Has anyone been able to send monies to their BlockFi account successfully? I've just created a BlockFi account and converted GBP into USD within Revolut. But tried sending money twice and failed. Can anyone help?
Posted Feb 18, 2021, 5:42 PM UTC
if you are in uk the smoothest way is deposit gbp to binance , then exchange to whatever crypto, or USDT and after do a transfer to Blockfi... deposit GBP to binance is super easy , free of charge and it takes 5 min
When I preview transfer USDT from Binance to Blockfi it say's there is a $20 fee, is that unavoidable or is there better way?? I just want the easiest way to take money from my bank and put it half in $USDT/$USDC without paying huge transaction fees!
that 20 is standard for any ammount of USTD you move. USDC is cheaper, I don't remember, about 12 or 14 $. Alternatively you could buy Litecoin on Binance , transfer to Blockfi. Litecoin is very cheap to transfer, i don't remember the ammount. Then on blockfi you can convert to Litecoin to whatever USTD or USDC buuuuuutttt....they say that this exchange is free, but is not true and they charge you 1% for this...so it depends from how much you need to transfer and if this 1% is less then USDC withdraw rate on binance....
I’m just about to go ahead with a fairly large 10k deposit, I’ve decided to buy ethereum on Coinbase pro then transfer to BlockFi. Did you ever settle on a method? Terrified but excited at the same time. I’m hoping to extend my house in 3-5 years so I’m okay if we hit a 3 year crypto crash but from my research, I don’t think one will ever happen again, or if it does, not as severe.
Edit: also decided to go with BlockFi as the 5% interest should get me a full coins worth over 3 years holding 7 coins. Cold storage feels safer but that’s a huge gain on top of a hopefully rocketing coin
Yes I managed to get my monies into BlockFi, but o did it via Crypto.com. got hit with gas fees but all good. Like you I've put into cefi and getting those gains. Need to up the amount I've invested though Good luck!
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I have used Blockfi without any issues and deposited bitcoin from my coinbase account. I would recommend to deposit using bitcoin or ETH and not with a bank transfer or USD
Same, this is what I do from Ireland.