Bakkt: Bitcoin, Rewards & More Reviews

by _Ripcord_

Bakkt has been a disaster since I downloaded it for the BTC promotion in December 2020. I’m still trying to withdraw the money I deposited on Dec 17, 2020. The first issue was it took so long for the deposit to clear, the promotion ended. They gave me $5 USD as compensation. So, deposit clears and I try to use the debit card, declined. Tried a few more times, declined every time. So frustrated, I just want to withdraw my money and be done with Bakkt. I got instructions on how to withdraw online or this app support, but the option doesn’t exist for me. I contacted this app support which has gone absolutely nowhere. All I want is for my account to be closed and my initial deposit refunded to the original form of deposit. Just reverse everything and let’s end this horrible experience. this app support says I need to send a photo of my ID along with a photo of me holding my ID. this app has enough info to accept my deposit, but now won’t close my account and refund to the original deposit source? How about sending a physical check to my residential address which you collected when I signed up. How can they require more information to withdraw than deposit? Is that legal? Seems tilted in favor of the banks. Bakkt is nothing special. A real disappointment after the high expectations from the SPAC deal. There’s no reason to use Bakkt as there are a dozen that do all the same things without the issues I’ve experienced.

by Gre Master

I did a test run by depositing $200 into Bakkt. I’ve tried several times after my money was deposited in Bakkt to deposit the funds back into my bank acct. it has been impossible. Contacted customer service and was told to wait 3-5 business days excluding the holidays/ weekends and that my funds would be available for deposit 11/8. Well it’s 11/8 and I cannot deposit the funds back into my bank acct. I’ve contacted customer service and I am being told the same thing over again. I just want my money back at this point. Be careful with this new app. It all seems like a scam at this point and to think they have an IPO.

by Veraqu

The initial process to join is broken. The test keeps failing even after it says it succeeds (Axios Error?). Contacting support multiple times with no help and no follow up. They didn’t even bother to make tickets as today they couldn’t find any under my name, number or email. Support person keep closing chat instead of helping. Wouldn’t even make a ticket till I told them I’d be letting MasterCard (their new partner) know how awful the set up is. Then they started a ticket. Refused to give to a different person or a supervisor claiming they were the only person working for the whole company today. Very doubtful. Avoid at all costs. There will be more legit companies that credit cards partner with. Or this one will get bought out and run properly and then be worth trying. Till then : RUN!

Update: after two months they respond here asking to waste more of my time 🙄. If you want to help go find the previous help tickets and actually help with them.

by Tesha_Renty7169

I sent an email and called in about this account and neither time was my problem resolved. The rep I spoke to assured me that he would send me an email to verify my identity and the matter would be handled ASAP and I have still not received that email. Im a new customer and tried Bakkt as it was a suggestion to turn rewards points from Wyndham into cash or gift cards and I thought what a nice idea since the holidays are upon us and this is by far the worst customer service I’ve ever received. If there is a way to delete my account from the database I would if I could get back in but since I can’t I reached out to Wyndham to gain access back to that account since it somehow got locked in the process and deleted Bakkt. Thankfully I didn’t add my banking info or this would be a much worse review.

by Kazim1027

So I downloaded Bakkt with the promise of $10 but the thing is you can’t even sign up. They give you a prompt to put your information to receive an email that says you are on the list but when you go to complete the steps it says you are not on the list. I understand that they are still developing but don’t release anything telling people to download Bakkt with the promise of things only for them to find out you can’t even sign up. I’m very disappointed with this because I was really looking forward to finding out what Bakkt was about.

by Pokemon Fighter

If I could give no stars I would because I have had nothing but problems since I downloaded it. First I got the email saying I had been invited for early access but when I tried signing up they kept saying my email address wasn’t on their list. After several emails and screenshots I was able to create my account. Now I haven’t been able to link my account through plaid because I keep getting error messages. I have emailed them again and all they can say is update Bakkt because the problems with the plaid error messages has been resolved....well that’s not true because my app is up to date and still having same problems.

by AngryBakktConsumer

Bakkt is a scam. They send emails with offers but do not provide information on when the offer starts, ends, when the reward is given or when they will notify you. It feels like they only want to obtain your bank account information. I downloaded Bakkt to get $10 free and then immediately deleted Bakkt . This company has a lot to learn about marketing, customer service, and how their app functions. If you need their free $10 go for it. If not, stay away....it’s not worth it! In addition, your customer service team is misinformed and extremely unhelpful. They avoid answering questions and do nothing to follow-up with consumer problems or issues. Very very disappointing.

by MaharajaMack

It’s maddening that they keep telling that features are available, but they really aren’t yet. Example: exchanging reward points for cash. They say it’s available but there are no partners in their partner list. Is it a big? Is it not ready yet? Please don’t make me wonder; this ain’t Stairway to Heaven.

I know it’s early access, but it makes for a very frustrating experience. You can tell that ICE isn’t a consumer products company.

by Myesignal

Signing up was a nightmare. I received an email that I could create an account. When I tried creating my account I received a message that my email was not on their list. After emailing support and a few days later, I was finally able to create an account.

Here are my initial thoughts on using the application the first few days. These are the features or bugs that need to be fixed, improved, or added.

Every time there is an app update you lose your login credentials. You have to recreate your PIN number and enable face ID each time.

They only have Bitcoin to buy or sell. Without alt-coins to choose from, most retail customers will simply stay away. We need other crypto currencies to trade.

They have a cash maximum daily limit of $500 for withdrawals or deposits. This needs to be increased.

I don’t see a way to convert my airline reward points. Unless I’m missing something, the rewards program is still in a beta form with limited options.

Overall, I like Bakkt but it has a long way to go before it’s ready to compete with the likes of Coinbase, Robinhood, etc.

by Lyricyani

I understand that Bakkt is still sort of in its developing phases, and that's really the only issue I have with it. Having the this app card is wonderful, especially since it will be able to be added to Apple Wallet and the like. Hopefully, it will sometime also be a physical card. Ultimately, what this apps needs to be fully realized is wider support. More connections with big box stores so that gift cards can be integrated through a scan, not just manually input numbers and balances, etc. More loyalty programs. Just more. See the beginning of something great here though, once these things begin to be rolled out.

by AkayFilms

I signed up to get early access and I thought it would take forever to be able to get the early access. But within 2 hours I had another email telling me to create my account and I did just that. They promised $10 for opening the account and the cane thru on that promise. I received my $10 to my bank within 2 days. My friend was able to redeem a $10 steak and shake gift card. Only thing I wish they had was a referral program. I told a lot of people about this about and it would be nice to receive a incentive for referring all these people. Other that that Bakkt is everything they decide it to be.

by Ballisinurcourt...

The layout of Bakkt is great, the settings tab could use some more options but not much a problem. However, I think this will exceed expectations if it were to allow trading of other cryptocurrencies, very convenient app to have things in one spot. Not gonna lie, a little nervous about how much to put in being that Bitcoin is the only crypto available for trade but looking forward to see the changes. Haven’t made any purchases yet but have made a deposit, so far it’s alright. Linking other crypto wallets might be nice as well, at the very least transferring digital assets would go very far. And definitely need to know when other crypto will be available for trade and if there is such a thing, graphs for gains and drops, it’s all part of functionality. I mean we are putting our actual money into this so tensions, I trust will be eased over the next few months.

by Tpc4545

One of the big problem with Crypto is it’s complicated, We hear all the time,that we need more people to invest, to get involved, but people are scared because it’s complicated, need to set site up so when you click on a certain parts it lights up with an explanation, that it does this, and this and that. Keep it simple . Again a lot of people want to invest but are scared of it because it complicated, Especially if your not a crypto investor.

by Aristecracy

I love Bakkt , and the concept of being able to exchange digital assets, which includes more than just crypto assets, but loyalty points and rewards programs.

That said, and I imagine things will evolve as companies across all industries facilitate the trading of these points and rewards, I was hoping I would be able to convert my many Starbucks Stars for let’s say Bitcoin or Ethereum, or even US Dollars. It will get there I have to think. Good luck, this app (very bullish on $BKKT)! :)

by Lovetogive

This is a godsend for people like me who join every reward and loyalty program I can. It helps me stay engaged with my favorite brands, remember how much value I have built up and let’s me know when new deals are available. I look forward to trying new things too like crypto and plan to buy all my gift cards here too. Thanks.

by Pranshu Tyagi

Really nice app! I’ve only had Bakkt for a week or so but I love how easy to use the format is. Question for Bakkt developers... is it possible for you guys to make a website version? I know you already have a website, but it would be so much more convenient if there were a “web app”, since it is more convenient to work on a larger screen. Thank you guys!!

by Thatoneawesomedude

The access to Bitcoin and transparency about how the service is provided is fantastic. I wish more companies were open and honest in this space!

The interface is slick and has a solid orientation for the information presented, does not feel cluttered at all.

The ability to do something with old rewards points is an innovative concept, and including unwanted gift cards is a nice touch. I’m excited to see where this app takes this concept!

by Exitman2003

Works great. Once they build out the platform with more partners (Hilton, Capital One, etc.), I’ll be able to get rid of all my unused points. Deposit time from my bank to Bakkt is slow, but I hear that’s being worked on. Bought some Bitcoin and Ether with Bakkt . Works great. Been buying my lunch with Bakkt through Apple Pay. Everything works, they just need time to onboard more partners. The idea to make all these digital assets interchangeable and spendable is a great concept.

by FinTech - DeFi - FREEDOM

This platform has the staff and funding to continue to expend on the already friendly user interface they have developed.

Pros
- Insurance for assets is stated on the website.
- Platform has formed major partnerships and started corporation integration for rewards such as Marriot and Starbucks.
- The ability to gain exposure to Bitcoin and Ethereum.
- Know your Customer (KYC) required.

Cons
- No ability to withdraw Bitcoin or Ethereum.
- No Stock options available or the ability to gift the stock to another user.
- Currently adding funds takes 2 - 3 business days into your account which is long.

Overall
- The this app application is a solid pick in the new FinTech SaaS. As the company continues to create and fine tune the platform which having experience over time is amazing. It’s fast growing in terms of quality improvements and I would recommend giving them your business.

by RamaDrama

I was able to connect my bank account, my credit card rewards and shop for gift cards and Bitcoin. The overall experience was very seamless and love the way I can see my entire portfolio of various currencies in one place. Am glad I don’t need to log into multiple places to use my rewards and this allows me to play with bitcoins as well. Looking forward to see what other features they add in future.

by CheetahMaster2

Working out some bugs still, like account balance after a buy or sell, not correct. Minor fix. I’d like to see limit orders though

by Buggy, Bad App

Bank account, loyalty programs, crypto and gift cards and virtual credit card all in one place. Bakkt is going to be a game changer.

by NicSFATL

Love the concept here, and very easy to use. Wish there would be more partners onboard.

by Prupen

Great app to see all of your rewards and crypto st one place..lot of potential in the future!!

by Vinyl James

Love being able to easily buy Bitcoin. Good selection of gift cards. Great app all around

by Pavanga

This is an awesome app. It is easy to access and link your rewards, bank accounts and crypto. Planning to use it more and more.

by Pyt17587

There’s something so satisfying about seeing all of my digital assets in one place. I didn’t realize how diverse my portfolio is until now, nor how many points I had accumulated that are spread across various places. I look forward to discovering even more features of this platform.

by ✌🏿meal

I think this can replace my Bitcoin trading app, rewards points app, and gift card deals app, all in one! Looks great, and it feels secure. Looking forward to the promised upcoming features.

by SSMLY360

I’ve been looking super forward to Bakkt coming out. This has a lot of potential and could possibly change the world. Bakkt is hands down the best. Can not wait till use the virtual card in the future.

by Carsonzyl

Even though it’s just easy access, the this app app is amazing!! I can seamlessly link all my rewards points, buy Bitcoin, and manage gift cards. I’m excited for all the new features they will implement including converting rewards points to cash and the virtual card!! Awesome app all around!!

by GeoffPate

Although it is in Early Access, the things Bakkt offers is pretty amazing. Securely buying and selling BTC is going to be a good way to get people who never thought of BTC before interested. It may not be a free for all crypto wallet/exchange but i dont think it’s aiming to be. Lots of new features are set to be added soon (the virtual card being the one im most excited for). One last thing, i cant wait to get rid of all these useless reward points and turn them into cash that aren’t worth crap from the actual company giving them to me. Keep it up guys!

by Wallacis

Loving my early access on Bakkt. Hoping for more opportunities to link dining apps.