homepostsDoes BlockFi have a coin?

Does BlockFi have a coin?

Kevin VoigtNov 15, 2021

You can buy, sell, and trade major coins like Bitcoin and Ethereum from their website along with USD-based coins like USDC, USDT, GUSD, ad PAX. Trading is instant, and it's stored in your account on BlockFi. There's also a crypto-backed loan system where you can place your crypto as collateral for same-day cash.

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Thereof, has BlockFi been hacked?

BlockFi Hacked Following SIM Swap Attack, But Says No Funds Lost. For just under 90 minutes last Thursday, hackers were able to compromise the systems of cryptocurrency lending platform BlockFi, and gain unauthorised access to users' names, email addresses, dates of birth, address and activity history.

Also to know is, is BlockFi a good investment? BlockFi is right for you if:

You're a beginner or intermediate cryptocurrency investor. You're open to increased regulation in exchange for higher security. ... You want to earn interest on your crypto holdings. You want easy access to portfolio-backed loans to maintain liquidity without incurring capital gains taxes.

Moreover, is BlockFi legal in the US?

BY GRANTING BLOCKFI TRADING, LLC A LICENSE, THE FLORIDA OFFICE OF FINANCIAL REGULATION IS NOT ENDORSING THE USE OF DIGITAL OR VIRTUAL CURRENCIES. U.S. currency is legal tender backed by the U.S. government.

How legit is BlockFi?

Compared to more traditional investment accounts, BlockFi offers 43x more than “high-interest” savings accounts with Ally Bank (0.2%) and 4.7x than WealthFront (1.82%). However, it's worth noting that BlockFi deposits aren't FDIC insured, so BlockFi account shouldn't be considered a savings account.

Can you lose money on BlockFi?

Client Funds are Prioritized— BlockFi makes sure client funds are structured to be at the top of the capital stack even over BlockFi equity, and employee capital. This means if the worse case happens, BlockFi would take a loss before any client funds would take a hit.

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About The Author

Kevin Voigt

Kevin is an Entrepreneur, Digital Nomad, Student, and ICO Marketing Manager currently based in Berlin & Champaign. He is actively involved in the Blockchain space and has worked in numerous projects in the Silicon Valley since 2017. His interests revolve around Finance, Consulting, and Blockchain Research.

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