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Have you folks looked at the withdrawal fees vs BTC/ETH interest for BLOCKFI? Do the math - IMO its not worth it to stick around.

All Cryptocurrencies

by COINS NEWS 162 Views

I have seen the recent news about some CEFI/exchanges blocking withdrawals but the amount I had in both BLOCKFI to maximize their tier 1 categories wasn't a significant stake for me financially. However, I finally pulled the trigger and pulled my crypto off recently because I did the calculations and realized that what little interest I received in the first tier did NOT make up for the withdrawal fees being charged. Check it out:

BTC withdrawal fee 0.00025 BTC (updated 7/1)

https://blockfi.com/fees/

BlockFi interest on 0.10BTC (max tier 1)

https://blockfi.com/rates/

0.0035BTC annually or 0.000292BTC/mo interest

=> BTC Withdrawal fee equivalent to 0.85 months interest.

ETH withdrawal fee 0.0135 ETH

BlockFi interest on 1.5ETH (max tier 1)

0.0525ETH or 0.004375ETH/mon interest=> ETH Withdrawal fee equivalent to 3.8 months interest

Fuck this, I'm out. You might want to consider if the risk is worth the reward on your side as well.

submitted by /u/wjean
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