In today’s episode, we speak to Shayne Mullen from BlockFi, which is one of the biggest crypto borrowing and lending platforms in the world and has grown tremendously over the past year.
BlockFi offers several products in the crypto space:
- Crypto lending and yield generation
- Borrowing facilities in USD, with crypto as collateral
- Crypto trading
- Credit card with crypto-denominated rewards
If you’re interested in generating yields on your crypto holdings, this episode is for you.
And if you’re a long-time hodler, you should probably also look into the possibility of obtaining a loan from BlockFi by using that crypto as collateral. This is a very efficient tax strategy as it avoids you having to sell your cryptos and thus triggering capital gains tax which can be a hefty burden and decimate your holdings.