Discourse/General/2021-03-31 Move some BTC into BlockFI

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📅 Archived: 2021-04-16
🏷 Original category: General

Move some BTC into BlockFI?

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themanmaran — 2021-03-31

It’s some crypto asset manager that pays interest on crypto balances.

We’ve got 3.2 BTC left. This place pays 6% on BTC holdings > 2.5 coins.

Or we could also transfer 1-2 coins to USDC for that 8.6% rate. 


     BlockFi

Crypto Interest Rates | BlockFi Interest Account (BIA) Rate

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Here are our latest rates for interest-earning accounts & loans. Please note: interest rates, withdrawal limits, & fees are subject to change.

Paul_H _2021-04-02_

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I think maybe sending 2 coins over there at first makes sense.

My hesitation with USDC is if Bitcoin goes to $100k, and I would say there is a fair chance of that happening.

I guess we could also buy some USD from the cash we have from selling the coins? That could earn 8%.

Since we have more than $100 k in cash, that would be $8600 / year or close to one month of rent!


pemulis — 2021-04-03

If you’re up for it, I could help you bridge it to Ethereum and earn a much better interest rate with stronger security guarantees through DeFi. That’s what I’m doing full-time lately.

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