With the loan program offered through BlockFi, you don’t have to sell your crypto. Instead, you can simply barrow funds against your cryptoassets while continuing to hold! Along with their credit card (which pays 1.5% back on every purchase), trading account and compound interest account, BlockFi also offers a Bitcoin lending program which they call crypto-backed loans. These loans are great for anyone who needs some capital or quick cash and come with interest rates as low as 4.5% APR. It’s a quick, secure, and easy way to borrow cash by using your cryptocurrency as collateral. Keep in mind, the minimum loan amount is $10,000 USD and lending parameters vary by jurisdiction. Supported cryptocurrencies include BTC, ETH, LTC, and PAXG. At the current rate, someone wanting to barrow $25,000 USD would need to put down roughly 1.19 BTC in collateral. Benefits of the BlockFi Bitcoin lending program include receiving funds as quickly as the same business day and the ability to pay off a portion or the entirety of your balance as quickly as you want with no prepayment penalties. Get the capital needed to reach your financial goal with the help of BlockFi’s cryptocurrency lending services. Visit their website below to learn more about how this trusted financial services company can help you!
Resource Name: BlockFi
Resource Website: BlockFi.com
Resource Category: Bitcoin Lending