BlockFi Reviews 212

BlockFi is an interesting concept. I had issues with account setup. I got emails to verify my account, but when I logged into my dashboard there as no way to verify. Email responses from the help desk eased my concern when I learned this was a bug. The platform shows promise but a maturation process will have to unfold over time.

Super responsive and clear about everything

its a good program they have with lots of rewards for your investments.

I feel BlockFi has the most secure crypto currency platform out there and appreciate the generous interest rates offered.
My drawbacks are the relatively long delays with deposits and withdrawals and it took a while to get my deposit limits increased to a suitable level.
This is an INVESTOR platform not a TRADER platform. (Traders can stick with Coinbase Pro)
All-in-all I remain happy with the platform and confident it will serve me well for many years to come.

1- Platform goes offline during high volatility. If BlockFi can't handle risk managing downside volatility without pulling the plug on its platform, it should at least disclose it.

2- Sources of return are not clear. Is BlockFi funding interest payments via new equity investments, realizing successful retail loans, or somehow making 4-6% posting collateral for savvy institutions. Why is there no clarity to the breakdown of sources of return?

3- Customer service follows up with me literally over a week after multiple calls and emails.

Some users would have literally added a couple zeros to the amount held at BlockFi if some of these matters were more clear.

Either BlockFi is an institutional quality crypto bank with adequate back office or its a fly by night crypto shop.

Service is so much better than coinbase! Also based in US so I trust more than Nexo or other exchanges.

BlockFi is a true game changer! Unlike big banks who pay nearly nothing back to the consumer, BlockFi is sharing their lending profits back to the crypto depositor by paying us high yield of interests. Thank you BlockFi!

Great system. Works well and is simple to keep track of investments

It was a good service, but the 1 free withdrawal a month its kind of a limitation. also the fees are too high, even thou they say no fees, their fees are about 1%. another thing i dont like is the limited availability of coins and not being able to buy crypto directly with ACH. Another thing is they are getting behind in rewards.

I am very pleased with my experience with Blockfi. I always choose a leader and I think your company is going to do great things in the future.

Awesome services, incredible user experience, Great team! very pleased with my experience thus far, if only they could fast track a credit card for me

Would like to see ability to place limit orders on BlockFi

Cash is trash and Crypto is King. I have a personal BlockFi account and a business BlockFi account. I love their simple interface, the daily interest accrual, and the customer service. I recommend them as my first choice to anyone who is looking to buy and hold bitcoin, ethereum, or litecoin, and I recommend BlockFi to anyone who is sick of earning 0.00001% interest on their cash accounts.

I really like the simple interface and the ability to deposit via ACH. There are supposedly no transaction fees to purchase cryptocurrency so that's great. The interest rates are slightly higher elsewhere, but overall I'm happy with BlockFi.

So far I’ve been very happy with the service. With that being said, my 5 star review is contingent on BlockFi continuing to have a very robust controls over losses from lending. They have shown they are the industry standard to date and I hope they continue to focus on this as a #1 priority in order to protect those who store their crypto at BlockFi

Just tried to join to transfer my bc n ether and it won't accept my date of birth not really a good start and doesn't really install any confidence lol if you cannae figure out your dob input then what else is unlikely to work 🤔 hi blockfi the problem occurs when you try and enter your dob and it only happens when the last digit is entered 21/09/197 is all fine soon as you put the 8 in it goes red and doesn't accept it

Ive been in the crypto industry for a couple of years now - there is no company in the industry that I trust more!

This is one of the few crypto firms that actually answers the phone when I call them. Their professionalism is unmatched as far as I am concerned.

BlockFi has always handled with transparency and speed. Even with insane volume they resolve my tickets quickly. They are honest and don't sling mud on other companies..just keep being awesome instead. Highly recommend!

BlockFi is the only company in the cryptocurrency lending industry that I would recommend, after having spent 100 hours researching 10 companies.

They do not provide the highest interest (only 3% on bitcoins compared to Nexo's 5%), but they are the only company that has both a reasonable customer service response time and which has licenses in every state.

A Federal money services business license is easy to obtain, but state licenses are expensive - $2m in Pennsylvania alone. The requirements for obtaining these licenses are grueling. Neither Celsius, Abra, or Nexo would reply to tell me their state license numbers, and if they do not have state licenses, they are operating an illegal bank in those states and could be shut down.

Many of the other reviews on this page make no sense. Some are ads for DeFi contracts, and others are low-effort posts that fail to indicate the user has knowledge that would be gained from actually being a customer.

The only other legitimate option in the lending industry is Gemini. However, Gemini limits its customers to $500,000 in deposits, provides inferior interest on ETH, and does not provide acceptable customer service.

BlockFi responded to my support ticket within 3 hours on a Sunday morning. They provide a callback option to speak with a real person. Their estimates of withdrawal times have always been exact to within five minutes, and their website, while simple, provides the information required to understand what is happening. BlockFi does not hide behind automated replies claiming they have "too many new customers" to respond to tickets. They won five new accounts from me because of that.

BlockFi is operating a bank, and every other bank I call can get someone on the phone to deal with my account questions within minutes or hours. They have figured out that if they want to succeed as a bank, they have to provide service like a bank.

Soon, Wells Fargo and Bank of America are going to show up in the cryptocurrency lending space and drive interest rates down. Take advantage of this unique period when rates are high, and there is finally a lender that is legally and safely operating.