Got another email from BlockFi yesterday. I swear I'm not trying to be "that BlockFi Guy." I didn't see this advertised clearly on their website, and figured I'd help spread the news. If you want to take advantage of this promotion You still have time to ACH money in, if you do it TODAY. If not you will have to wire it in, eating whatever fees your bank will assess, no later than SUNDAY 28MAR2021 to be able to meet the promotion's deadline. If you deposit some cryptocurrency into your account it will be there in approximately 30min and will be ready to trade. These timelines are based on how long it's taken me historically to get money into the account.
BlockFi has a tiered bonus for trading crypto on the platform that ends 31MAR2021. As I have always said, "There's no such thing as a free lunch. Read the fine print and you'll see that bonuses are paid out end of day 31MAY2021. Bonuses are tiered based on how much volume you trade on their platform. See below:
Look, it ain't much but some free BTC for using a platform I'm already on is a nice little "bonus". Especially when you factor in the 6% compound interest paid monthly in BTC that you'll earn by just holding it with them and the lowest bonus rate still beats all checking/savings accounts. I have personally made enough trades to get a tier 1 bonus. If they count trading USD for a stablecoin I'll be really happy since it'll increase my bonus, buuuuut I'm not holding my breath on that one. Don't both trying to pull a fast one doing stablecoin to stablecoin trades, that's listed as not being eligible to qualify for the promotion. Believe me that was my very first thought as well.
If you've not heard of BlockFi before you can check out this other post I wrote about them - New to the game? Start by staking. I'm essentially using them as a high interest savings account with stablecoins getting 8.6% APY for just having them sit there. Sure beats the hell out of my checking/savings accounts getting me a earth shattering 0.10% or 0.15% for sitting there. Their other staking rates for BTC and ETH are competitive as well, there's no lockup times, if I want to leave the platform the coins are mine to take with me, and they provide tax documents for US citizens/residents. I do think that it's interesting that BlockFi is offering more "promotions" as of late. I haven't been on the platform long enough to tell you if this is a trend or not, but promotions are one way to attract new investors, and with new people jumping into cryptocurrency they could be trying to capitalize off of that trend.
If you don't have an account with BlockFi and are interested in jumping in please click the link here to signup. - FULL DISCLOSURE - That is my referral link and by signing up through it you will get $10 and I'll get $10 if you deposit at least $100 into the account. Just like this promo that will take about a month or two for it to hit your account. Not a bad little bump for signing up to use a platform you plan on using to leverage an existing promotion.
**Not financial advice**