for the next hey there dave here
Blockfi Review | Blockfi Review 2022 | Blockfi Tutorial
hello guys and welcome to top crypto in todays video were going to take a look at block 5 which ,is a fantastic platform that allows you to earn a passive income from your crypto as well as ,being able to take crypto loans and much much more obviously nothing i say on this video is financial ,advice so always go away and do your own research before investing any of your own money without ,further ado lets jump into todays video okay guys so jumping over to the block five website ,which is a link down below in the description as always you can see that block fight is all about ,buying selling and earning a cryptocurrency the blockchain rewards credit card lets you earn up ,to 3.5 back in crypto on every single purchase and you can see that credit card over here the ,black card here and as well we can look into all the different products and things that they have ,available guys so far in terms of crypto rewards paid on the credit card theyve given over 15 ,million dollars in crypto which is something that is pretty impressive because the credit card has ,not been around that long and platforms like this are really gonna bring crypto into the forefront ,as far as im concerned because lots more people will have access to it and its giving more ,real world utility to people in crypto now all you need to do guys sign up for block five then ,you can click on get your card and youll have to qualify for it obviously different countries it ,may be more difficult but if youre in the us uk et cetera should be able to go and apply for one ,of these if you look down below theres lots of different other features like low-cost trading for ,leading cryptos so for example if youre holding bitcoin but you think ethereums gonna go up you ,can transfer across to ethereum at a really low fee cost and every month you are also allowed ,to have one a free withdrawal from the platform which is obviously pretty cool because now then ,platforms that have low fees for transferring etc might have high transfer fees when youre trying ,to exit or take money out of a platform so to have that each month is something really worthwhile as ,well as that if youre a high net worth individual and youre looking to put large sums of money onto ,the platform theres also benefits there where you can kind of call them up and negotiate perhaps ,interest rates that are going to be available for you obviously theres not so much information ,available on that right now because you have to call them up in order to get that done but whats ,really cool is being able to borrow money at rates as low as 4.5 apr if you like me have a lot of ,money in crypto and want to be able to access that money right now perhaps its not the best time ,because crypto is obviously down so im paying like a hundred dollars for something its more ,like im paying like 200 300 in my mind because at the moment im expecting crypto to be going up ,significantly this year so i dont really want to be touching that money however i can then ,take a loan against the crypto that i hold in the platform and use that money from the loan ,to go and buy whatever i need maybe emergencies whatever and then that kind of stops me having to ,invest or take money out of my crypto but as well as that i can then if im confident enough in the ,crypto market take money backed by my crypto and reinvest it into that crypto now obviously thats ,a fairly high risk strategy guys because the crypto value goes down and youve invested against ,your existing crypto youre going to have a lot more to pay back and your existing crypto is not ,going to be worth so much so be very careful about doing that now one of the things i like most about ,blockfire and one of the reasons i tried to get my friends to go and join blockfy is because its a ,very easy platform to use it has a similar kind of interface to coinbase but lacks all the expensive ,fees as well as that all the extensive rewards and apys that you can earn makes it a very special ,platform im sure youve probably already heard of block fight its a big blue chip company and ,that makes it much more secure than perhaps other platforms its kyc or know your customer which ,means that you have to put in your information etc and thats always a good thing in my opinion ,because it adds extra levels of security and its a company thats already backed by other huge ,names weve already mentioned coinbase weve also got galaxy digital which is one of the largest ,platforms of its kind within crypto and the winklevoss capital winklevoss twins were ,the guys who famously sued at mark zuckerberg for their early involvement in facebook and not really ,getting much back in return they then got their money back from the hearing trial something like ,16 million dollars back in 2012 or something like that and they dumped a load of it into crypto and ,obviously since then bitcoins absolutely flown so theyve amassed quite a fortune in crypto and ,themselves have done a huge amount of research and hold a lot of expertise in the crypto market so ,being backed by companies and people like this show that this is a very substantial ,and impressive platform to be looking at in terms of place to put your money now they offer a few ,different products one of the ones i use is the block 5 wallet which is buy sell and store crypto ,and stable coins one of the coolest things if you dont like the volatility of things like bitcoin ,and ethereum you can use things like us dollar tether tethered to the value of the us dollar ,and earn a huge percentage apys sometimes up to eight nine percent obviously that number ,can fluctuate but the best part about that guys is youre earning eight percent on a us dollar ,which if youve ever been to the bank and youve tried to put in us dollars gbp whatever youre ,never going to get anywhere near eight percent and actually eight percent year on year compounding ,is gonna make a huge amount of difference each month your interest is paid in so youre gonna ,get compounded interest on that as well theres no minimum balance so you could start with as ,little as like one dollar one pound theres not gonna be any hidden fees and obviously ,is safeguarded and guaranteed to be kept safe if you want to change from bitcoin to ethereum etc ,it takes very little time because they obviously hold all their crypto so its pretty much instant ,in terms of those transfers so you wont miss out on the huge moves that can be building in crypto ,and suddenly explode at any moment theres two-factor authentication obviously using ,the google two-factor authentication app on your phone which adds another level of security and ,safeguards your crypto and whats nice is you can keep all of your crypto in one place you can also ,schedule to buy perhaps every month so say you get paid on the first of the month you can schedule ,a payment to go into the platform each month and buy whatever crypto it is that you are interested ,in holding as you can see theres a lot of different cryptos available were going to ,take more information about that now theyve also introduced simplified tax reporting so depending ,on your country that you live in sometimes it can be a bit of a hassle with regards to declaring ,your tax but block 5 makes that all very easy for you as well as that they have world-class ,customer support always available to answer your questions and help out with any problems ,no matter how big your account size is now the wallet itself is not where youre going to earn ,your annual percentage yield but youre going to have to move that across to somewhere else but ,by having it in the wallet thats basically if i wanted to send some money there from like another ,platform like binance or from a credit card or debit card no matter where i am in the world ,then i would send
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BLOCKFI REVIEW AFTER 4 MONTHS OF EARNING INTEREST! HOW BLOCKFI IS ABLE TO PAY US INTEREST!
welcome back everyone mariah here in,todays video im gonna be giving a four,month review on block five im going to,be telling you guys when i got into,block five,how much ive put into block five over,time how much ive taken out over time,im gonna be giving you the breakdown of,exactly how much money i have made,since being a user of block by im also,going to be going over,exactly how block find makes their money,so i recently listened to an interview,the interview was actually done back in,february with one of the team members of,blockfy and he went into detail,basically,explaining exactly the process of how,blockfy makes money,and so i have been able to better,understand it and im going to be,discussing that,with you guys today and also talking,about my strategy going forward,im going to be revealing what number i,am on the list when it comes to getting,that credit card so if anyone wants an,update from yesterday i have no idea if,the lizard escaped my house so i,literally,have one foot on a garbage can right now,and the other one tucked under my leg,because i dont want,the lizard on me so lets get into the,meat and potatoes of whats going on,so i got this email from blockfy came in,i think yesterday,and basically theyre just going over,like all of the updates of whats going,on and so,if youre part of block fi youve gotten,this email basically,and theyre talking about how you can,now get 10,as a special offer between now and uh,july,31st um so youre gonna be earning an,extra one point four four percent on,stable coins,but you dont get paid that until like,you dont get that additional one point,four percent until i believe mid august,so thats something to take into,consideration,but it is a good time to have stable,coins on,the block fi uh platform obviously,we know about um their interest changes,that are going into effect,starting today may 1st um so this is the,thing that a lot of people are asking,about,so i have been seeing some people in the,comments and this is like a big question,for people,so basically people think that you earn,five percent on the first point five,and then anything above that youre,earning two percent on,i dont think thats the case okay if,you have,0.6 i believe that youre earning it 2,so basically lets see less than,zero five to twenty so yeah basically,its saying,so yeah less than point point five to,twenty youre earning two percent,i am pretty sure that it if you,you are not earning five percent on the,point on the first point five if youre,holding more than point five,i could be completely wrong at first,thats what i thought it was,like for example on celsius you earn,whats it six point two on the first two,and then like,three point something on anything above,that i dont,think thats the case with block fi um,so,thats like my take on it um i had,less than one bitcoin so you can see,here last month so im not able to take,the actual calculation,because i earned a complete um six,percent apy,on my one bitcoin that i had in block,five,last month so this email also basically,goes over new members to the block fight,team,and there are two um,interviews that you can listen to,basically if you just like type in,um on the brink and then renee so this,is from,uh a february interview where he goes in,detail over how blockfy makes money,and how that whole process works he,talks about the risks involved and all,of that,and then theres also a second interview,that was done with another block 5,member,zach prince and theyre like 30 minutes,so theyre you know you could get,through them pretty quickly,also on the brink um and so if you just,type that in on your,however you listen to podcasts and you,can listen to those too and i havent,been able to listen to this one with,zach but i listened to the,previous one with renee and i really,enjoyed it and it brought a lot of,clarity im going to be kind of going,over exactly what renee,said in that podcast and then also to,uh block fight announcing here a,partnership with arcane and so what,arcane basically does,is they do a lot of research when it,comes to like,funds you know where funds are in the,crypto space like basically like user,activity,from like probably retail side and,institutional side,um so block fine arcane research will,jointly produce bi-weekly reports,tracking institutional investments,and related developments in digital,assets each report available exclusively,to block five clients,will include general market updates,research and commentary on digital asset,prices,trading volumes investment trends,shifting sentiment and valuation so,thats definitely valuable there they,give you a reminder make sure to set up,two-factor authentication on your block,by account,to maximize your security um,and then basically also they talk a,little bit here about if you are a,business and how you can use block fi,to grow your business and then also too,they rebuilt their app which is going to,be coming out soon so make sure you have,your app,updated um so that you can have access,to the app as soon,as all of the updates become available,so you can see here that i have a pretty,good,chunk in my block by account,approximately 293 000,um and you could also see here that,um this is the total collateral that i,have,up right now hundred and ninety six,thousand,and you can see that ive taken out a,loan here took out a loan for sixty one,thousand dollars i made my first payment,was about,483 dollars and basically i put it on,automatic withdrawal from my bank,account,there really wasnt an option to pay for,the loan through,um cryptocurrency unlike nexo so that,was kind of like,you know something that i really wasnt,super excited about because i wanted to,use crypto to pay for my loan,but instead i just set up automatic um,withdrawal from my bank you can see here,that i have been paid,four thousand and ninety one dollars of,interest since i,opened up my block fi account you can,see here that i made,my first transaction on block fi on,january 19th and i put in,uh 0.1 of a bitcoin and that was you,know just to kind of test the water see,how it goes make sure the address works,correctly you know i just always take a,little bit of a nibble,and then i continuously add you can see,here on january 26 i added 50 ethereum,ethereum had basically one of the best,rates on block fight at the time,so thats why i went really heavy on,ethereum initially,and then you could also see here that i,made um,a pretty decent trade i took two,ethereum here and trade it for,51 bitcoin and so let me do a quick,uh calculation right here to see exactly,um lets see so i my first transaction,was 51.46,ethereum times that by is currently at,about 28.50,um and then you could see here like,divide by,two because i used two bitcoin so,technically like look how much i have,gained,um of bitcoin so that would be like a,like i would basically,only have been break even with that,trade if bitcoin was trading right now,at 73,000 so that was like a really strong,trade a long-term trade,that ive made um eventually i would,like to take that aetherium and probably,um sometime towards the end of the bull,market um,trade it back into bitcoin or thats,going to be one approach im going to,take a portion of it trade it back into,bitcoin because i always want to stack,satoshis,my second approach is is selling some,holding it in usdc,and then earning interest on these,platforms as well,you can see here i got my first interest,payment at the end of january so i,earned,.04 of ethereum so basically they pay,you the last date of the month,which means that like your interest,isnt compounding daily like nexo,its technically compounding more like a,monthly rate,so with my ethereum i ended up buying,obvious,excuses with my bitcoin i started buying,it more ethereum,um which turned out to be a really good,trade you can see here that i have,withdrawn it,just very small amount 2.65 ethereum on,march 19th,you can see here that um i put up 68.59,of ethereum as collatera
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How to Use BlockFi for Beginners (Earn Crypto Passive Income on BlockFi)
hey guys james here in this one ill be,going over all of the features of,blockfire and how to use them,including lending for passive income,loans,buying crypto and transferring crypto in,and out of blockfi,plus well look at the blockfy interest,account rates versus the competition,and some of the things you should,consider if you do want to go ahead and,use block fi,ill leave my link to block fight in the,description if you do want to sign up,for an account,block fire run a sign up promotion where,you can get up to,around 250 of crypto depending on your,initial deposit so check that out in the,link below,if you think block fire is for you so,block fire say that they are a modern,financial services company obviously,to do with cryptocurrency and they have,two main products,they have an interest account and then,they have loans most people i guess will,be looking at their interest account so,if you have cryptocurrency that you want,to hold for a long time you can actually,earn interest for holding it with them,so its like holding,money in a bank and they pay you,interest that is what blockfire will be,doing,and they will be lending out your assets,to other traders and institutions,getting a yield for that and passing,that on to you,block fire is actually an american,company but they do offer their products,and service,in a lot of countries worldwide and they,have some big backers so this is an,above,board type of firm it is a centralized,firm,it is a company and its registered in,the states its not a decentralized,blockchain based project so you can see,coinbase ventures and also winklevoss,capital,in there as well obviously big names in,the crypto space but because blockfire,is a registered company,they actually do require kyc so lets go,and sign up you can actually just click,on get started right here and it will,take you through,you do need your id documents you need,your kyc,so thats going to be your id in the,form of a passport or a driving license,and youll need to make sure that your,details are the same that is on the bank,transferring funds in if you want to,transfer fiat currency in,in the form of usd or other fiat,currencies youre gonna have to make,sure that your id,on block fire and your id and details at,your bank are exactly the same when you,go through the sign up process,once you have signed in you can get to,all your products at the top youll have,your dashboard,then youll have your accounts your,interest account is where youll be,earning,and then you can go through and deposit,and withdraw funds in and out of block,file,and if you want to use blockfire to,actually add cryptocurrencies you want,to buy with fiat currency and you want,to trade in,and buy some cryptos in the app you can,actually do that on here as well,once you have signed in though this will,be your dashboard and the first thing i,want to do is come to the security,settings,so were going to click on the options,and then come down to profile settings,you can change various details in here,but im going to come first to security,then im going to come down to 2fa i,would suggest using this,we can click through and press enable to,fa now what this is going to do,is put another step between a hacker and,your account so,youre gonna have to download google,authenticator so go to your app store,and download that app,then in that app all you have to do is,add a new account,scan the qr code on your phone and then,it will set up to fa,each time you log into your block file,youll have to have your phone with you,with that application,and then scan that qr code to get into,block file it can be a hassle sometimes,but it does increase security,the next security option is wallet,addresses,most crypto exchanges will have an,option like this its sometimes called,white list addresses in block file its,called allow listing,this is where you can add a bunch of,addresses that are white listed,so if you have other exchange accounts,or other places where you send your,crypto,they will have addresses of course and,you can add those addresses right here,these will be on your white list,addresses so you can put a name,for the account that you have the,currency and then the wallet address,and then that will be a whitelist,address if someone hacks into your,account,they will only be able to send crypto to,whitelisted or allow listed addresses,in order to change those addresses you,have to go back into a login,and use the 2fa so its just another way,to increase security in your account if,someone does hack in,were going to come into depositing some,funds into blockfire then so lets come,up to trade,and this is a very simple process of,choosing,which currency that you want to buy and,which currency that you want to sell,of course you do have to have some form,of currency in here to actually fund a,buy and well get to depositing in a,second,but all you have to do is choose the,currency that you want to buy so in this,case bitcoin,we can then choose how much we want to,buy so we just click here maybe you want,to buy 50,worth and then youll have to choose the,currency that you want to sell if you do,have some other cryptocurrencies on,account,you can do that here and if you do want,to buy with a fiat currency then well,go through that deposit process,and it will actually put your fiat,currency into a us dollar stable coin,and thats what youll use to go through,and buy another crypto so you can go,through and use usdt to buy something,like bitcoin or ethereum or,any of the other cryptocurrencies that,are supported on blockfy,once youve chosen those two you can,look at the trade and how much youll,get simply just go through and press buy,and then it will go through and do that,for you exactly the same for sell just,choose the cryptocurrency that youre,selling right here,the amount that you want to sell and,then the cryptocurrency that you,actually want to sell,into and its a very simple convert,feature now the downside,of most of these convert features is you,dont know the price that youre getting,and its usually not the very best deal,youre probably trading a little bit,away from the actual market but thats,very usual with a simple,convert trade feature like this so this,will be the same no matter what exchange,that youre using,what i do like about blockfire is the,repeat trade feature so you can actually,set up recurring purchases,this is a way to dollar cost average,into a cryptocurrency lets say you want,to put in 100,every week or on the first of every,month you can just set that up and then,that will just repeat trade for you so,you can press confirm,make sure you have funds in there and,then every so often it will actually,just,enter into that trade for you so you can,dollar cost average,and get an average price depending on,the price each time that trade takes,place,to actually get some funds on account,though we will need to go through and,deposit so we can come,up to deposit right here and the first,option that its going to give you is,usd and it says as a stable coin in,brackets this is the way that you will,put a fiat currency onto your account so,if we just click that,and youll have to wire in some cash as,you can see usd payment represents the,purchase of,a stable coin now in this case theyre,actually going to give you gemini usd,doesnt really matter too much if youre,actually trading that into bitcoin or,ethereum it doesnt really matter,which stable coin that youre using but,we know that block fire is backed by,winklevoss capital and that is the,stable coin that they use,if you want to actually transfer in via,a wire this is the information,but you actually have the wire deposit,info down here at the bottom this is,blockflys bank so it gives you their,name their address,their account number their swift code,gonna have to have all of that,information when you actually transfer,in some funds,if you have some cryptocurrencies in,other exchange accounts already we can,actually go through,and d
BlockFi Review: My Brutally Honest Opinion About BlockFi ????
is log5 too good to be true the answer,yes,but only in the way that the entire,western banking paradigm of constant,exponential growth is too good to be,true these eight percent yields may seem,unsustainable,but theyll be sustained until the,proletariat rise up sees the means of,production and eat the rich lucky for,you the left is too busy fighting,amongst themselves to organize and,overthrow the system that is offering,you these preposterous gains,today were talking about blockbuy click,the link in the description to get you a,part of that insane growth,oh god im the capitalism,founded in 2017 blockfi is backed by a,whos who of crypto hedge funds and,traditional financial institutions,including velar ventures,sofi morgan creek and winklevoss capital,yes,those winklevosses raising almost 19,million in their series a and over 30,million in their series b,which they used to purchase a 5 stake in,the grayscale bitcoin trust from,inception,they sent out to be the bankiest crypto,bank to ever bank and by god they did it,from derivatives and collateralized,loans to dangerously rehypothecating,your collateral,theres nothing they wont do to chase,that sweet sweet yield that keeps your,crypto parked in their wallets,thats not to say that they are in any,way breaking the law in fact just the,opposite they pride themselves on,working with u.s regulators and,prioritizing sec dictums at every turn,this makes sense given their proximity,to those zany winklevoss twins and,by extension the gemini trust what i am,saying is that they engage in the same,risky behaviors that all traditional,investment banks do,thats how you get yields like you see,here this is not however unique to,blockfy,basically every service you see,advertising interest-bearing accounts,for your crypto from,coinbase to binance to celsius and,crypto.com,are engaging in some form of secondary,lending to generate revenue,a portion of which they pass on to you,this is the basic principle behind,all banks deposit your funds they lend,it back out,and your balance generates interest this,is also the same basic setup of any,ponzi scheme,thats neither here nor there now i,dont like custodial wallet systems,or risky yield farming strategies that,expose the entire user base to the,central counterparty risk of a liquidity,crisis,but you could argue that its the exact,same thing as having fidelity manage,your 401k,and it is the only difference is that,there is no d5 alternative for the stock,market like there is for crypto,block fi offers anywhere from 4.5 to 11,apy on their crypto interest accounts,which is pretty good,these rates will change depending on,demand so the numbers im showing you,may not be accurate even a few days,after i put out this video,and look even though i dont really like,the concept there are reasons to use it,even for me first and most obviously,getting a crypto loan,you can use your cryptocurrency as,collateral for a dollar denoted loan so,that if you need liquid capital you can,avoid the taxable event,of selling your coins in fact the,interest on the loan will be a write-off,on your taxes,second and basically the only reason im,using block fi is the visa credit card,that offers 1.5,cash back in bitcoin i honestly cannot,wait to get my hands on it,not only will it help your credit score,if youre smart about using it,but you can also schedule your big,purchases and subscriptions to go,through that card and start stacking,bitcoin that way,which is undeniably a cool feature even,if it only exists to perpetuate the,usurious system of debt capitalism that,is the modern financial world,so if youre comfortable with,traditional financial institutions and,comfortable with the custodial wallet,setup then block fi may be exactly what,youre looking for,block fi is a set it and forget it,system so maybe a good option if youre,not,knee deep in defy and want somewhere to,earn some yield on your crypto,if you want to check it out then click,the link in the description go over,there and sign up,youll get 10 in bitcoin after,depositing at least 100,on the platform i keep a balance of usdc,and coinbase to make quick buys when the,price of btc or eat drop,so i just sent that over and got the,reward within a day or so,if you dont like it transfer it out and,leave,and as always if you found this video,helpful please give the video a like and,help me rank better in the youtube,algorithm,think about subscribing if you want to,see more content like this and leave a,comment with any notes or suggestions,do you think blockfi is legit or are,they an over leveraged mess,let me know down in the comments,remember that investing is risky,especially when people are offering you,returns that seem unrealistic,always do your own research and be,careful before gambling with money that,you dont have,especially after taking advice from,someone like me a humble youtube,personality,and certainly not a financial advisor,anyway,im crypto beau thanks for watching and,stay safe out there
How Much My $10,000 Investment In BlockFi Makes Me In Passive Income Every Day
in todays video we are going to talk,about block fi,and how much passive income i make every,single day,with my 10 000 investment hello,everybody my name is sanad,and welcome to another episode of the,clever millionaire as you can see from,the title,in todays video we are going to be,breaking down,my ten thousand dollar investment in,bitcoin,on block five i will show you all the,juicy details,like what percentages i am earning how,much bitcoin i am making,every single day every single month all,of those,juicy details and i will tell you my,long-term plan,with this investment but before we get,started,if you are interested in joining blockfi,check out the link in the description,box below,if you use that link you will be able to,get up to 250 dollars,worth the free bitcoin so if youre,interested,check it out but guys it does not end,there,make sure you smash that like button,and subscribe to the channel so a couple,of weeks ago,i decided to join blockfy so i can earn,some passive income,some passive income in bitcoin which in,my opinion,is the best kind of income out there so,after joining,and seeing what kind of interest rates,they offer i decided to deposit ten,thousand dollars,of my own money into block five so if,you have not,heard about block five block five is an,awesome platform,that allows you to earn income every,single day,on your crypto currencies so if you have,bitcoin ethereum,or other cryptocurrencies youll be able,to deposit them,on block fight and earn interest the,interest is accrued daily,so every single day you will see your,accrued interest go up,and every single month your interest is,paid out,in the cryptocurrency that you are,holding so for example if you are,holding bitcoin,your daily interest will be paid out in,bitcoin,in my opinion also block fi has a ton of,other benefits,youll be able to take out cash loans,against your cryptocurrency,so if you are in the need of cash for,other investments for real estate,just to pay some bills youll be able to,take out a loan,against your cryptocurrency and get cash,to your bank account,in my opinion this is an awesome benefit,to have,best of all you do not have to sell your,cryptocurrency you can simply take out a,loan,against it one of the biggest benefit,that blockfi,will offer is the first ever,bitcoin rewards credit card block fi has,partnered with,visa to create the first ever bitcoin,rewards,credit card so just imagine earning free,bitcoin,on every purchase that you make with,this new credit card,the credit card will be launching in,early 2021,but if you join block five before then,and you make your initial deposit,youll be able to be put on the waiting,list so as soon as the credit card comes,out,youll be one of the first to get it and,now lets jump right into my block 5,account,so you can see exactly how much i am,making with my 10,000 investment now we are inside of my,account,and as you can see the value of my,bitcoin is ten thousand,three hundred and ten dollars and two,cents all right,i deposited ten thousand dollars even so,this is just because bitcoin is rising,in price,and it is increasing the value in my,account,which my opinion it is awesome simply,because,i am able to earn even more free bitcoin,the higher bitcoin goes the more bitcoin,i will earn,in this account and the more money i,will make,as you can see the total interest paid,in my account,is 16.45 that is how much money i made,in november,this is not for the entire month of,november maybe about a week and a half,at the end of november that is when i,created my account,and on the bottom you will see accrued,interest,four dollars and ninety four cents that,is how much,block fi has paid me in the last two,days,for having my money on block five every,single day,block five will give you interest and,that interest will be right there,in accrued interest at the end of the,month the accrued interest,will transfer over into the interest,paid section,which will be in your account and you,will be able to cash that money out,so every single day i am earning a crude,interest,right now it is about a dollar fifty to,two dollars a day,in free bitcoin some of you are probably,thinking two dollars a day in free,bitcoin,that is not much at all but the more,bitcoin rises,the more we will make at about two,dollars a day,in about a month ill make close to 60,every single month,worth of free bitcoin i know a lot of,you are thinking,that is not a lot but the interest gets,compounded and you get to earn,more and more interest every single,month which in my opinion,is awesome over time compounding can,make you a ton of money,and now lets break down the interest,rates that you will be able to get with,block fi,as of right now on all the bitcoin that,you deposit on block five,you will be earning a six percent return,also with ethereum youll be earning,5.25,return on all your ethereum also stable,coins like gusb,and usdc youll be earning 8.6 percent,on those which in my opinion is an,excellent return,so what is my personal plan with my ten,thousand dollar investment,with blockfi as you guys know i am,long-term bullish,on bitcoin and i believe that bitcoin,will continue to rise,in value and in price so im just,depositing my money in here,and watching it grow im letting it,compound for years and years down the,road,so why do i think this is a good,investment first off,it is hands off you simply create an,account deposit your cryptocurrency,and then let it earn interest every,single day,hands off easy passive income second of,all,i believe in bitcoin i believe that,bitcoin will continue to rise,third reason is they pay you in bitcoin,so for example if you deposit half a,bitcoin,over time youll get paid in bitcoin and,you will have more,of bitcoin and then eventually you have,one full bitcoin,so that is another reason why i like,blockfire also they are trusted they are,us-based,and they are partnering up with some of,the biggest names,in the industry right now they got a,partnership with,visa for the first ever bitcoin rewards,credit card,in my opinion block fight is a safe,platform they have great partnerships,they have an awesome platform you are,able to earn free bitcoin,man overall i am super happy with block,five so my plan,is to keep my bitcoin on block five as,long as possible,so i can earn even more bitcoin all,right,everybody if you are interested in,joining block five links in that,description,check it out also drop a comment below,and let me know,your favorite cryptocurrency coin drop,it in the comment section,and as always smash that like button,subscribe to the channel,and see the next video peace out
BlockFi Review Blockfi Review 2022
hi everyone welcome to this youtube,channel in this video we are going to,talk about the blockfy review 2022. so,before starting please like this video,and subscribe to this channel for our,future updates,blockfy could be a good choice if youre,looking to trade your crypto without,complicated fees and are interested in a,crypto rewards credit card block fi is,based in jersey city new jersey and was,founded in 2017,block fi has gained attention for its,high-yield crypto interest accounts from,customers as well as from the securities,and exchange commission its also had,complications with its lending product,though that may not be an issue for most,everyday investors who are just buying,and holding for long-term value growth,the company recently settled with the,sec after it was charged with failing to,register its retail crypto lending,product among other issues,blockfi agreed to pay 50 million dollars,in fines to the sec and another 50,million dollars to 32 states the sec,said in february the settlement also,required blockfy to stop offering,blockfy interest accounts to us-based,users,we reached out to blockfy for comment on,the sec case and the company said in a,statement it is working on bringing its,product in line with regulations and,registering with the sec under the,appropriate statutes after which it aims,to re-release its crypto interest,earning product to us customers,from the day we started block fi we have,always known that strong engagement with,regulators would be critical for the,adoption of financial services powered,by cryptocurrencies block fi ceo and,founder zach prince said in the provided,statement we intend for block by yield,to be a new sec registered crypto,interest bearing security which will,allow clients to earn interest on their,crypto assets,despite the pending issues with its,lending and crypto interest accounts,block fi offers a relatively simple,crypto trading experience especially,with regard to the way it folds its,trading fees into the overall crypto,prices,combine that with its block by rewards,visa signature credit card and it could,be an interesting option for crypto,investors,block five fees,block fi doesnt charge trading fees,instead the cost of spread or the,difference between what it costs and,what you pay for it is baked into the,listed price and you might find cryptos,for less on other exchanges,the prices at which you can trade might,be different than the market price you,see listed so take note of the actual,price youre exchanging it rather than,the list price,this will help with your record keeping,and help you stay aware of your,transactions,withdrawal fees,there is no fee for withdrawal to a bank,account via ach transfer although you,will see a 20 fee for domestic wire,transfers,if you decide to withdraw crypto to an,outside wallet you will pay a withdrawal,fee based on the cryptocurrency involved,and you might be subject to a minimum,and a withdrawal limit,while this wont affect many everyday,investors for example you can only,withdraw up to 100 btc in any seven day,period,other assets like ev link paxg uni and,bat dont come with any free withdrawal,option so you will always pay the fee to,cash out withdrawal fees are charged in,the associated cryptocurrency,so if you withdraw it youll pay a fee,of 0.015 f,fees and limits might change in the,future however so check the terms before,you move assets from block five to your,own wallet block fi security,block fi operates a custodial wallet,when you send us dollars to block fine,its converted to the same amount as,represented by a us dollar linked stable,coin your stablecoin is actually what,youre exchanging when you buy other,cryptos with your blockfy account your,assets on the platform are actually held,by a regulated custodian including,gemini which is a blockfi partner,blockfi touts its gemini partnerships as,an example of how its coordination with,other industry leading crypto companies,gives users greater protection and,security,blockfy also offers security measures,such as letting you set up your account,to only withdraw to approved wallet,addresses,this reduces the chances that someone,hacking your account can withdraw from,your wallet to a non-white listed,address,additionally block by offers two-factor,authentication,your money isnt held in cash deposit,accounts its exchanged for stable coins,so its not actually held as cash,therefore you wont have access to,federal deposit insurance corporation,fdic or securities investor protection,corporation cipic insurance,the ethic is a government agency that,ensures deposits and supervises,financial institutions for consumer,protection with the goal of maintaining,public trust in instability of the us,financial system the cipic is a,non-profit that aims to restore,investors securities and cash when a,brokerage firm fails,additional details,rewards credit card,block fi users can apply for the block,fi rewards visa signature credit card,which offers 1.5 percent cash back in,crypto you can also get cash back offers,on eligible bitcoin trades,the crypto rewards are deposited into,your block by account monthly,the card has a variable apr of 14.99,24.99,and you wont see annual or foreign,transaction fees,balance transfers are not allowed and,the card is not available to new york,state residents,for people who are interested in a more,limited crypto investing strategy using,credit card rewards points the block by,card could be an interesting product,just keep in mind its rewards rate is,similar to other cards that reward you,in cash back,loans,though we wouldnt recommend most,everyday investors mess with crypto,loans they are available on block fi,you can get a loan for up to 50,of the value of your btc ed or ltc if,you have crypto you can use as,collateral,rates start at 4.5 percent and there are,no prepayment penalties but the loan,does involve some risk,if the value of your crypto drops too,far you might have to pay down some of,it or add more crypto to the account in,order to maintain the requirements,blockfy interest account,while not currently available to us,based users the interest bearing account,is designed for you to earn interest on,crypto kept in the account,block fi is in the process of,registering a similar product called,block fi yield with the sec,if the sec approves this new product a,version of it would be available to us,based customers,who is blocked by best for,block fi is best if youre a beginning,to intermediate crypto enthusiast who,likes to manage different aspects of,your finances using crypto it works if,you want to quickly and easily buy sell,and trade limited coins from a custodial,wallet while accessing other services,like credit card rewards,if youre a more advanced user you may,find block fi lacking due to the limited,coins available for trading compared,with other exchanges such as coinbase,etoro and gemini who offer significantly,more options,how to open an account with block file,creating a block by account is fairly,simple,you need to provide information about,your identity including name and address,and provide a photo id,you will also need to connect a funding,source to move money into the account,once your account is open you can fund,and begin trading,thanks for watching