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⚠️DOUBTFUL BlockFi Reviews: SCAM or LEGIT?

5.00 star(s)
3 Rating - Raters

Joaquin99

Bronze Member
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Joined
Oct 20, 2019
Messages
75
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Location
Argentina
Website
app.blockfi.com
BMF Points
$2,088
Rating - 0%
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To win the $10 successfully you must follow these steps (sorry for double-post)
- The referred account must maintain a >=$100 balance until 10/31/19 at 23:59:59 UTC,
- For example, Deposit crypto on 10/16/19 and maintain >= $100 balance until 10/31/19, then you would receive the $10 in BTC bonus with your October interest statement.
- You must USE the referral link in this thread, the promotion terms indicate that.


Happy Benefits!
 
3rd Payment.
1622556741316.png
 
#14 payment from this high paying crypto interest, borrow crypto against USD loan and trading site and mobile app. Get 4% APY on $BTC, 4% on $ETH, 4.5% on $LTC, 3% on $LINK, 3.75 on $UNI, 3.65% on $BAT, 2% on $PAXG, 7.5% on $USDT, 8.5% on $DAI and 7.5% on $PAX, $USDC, $BUSD and $GUSD. When you sign-up and deposit $100 worth of crypto you will get $10 for free. Get a bitcoin rewards credit card (earn 1.5% back in bitcoin on every purchase you make) with BlockFi if you live in the US.

News: $UNI, $BAT and $DAI added.

You can join the site here: https://blockfi.com/

2021-07-01.png


Good earnings :)
 
#15 payment from this high paying crypto interest, borrow crypto against USD loan and trading site and mobile app. Get 4% APY on $BTC, 4% on $ETH, 4.5% on $LTC, 3% on $LINK, 3.75 on $UNI, 3.65% on $BAT, 2% on $PAXG, 7.5% on $USDT, 8.5% on $DAI and 7.5% on $PAX, $USDC, $BUSD and $GUSD. When you sign-up and deposit $100 worth of crypto you will get $10 for free. Get a bitcoin rewards credit card (earn 1.5% back in bitcoin on every purchase you make) with BlockFi if you live in the US.

You can join the site here: https://blockfi.com/

2021-08-03 (2).png


Good earnings :)
 
Of course, this service is not a scam, but an established lending platform. However, I would take a closer look at a crypto loans platform with more attractive conditions, which already has good partnerships and has already established itself in the market.
 
#16 payment from this high paying crypto interest, borrow crypto against USD loan and trading site and mobile app. Get from 4.5% APY on $BTC, 5% on $ETH, 4.75% on $LTC, 3.5% on $LINK, 3.25% on $UNI, 3.25% on $BAT, 3.25% on $PAXG, 8% on $USDT, 8% on $DAI and 8% on $PAX, $USDC, $BUSD and $GUSD. When you sign-up and deposit $100 worth of crypto you will get $10 for free. Get a bitcoin rewards credit card (earn 1.5% back in bitcoin on every purchase you make) with BlockFi if you live in the US.

You can join the site here: https://blockfi.com/


2021-09-02 (1).png


Good earnings :)
 
#17 payment from this high paying crypto interest, borrow crypto against USD loan and trading site and mobile app. Get from 4.5% APY on $BTC, 5% on $ETH, 4.75% on $LTC, 3.5% on $LINK, 3.25% on $UNI, 3.25% on $BAT, 3.25% on $PAXG, 8.25% on $USDT, 8.25% on $DAI and 8.25% on $PAX, $USDC, $BUSD and $GUSD. When you sign-up and deposit $100 worth of crypto you will get $10 for free. Get a bitcoin rewards credit card (earn 1.5% back in bitcoin on every purchase you make) with BlockFi if you live in the US.

You can join the site here: https://blockfi.com/

2021-10-09 (2).png


Good earnings :)
 
#17 payment from this high paying crypto interest, borrow crypto against USD loan and trading site and mobile app. Get from 4.5% APY on $BTC, 5% on $ETH, 4.75% on $LTC, 3.5% on $LINK, 3.25% on $UNI, 3.25% on $BAT, 3.25% on $PAXG, 8.25% on $USDT, 8.25% on $DAI and 8.25% on $PAX, $USDC, $BUSD and $GUSD. When you sign-up and deposit $100 worth of crypto you will get $10 for free. Get a bitcoin rewards credit card (earn 1.5% back in bitcoin on every purchase you make) with BlockFi if you live in the US.

You can join the site here: https://blockfi.com/

View attachment 187346

Good earnings :)
whats your total there to get this amount?
 
#18 payment from this high paying crypto interest, borrow crypto against USD loan and trading site and mobile app. Get from 4.5% APY on $BTC, 5% on $ETH, 4.75% on $LTC, 3.5% on $LINK, 3.25% on $UNI, 3.25% on $BAT, 3.25% on $PAXG, 9.5% on $USDT, 9% on $DAI and 9% on $PAX, $USDC, $BUSD and $GUSD. When you sign-up and deposit $100 worth of crypto you will get $10 for free. Get a bitcoin rewards credit card (earn 1.5% back in bitcoin on every purchase you make) with BlockFi if you live in the US.

You can join the site here: https://blockfi.com/

Skærmbillede 2021-11-06 154016.png


Good earnings :)
 
#20 payment from this high paying crypto interest, borrow crypto against USD loan and trading site and mobile app. Get from 4.5% APY on $BTC, 5% on $ETH, 3.5% on $LTC, 3.5% on $LINK, 3.25% on $UNI, 1% on $BAT, 3.25% on $PAXG, 9.5% on $USDT, 9% on $DAI and 9% on $PAX, $USDC, $BUSD and $GUSD. When you sign-up and deposit $100 worth of crypto you will get $10 for free. Get a bitcoin rewards credit card (earn 1.5% back in bitcoin on every purchase you make) with BlockFi if you live in the US.

You can join the site here: https://blockfi.com/

Skærmbillede 2022-01-06 145703.png


Good earnings :)
 
#21 payment from this high paying crypto interest, borrow crypto against USD loan and trading site and mobile app. Get from 4.5% APY on $BTC, 5% on $ETH, 3.5% on $LTC, 3.5% on $LINK, 3.25% on $UNI, 1% on $BAT, 3.25% on $PAXG, 9.25% on $USDT, 8.75% on $DAI and 8.75% on $PAX, $USDC, $BUSD and $GUSD. When you sign-up and deposit $100 worth of crypto you will get $10 for free. Get a bitcoin rewards credit card (earn 1.5% back in bitcoin on every purchase you make) with BlockFi if you live in the US.

You can join the site here: https://blockfi.com/

Skærmbillede 2022-02-06 175931.png


Good earnings :)
 
#22 payment from this high paying crypto interest, borrow crypto against USD loan and trading site and mobile app. Get from 4.5% APY on $BTC and $BCH, 5% on $ETH and $SOL, 5.5% on $ADA, 9.5% on $DOT, 10% on $AVAX, 2% on $DOGE and $FIL, 11% on $MATIC, 3.5% on $LTC, 2.5% on $LINK and $ALGO, 3.25% on $UNI, 1% on $BAT, 7% on $ATOM, 3.25% on $PAXG, 8% on $USDT, 8.75% on $DAI and 8% on $PAX, $USDC, $BUSD and $GUSD. When you sign-up and deposit $100 worth of crypto you will get $10 for free. Get a bitcoin rewards credit card (earn 1.5% back in bitcoin on every purchase you make) with BlockFi if you live in the US.

You can join the site here: https://blockfi.com/

Skærmbillede 2022-03-03 200026.png


Good earnings :)
 
#23 payment from this high paying crypto interest, borrow crypto against USD loan and trading site and mobile app. Get from 4% APY on $BTC and $BCH, 4% on $ETH and $SOL, 5.5% on $ADA, 9.5% on $DOT, 10% on $AVAX, 2% on $DOGE and $FIL, 11% on $MATIC, 3.5% on $LTC, 2.5% on $LINK and $ALGO, 3.25% on $UNI, 1% on $BAT, 7% on $ATOM, 3.25% on $PAXG, 8% on $USDT, 8.75% on $DAI and 8% on $PAX, $USDC, $BUSD and $GUSD. When you sign-up and deposit $100 worth of crypto you will get $10 for free. Get a bitcoin rewards credit card (earn 1.5% back in bitcoin on every purchase you make) with BlockFi if you live in the US.

You can join the site here: https://blockfi.com/

Skærmbillede 2022-04-01 160314.png


Good earnings :)
 
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 is locked and they also refuse a refund to the source bank account.
Also, I don't know how legal it is for them to hold the money for an indefinite period of time without offering any refund option. Via their Terms page, a situation like this is not clearly specified. I cannot find information about what happens to a blocked account, or any information that specifies that there may be the possibility for a court order to get the money back. But it says clearly that to allow you to place trading positions on their platform, you need to be checked beforehand. Their only argument for keeping my money locked up is that they couldn't verify me. As I said above I have been checked several times. And if they couldn't verify me, how could I repeatedly deposit money and buy Cryptocurrency?????? It makes no sense, right?

By the way: Check on this (based on their Terms): "Please note that no technology can be considered completely secure or impenetrable and internet protocols and other public and/or proprietary technology used or accessed by the Online Platform may be vulnerable to exploitation or compromise by persons engaged in hacking or criminal conduct. Subject to applicable law, BlockFi shall have no liability to you for any such exploitation or criminal conduct by third parties" - That means they won't take any responsibility if a hack occurs in their system. If a hacker manages to access BlockFi's platform, forget about your money...
 
BlockFi is in troubled waters for some time, recently it fired neatly 18% of its staff to cut the cost, market downturn has made it financially weak, on the other hand, the State of Iowa fined it nearly 1 million dollars, which it has to pay in 5 installments, in some other states too there is case filed against BlockFi for selling unregistered securities.
 
Update

Growing crypto exchange firm FTX is all set to acquire Block Fi, the company was already in trouble, and was taking loan from FTX.

CEO of BlockFi Zac Prince has already signed an agreement with FTX for option, this was pact of deal to receive the resolving loan.

Screenshot_20220702-221527_Twitter.jpg
 
I am not sure what is going to be future of Blockfi as it is still under debt, but our friend @Stoffy is still withdrawing to blockfi for example this withdraw from faucetpay.

This site might stop withdrawal any time, just like others did. Stoffy, are you still sure with Blockfi?
 

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