BlockFi startup operating in the cryptocurrency lending segment has removed the minimum deposit limit for Bitcoin, Ethereum and Gemini Dollar (GUSD). Now the service accrues annual interest on any amount.
We are removing minimums and fees for the BlockFi Interest Account (BIA). This means you can now earn interest on your crypto regardless of how much crypto you own. Learn more and get started today ? https://t.co/NhMlLTRkrW #Crypto
– BlockFi (@TheRealBlockFi) September 13, 2019
In the past, minimum deposits were 0.5 BTC / 25 ETH / 2500 GUSD. The company emphasized that the decision was a response to numerous requests from users.
BlockFi also allowed one free withdrawal per month, abolishing fines.
The startup is already offering its services in India and is about to expand in Latin America. The management plans to offer financial products developed in accordance with US standards to residents of countries such as Argentina and Costa Rica.
Recall that BlockFi introduced crypto-deposit accounts with a yield of 6.2% in March. Soon, the deposit rate of more than 500 BTC was reduced to 2%. At the same time, the median balance of customers amounted to $ 7,000.
The company has already raised more than $ 74 million from Galaxy Digital by Mike Novogratz, Fidelity Investments, Coinbase and others.
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