BlockFiReviews of blockfi.com

Edit: We spoke to soon. BlockFi later filed Bankruptcy and kept our money and coin. ------------------------ BlockFi ended our long search for a good cryptocurrency firm, which offers reasonable customer support and now realize BlockFi is best. The search turned serious fast what with stunning news both the CFO and CRO of Celsius.Network arrested by Police in Israel on fraud, money laundering and sex charges. The Celsius CEO Alex M is alleged to have close ties to the 2 top officials well before they were hired by Celsius Network, making clients like myself disturbed and worried. After opening new accounts (very small and low funds) we discovered support was deplorable at 7 of the major crypto exchanges. One exchange took longer than 4-mos to respond to tickets. Others were also bad with no phone support (but BlockFi does). The other exchanges also seemed to hide the idendity of the CEO and officers, even the address of some exchanges was not easy to find. It's most welcome how BlockFi is so open, with their top-12 executives named and pictured on Blockfi.com site. IMO, it's worth it to deal with a reliable place who cares so much for customer support and worth a little lower APY or possibly higher fees and not a lot of coins to trade, which shortage of coins is a significant negative issue, which BlockFi can deal with by hopefully offering more. P.S. As far as I know the BlockFi bitcoin rewards CREDIT card is the only one out there. It's suprising the major credit card firms do not offer such a card and crypto exchanges only offer debit cards when credit cards have nice advantages vs debit.

Deposited 1500€ 2 months ago via wire. Never arrived

Never ever use BlockFi for anything. Crypto withdrawal takes more than a day, which is insane and it looks shady. When you ask why does it takes so long, they'll slap you with "it's to protect our clients" and "it's just a process".

Absolutely awful company. Today, BlockFi informed users that they would no longer offer free withdrawals on the Ethereum ecosystem. BlockFi intentionally did this right before the thanksgiving holiday, with only 7 days to go before this change goes into effect. Customers who have already used their one free withdrawal this month are essentially blindsided, and their crypto is now trapped, unable to be moved without fees. This intentional disrespect of the customer shows what a scummy company they are. They might as well be saying "F you" to the little guys who have made a hundred bucks in interest this year. Now ETH withdrawals will cost over 60$ USD, which is 3X the average current ETH gas fee cost of 20$ USD. Do not use this company. They are exploitative, money-hungry, and don't give a damn about their customers.

Blockfi are bloody crooks Very Slow withdrawals, takes days High fees Low rates paid on crypto

US state authorities have opened a new front in the regulatory crackdown on the cryptocurrency business, taking aim at BlockFi, a company that has raised $14.7bn by offering interest-bearing crypto accounts. In recent days Texas, New Jersey and Alabama have alleged the accounts amounted to an unregistered offering of securities. New Jersey ordered the company to stop offering the product from July 29, and the other US states threatened to take similar steps unless BlockFi could dissuade them. “Our rules are simple: if you sell securities in New Jersey, you need to comply with New Jersey’s securities laws,” Andrew Bruck, the state’s acting attorney-general, said on Tuesday. “No one gets a free pass simply because they’re operating in the fast-evolving cryptocurrency market.” New Jersey-based BlockFi said in a tweet its interest-bearing account “is not a security” and believed it was “lawful and appropriate for crypto market participants”. It added: “We remain steadfast in our commitment to fight for consumers’ rights to earn interest on their crypto assets.” The regulatory flurry at the state level was particularly significant because it came as national authorities in Washington have been scrambling to formulate rules for cryptocurrencies. There are real bipartisan concerns about investor protection Alexis Goldstein, Open Markets Institute Political observers noted that until July 16, the New Jersey attorney-general’s office had been headed by Gurbir Grewal, who has left the elected post to run the enforcement division of the Securities and Exchange Commission, making him a key figure in the emerging federal response to crypto. The other intriguing aspect of the BlockFi clampdown was that it involved states on either side of the US political divide. New Jersey is a blue state. Alabama and Texas are red. Bipartisanship on cryptocurrencies, at least on some level, seemed a possibility. “It is an unusual group of states,” said Alexis Goldstein, director of financial policy at the Open Markets Institute in Washington, adding: “There are real bipartisan concerns about investor protection.” BlockFi received a $3bn valuation in March from investors including Bain Capital Ventures and Tiger Global Management and is reportedly seeking funds at a valuation as high as almost $4.8bn. The company said in March it was on track to produce more than $500m in yearly revenue. The state regulators said BlockFi offered an “attractive” annual interest rate — of up to 8.6 per cent, according to the Texas filing — in return for deposits of cryptocurrencies such as bitcoin and ethereum in its BlockFi Interest Account, or BIA. As of March 31, the deposits amounted to “the equivalent of $14.7bn”, according to the New Jersey authorities. BlockFi “then pools these cryptocurrencies together to fund its lending operations and proprietary trading”, the New Jersey filing said. It added that “BlockFi is free to use those assets as it sees fit, including commingling cryptocurrency with those of other BIA investors”.

Después de muchos intentos no pude verificar mi cuenta.

Have been trying for over a month to set up my business account so I can use BlockFi. It has been very slow frustrating process. Still waiting! I guess I will just have to use other services to invest in the crypto space.