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    BlockFi is a complete cryptocurrency ecosystem for advanced crypto traders. It has over 1 million verified users and over $10 billion in assets

    Users of this platform may appreciate the range of products BlockFi offers. In addition to its crypto exchange, BlockFi offers low-interest loans, a crypto rewards credit card, and an interest-bearing account that lets you earn up to 8% APY.1

    Investing in cryptocurrencies, Decentralized Finance (DeFi), and other Initial Coin Offerings (ICOs) is highly risky and speculative, and the markets can be extremely volatile. Consult with a qualified professional before making any financial decisions. This article is not a recommendation by Investopedia or the writer to invest in cryptocurrencies nor can the accuracy or timeliness of the information be guaranteed.
    Company Overview
    Founded in 2017, BlockFi is currently headquartered in Jersey City, NJ. This company’s primary mission is to reimagine and expand access to banking resources in communities that traditional banking services hadn’t served. Since its founding, BlockFi has grown into a global company with over 800 employees.

    BlockFi offers 13 digital assets available for purchase and several useful products. Overall, it could be a good option for advanced crypto traders.

    Cryptocurrencies Available
    There are 13 digital assets available on BlockFi, which is a low number compared with competitor exchanges. For instance, Coinbase and Kraken both offer over 100 digital assets. Here’s a partial list of assets BlockFi supports:

    Bitcoin (BTC)
    Chainlink (LINK)
    Etherium (ETH)
    PaxGold (PAXG)
    Litecoin (LTC)
    Dai (DAI)
    US Dollar Coin (USDC)
    Tether (USDT)
    Gemini Dollar (GUSD)
    Trade Experience
    BlockFi offers an online dashboard and mobile apps for Android and iOS. Overall, trading on BlockFi is intuitive and relatively simple to do. On desktop, users looking to make a simple trade would go to the table at the top of their screen and indicate which assets they’d like to trade.

    Users with a BlockFi Interest Account can also choose to set up recurring trades. Trades can be set to occur daily, weekly, or on the first 1st or 15th of the month. Its recurring trades feature makes BlockFi stand out among competitors.

    Overall, the trading experience is straightforward for those accustomed to using financial apps or an online brokerage account.

    Fees
    BlockFi’s fee schedule is slightly different than many exchanges, which often charge straightforward maker/taker fees. While BlockFi does not charge trading fees, it does charge withdrawal fees and imposes withdrawal limits. With certain assets, you’re eligible for one free withdrawal per month. But with others, you will be charged a fee for every withdrawal. See BlockFi’s full fee schedule for more information.

    Security
    BlockFi employs various user and platform security practices. To help prevent fraudulent activity on the platform, users will need to verify their identity when signing up for a BlockFi account. To do so, you’ll need to provide a government-issued photo ID as well as some basic personal information. BlockFi also offers optional two-factor authentication, which helps protect user accounts. Currently, two-factor authentication is not required of users but is encouraged.

    BlockFi holds its funds in cold storage with its partners, including Gemini. Cold storage means that assets are held in storage that’s not connected to the internet, making them generally more secure.