Crypto interest begins accruing the day after funds are transferred from the BlockFi Wallet to the BlockFi Interest Account (BIA). Crypto interest is paid out on a monthly basis at the end of the month. Crypto interest compounds monthly, so after you receive your first crypto interest payment, the next month crypto interest will accrue on your original principal + crypto interest earned!
For example, in a month with 30 days, if you transfer assets to your BIA on the 15th, you will earn ~15 days worth of crypto interest.
If you transfer funds to your BIA on the 20th, you will earn ~10 days worth of crypto interest. Each instance is prorated based on the number of days that the funds were held in the account.
Crypto interest account statements are available on the first business day of each month.