Version 3 - Cryptocurrency Lending

Author: Brendon Wong

Date Updated: 2021-11-18

Date Added: 2021-11-18

Research Phase: Medium Investigation - We’ve had multiple researchers review this recommendation

Pitch: Instead of earning under 1% interest on your savings account, you can earn 8%–12% interest with accounts offered by crypto lending organizations like BlockFi

Audience: 95% - Most US adults
Benefits: Earn 8%–12% interest per year on US dollars Costs: No significant time or monetary costs compared to common alternatives Risks: We estimate an annual risk of partial/full loss of 0.5%–12.5%
Certainty: 100% - Interest payouts have been verified
Difficulty: Low-moderate - Hesitation around new technologies and setup logistics
Overall Score: 5/10 - Moderate effect on lifetime wealth

Additional Information

Alternative Approaches

Recommended Resources

Risk of cryptocurrency lending

Product Recommendations

We recommend

Societal Recommendation