BlockFi Wallet is a non-interest bearing account that allows you to easily buy, sell, and store your cryptoassets, without any rehypothecation on the back end. Your BlockFi Wallet is your default account where you can buy, sell, and store crypto while also borrowing assets.
The BlockFi Interest Account (BIA) is an account that generates crypto interest in crypto on your assets that, as of February 15, 2022, is available only to non US-based clients.
If you are a US-based client that had a BlockFi Interest Account prior to 2/15/2022, the assets stored in your BlockFi Interest Account will continue to accrue compounding crypto interest paid back into your BlockFi Interest Account on a monthly basis, but you will not be able to add new assets to your BlockFi Interest Account.
If you are a US-based client and you have created your BlockFi Account after 2/14/2022, you will not have the option to open a BlockFi Interest Account.
We’re actively engaging with regulators at both the federal and state level as we work to fight for you and your right to have a suite of products and services to grow your crypto wealth - including earning crypto interest on cryptoassets.
Cryptocurrencies are in the process of becoming a part of mainstream finance, and we are grateful that early crypto adopters, like you, have remained excited about BlockFi during these pioneering times. At BlockFi we are very bullish on the future of crypto, and we will continue rolling out products and services that help you grow your wealth.