BlockFi – 7% return?! Update 8%! And 8.25%!! Going 9%!?

Back in early this year Feb, I signed up for BlockFi to test out buying/selling crypto. For the hack of a test, I made deposit of $200 and forgot about it since made an account. I found out that deposited USD got automatically converted to a stable coin called GUSD. GUSD is 1:1 USD-backed stable coin built by a secure, reliable, and regulated cryptocurrency exchange. Which means… 1 GUSD is 1 USD. Period. No more. No less.

So, I noticed that my account started to accumulate some interest on the $200. I didn’t really put a thought on it as it was only a dollar something. It has been consistently giving somewhere between $1.27-$1.40/month. Then, it struck! Wait a minute… if I do a simple math and calculate the interest rate, then it would be about 0.7%/month of interest which would be close to 8%/year!!! Eureka!!! I knew but didn’t realize until now. lol…

I knew BlockFi pays interest on crypto. I wasn’t aware that they pay interest on GUSD also!

So, this would be one of the best return if you have with some cash that you may need to use in short or long period of time. Definitely, you don’t want to leave it in “no return” bank account. I just made another $1800 deposit to make even $2000. I think I am going to place more cash as time goes. This would be much better return compared to many dividend stocks!

https://blockfi.com/?ref=bdf2227d <- Use this link for sign up. =]

Update on 083121 – Interest rate will increase from 7.5% to 8% as of 090121.

Update on 091621 – Credit card use of ~$800ish given the credit card rewards. $2000 deposit returned $12.36 interest.

Update on 092821 – another interest rate increase from 8.0% to 8.25% as of 100121.

Update on 101021 – interest payment with 8.25% and credit card rewards. Not so bad at all.

Updated on 102821 – Interest payment will increase to 9%. Wow… now I am getting a bit scared… =p

https://blockfi.com/?ref=bdf2227d <- Use this link for sign up. =]

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