BlockFi Adjusts Interest Rates to Lure Larger Crypto Deposits

BlockFi’s new yields for those lending up to 10 BTC (its “Tier 1” customers) will be 5.1 percent. Right now, customers loaning up to 5 BTC see a yield of 6.2 percent. Likewise, their Tier 1 ETH lenders will also see a rate cut to 3.6 percent on loans of up to 500 ETH from 4.2 percent for lending 1,000 ETH.

On the other hand, yields will increase by a modest margin for users holding balances above 5 or more BTC (“Tier 2”) to 3.2 percent from 2.2 percent. (Tier 2) while ETH lenders will see a yield increase to 2 percent, up from 0.5 percent for more than 500 individual ETH (Tier 2).

“Our rates are still way ahead of alternative options and we remain the only retail-focused interest-earning platform that is US-domiciled/regulated, institutionally backed and doesn’t have a utility token,” Prince said.

Reference: https://www.coindesk.com/blockfi-adjusts-interest-rates-to-lure-larger-crypto-deposits

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