According to forbes website, https://blockfi.com/blockfi-news/blockfi-now-supporting-litecoin-gusd-for-crypto-backed-loans/ https://www.forbes.com/sites/billybambrough/2019/03/05/crypto-challenger-bank-offers-bitcoin-interest-account-and-has-great-rates/#563385e03878 indicated that Gemeni exchange offer 6.2% interest on your deposit. Whatever coins you deposit, you will get interest based on that coins and pay on that coin. So let say you deposit 10bitcoin, you will get 6.2% which is 0.62 bitcoin after the period ended.
So what’s the 6.2%? as usual I believe it’s annual, so if you keep your bitcoin in Blockfi Gemeni for a year without touching it, you qualified for a return of 6.2% based on your deposit. But, will they pay monthly? or quarterly? or annually? Is your Bitcoin locked for the period like bank CD savings account and so on?
I think it makes sense to pay monthly, just like bank paying dividends, most likely getting paid monthly based on your balance for that month. So is it safe?
I think Blockfi Gemini can be trusted, just like coinbase, although these are not completely FDIC insured, so they’re not like your bank. However your USD balance is FDIC insured, but your coins like Bitcoin Ethereum Litecoin Ripple etc… are not FDIC insured, so you would need to exchange them to USD keeping it in Gemeni then it’s FDIC insured up to $250000 I believe just like coinbase. “CUSTOMER FUNDS
All U.S. Dollar deposits are held for your benefit at FDIC-insured banks. All digital assets are custodied in trust on your behalf. The majority of digital assets are stored offline in our proprietary Cold Storage system.” https://gemini.com/security/
Bottom line, Blockfi Gemini Exchange is not like bitconnect arbitraging.co novachain.cc EVOAI etc … those platforms are HYIP Ponzi pyramid scam multilevel marketing whatever you call it. Gemini Exchange can be trusted more than those HYIP Exchange Ponzi, although Gemini offer lower 6.2% but they’re real, not like the 10% a month, that’s just crazy and saying they have trading bot, it’s funny that still people believe in it, and the reason is because 90% fake investors saying positive things and 10% actual investors whom fell for it.