BlockFi crypto wealth management and lending company now has over $53 million in client crypto assets under management.
BlockFi announced the update in a blog post on April 23.
In the announcement, BlockFi also states that it will implement some policy changes starting from May 1, 2019.
Specifically, the company says that the minimum deposit to earn interest has been lowered.
Bitcoin balances of 0.5 BTC and more will begin earning interest on their deposits, while ethereum deposits up to 250 ETH will earn 6.2% annual percentage yield.
BlockFi has previously amended some of its policies.
The company said then that balances of up to or including 25 BTC or 500 ETH would still earn the 6.2% APY, while all balances over that limit were set to earn a 2% rate starting on April 1.
BlockFi has said that it will add a fiat withdrawal fee of 0.0025 BTC and 0.0015 ETH in April, although all withdrawals submitted prior to that will reportedly remain free.
"These small adjustments are necessary to ensure that BIA can support as many clients as possible while maintaining the high quality services we provide to the average crypto consumer," BlockFi explained.
Rather than just "Hodling" and hoping that Bitcoin appreciates, investors can purportedly earn a fiat-based yield on their BTC by employing what is referred to as a call overwrite technique, wherein an investor deposits BTC into LedgerX, then sells a call option at a slightly longer date, with a higher strike call option.
BlockFi Now Has Over $53 Million in Client Crypto Under Management
gepubliceerd op Apr 23, 2019
by Cointele | gepubliceerd op Coinage
Cryptocurrency exchanges see massive increase in monthly trading volume, bull market solidifying
CryptoCompare, a leading provider of cryptocurrency data and indices, found that the top 15 exchanges all experienced an increase in monthly volume.
Worldwide crypto acceptance is within reach thanks to Coinbase Commerce's USDC stablecoin integration
Crypto as a method of payment has just gotten easier.
Zimbabwe Stock Exchange Eyes Blockchain-Based Products, Needs Regulatory Clarity
"Then there is the money side to blockchain technology. This is a bit difficult, in terms of regulation, we are not yet clear on this and we do not want to do something where regulation is not clear as an exchange. But the technology side is very good."
UK Watchdog Reports $34 Million Lost in Crypto and Forex Scams Last Year
The primary financial regulator of the United Kingdom, the Financial Conduct Authority, reports that crypto investors in the country lost over $34 million due to cryptocurrency and forex scams from 2018-2019 the Financial Times reports on May 20.According to the data, which the FCA gathered from the U.K. national fraud and cybercrime reporting center, Action Fraud, individual loss due to scams decreased from $76,000 to $18,500 while total losses fell by $14 million.