BlockFi Promotions

How do you get $250 on BlockFi?

New users who transfer their crypto to BlockFi are eligible to receive up to $250 in bonus BTC.

The more your transfer, the more bonus you can earn. Here's how it works:

Get Up to $250 in Bonus BTC

To be eligible for this bonus, you must:

1. Open a BlockFi Interest Account and fund it during the promotional month. This is defined as the current calendar month ending at 23:59:59 UTC on the last day of the month.

2. Maintain at least a $100+ crypto balance through the 14th of the month two and a half months (2.5 months) from the month of eligibility.

3. Your bonus tier level will depend on your average daily balance maintained throughout the entire period (from month of eligibility to the 14th of the month of payout).

4. Your payout will occur by the end of the next business day.

For example, if you open an account and make a deposit during the October promotional period, you must maintain at least $100 crypto balance until end of January 14th. You'll get your bonus on January 15th.

Other BlockFi $250 Fine Print

• This offer is only available to new BlockFi clients who sign up with a specific partner referral code (like through CreditDonkey).

• There is only one bonus per client, for a maximum amount of $250.

• This must be your first ever deposit into the BlockFi Interest Account.

• Your bonus will be paid in BTC based on the prevailing market price at the time. Payout will occur on or before the second Friday of every month on a rolling basis.

• This offer cannot be combined with other BlockFi's promos, such as Refer a Friend or other Partnership promotions.

Is BlockFi Worth Using?

BlockFi is a platform that lets you trade crypto and earn interest on your coins. The BlockFi Interest Account offers a much higher APY than bank savings rates. Plus, with no trading fees and an easy-to-use interface, BlockFi is an attractive option for new investors.

However, BlockFi has limited selection of coins compared to other platforms. It supports the most popular coins like Bitcoin, Ethereum, and Litecoin, plus several stablecoins. If you're looking in invest in altcoins, BlockFi is not the best platform.

Another advantage to using BlockFi is their crypto-backed loans. If you need funds, you can borrow up to 50% of the value of your cryptos.

BlockFi Products & Services

BlockFi offers these products:

Crypto Trading
You can buy and sell several different currencies. BlockFi supports: BTC, ETH, LINK, LTC, PAXG, UNI, BAT, and several stablecoins (USDC, USDT, GUSD, BUSD, PAX, and DAI).

The platform also supports exchanging cryptocurrency pairs between BTC, ETH, LTC, PAXG, USDC, GUSD, PAX, and USDT.

BlockFi has no trading fees (only a spread when you buy and sell).

BlockFi Interest Account
Earn up to 9.00% APY on your cryptocurrency holdings. There are no minimum balance requirements to earn interest. You start earning interest as soon as your trade is placed.

Crypto Backed Loans
You can take out a loan for up to 50% of the value of your cryptos. This way, if you need cash fast, you don't need to sell off your cryptos (which can possibly make you miss out on growth and trigger a taxable event). You'll receive funds the same business day. But the minimum loan amount is $10,000 USD.

BlockFi Credit Card
The BlockFi credit card earns an unlimited 1.5% back in Bitcoin on every purchase. As an introductory offer, you earn 3.5% back in Bitcoin during your first 3 months (up to $100 in Bitcoin). There is no annual fee or foreign transaction fees.

How Much Interest Does BlockFi Pay?

The BlockFi Interest Account (BIA) pays up to 9.00% interest on your cryptos. You'll earn different interest rates based on the currency and amount. Stablecoins like USDC, USDT, GUSD, BUSD, and PAX pay higher interest rates.

The current APYs are:

Interest is compounded daily and paid at the beginning of every month.

How Long Do BlockFi Withdrawals Take?

BlockFi withdrawals take 1-2 business days. If you place a withdrawal request before 5pm EST, it will be processed the next business day. Requests placed after 5pm EST will be processed in two business days.

All withdrawals have a security hold in order to protect you against fraud. This also gives you some time to cancel your request if you entered the wrong withdrawal wallet.

You get one free crypto withdrawal every calendar month and one free stablecoin withdrawal every month. Past that, there will be a withdrawal fee.

Here are the withdrawal limits and fees:

Can You Lose Money on BlockFi?

Cryptocurrency is an extremely volatile type of investment. There is always risk that you could lose money if the value of your crypto goes down.

Plus, BlockFi is not a bank or brokerage. So it's not covered by FDIC or SIPC insurance. Digital currency is not backed by the government. Your crypto assets are not protected if BlockFi goes out of business.

Can You Buy Bitcoin on BlockFi?

Yes, BlockFi supports buying and selling Bitcoin, along with Ethereum, Litecoin, Chainlink, Uniswap, BAT, and several stablecoins.