If you are looking to add collateral to your BlockFi loan, there are three ways for you to do so via your BlockFi Wallet or through an external wallet.
This functionality is available to all retail clients and is designed to make posting collateral faster and easier.
IMPORTANT: If you need to post collateral to your BlockFi loan as soon as possible, we strongly recommend utilizing Options 1 or 2 below. If you must transfer external funds to your BlockFi Wallet via Option 3, we recommend using a Wire Transfer instead of an ACH transfer though both may take anywhere from 3-5 business days to process.
Below are step-by-step instructions for each “Add Collateral” option.
Option 1: Add external crypto funds directly to your BlockFi loan collateral.
Log in to your BlockFi dashboard via your desktop or mobile browser. Please note that this functionality is not currently available via the BlockFi mobile app.
Press the blue “Add Collateral” button.
Select the “External Wallet” option.
Transfer external crypto funds from your third-party wallet to the receiving wallet address provided by BlockFi.
Option 2: Add crypto funds to your BlockFi loan using your existing BlockFi Wallet assets.
Log in to your BlockFi dashboard via your desktop or mobile browser. Please note that this functionality is not currently available via the BlockFi mobile app.
Press the blue “Add Collateral” button.
Select “BlockFi Account” option.
Input the desired transfer amount* from your BIA.
Select “Add Collateral” at the bottom of the prompt.
*Please note that you must have funds available in BlockFi Wallet that are the same asset (BTC, ETH, etc.) as your loan collateral.
Option 3: Add USD funds to your BlockFi Wallet via Wire Transfer, convert to crypto and transfer directly to your BlockFi loan.
Log in to your BlockFi account via desktop browser or mobile app.
Add USD funds to your BlockFi Wallet via a Wire Transfer.**
Follow the steps in Option 2 above.
**Please note that any funds deposited to your BlockFi Wallet via Instant ACH are subject to a five business day hold and are not eligible to be allocated as loan collateral until the hold is complete.