How does BlockFi interest work?

BlockFi Interest Account clients can earn interest in crypto. Paid out at the beginning of every month, the crypto interest earned by account holders compounds, increasing the Annual Percentage Yield (APY)* for our clients. BlockFi uses a tiered Interest Structure. Click here to learn how our tiers work. Rates are effective August 1, 2022.

How do I calculate APY?

Determine compound frequency, e.g., half-yearly. The calculator will then calculate the APY. In this case, it amounts to 2.01%. If you want to make the inverse calculation, you can also use the savings calculator. This tool helps you estimate how much you'll save or how much you need to deposit if you have a certain amount as your goal.

Are BlockFi interest accounts still available in 2022?

As of February 14, 2022, BlockFi Interest Accounts (BIAs) are no longer available to new clients who are “U.S. persons” or persons located in the United States and existing U.S. clients will be unable to transfer new assets to their BIAs.

Is BlockFi a bank account?

BlockFi will communicate any rate changes prior to these changes taking effect. Digital currency is not legal tender, is not backed by the government, and the BlockFi Interest Account (BIA) is not a bank account nor a brokerage account, and is not subject to FDIC or SIPC protections.