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)
BlockFi interest on 0.10BTC (max tier 1)
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.
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