Blockfi 2x double interest promotion - a good opportunity to start with BlockFi?

If you're using Brave Browser you might have come across a recent sponsored image of BlockFi telling you about their latest 2x Promo. But how good is this offer really?

Blockfi 2x

On their promo page it is further explained what this means exactly. 

"BlockFi clients who signup with the correct promotional code or received an email invitation and fund their account during the promotion period (7/6/20 - 7/18/20 23:59:59 UTC) are eligible to receive a one time bonus payment identical to their August interest payout.This promo only applies to clients who have never funded a BlockFi account. This bonus only applies to your August interest earnings and will be paid out on 9/15/20. Balance at the end of the promotional period must be held until 9/14/20 23:59:59 UTC to receive the bonus."

Sounds good? Time to finally open a BlockFi account? Yeah sure but there's a catch. This bonus can't be combined with any other bonuses.

So far so good, but what other bonuses?

In fact, there is already another bonus for new accounts. You can sign up with a referral code from another user and receive $10 in Bitcoin.

The highest interest rate on BlockFi is 8.6% on stablecoins. This is per year mind you. So to make $10 with the interest of one month, you'd have to put in at least $700 (rounding errors might have been made, this is just an estimate) 

This will get you roughly $5 accrued interest in one month which is then gonna be doubled to $10.

When depositing Bitcoin with an interest rate of 6% it is even more, like way over $1000 that you have to deposit. (By the way 6% is the highest interest rate available on Bitcoin in the market)

So if you have more than $700 no problem, just head over to the respective BlockFi website hit "Get 2x now" and signup with the code "2x".

But if you're like myself not the richest of all people, maybe consider signing up with my referral code b9651f1d or using this link instead. This way, if you deposit (only) more than $100 at once and hold it for 30 days, you'll receive $10 in Bitcoin with your next interest payout. Just hit "Get started" and sign up in minutes. You can also do this at any point in time since it's an ongoing promotion.

This is far more lucrative if you're only able to invest a smaller amount. 

After doing this you can also refer other people and earn even more Bitcoin. For more information on how this works, have a look at the refer-a-friend program.

Remember this is not financial advise, there's always some risk involved. Educate yourself and use at your own risk.

Also if you're not already using Brave Browser, feel free to download and install it using my link which will also support me. Take back control with Brave and get rewarded for watching ads.

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