BlockFiReviews of blockfi.com

60$ to withdraw ETH!?! No thanks, Ill pass. All other similar companies have like 10$ fee. Free monthly withdrawal limited to just few coins. Interest rates going only one-way down. Avoid.

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.

I wanted to move my funds. I confirmed my identity immediately but will take 5 days! 5 days for a withdrawal is ridiculous and practically unheard of. I've been in crypto for over 5 years and nowhere takes 5 days to allow a withdrawal. This has cost me money.

On March 21st, 2022 I Barbara D. Walker wired $143,185.64 to my blockchain and they closed my account. I’m under the impression the team did this to use my funds to invest because to this day March 30, 2022 they still have not returned my funds back into my bank account. I’ve repeatedly contacted them, they are avoiding my emails. Marcus promised my funds was forthcoming within 5 business days on March 21, 2022 and nothing has happened yet. I am waiting for my funds to be returned.

They function like a bank, holding blockchain transactions on their platforms for days in the name of “security”, and only transact on weekdays. there is no security reason to hold back a transaction on the blockchain for days. They are using your assets as collateral to make loans and the making money on them. Which is fine and how they are able to offer interest bearing accounts. However the delay is BS. They are simply trying to hold your assets for as long as possible to make $ off them. While you lose control over executing trades on your terms at price points you decide. It completely defeats the purpose of blockchain, it’s security, And your autonomy to transact. People like crypto because they are sick of traditional banks, their fees and delays. There are better options out there that don’t hold your money for days then lie about the reason. To your response. No other platforms hold transactions for days when crypto is being sent from a wallet on their platform to other wallets on crypto platforms. It’s not about security. This is an excuse. It is likely do to the fact you need to unleverage the asset. Just be honest about it. Also be honest about the fact every material transaction requires this timeframe. Not the BS you have written, so customers know what to expect. This space and crypto in general is the public’s response to draconian annoying and expensive banking cost and processes. Making a platform operate just like the system we are all trying to break free from is the wrong direction. You are going to get crushed. Your customer experience sucks. Customer experience is Paramount

Great easy to use site, reasonable fees and rates.Great site for crypto gains.

I don't like that I present my work on DeFi and pay clients many times lower. I mean comparable to a regular commercial bank. They make money on client ignorance.

Worst UX experience yet. I've been using this service for a year, yet they have asked me to reverify my identity two more times. Withdrawals take more than a day and they have to approve them, which is ridiculous for crypto. Last time I sent this review it got removed because I refused to prove my identity. Focus on improving customer experience, not sweeping bad reviews under the carpet! EDIT: Appreciate your template reply but you are missing the point entirely. You are the ONLY centralized crypto product I have used to day that asks for KYC repeatedly, when it was done already! This is super painful, esp when I need to make a transaction.