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Listen "12: How to Earn 8.6% Interest (APY) through Cryptocurrency Lending with BlockFI - Today We're Talking Crypto, Blockchain, Bitcoin and BlockFI"
Episode Synopsis
Today we're talking Cryptocurrency, Blockchain, Bitcoin, and BlockFI
BlockFI is a platform that allows you to earn up to 8.6% APY on crypto assets, including USD stable coins. They are able to accomplish this by providing lending solutions to individuals and institutions who want to either borrow crypto or get access to cash without having to sell their crypto assets. An example: An individual bought Bitcoin when it was $4,000 and now it is $20,000. They initially purchased 5 shares which are now worth $100K and would like to use that asset to upgrade their kitchen but don't want to sell their bitcoin to do so because it would be a taxable event and take a large bite out of their asset. Instead, they take a loan from BlockFI for up to $50,000 at a 9.75% interest rate and 2% origination fee. Because banks aren't yet comfortable with accepting bitcoin as collateral to lend against, BlockFI can charge moderately high rates and afford to pay its' investors a high rate of return on their investment. We are currently moving forward with an investment in BlockFI and think you should look into them too.
***** If you want to learn how to invest for passive income to reach financial independence simply follow the steps of our Ultimate Guide by Clicking the Following Link: https://businessandinvestingsherpa.com/how-to-invest-for-passive-income-and-financial-independence/
Today's Sponsor: M1 Finance - https://businessandinvestingsherpa.com/m1
M1 Finance is one of my favorite investment tools because it’s FREE, it allows you to purchase partial shares of stock, and it allows you to do automatic rebalancing.
Resources Needed to Start Your Business and Invest the Profits (Our Top Recommendations) -
Helium 10 (50% OFF 1st Month or 10% OFF every month with our link) #1 Must-Have Amazon Tool! - https://businessandinvestingsherpa.com/helium10
Jungle Scout - (30% Discount with this Link) Great for Product Research - https://businessandinvestingsherpa.com/junglescout
TaxJar - Essential for Sales Tax Collection for Sales on Your Website - https://businessandinvestingsherpa.com/taxjar
QuickBooks - What we use for accounting, we love setting up automated rules - https://businessandinvestingsherpa.com/quickbooks
Disclaimer: The above links are affiliate links, meaning we will earn a small commission at no cost to you. We greatly appreciate your support of the show in this way!
BlockFI is a platform that allows you to earn up to 8.6% APY on crypto assets, including USD stable coins. They are able to accomplish this by providing lending solutions to individuals and institutions who want to either borrow crypto or get access to cash without having to sell their crypto assets. An example: An individual bought Bitcoin when it was $4,000 and now it is $20,000. They initially purchased 5 shares which are now worth $100K and would like to use that asset to upgrade their kitchen but don't want to sell their bitcoin to do so because it would be a taxable event and take a large bite out of their asset. Instead, they take a loan from BlockFI for up to $50,000 at a 9.75% interest rate and 2% origination fee. Because banks aren't yet comfortable with accepting bitcoin as collateral to lend against, BlockFI can charge moderately high rates and afford to pay its' investors a high rate of return on their investment. We are currently moving forward with an investment in BlockFI and think you should look into them too.
***** If you want to learn how to invest for passive income to reach financial independence simply follow the steps of our Ultimate Guide by Clicking the Following Link: https://businessandinvestingsherpa.com/how-to-invest-for-passive-income-and-financial-independence/
Today's Sponsor: M1 Finance - https://businessandinvestingsherpa.com/m1
M1 Finance is one of my favorite investment tools because it’s FREE, it allows you to purchase partial shares of stock, and it allows you to do automatic rebalancing.
Resources Needed to Start Your Business and Invest the Profits (Our Top Recommendations) -
Helium 10 (50% OFF 1st Month or 10% OFF every month with our link) #1 Must-Have Amazon Tool! - https://businessandinvestingsherpa.com/helium10
Jungle Scout - (30% Discount with this Link) Great for Product Research - https://businessandinvestingsherpa.com/junglescout
TaxJar - Essential for Sales Tax Collection for Sales on Your Website - https://businessandinvestingsherpa.com/taxjar
QuickBooks - What we use for accounting, we love setting up automated rules - https://businessandinvestingsherpa.com/quickbooks
Disclaimer: The above links are affiliate links, meaning we will earn a small commission at no cost to you. We greatly appreciate your support of the show in this way!
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