The firm cited popular demand on social media as its decision to add LINK.
Shutterstock cover by Gorev Evgenii
Share this article
URL Copied
BlockFi answers the Chainlink army’s calls.
BlockFi to Add LINK
BlockFi said it would add LINK–the native token of decentralized oracle project Chainlink. LINK is the ninth-most popular crypto asset, currently standing at a market capitalization of more than $11 billion, as per CoinGecko.
The asset will join BlockFi’s select list of supported cryptocurrencies, including Bitcoin (BTC), Ether (ETH), Litecoin (LTC), PAX Gold (PAXG), and various stablecoins.
With the announcement, LINK holders can access the platform, earn interest, and secure loans against their holdings.
The firm cited its decision to add LINK tokens to popular demand on social media.
Founded in 2017, the firm provides a service known as BlockFi Interest Account (BIA), allowing users to earn interest up to 8.6% APY on their crypto holdings.
The interest varies from coin to coin, and BlockFi has specified the interest rate for LINK deposits on the platform is 5.5% APY.
Today’s announcement will benefit LINK holders keen to earn interest without worrying about managing their private keys. However, BlockFi may not appeal to some crypto holders for its centralized nature.
Disclosure: The author did not hold crypto mentioned in this article at the time of press.
Share this article
URL Copied
The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
BlockFi, a New York-based project offering wealth management services to crypto investors, has removed a major barrier to entry for its BlockFi Interest Account. Starting today, BIA clients will not...
Centralized lending platform BlockFi is rolling out its services to users in Europe. Soon, Swiss, Dutch, and Italian citizens can begin earning up to 9% on their crypto. BlockFi Enters...
Crypto.com to Leverage Chainlink Oracle Price Feeds for DeFi Product
Chainlink will provide price reference data for Crypto.com’s DeFi wallet in its latest integration. Crypto.com will also provide its price data for CRO/ETH and CRO/USD onto the Chainlink Network. Chainlink’s...
