Community Forex Questions
Which cryptocurrencies were supported by BlockFi’s platform?
BlockFi supported a range of major cryptocurrencies, allowing users to earn interest, trade, borrow, and make crypto-backed loans. The platform primarily focused on established, high-liquidity assets, including:
Bitcoin (BTC) – The flagship cryptocurrency, supported for interest accounts, trading, and loans.
Ethereum (ETH) – The second-largest crypto by market cap, available for earning interest and collateralised lending.
Stablecoins – BlockFi offered high-yield interest on USDC, GUSD (Gemini Dollar), PAX (Paxos Standard), and USDT (Tether).
Litecoin (LTC) & Bitcoin Cash (BCH) – Popular altcoins available for interest-earning and trading.
Chainlink (LINK) & PAX Gold (PAXG) – Select altcoins and gold-backed tokens were also supported.
BlockFi periodically added new assets but avoided highly speculative tokens to minimise risk. However, after its bankruptcy in November 2022, withdrawals and new deposits were frozen, leaving users unable to access these assets. The platform’s collapse underscored the risks of centralised crypto lending services, even with relatively stable cryptocurrencies.
Bitcoin (BTC) – The flagship cryptocurrency, supported for interest accounts, trading, and loans.
Ethereum (ETH) – The second-largest crypto by market cap, available for earning interest and collateralised lending.
Stablecoins – BlockFi offered high-yield interest on USDC, GUSD (Gemini Dollar), PAX (Paxos Standard), and USDT (Tether).
Litecoin (LTC) & Bitcoin Cash (BCH) – Popular altcoins available for interest-earning and trading.
Chainlink (LINK) & PAX Gold (PAXG) – Select altcoins and gold-backed tokens were also supported.
BlockFi periodically added new assets but avoided highly speculative tokens to minimise risk. However, after its bankruptcy in November 2022, withdrawals and new deposits were frozen, leaving users unable to access these assets. The platform’s collapse underscored the risks of centralised crypto lending services, even with relatively stable cryptocurrencies.
Jun 06, 2025 02:23