They are hiding they’re illiquid. I've already got my money out and this is my advice:
Be smart, do not risk your whole bag for a few days of 5% APY. Withdraw your crypto TODAY, because they’re practically locking them until Tuesday when it will likely be too late or they’ll come up with another excuse to keep them.
Response from BlockFiJun 16, 2022
All products and services at BlockFi continue to operate normally, including loans, interest earning, trading, credit card and deposits / withdrawals. We have zero stETH exposure and exited the principal positions we had in GBTC last fall.
JN
Jack N.
All gone... Still gone
In November of 2021 BlockFi "froze" my account and I have not had access to this day. They do not respond to ANY requests for info. and went as far as blocking my phone. Guess my funds are gone forever. Do not just walk away from this company... RUN ! Update 6-7-22, I'm now told to contact customer service, I tried again, and they still block my incoming calls... it's a scam, never mind there high fees the main way they generate income is by taking permanent possession of your money.
Response from BlockFiJun 7, 2022
Hi Jack, BlockFi does not freeze or block accounts without reason. Please reach out to our Client Service team for clarification. blockfi.com/contact
PA
Passerby
VERY expensive withdrawal
I noticed that the withdrawal fee for many cryptocurrencies are about $50 USD, such as GUSD, PAX, USDT, USDC. It's free to add money but withdrawals are way too expensive. Fiat minimum withdrawal is also $10,000 which is too high and the advertising on their website does not mention all this. Not great, especially when the minimum deposit is just $100. This was not detailed very clearly when we signed up, so you need to be careful. Even free withdrawals have some form of transaction fee tied to them, even though I've not initiated any other transactions in that calendar month.
Response from BlockFiMay 26, 2022
Hi there,
Clients are eligible for one free crypto withdrawal per calendar month for one of the following cryptos BTC, LTC, GUSD, USDC, BUSD, PAX, DAI, USDT. In our Help Center you can find all of our withdrawal minimums such as wires here https://help.blockfi.com/hc/en-us/articles/4416351409940-Requesting-a-Withdrawal-Wire-.
As always, you can reach out to our support team and they will be happy to provide more clarification to this issue -> blockfi.com/contact
DK
David K.
not very trustworthy
signed up with a code from a friend where we both should get 40$. He got his 40$ but i never received anything. Support cant help because they tell i did not use the right code but my friend got his bonus.
Never again
Response from BlockFiMay 20, 2022
Hi David! Thank you for taking the time to write this review. We sincerely apologize for any frustration you experienced during our refer-a-friend promo. We would love an opportunity to assess why your friend received their referral bonus when you did not. As always, you can reach out to our support team and they will be happy to provide more clarification and resolution to this issue -> blockfi.com/contact
MI
Michela
Non ho ricevuto il bonus di benvenuto…
Non ho ricevuto il bonus di benvenuto di 40 $ dopo la mia iscrizione a febbraio. Il supporto sostiene di non poter far nulla dato la promozione è scaduta. All'iscrizione avevo controllato più volte che tutto fosse inserito correttamente, per cui trovo davvero scorretto l'accaduto.
Response from BlockFiMay 5, 2022
Ciao, Michela,
Puoi leggere i termini e le condizioni della promozione Segnala un amico sulla nostra pagina qui https://blockfi.com/refer-a-friend/. Se non hai rispettato tutti i termini della promozione non saresti stato pagato. Ci scusiamo per gli eventuali disagi.
DG
Donato G.
Non c'è nessuna serietà
Non c'è nessuna serietà, non ti danno i bonus inventando delle scuse e quando fai prelievo devi aspettare dei giorni sperando che ti arrivano, peggio di una banca. Ho visto molti che sono rimasti incastrati con somme grosse, diffidate di questi.
Response from BlockFiApr 22, 2022
Ciao Donato,
Se devi ancora essere pagato per una promozione, puoi assicurarti di aver soddisfatto i termini della promozione. Se non sei ancora sicuro, qualcuno del nostro team può esaminarlo per te. Puoi inviare un ticket seguendo questo link https://blockfi.ada.support/chat
Per quanto riguarda i prelievi, stiamo lavorando attivamente per trovare modi per aumentare la velocità dei prelievi rimanendo allo stesso tempo sicuri al fine di proteggere i nostri clienti. La maggior parte dei prelievi viene elaborata il giorno lavorativo successivo alla cancellazione di eventuali blocchi di sicurezza. Questo protocollo di sicurezza è in atto a vantaggio dei clienti per proteggere le tue risorse e garantire che vengano restituite in modo sicuro e corretto al tuo portafoglio esatto. Sebbene riconosciamo che ciò potrebbe causare un leggero inconveniente, dobbiamo trovare un equilibrio tra velocità e sicurezza. Siamo costantemente alla ricerca di modi per migliorare la nostra piattaforma e le offerte di servizi e il tuo feedback gioca un ruolo importante in questo processo.
CA
Carlos
Cuidado al depositar tus criptomonedas, pueden estafar y quedarse con ellas
Puse el código de una billetera mía de blockfi (de diferente moneda, pero existente en la plataforma) desde binance para enviar una criptomoneda. Al no coincidir, la transferencia se realizó, pero no me llegó nada a mi cuenta. Contacté con el servicio técnico y se desentendieron diciendo que el dinero se había perdido por la red... Realmente las criptomonedas deben estar en mi billetera pero no puedo acceder a ellas. Desde el soporte técnico de block fi existe la opción de ofrecerme el código de mi billetera para poder acceder a ella y recuperar las criptomonedas, pero según ellos dicen que "esa opción no se encuentra dentro de su hoja de ruta..." Realmente son unos estafadores.
Response from BlockFiApr 15, 2022
¡Hola Carlos! Gracias por la evaluación y lamentamos escuchar acerca de su experiencia. Desafortunadamente, si envió un activo que BlockFi no admite o nuestro custodio no admite, es muy probable que estos activos se pierdan y no se puedan recuperar. Tenga mucho cuidado al enviar transacciones criptográficas, ya que no se pueden deshacer ni revertir. En caso de duda, le recomendamos encarecidamente que comience con una transacción de prueba y confirme que los activos llegaron a su cuenta antes de enviar una cantidad mayor.
SM
Serhii M.
Very bad
Very bad.
I wanted to test the platform before starting to use it.
So I registered an account and completed identity verification right away.
I topped up my account with 1 LTC, moved it in and out between interest account and wallet balance, and submitted a withdrawal request. When I checked a pending request status, I saw that my withdrawal was scheduled for 3 days. Wow, I thought. 3 days to process a simple transaction for 1 LTC, but ok. So I left it.
In 6 days, I checked my account, and the withdrawal was still pending. I haven't received any letters from them, nothing. So I created a support request.
In a few hours, I got a reply from them that for a "security reasons" and "suspicious account activity" I needed to confirm my identity. Again.
So that's very weird. They consider depositing and then withdrawing coins on the same day as "suspicious account activity"... Looks like a scam, tbh...
Well, I have submitted an identity verification once again. We'll see if I get my coins back. I'll update my review here.
UDP: 9 days later I have finally received my coins back. Well, 9 days for $100 withdrawal that's nonsense for a crypto platform. It took them 3 more days to process the withdrawal after I submitted an identity verification once again. And only after I submitted one more support request.
Deleting, not recommended at all.
Response from BlockFiApr 12, 2022
Hi there! Thank you for taking the time to write this review and provide some feedback. We truly apologize for any inconveniences you've experienced with BlockFi.
While funds deposited via ACH must be held on the platform for 5 days before withdrawing in order to give these funds time to clear from your bank, wallet-to-wallet transfers into BlockFi have no such holds.
In regards to withdrawals, most are processed on the next business day, but our teams are always looking for ways to increase speeds while also balancing security protocols for our clients.