BlockFi Review: Pros and Cons. Is BlockFi safe?

Are you a native crypto user? Or perhaps you're curious about digital currency investing? If so, you've likely heard of BlockFi, one of the most popular exchanges in the industry today.

This is a companion discussion topic for the original entry at

Thanks for the detailed review :+1:


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Is BlockFi decentralised?

Does BlockFi offer interest accounts or loans other stablecoins like AUD, EUR, GBP, HKD etc?

Does BlockFi have an app?

How long does it take to withdraw bitcoin from BlockFi?

How do BlockFi pay such high interest rates?

I notice that logging into BlockFi, it goes through a handshake with FaceBook. Why? What is the relationship between FB and BlockFi?

How often does BlockFi change its interest rates?

How does BlockFi make money?

What currencies can I use with BlockFi?

Hi Sam,

It takes one business day to withdraw funds from BlockFi.


Hi Sarah,

You can have a savings accounts that earns interest on BlockFi with Bitcoin, Ethereum and GUSD.

You can get a crypto loan with BlockFi with Bitcoin, Ethereum and Litecoin.


Hi Kyle,

BlockFi is not decentralised. It’s a centralised company that’s run and regulated in New York, United States.

While it uses some blockchain technology, it is technically not a DeFi (decentralised finance) product.


Hi Dan,

Unlike others in the industry, BlockFi is a centralised platform that is funded through venture capital. While their rates are somewhat based on supply and demand in the market, they’re able to offer a higher, more stable rate because of their funding.

It could be a good idea to take advantage of that while you can.

Hi Anna,

Yes, they do have an app for both iPhone and Android. The released it in early 2020.

Hi Brad,

BlockFi makes money by having a “spread” on the interest rates. A “spread” is the difference between what BlockFi charges lenders and the interest rate they pass on to savers.

A hypothetical example of this is BlockFi could charge lenders 10% to borrow Bitcoin and pass on 8% to savers. The “spread” would be 2% and that would be part of BlockFi’s revenue.

How do I see the latest BlockFi interest rates?