It\u2019s no secret that crypto investors have been on a rollercoaster for years, but unfortunately this ride has been on its descending arch for the past year. Despite this, there are still plenty of ways to profit in the markets, including depositing your cryptocurrency in a high-interest account in exchange for unprecedented interest rates.<\/p>\n
The Gemini-backed BlockFi is now allowing users to deposit Ethereum<\/a> and Bitcoin<\/a> into accounts that pay 6.2% annually, which is an unprecedented interest rate considering that most banks pay clients a mere 0.08% on their fiat savings.<\/p>\n Although 6% annually may seem like peanuts compared to the exponential gains that crypto<\/a> investors bore witness to throughout 2017, during the bear market earning 6% on one\u2019s crypto stash is not a bad deal and could allow users to accumulate more Bitcoin or Ethereum that could ultimately be worth significantly more in the future \u2013 assuming the markets climb from their current position.<\/p>\n The new accounts, which were announced today, will pay users their interest on a monthly basis, and all incurred interest will be subject to compounding, which will raise the APR from 6% to 6.2%.<\/p>\n \u201cToday we are launching the BlockFi interest Account (BIA). Users can securely store Bitcoin or Ether at BlockFi and receive 6% annual interest, paid monthly in cryptocurrency! BIA interest compounds monthly, delivering an industry-leading APY of 6.2%.\u201d<\/p><\/blockquote>\n Today we are launching the BlockFi interest Account (BIA). Users can securely store Bitcoin or Ether at BlockFi and receive 6% annual interest, paid monthly in cryptocurrency! BIA interest compounds monthly, delivering an industry-leading APY of 6.2%. https:\/\/t.co\/QmkRVxOBQ7<\/a> pic.twitter.com\/Gn247S6LAw<\/a><\/p>\n — BlockFi (@BlockFi) March 5, 2019<\/a><\/p><\/blockquote>\nIs BlockFi\u2019s New Product the Highest Yielding Deposit Account in Finance?<\/strong><\/h2>\n
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