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BitFi BTC Review 2026: CeDeFi Yield on Bitcoin and USD

BitFi BTC is a CeDeFi platform that issues bfBTC, a yield-bearing liquid staking token for Bitcoin, and bfUSD, a stablecoin with yield strategies. It holds about $91.5M in TVL, but returns depend on off-chain trading and a custodian.

AILayer

By the DappsAtlas editorial team · Updated Nov 4, 2026

DappsAtlas score

6.4/10

Mixed

Visit BitFi BTC

Our verdict on BitFi BTC

6.4/10

BitFi BTC suits Bitcoin and stablecoin holders who want managed yield through a liquid token and accept a CeDeFi trade-off. Its strengths are a clear product line, roughly $91.5M in TVL and a named institutional custodian. The main caveat is that returns come partly from off-chain trading, DefiLlama lists no audits, and the headline yields are self-reported. Read the audit report and redemption terms before depositing.

Score breakdown

How BitFi BTC scores

Security: 5.5/10
Ease of use: 7.0/10
Fees: n/a
Features: 6.5/10

Scores run from 0 to 10 and are based only on facts we could verify. Where information was missing we mark the score n/a rather than guess.

What is BitFi BTC?

BitFi BTC is a CeDeFi asset management platform. It describes itself as an on-chain platform offering sustainable returns on Bitcoin and USD deposits. Its two main products are bfBTC, a yield-bearing Bitcoin liquid staking token, and bfUSD, a stablecoin with yield strategies.

DefiLlama tracks it under Anchor BTC on the ailayer chain, with about $91.5M in TVL, down 0.5% over seven days. It has been listed since July 2024 and has no governance token or listed audits on DefiLlama.

The homepage markets institutional-grade strategies: 5-8% Bitcoin-denominated and 15-30+% stablecoin-denominated returns, with under 1% maximum drawdown and a 10+ person trading team. These are the project's own claims and the project does not verify them.

How BitFi BTC works

Users deposit Bitcoin or USD-denominated assets and receive a receipt token. bfBTC is a yield-bearing Bitcoin liquid staking token, and bfUSD is a stablecoin with selectable yield strategies. Redeeming the token returns the underlying asset.

The homepage says yield comes from two sources. CeFi yield comes from a trading team running strategies that are 90% delta-neutral and 10% tactical. DeFi yield comes from placing assets with ecosystem partners. Delta-neutral means positions are hedged so returns do not depend mainly on price direction.

Assets are described as secured by smart contracts and held by an institutional custodian, Ceffu. That mix is what CeDeFi means: on-chain tokens and DeFi access combined with centralized custody and trading.

6 features

Key features

bfBTC liquid staking

A liquid staking token for Bitcoin that the homepage says is powered by a hybrid of CeFi and DeFi strategies and aims for BTC-denominated yield.

bfUSD yield strategies

A stablecoin with customizable yield strategies. The homepage lists the Pulsar strategy (high yield, moderate risk) and the Horizon strategy (stable yield, lowest risk).

Delta-neutral allocation

The homepage describes a split of 90% delta-neutral positions for stability and 10% tactical positions for upside.

Institutional custody

Assets are said to be held by Ceffu's institutional-grade custody infrastructure alongside smart contracts.

DeFi ecosystem access

The homepage cites 20+ ecosystem partners across DeFi, wallets, chains and infrastructure, with a stated 4-15+% ecosystem APY.

Dashboard and points

The site offers a dashboard for bfBTC and bfUSD plus a points rewards program.

Pros and cons

What we like

Clear product split between bfBTC for Bitcoin holders and bfUSD for stablecoin holders.
Meaningful TVL of about $91.5M on DefiLlama, with stable week-on-week change.
Strategy design is stated: 90% delta-neutral and 10% tactical.
Named institutional custodian, Ceffu, for asset custody.
Documentation, dashboard and points program are available for users.

Watch out for

DefiLlama lists no audits for the project, and the homepage points to an audit report without naming auditors.
Yields rely partly on CeFi trading strategies and a custodian, adding counterparty risk that on-chain code cannot remove.
The performance figures on the homepage (APY ranges, drawdown) are self-reported and not independently verified.
The homepage live APY figures were blank in the scraped text, and the portfolio page snippet shows bfUSD APY of 0%, so current stablecoin yield is unclear.
No governance token is listed, so there is no stated way for users to take part in decisions.
The name is easily confused with the unrelated Bitfi hardware wallet, which can make public reporting confusing.

BitFi BTC fees

BitFi's fee schedule is not published. The homepage shows yield figures but does not state management, performance, deposit or withdrawal fees.

Users should check the documentation and the app before depositing to see how fees and any redemption terms apply. The bfUSD principal is shown with a one-year term, so lock-up conditions are worth confirming.

Is BitFi BTC safe?

The homepage states that assets are secured by smart contracts and institutional custodians, with Ceffu named for custody, and refers to audit reports by blockchain security firms. DefiLlama lists zero audits for the project, so users should read the linked audit report and confirm scope and findings themselves.

Because part of the yield comes from CeFi trading, users take on counterparty risk with the trading team and custodian, plus strategy risk if hedges fail. Public sources mention no incidents or regulatory details. The claimed under 1% drawdown is not a guarantee, and yields can change.

6 steps

How to get started with BitFi BTC

1
Read the documentation on the official BitFi site to understand bfBTC, bfUSD and the strategies.
2
Decide whether you want Bitcoin-denominated yield (bfBTC) or stablecoin yield (bfUSD, Pulsar or Horizon).
3
Check fees, lock-up terms and redemption rules in the docs before depositing.
4
Connect a wallet to the BitFi dashboard and deposit BTC or USD as described there.
5
Receive bfBTC or bfUSD and track your position and APY on the portfolio page.
6
Review the audit report and custody details, and start with a small amount.

Open BitFi BTC

Who BitFi BTC is for

BitFi BTC is for crypto holders who want yield on Bitcoin or stablecoins without running strategies themselves and who are comfortable with custodian and CeFi trading risk. It is less suited to users who want fully on-chain, trust-minimized exposure.

BitFi BTC FAQs

What is BitFi?

BitFi is a CeDeFi platform where users deposit BTC or USD and receive yield-bearing tokens: bfBTC for Bitcoin and bfUSD for stablecoins. Yields come from a mix of centralized trading strategies and DeFi opportunities.

What is bfBTC?

bfBTC is described as a native yield-bearing Bitcoin liquid staking token. Users deposit Bitcoin and receive bfBTC, which can be redeemed back to Bitcoin. A search result also says it can be minted on Core.

What yields does BitFi advertise?

The homepage claims 5-8% for Bitcoin-denominated returns and 15-30+% for stablecoin-denominated returns, plus 4-15+% ecosystem APY. These are the project's own figures. A portfolio page snippet showed a bfBTC APY of 6.62% and a bfUSD APY of 0%, so check live rates yourself.

Is BitFi safe?

Not entirely. The homepage says assets are secured by smart contracts and institutional custodians, naming Ceffu for custody, and refers to audit reports. DefiLlama lists no audits, and CeFi strategies add counterparty and trading risk. Only commit what you can afford to lose.

Which blockchains does BitFi use?

DefiLlama lists the chain as ailayer. The homepage and public reporting also mention Core for bfBTC, though DefiLlama does not list it as a chain for this project.

Is BitFi the same as the Bitfi hardware wallet?

No. The Bitfi hardware wallet that appears in public reporting is a different product. BitFi BTC, covered here, is a CeDeFi yield platform at bitfi.one.

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