BlockFi are about Earn interest. Buy Bitcoin. Borrow USD. Grow wealth. And everything about doing more with crypto.  BlockFi are competitive when it comes to helping their users make more out of their crypto. The BlockFi brokerage app is not only about buying cryptocurrency, but also about earning from crypto.

BlockFi expressed how it is possible to earn 10% APY on any new stablecoin balances until July 31, 2021. This might not be for too long.  This might change next month. For those who know how to make hay while the sun shines, this is quite the answer.

This applies for those who are already with BlockFi and also for new depositors.  Old customers who already hold account with BlockFi need not withdraw their deposits thinking it is only for new customers.

For those who are wondering if it is possible to earn 10% interest in USD on their BTC deposit:  Normally, the return on the BTC are little low because there is more of BTC available when compared to stable coin balances.

Someone who contacted support stated that “they wouldn’t do over 2% on 10+ BTC.”

At this point in time BlockFi are absolutely accepting new clients. Those who are wondering about how the interest will be paid, the terms and conditions state that:  The regular 8.6% APY will be paid as usual with interest payments on the last day of each month. The promotional 1.4% APY rate bonus will be paid out in a lump sum on 8/13.

The Terms and conditions page about this limited time offer states, “For example, if you have $5,000 in USD stablecoin prior to 4/22/21, this will earn 8.6%* APY, while an additional $10,000 deposited and held during the promotion period will earn 10% APY (boost from 8.6%* APY). Note, you will receive the incremental bonus (1.4%** APY) from those additional $10,000 on 8/13/21, not on the usual interest payment day.

After this promotional period ends, the promotion rate ends. This promotion may be combined with other promotions or offers on a case by case basis. Terms and interest rates subject to change. Geographical exclusions may apply. Void where prohibited, residents of New York State are not eligible.

*or the prevailing stablecoin APY, as applicable **or the difference between the promotional rate and the prevailing stablecoin APY, as applicable.”

It has also been stated:  “New and existing BlockFi clients who fund and maintain additional USD stablecoin balances (excluding Tether USDT) during the promotion period (4/22/21 00:00:00 UTC – 7/31/21 23:59:59 UTC) are eligible to receive a rate boost to 10% APY in GUSD on those additional balances.

Only additional USD stablecoin balances will be considered for this promotion. A snapshot of your USD stablecoin balance will be taken on 04/21/2021 23:59:59 UTC, and only additional USD stablecoin balances from 04/22/2021 to 07/31/2021 will be counted towards your bonus. Trades into USD stablecoin will also count towards your balance.

Clients will receive their regular monthly interest payments at 8.6%* APY in crypto paid out on the last day of each month as usual, with the promotional payment calculated on the average incremental balance over the promotional period and paid out in one lump sum in GUSD by 23:59:59 UTC on 8/13/21.”