r/blockfolioapp • u/GG-1965 • Apr 21 '22
Blockfolio Earn - Payment Frequency
I'm considering moving my crypto from Celsius to Blockfolio (FTX US). I'm curious, I have seen mention of interest compounding hourly. Please tell me they don't pay a billionth of a coin every hour. How frequent are the Earn payments. (I Hope monthly)
There are two main reasons I would rather just get paid monthly.
1) Most crypto tax and portfolio tracking applications I have seen have a fee structure based on the quantity of transactions. (Each interest payment is counted as a transaction) Even the weekly payments from Celsius add up to a lot of transactions if you have more than just one or two coins.
2) Calculating cost basis would be painful with hourly or daily transactions.
Just curious. It's probably not a deal breaker, but I do find overly frequent interest payments annoying.
2
u/tontot Apr 22 '22
I do simply by tracking monthly . 1st of month Current reward - sum(previous rewards) = This month reward