Fidelity launches BlockFi Interest Account: a BTC and ETH account with compound interest
The Fidelity startup BlockFi has launched its BIA product “BlockFi Interest Account” with which it offers its customers up to 6.2% compound interest per year on bitcoin and ethereum deposit accounts. The news, published yesterday, has the aim of making BTCs and ETHs profitable by using the financial instrument known as compounding.
On the official website, the startup explains and describes the process that is also based on valuations in US dollars as well as crypto, this is due to the volatility of the latter. In essence, the monthly interest is 6% on BTC and ETH deposits with a compound interest of up to 6.2% for a period of 12 months. The plan offered by the BIA product requires a minimum deposit of 1 BTC or 25 ETH in order to benefit from interest..
Read the full article: https://cryptonomist.ch/