Over the past days, right after Blockfi released its latest news on interest for your Bitcoin and Ethereum deposit and keep it on Blockfi will earn 6.2% APY, interest will be paid out monthly, you can withdraw anytime, https://blockfi.com/earn-bitcoin-interest/.
Is it a ponzi scheme scam? – Not at the moment, very unlikely it will died or have issue like bitconnect and many other similar ponzi HYIP (high yield investment program) platform. However only time will tell even though this Blockfi is registered and license in New-york and able to operate worldwide with known staff people with clear photos profiles and appeared in public talk show, especially in youtube, it does not mean that they’re not scam because in the future let say years from now they could say they got hacked and their cryptos stolen and according to their TOS they will not be held responsible. However I think the good news is if they got hacked and found out that they allowed to get hacked purposely or was a set up insider, chances are you will get your original fund back, not the interest that is. So I think it’s pretty much safe, at least safer than bitconnect type of platform like arbitraging.co novachain.cc evoAI and so on, those platform are not registered anywhere and many times fake data and information, on top of that manipulating the price so you cannot sell or withdraw. Also blockfi.com is backed by Gemini exchange or at least what they say wallet being managed by Gemini.
Ok so on to the registration process, go to blockfi.com, click on register, easy just email and password. Then once you confirmed your registration from your email, you’re registered. Next, click on Interest account tab and click on invest Bitcoin or Ethereum it will take you to further steps to confirm your identity, you will need your real personal information such as your social security # and ID (driver license passport), don’t worry I think they’re pretty safe keeping your data as close as bank data, but don’t be surprise one day they will get compromised like any other banks and your data leaked, that’s why it’s best to have your credit monitor 24hours a day cheap or free. Once you uploaded your ID it will take some time to confirm, don’t close your screen or refresh or click anywhere on the loading page, let it confirm your identity, takes long time, but it will let you know once done, check your email to confirm also.
After confirmation email saying you’re ready to invest or loan. Go to the site and one last time consider about your password, is it really secured? change your password as needed to super secure password, change to something really long like a sentence or something that you will always remember like your favorite song that you whistle all the time, write down your user name password on paper keep it somewhere safe. As far as I know, blockfi don’t have 2FA yet, maybe in the future, but I think your account pretty secure since I think they monitor which IP and computer you log in from and may need verification from time to time.
Once your account is secured with login password, now you can deposit. For me I will deposit 25ETH today, and will provide an update how it goes. So stay tuned.