BlockFi is a peer-to-peer lending application, which lets you earn interest from people who want to borrow money from you without using a bank account. It's an easy way to make money borrowing nothing but other people's sweat equity! The BlockFi network is similar to the mesh networking systems used in telecommunication, except that instead of connecting to the Internet, you connect to each other in the form of a mesh network. When you are connected to each other, you can send and receive data at the rate of your connection speed-which is about 6 megabits per second, or about six hundred bits per second.
Similar to the process through which mobile apps earn interests from buyers using their platforms, the BlockFi system allows users to earn interests from individuals who want to borrow cash. This works through the use of a mobile app, which allows you to transfer funds from one place to another through peer to peer transfers, just like with the transfer of funds through PayPal. A good example of a BlockFi application might be a local restaurant in your community who wants to accept mobile payments and then use a mobile app to let customers pay using their Bluetooth devices. By making use of the BlockFi service, you can have your local business to accept payment through the use of the app, which then sends the payment details wirelessly to the BlockFi provider. This means that you don't even need to have a website or a blog to get started earning interests and earning profits through peer to peer lending.
Another great way that BlockFi can benefit you is by turning it into a system for earning rewards credit card rewards. Since the application works just like the mobile app, you can simply take your trades, which would include your interest earned, and transfer them to your rewards credit card in order to enjoy instant rewards credit card buys. Some examples of potential rewards credit card buys in this case could be things like free fuel, hotel stays, air travel rewards, or even electronics.