URGENT: THE END OF BLOCKFI (Interest Accounts) | What You Need To Know

We're looking at the updates to BlockFi's platform in light of regulations

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0:00 - Intro
0:39 - What's Going On With Crypto Interest
2:35 - What's Happening To BlockFi Interest Accounts
6:36 - What Should You Do
8:23 - Closing Thoughts

ABOUT: In this video I’m going to tell you all the details to help you understand what is going on, why this is happening, and what exactly you should do about it. BlockFi and the SEC dropped a bomb on us Monday morning with some big news about their interest account. Basically, BlockFi is sunsetting their Interest Account (BIA) for U.S. based clients only. This is due to the ongoing battle with the SEC over how to regulate BlockFi, and the cryptocurrency interest industry as a whole.

BlockFi is a crypto platform with crypto wallets, trading platforms, rewards credit cards, and a BlockFi Interest Account (BIA) for non-US customers. Unlike many crypto wallets that only store your digital currency, this unique cryptocurrency trading platform pays interest on the cryptocurrency balance you hold in an interest-bearing account. Their main feature, the BlockFi Interest Account, includes lending your cryptocurrency to institutional and corporate borrowers at high interest rates.

This unique cryptocurrency trading platform allows you to earn interest on cryptocurrencies you own, use cryptocurrencies as collateral for loans, or trade currencies including Bitcoin, Ethereum, Litecoin, and several stablecoins.

BlockFi is a comprehensive crypto platform that allows you to easily manage your crypto assets and optimize your wallet allocation. BlockFi accounts are best for investors who own or want to buy cryptocurrencies and want to earn interest by keeping their crypto assets in one place. BlockFi is a global platform for interest-bearing accounts, crypto lending and crypto trading. Some of the other ways BlockFi makes money include withdrawal fees, spreads on exchange trades, creation fees for cryptocurrency-backed loans, cryptocurrency mining, sponsorship fees, and rewards for investing in other trusts.

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