BlockFi: Buy and Trade Crypto Reviews

BlockFi: Buy and Trade Crypto Reviews

Published by on 2022-04-26

BlockFi is a trusted platform to easily build and manage your crypto
portfolio Trusted by over 1 million clients in 80+ countries to build and
manage their crypto portfolio. We make building wealth through crypto simple and
approachable. Buy, sell, trade, and store the most popular digi...


Software Approval Ratings

Disapprove
53.5%

Approve
46.5%

Neutral
15.2%

Table of Contents:
1. Reviews
2. Is it Safe?
3. Is it Legit?
4. App not working?
5. Report Issue


BlockFi: Buy and Trade Crypto Reviews: 20 Reviews

By

User Interface Is Horrible and good luck withdrawing

As another user stated, the concept of Blockfi is great. Love the fact you can earn interest by them lending out your crypto (from what I understand) However, I’m frustrated there’s no way to track portfolio growth overtime. And since they lend out your crypto, you can’t connect it to a 3rd party app like Delta or Crypto pro to track it either. It’s annoying and time consuming to enter in each trade individually just to see a simple graph of my earnings. I’m continually taking screenshots of it because I can’t remember what the price of my portfolio was last time I checked. Blockfi also doesn’t even show graphs of the crypto itself. It’s unbelievable that I have to leave the app and open up Coinbase in order to look at a simple real time graph of the crypto. I’m considering switching back and just saying screw the interest just because of these two things alone. It’s such a simple fix and I don’t understand why they wouldn’t have these features. Edit: Also, withdrawing is a pain. I hate this app and am moving back over to Coinbase. I sent over the minimum amount allowed to make sure the wallet addresses were correct, which took a day to confirm. Went to withdraw the rest and now it’s trying to charge me .02 ETH (~$40) to transfer. You only get 1 free transfer per month. This app is terrible and I wouldn’t recommend to anyone. In fact, I would discourage other from using it.


By

Great App

The app is very simple and user friendly. It’s easy to quickly view your accrued interest, paid interest, and full transaction history. It’s also easy to swap between currencies because the fees are included in the list price and you don’t have to bother with limit orders or cancellation terms. I don’t think the BlockFi app is intended to be a trading platform; it’s a savings account for crypto that you can easily control and transact with through the app. If you want sophisticated trading tools, there are other platforms for that, but most (or possibly all) of those do not pay interest on holdings. Also, BlocFi’s security and customer service are second to none. They have all the security features, including 2fa and white listing. Large withdrawals also trigger additional verification, which is comforting when sending a large balance to a different wallet address. I have used their customer service to answer questions. They are very accessible, knowledgeable, and responsive.


By

Great Concept Just Needs More Features

I really like the concept of BlockFi. I think some people misunderstand what their purpose is when it comes to putting money into crypto here. The platform comes off more as a bank, not an investment account. It operates as a place to store your dollars(stablecoin) and other crypto currencies and earn passive income through their great interest rates. It just feels like an investment account since currently crypto is an investment. I could be wrong, but I don’t think the intent is to have all the fancy bells and whistles when it comes to tracking the price fluctuations of crypto. I think the app does need to become more fluid and intuitive in how it presents your data, and I would also really like their to be a Bi-weekly option for recurring deposits, as that is how I and I’m guessing many others are paid from their employers. Overall, the potential of the company is great, and I really like the simple approach they’re taking when it comes to starting out in the crypto space.


By

I love you but I expect more

Blockfi you are great. You have demonstrated your ability to be a great business, but your app is less than enjoyable. The app has improved since my last review, but I have a new complaint. I recently got the new credit card and absolutely love it. I am pumped to get sats back on my purchases. My first and biggest complaint is the payment portal. To pay my credit card I have to login to the app> open the CC window> click make payment> login in via web portal> chose payment method via bank> schedule the payment. This workflow is slow and cumbersome. The fact that I cannot make payments within the app is frustrating and having to login a second time exacerbates the frustration. Why can’t we use plaid to link our bank and make payments within the app? This process must change. I love you let’s grow together.


By

Ok App, Needs Some Work

Overall, BlockFi is an ok app, and I’m excited to get my BlockFi Credit Card. One frustration is that it seems at least once per day I have to re-login and use my Authenticator App. I get doing this periodically (around 1x/mo per device) but daily is just annoying. As a side note, push notification to the Microsoft Authenticator App (like Office 365 and others do) would be a welcome improvement for all this authentication needed. I do like the fact that is shows “Accrued Interest” and “Total Interest Paid” in USD (my Voyager App only shows the amounts of paid interest in qty of the crypto and doesn’t have a simple USD-equivalent summary). The rates are a little lower yield than Voyager (especially with holding VGX) and the number of crypto supported could definitely be improved. The fee to transfer out crypto if you only do one per month is free which is great, but if you need more than one transfer the $40 Fee even looks high compared to the high fees Voyager charges for transfer out - so it depends on the situation. For my BlockFi Account I pretty much just hold (for that reason among others). Hopefully we continue to see improvements in the app.


By

Great platform for wealth management

This is a great platform to manage wealth in a smart way. The credit card combined with interest bearing account compounds money at a nice rate. This is an A+ management team and constant improvements in the user experience is top of mind for BlockFi. The customer service is fantastic and all withdrawals so far have been seamless. This is not an app to day trade on, this is for long term saving mindset. Can’t wait to continue to supporting this company. Keep it up BlockFi, your have a great roadmap. I love your ideas in the recent survey about preferred credit card perks and a lot of questions that are primed for future updates (addition of new crypto), you are adding things at a nice good pace, keep it up!





By

Great company! App has opportunities for growth.

The app has been improving a lot recently with expanding its capability. The one thing BlockFi does really well is the customer service, they respond quickly. Both Kris and Irina and the Twitter account all have personally helped me through several different requests. I was hesitant to trust my Bitcoin with anyone besides my self, but they have been trust worthy so far. I hope they are successful moving forward. I tried Celsius and really it’s no comparison, BlockFi is much better and quicker! I have never had any issues withdrawing from BlockFi as well. They also are very transparent with ongoing public fintech concerns. Also they are better than Nexo.


By

New company with a little hic cup!

Join to see how it was and deposit $400, off the go they froze my account when I tried to send $100 to bityard to trade do you the fact I ACH money in. Don’t do that if you want to be liquid right away, had to wait a few days to get my money. Also you cannot transfer to coinbase or any other app while waiting for ACH to clear, you have to do a wire to your bank to get your money right away. You can only transfer money out using the stable coin Gemini and the fees are moderate to trade from one coin to another. Also they only have about 10 coins, hopefully they get SHIB and DOGE soon. Might I say customer service is amazing though! LETS GO BRANDON!


By

Great app but lacks features that other crypto apps provide.

I love blockfi. The issue though is that it lacks basic features that other apps provide. One of the other reviewers mentioned that you don’t have graphs to see the change overtime for their investment which I completely agree. I would like to see that too. Another feature that I would want to see is the average buying price for each of my investments and how I am doing overall (something like what gemini offers). Please make the necessary changes to the app for making it easy for your users. Would love to see Blockfi grow and do better than this🤗


By

Good app, confusing features

I like Blockfi. My only issue is the wallet thing. Why do I have to go through an extra step to move my crypto into my other account? I don’t know anyone who wants to use Blockfi for a “regular wallet.” Especially a “regular wallet” that has restrictions and delays on when you can and can’t move your own assets/money. I get not being able to instantly pull lent crypto, but stuff that’s in my own personal wallet and should technically be in my control? Maybe I’m just failing to see why I would use this wallet over any other wallet. That being said everything else seems to be pretty good. I haven’t had any other gripes with the app.


By

Great interests rates but can’t use for trading

I love that BlockFi has deep interest rates but crypto as an assets market is a fast paced market. But BlockFi has antiquated and even questionable behavior put in place 1. Transferring crypto into BlockFi takes minutes but withdrawing takes 1-2 days? Why such a irresponsible behavior. 2. Doing transaction is guaranteed way of losing money. You are forced to do transactions to stablecoin or other coins. For example Bitcoin to usd conversion not possible. The worst part is that when you sell from btc to say dai you would get x amount and when you want say immediately dai to btc is x + $200. So you loose $200 per btc. 3. I understand graphs are not there and that there are very ml limited coins but the weakest part is that with all the other limitations and rather questionable behavior BlockFi fails to deliver on the “limit” setting when doing these transactions. Due to all this, I lost worth of 1 Bitcoin and 10 ethereum today. When you want these apps to be there, BlockFi is the last one to rely on. In my opinion this is by far the worst platform to transact crypto. Bring crypto only and only if you want to be locked down. I had a big holding but I am moving out of BlockFi completely.


By

Far too slow for daily work

I have now tried adding the small amount of $5,000 to test this app. I did the same in Gemini. This second app isn’t known to be quick by anyone’s standards. I added these amounts on the same and from the same account. Gemini took about a week to process. Block Fi has taken far longer. They passed their promised to me time and then told me they now request me to verify it is actually me. This is taking even longer! This app would get a 1* if it didn’t earn the interest while the money was taking forever to transfer. Google review required also. No help from the bot or team that is supposed to help you. My earlier amount and this amount equalled $5,400 when I transferred the crypto. It is now $4,800, but why would they care?


By

Blockfi: They have taken away interest accounts! More to read!

Not only have they taken away interest accounts, but they literally steal so much of your money whenever you make a withdrawal. For example: I wanted to withdraw my ETH to another wallet so I could trade with the funds. BUT, My balance was below their min threshold. So I added the $15 bucks worth of ETH or whatever it was it get it above the min withdrawal amount. BLOCKFI then took aprox HALF in "Fees!!!" What a joke! In 2022 there are so many better options out there, that you shouldn't even consider BLOCKFI! I thought I would be one of those Diamond Hands investors and not touch my coins. But things to happen, and you never know when you may need to withdraw. DO YOU REALLY WANT TO GIVE HALF OF IT BACK TO THE EXCHANGE? I'd give them zero stars if I could! Let the Govt continue to fine them!!





By

Great App/Platform

Yea, I am not understanding the bad reviews. Personally, I love the app and Blockfi in general. The app is clean and easy to use in my opinion. It doesn’t overcrowd your screen and it allows you to get what you need done. If there was any suggestions I would give, it would be the ability to see the performance over time for the account in terms of coins. I currently have to log my transaction into Blockfolio to get that information. If blockfi were to add that within the app, it would be a game changer. Nonetheless, if you are looking to earn interest on the coins you are holding longterm you need to tap into Blockfi. Keep being great yall!


By

Best For Consumers

The SEC and state actions against BlockFi are disposable. This company has immaculate customer service and an incredible product offering. Market rates for consumer savings accounts are between 0.01% and 0.60% APY, whereas BlockFi offered 8.25% - 9.00% APY, never charged me any fees and was a joy to work with. Some bad actor like Wells Fargo has an entire department dedicated to opening fake accounts on behalf of its clients, charges lower income people MORE money to keep THEIR OWN MONEY in a Wells Fargo bank account. And yet BlockFi is who gets all the scrutiny? Absurd and disposable. State AGs and the SEC should be ashamed of themselves!!!


By

Kevin is the GOAT!!

Was very skeptical about this app at first deposited funds and immediately was locked out the following day luckily it was because my security verification of my identity was off and flagged for fraud. However Kevin made it all right we even discussed the future of crypto and mining. As well as Coinbase the top app secretly stealing biometrics without user consent he addressed all my concerns was very patient friendly and most of all helpful thank you so much bro! Good luck mining aswell to you :) will update with any issues or things I like about this app if need be.


By

No Search?

I wanted to find out if this had a specific token that I was interested in. I downloaded it and it provided maybe 7-8 tokens on the dashboard. So I started to look and see if I can find the token I wanted, but there was no search option. I happened to click on one of the tokens to get a snapshot of its current volume and stats, and it said in order to purchase I needed to make a deposit? This app is NOT user friendly. I can’t see a snapshot of a particular token without making a deposit. There’s no search option. I don’t know how many tokens are available on the app if I can’t find them. I will remove and try another platform. Please let me know when the changes are made.


By

Wallet update ruins UX

The wallet was a nice feature to add but… having to transfer in and out of it just to add cryptos to my interest account is a pain. I should be able to just click but btc on the interest account screen and it works. FYI the UI should be able to handle this even if the backend requires it go to the wallet first. Just call the add to wallet endpoint. Then once that’s done call the transfer to interest endpoint. I shouldn’t have to do it manually.


By

Great product, much improved app

Significant improvement to app. BlockFi has been a great product. A lot of the past reviews, mine included, were fairly negative due to issues with the old app (which may account for the low rating). Updating my review since the app was revamped a few months ago. Sign in process is 100x better. Instead of 3 log in screens every time you open the app, it now remembers the user and can log in with biometrics (e.g., FaceID). Tabs at the bottom are also notably more clear/user-friendly.


By

Best place to keep your crypto

I love Blockfi so much. I use the app every day to earn interest on my bitcoin. The security is great (2fa, whitelisting addresses). They have a dedicated client service team for active clients who respond to support tickets within minutes and I think they are the only crypto company with a phone number you can call and actually speak to someone. I even took out a loan against my bitcoin to buy season tickets for the new york mets. They wired the money to my bank account the same day I took the loan out. Top notch service







A better way to Contact apps


You can now contact BlockFi: Buy and Trade Crypto customer service directly
via Email using our new site - AppContacter.com

Contact BlockFi: Buy and Trade Crypto directly


Is BlockFi: Buy and Trade Crypto Safe?

Yes. BlockFi: Buy and Trade Crypto is very safe to use. This is based on our NLP (Natural language processing) analysis of over 832 User Reviews sourced from the Appstore and the appstore cumulative rating of 3.3/5 . Justuseapp Safety Score for BlockFi: Buy and Trade Crypto Is 46.5/100.



Is BlockFi: Buy and Trade Crypto Legit?

Yes. BlockFi: Buy and Trade Crypto is a totally legit app. This conclusion was arrived at by running over 832 BlockFi: Buy and Trade Crypto User Reviews through our NLP machine learning process to determine if users believe the app is legitimate or not. Based on this, Justuseapp Legitimacy Score for BlockFi: Buy and Trade Crypto Is 46.5/100.


Is BlockFi: Buy and Trade Crypto not working?

BlockFi: Buy and Trade Crypto works most of the time. If it is not working for you, we recommend you excersise some patience and retry later or Contact Support.




Reported Issues: 1 Comments

By Gregory
Apr 11 2022

Hello,
BlockFi.com locked my account with $25,000 inside, around 80 days ago, and they are not willing to process a refund. They are asking for a court order just for them to process a refund.

After seeing a bunch of info about the products BlockFi offers that seemed attractive at first glance, I decided to open an account. Within minutes the account was ready to take the money out from my bank. No photo identification required, by the way.
I started depositing money, and seemed easy compared to other services of this kind.

After a while, I thought it would be a good idea to secure some funds by processing two Crypto withdrawal requests.
I've been waiting for two days (the minimum waiting time offered for a Crypto withdrawal), but instead of processing my requests they asked me for verification via ID/Passport, photos/video using my phone..(a regular request of any CEX), but what's strange, it's that they will ask for Verification after they allow you to deposit large amounts of money, and not before, as any other service does. I wonder what would happen with your money in a strange scenario where (for some reason) you can't successfully pass the Verification.

But... that was Ok. I successfully processed the verification within minutes.
Then, surprise..... Because I had two pending withdrawal requests for two different Crypto coins, even if one of them was for a very small amount being executed just for me to understand their withdrawal process, BlockFi asked me to get Verified once again. Not a different Verification process. Just the same one I had successfully executed minutes ago.

No problem! I did it again "You're all set !".
Within minutes, I got an email notifying that my BlockFi account was locked. No explanation other than asking to read their TOS, and the following notice..... "Should you be unable to retrieve funds through your bank, you must wait 60 days from receipt of this email before requesting a manual wire withdrawal to the source bank account. Please note that we may require identity verification to process the withdrawal. Note: Any requests made to BlockFi about your account funds will be ignored until we can process a return of funds which will only be eligible after 60 days. Do not reach out to BlockFi until after this date. "

The 60 days have passed and even though I used every possible method to contact BlockFi, it doesn't seem like anyone's going to reply. (Several support tickets or by sending any kind of message using any possible form on their Help/Support pages, trying to call them using the phone number listed over their Help page, sending message via some of the previous support tickets that were used around two months ago to communicate with them..and more..

Let's not forget that a considerable amount of money is still with BlockFi, and my account is still blocked.

If that can't be called an extremely frustrating situation, I'm curious to hear another :) .

--------- UPDATE
Finally I've been contacted, being informed that they will return my money...soon.

This is definitely good news, but ... I still find myself in a "strange" situation.

Let me explain: When BlockFi locked my account they said: "At this time, we are not able to return any funds to you directly. We’d recommend that you contact your bank and request that any ACH transfers you made to your BlockFi account be canceled and reversed. Should you be unable to retrieve funds through your bank, you must wait 60 days from receipt of this email before requesting a manual wire withdrawal to the source bank account. "

I thought it would be faster to follow BlockFi's advice by asking the bank to proceed as per their instructions,but a nightmare was about to start.
Shortly after asking the bank to return transfers made by me (no scam or hack involved), they decided that something is not right, ending by closing my bank accounts. PERMANENTLY.
So BlockFi will not be able to send a Wire Transfer as it will be automatically returned.
But when they blocked my account, part of the money was in Crypto balances. I wonder what are the terms used to close my positions. Crypto coins rates have changed in the past 70 days. Maybe they will process my original withdrawal requests via crypto? Or will they accept my request to send my money to another bank account in my name? Also I wonder how they could have sent a Wire Transfer to an account that does not accept wires (if they were sent to BlockFi from a NeoBank). Not the case here, but just wonder...

--- UPDATE

BlockFi's final word is: "Any funds on the account will remain locked until BlockFi receives a court order to refund the funds"
$25,000 of my money are locked and they also refuse a refund to the source bank account





Have a Problem with BlockFi: Buy and Trade Crypto? Report Issue

Leave a comment:



Why should I report an Issue with BlockFi: Buy and Trade Crypto?

  1. Pulling issues faced by users like you is a good way to draw attention of BlockFi: Buy and Trade Crypto to your problem using the strength of crowds.
  2. We have developed a system that will try to get in touch with a company once an issue is reported and with lots of issues reported, companies will definitely listen.
  3. Importantly, customers can learn from other customers in case the issue is a common problem that has been solved before.
  4. If you are a BlockFi: Buy and Trade Crypto customer and are running into a problem, Justuseapp might not be the fastest and most effective way for you to solve the problem but at least you can warn others off using BlockFi: Buy and Trade Crypto.


Most Popular Apps in Finance

Cash App
Cash App Reviews

Read more
PayPal - Send, Shop, Manage
PayPal - Send, Shop, Manage Reviews

Read more
Crypto.com - Buy BTC,ETH,SHIB
Crypto.com - Buy BTC,ETH,SHIB Reviews

Read more
Venmo
Venmo Reviews

Read more
Coinbase: Trade BTC, ETH, SHIB
Coinbase: Trade BTC, ETH, SHIB Reviews

Read more
Zelle
Zelle Reviews

Read more
Capital One Mobile
Capital One Mobile Reviews

Read more
Chase Mobile®: Bank & Invest
Chase Mobile®: Bank & Invest Reviews

Read more
Credit Karma
Credit Karma Reviews

Read more
Coinbase Wallet
Coinbase Wallet Reviews

Read more
Truist Mobile
Truist Mobile Reviews

Read more
Bank of America Mobile Banking
Bank of America Mobile Banking Reviews

Read more
Robinhood: Investing for All
Robinhood: Investing for All Reviews

Read more
SoFi: Investing, Money, Loans
SoFi: Investing, Money, Loans Reviews

Read more
Chime – Mobile Banking
Chime – Mobile Banking Reviews

Read more