Blockfi Ethereum compounding

rob24700 (38)in #ethereum • 4 years ago

Hello Bloggers,

Do you want to earn more ETH on your already existing ETH? Well now you can, the platform is called “BlockFi” and the company is based in New York City.

At the time of writing this blog 1 ETH is currently worth $301 USD, and I strongly believe that ETH could be worth a lot more in the coming years as more DAPPs are run on the platform and more people use DeFi with Ethereum being the under-lining platform.

This is not investment advice but I think a good idea would be to compound your already existing ETH. The way you do that is to open up a new BlockFi account and send your ETH to the BlockFi company. At the time of writing this blog a new customer with be able to earn 4.5% on their ETH, you simply leave your ETH on the platform and let the ETH earn you more ETH.

However, this does not come without risk and you must be aware of the risks. The saying in the Cryto world is “not your keys not your crypto”. Which means that you will have to hand over full control of your ETH to BlockFi (or hand over your private key). The worst-case scenario is that BlockFi gets hacked and you will lose all of your ETH. Much like the famous hack on mt gox exchange.

The good news is that BlockFi are well aware that they are a target and I have no doubt that they will have some of the best firewall protection in place. Also being based in America you can be assured that the BlockFi will have to strict regulations.

When you feel the time is right for you please use my referral link:

https://blockfi.com/?ref=38507036