BlockFi is a platform that allows users to earn interest and take out loans using cryptocurrency as collateral. Users can deposit various types of cryptocurrencies like Bitcoin and Ethereum into their BlockFi account and earn interest on their holdings. The interest rates offered by BlockFi are typically higher than traditional bank accounts, making it an attractive option for individuals looking to earn a return on their cryptocurrency investments.

In addition to earning interest, users can also take out loans using their cryptocurrency as collateral. This can be useful for individuals who need access to cash but do not want to sell their cryptocurrency holdings. BlockFi provides users with the ability to borrow funds against their cryptocurrency at competitive interest rates.

Overall, BlockFi provides a simple and convenient way for individuals to earn interest on their cryptocurrency holdings and access liquidity through loans without needing to sell their assets. It has gained popularity in the cryptocurrency space as a way to earn passive income on digital assets.