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BlockFi investing review: Trading with no fees or account minimums


BlockFi offers an array of crypto options for individuals and institutions. See how it works.

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BlockFi is a global platform offering interest accounts, crypto-backed loans, and crypto trading.
It doesn’t have minimum requirements or trading fees, though small spread fees may apply.
BlockFi’s loans are available to both individual traders and institutional clients.
Click here to set up an account with BlockFi.

Table of Contents: Masthead Sticky

Bottom line: BlockFi is best for individuals and institutions in search of crypto trading and banking perks. The platform also has instant trades and recurring trades, so this could make it an ideal option for beginner investors looking for a simple interface.

Is BlockFi right for you?

BlockFi Pros
BlockFi Cons

Trades are commission-free (excluding small spread rates)
No minimum account size requirement
Instant trades and recurring trades feature
Interest account is available worldwide and in 49 US states (with the exception of sanctioned or watchlist countries)

Limited cryptocurrency selection and educational resources
Interest account not available to New York residents
Interest account holders only get one free crypto and one free stablecoin withdrawal per month
Crypto balances have high risk since they aren’t protected by FDIC, SIPC, or other forms of insurance

Founded in 2017 by Zac Prince and Flori Marquez, BlockFi says it launched with the mission of offering credit and banking services to markets that had little access to savings accounts and similar products.

This led to its offering of crypto interest accounts, crypto-backed loans, and other crypto asset services. Plus, the crypto platform also provides a vast selection of crypto trading services for institutions and individuals.

Keep reading to learn more about BlockFi’s crypto products.

You can download the BlockFi app on iOS and Android devices.

Editor’s rating
4.12 out of 5

Fees
0% (spread fees can range up to 1%)

Account minimum
$0

Promotion
Earn $20 bitcoin bonus for each additional referral after you make five referrals. If you’re referred, you can earn $10 bitcoin bonus after you make qualifying deposits.

Open account

Not sure if BlockFi is right for you? Keep reading to see how it stacks up against other crypto platforms.

How does BlockFi compare?

Min. Investment

$0

Min. Investment

$2

Min. Investment

$5 minimum deposit; minimums vary per cryptocurrency

Fees

0% (spread fees can range up to 1%)

Fees

0.50% spread for buy/sell transactions; transaction fee from $0.99 to $2.99; up to 0.50% for Coinbase Pro

Fees

0% (spread fee built into exchange rates)

Investment choices

Cryptocurrencies

Investment choices

Cryptocurrencies

Investment choices

Cryptocurrencies

Open an account
Open an account
Open an account

BlockFi, Coinbase, and Abra all offer several crypto services for individual and institutional clients. The three mainly differ when it comes to fees, account offerings, and cryptocurrencies.

For instance, Coinbase and Abra have higher minimum requirements ($2 and $5, …read more

Source:: Business Insider

      

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