Blockfi is one of the well-known platforms that allow users to enjoy various services. Withdrawal of money from the platform is another such service that you can enjoy as a trader. Well, you must be wondering how to withdraw money from Blockfi? If you are looking forward to an answer to this question, here is a post that will help you understand how to withdraw money from Blockfi.
Blockfi is among the popular platforms. The platform allows you one free crypto withdrawal and one free Stablecoin withdrawal per month. So, if you use that withdrawal, you need to pay certain fees to withdraw again. You need to pay different fees for the withdrawal of different coins. Thus, the platform also involves a minimum withdrawal amount.
The answer to this question of how to withdraw money from Blockfi is simple. You have to make a request for the partial or complete withdrawal of money from Blockfi. For this, you need to follow certain steps. The process may take some time to initiate so, be ready for that. Excited to get more information? If yes, keep reading the post to know how to withdraw money from Blockfi.
This post will reveal all the necessary information related to how to withdraw money from Blockfi. It is recommended that you must read the post till the very end to clarify all your doubts regarding how to withdraw money from Blockfi. We will begin by discussing the Blockfi platform first and then move to withdrawing money from Blockfi. Happy reading! So, let us jump straight into the article and find out how to withdraw money from Blockfi.
What Is Blockfi?
Blockfi crypto platform offers trading accounts, cryptocurrency-backed loans, and much more. It is a crypto exchange and a wallet. The platform is used by various users worldwide to trade and store cryptocurrency. You can earn a high-interest rate on your deposits and pay lower interest rates on loans on this platform. However, these rates may change quickly as per the market conditions.
It can be one of the best options for crypto trading. You don’t need any minimum deposits or monthly fees for trading. Users can easily buy or sell cryptocurrencies using the Blockfi platform. Your crypto holdings with Blockfi can also be used as collateral to secure low-rate loans. The Blockfi platform provides various features to its users like automatic trading, cryptocurrency rewards credit cards, and more. As we have got enough details about the platform, let us now find out the pros and cons of Blockfi.
What Are The Pros And Cons Of Blockfi?
Blockfi platform has numerous features for its users. Let us see what are the advantages and disadvantages of using Blockfi.
- Allows instant trades.
- No requirement for commission fees.
- No requirement for minimum deposits or monthly fees.
- US-based and regulated.
- Available worldwide except for watch-listed or sanctioned countries.
- Allows users to earn interest on Bitcoin.
- Free withdrawal from interest accounts is limited.
- The volatility of loan rate and APY.
- No custodial or joint accounts.
- Savings are not protected against bank failure.
- The website is not easy to navigate.
- Limited services in some states.
As we have discussed the pros and cons of choosing the Blockfi platform, let us find out how to withdraw money from Blockfi on the web or a mobile device.
How To Withdraw Money From Blockfi From Web?
Let us walk through the steps that are needed to be followed to withdraw money from Blockfi.
Wallet > Stablecoin > Bank Account > ACH > Amount > Confirm.
As we have shown the short steps, let us check these steps in detail.
- Go to the Wallet tab.
- Choose and select the Stablecoin you want to withdraw from Blockfi.
- Choose a Bank Account for the destination.
- Select via ACH for Bank transfer.
- Select the Linked bank account.
- Type the Amount you wish to withdraw.
- Press Confirm to withdraw money.
The transaction will be processed soon and you can withdraw your money from Blockfi in some time. Let us see how to withdraw money from Blockfi using a mobile device.
How To Withdraw Money From Blockfi From Your Mobile?
Withdrawing money from Blockfi using the web or mobile is similar. You just need to follow some steps to withdraw money from Blockfi using your mobile phone. Let us check out these steps.
Login > Wallet > Stablecoin > ACH > Bank Account > Amount > Confirm.
These were the short steps. Here is a detailed overview of these steps.
- Log in to the application by typing your password.
- Press Wallet.
- Choose and select the Stablecoin you want to withdraw from the available balances.
- Select ACH for bank transfer.
- Choose your preferred Bank Account.
- Type the Amount you wish to withdraw from Blockfi.
- Press Confirm.
The transaction may take some time to complete the process.
We hope you have got an answer to how to withdraw money from Blockfi. This post has all the important information related to withdrawing money from Blockfi. We have provided you with the details of withdrawing money using the web or mobile.
Try withdrawing funds or money from Blockfi by following the steps we have mentioned above. If you are still left with any doubts or queries, you can ask us by commenting below. We will help you find a solution to all your queries shortly. Share the article with your friends and help them to know how to withdraw money from Blockfi.
Frequently Asked Questions
Q1. Can I Withdraw From Blockfi Immediately?
A. No, you need to wait for some time to withdraw from Blockfi. The withdrawal process may be initiated Immediately by Blockfi, but you need to wait for some time after you submit the withdrawal request to process the withdrawal.
Q2. Can You Withdraw From BBlockfi To Bank Account?
A. Yes, Blockfi allows you to withdraw from its platform to a bank account.
Q3. Why Does It Take So Long To Withdraw From Blockfi?
A. Some withdrawals may trigger additional withdrawal verification, so it may take some time to withdraw. This security process is for protecting users against fraudulent requests.