CardyrReviews of getblockcard.com

Not impressed. I opened my acct and had to deposit a minimum of $10 to choose my card. I didn't want to deposit to much initially just to be safe so I deposited $43 USDC and only received $3.00 credit in my acct. That exchange rate is obviously not in line with what it should be. Looks like a scam to me. I emailed support but have received no reply as of yet.

Scam Not Sent money here i sent my money in usdt here after sent it sent ant txt and hawe 100 confirmation the support not add my money request money back and support sent me this respondet Unfortunately because this was an unsupported network

The idea behind the card is reasonably solid, but the execution is seriously flawed. The repeated data point referenced here by the BlockCard team is that “BlockCard does not control the TERN price” and it's volatile and it is described in the "how it works" page, is valid. BUT - They explicitly don't tell consumers that they have a secondary price at load time that is an off-market price, so the act of loading can cost 20-40% of the deposit value. THAT is not documented and shared/disclosed. Since they are providing the deposit service to convert other Crytpo assets to TERN - they should disclose anticipated costs of that service (especially when it is a massive portion of the deposit). What they are NOT disclosing is that there is VERY LIMITED liquidity on their internal process/market for doing this. Which if you watch the pricing on “their market”, shows 20-40% movement at each major deposit. In addition, their internal pricing: Published USD/TERN price: (HTTP Removed for post) Internal processing prices when converting [as provided directly from BlockCard] (even from a stable coin) (HTTP Removed for post) As you can see, their internal fills (when you deposit something not TERN [like BTC] and they convert it to TERN for you) is not based on the open market (but a closed market stellar price) and shows significant variance shifts from the open market – see the jagged shape. Any large deposit appears to be disrupting the market (thus the VERY jagged price profile in the chart). Which is why large deposits are missing 20-40% of the face value when finally credited. It does appear that you can game the system by off market TERN deposits – but there is so little liquidity in the asset and minimal market making, so that is not as easy as it might seem. The technology of the platform and user experience is nice. If BlockCard moved to a stable coin like USDC / Tether or a low transaction cost common coin like Litecoin or Bitcoin Cash, the card could be VERY usable. As it sits, it is ONLY usable for small transaction /load amounts. Though the load system is “legal”, it is HIGHLY misleading. Given the lack of open market visibility on the “fills” (converting other crypto to TERN), there is very little transparency on if the anticipated value to be loaded on the card before the user tries instantiating the “load”. There is really very little liquidity, and it is unclear if the company is taking an extra VIG on the transaction as is common in the Foreign Exchange market, so the obvious thought is they are taking excess value (someone is making that money). The company does not publish the prices (exchange rates) of all load transactions and the distribution of all capital flows at each card load. If they did, it would go a LONG way to clarifying if it is just an early market and they lack liquidity (and the solution will get better with time) OR if they and their vendors are taking HUGE fees. My opinion is that the solution could be a good one in the future, but the lack of market liquidity means consumers loosing significant value if they try to use the card for anything other than tiny load values. The Market Makers supporting the loads are making a ton of money and in the process the customer is getting taken advantage of on large card loads.

I tried to utilize this service and wired 0.59 ETH (280$) into it, while I understand this is going to be converted to TERN, looking at the current exchange rate it should have been around 270$. Looking at my Blockcard transaction history it also clearly states 280$ received. Also for some reason it does not provide me with a virtual card, unless I order a plastic card I have no need or usage for. Basically stay away

I’m currently trying to withdraw to an acceptable exchange and it keeps saying missing source. Or other errors Plus I should have researched more about the fees. As I think it a bit much to just to receive the physical card. I also did not know they converted my bitcoin to tern. Now my money is just sitting in my account decreasing as tern decreases. Stay away. Update. They just sent some automatic response which still doesn’t address the fact that I can’t withdraw the funds that’s in there. Even after I have followed their instructions. It’s like their preventing me from withdrawing it. I’m glad I funded the account with a very very small test amount of money.....just to see if I would like the inter workings and functionality of the company.I’m looking else were! It’s ok getblockcard you can keep the small money. It’s a shame you had to get it this way. Last update: They tried to tell trust pilot I wasn’t an authentic customer..but I showed receipts.. this company needs improvements. They have completed the task of taking all the little bitcoin i had..which they turned into tern. Officially done with get the block card, I’m keeping all my bitcoin with my new found love.

Here is my experience from today. I registered, and was prompted to deposit $10 worth of crypto. I deposit $10.23 USDC. My account is credited $8.56. Customer service was quick to respond, I’ll give them that. In summary here’s whT they said: We don’t credit you the full amount of your deposit, apparently. My deposit of 10.23 USDC somehow only buys $8.56 worth of TERN, the crypto used by the platform. Here’s a link to prices on an exchange you’ve never heard of. Here’s the deal, I’m an actuary who’s really into crypto. I don’t understand your pricing, and I don’t understand where >20% of my money just went. You just arbitrarily gave me Way less money than I deposited and didn’t explain why after I asked. Shouldn’t 10.23 USDC deposited get me at least close to $10 worth of TERN? I asked if a $10,000 BTC deposit would only be worth $8,000 or TERN, and from my understanding of their response, I’d say yes it is. So, considering they just reduce users money on deposit, I think this is a scam and I’d advise people to stay away. ————————————— Update with my response to the reply below: 1. Block card has tried about a dozen times to take this review down. Note that it’s still standing! I had to show screenshots and other details to prove my experience was real. MULTIPlE times. 2. Since posting my review, they have deleted my account and (presumably) seized the entire deposit. 3. I guess there are gas fees involved for your smart contract after the fee I had already paid to send the USDC to you? 3a. It would be nice if you disclosed this up front 3b. Your customer service did not explain this to me, even after I asked if this was a possible cause for the loss. 3c. Reviews on true pilot is not a good way to handle / resolve this situation. Given all the above, I’ll leave it to the readers to decide if they want to trust you with their crypto. Cheers, Bitcoin Brian

I opened an account and made the requested deposit to order the card. Only to understand that no card is available here in Europe. Since then I can not login anymore. No contact to customer service possible, because a login is required to open a ticket....it seems like I lost my money, better be aware and look for another provider!

This is a scam. I deposited 76.24 into the account and purchased the plastic card for 10.00. This leaves a remaining balance of 66.24. Well it didn't. Because they convert to ternio I lost 20.00 in under a minute. If that's not bad enough my total balance is 56.71 but spendable is 46. 21. Went to go make an online payment for 44.00 and blockcard rejected it twice. To make things worse. I can't even see the card details on my account because they claim I'm using a VPN, which I'm not. So all in all, I lost the entire 76.24 I deposited from the start. SCAM SCAM SCAM. You take bitcoin and give me useless ternio and I can't exchange or spend it anywhere. Should have stuck to Blockchain. Never had a problem with them. Now blockcard has breached my privacy and posted my email address in their response. Not to mention thay had trustpilot remove my review the 1st time because they claimed I was slandering them. When that failed they then claim that I didn't have an account with them so I had to send trustpilot proof that I am a customer of blockcard. Also in their new responce they state I made a transaction which I did. So I don't understand why they claim that I stated otherwise. Their ceo reached out to me trying to win me but that failed as he could not answer my basic questions. I have emails to support all my statements and now I will also report you for breaching my security. If you want to win me, you're doing a horrible job. Stop lying and fabricating information. Get back to your customers when they write you. And I'm glad I got my family and friends to stop using your service. Keep up what you are doing. Give me more to use against you.