Consumer financial services company BlockFi announced that it had decided to drop minimum-balance requirements for its Interest Accounts. This means that BlockFi Interest Account (BIA) holders can earn interest on any amount of cryptocurrency stored in their account. Moreover, they have decided to provide one free withdrawal every month and have removed penalties for early withdrawals, although accounts are still subject to Gemini’s withdrawal minimums: 0.003 BTC and 0.056 ETH.
According to their announcement, this was done due to client feedback, the increasing demand for BIA and the rise in the price of Bitcoin since the launch of BIA.
“We’re thrilled to see the growth in platform activity from crypto investors leveraging our wealth management products. This update to our terms will make our products more widely accessible – which is a key theme of the crypto sector and part of our mission at BlockFi.”
– Zac Prince, CEO and Founder of BlockFi Source...