Are you looking for BlockFi referral codes? If so, you’re in the right place! Using a BlockFi referral code from our site will give you awesome deals on your next Bitcoin purchase. But what is BlockFi, and how do you use it?
BlockFi is a platform that allows you to sell, buy, and exchange a wide range of cryptocurrencies at affordable prices. A great feature of BlockFi is that you’ll be able to earn interest from your cryptocurrency.
If you have a BlockFi interest account, your cryptocurrency could earn up to a massive 9.0% APY. This interest is then paid out in Bitcoin form.
BlockFi interest accounts accept deposits from lots of different cryptos, including Ethereum, Litecoin, Bitcoin, Gemini Dollar, Chainlink, and many more. There’s also no minimum deposit amount required with any of these cryptos, so you can begin earning interest straight away.
If you’d like to find out more about opening a BlockFi interest account and using our referral codes, read on for more information!
Use Our BlockFi Referral Code For Instant Bitcoin
To get the most out of Bitcoin and start taking advantage of the bonuses, don’t forget to use our awesome BlockFi referral code when you sign up for an account. You could even get a $250 BTC bonus!
Which Level Of BlockFi Referral Bonus Do You Recieve?
Before you jump in and use your BlockFi referral code when you sign up, be aware that not every invite code will provide the same referral bonus. Below you’ll find some information about which referral bonus you could get.
If the referrer has a BlockFi Rewards Credit Card
If the person who referred you (known as the referrer) holds a BlockFi rewards credit card, you could receive much more in bonuses. When you open a BlockFi rewards credit card, your referral bonus could be up to $40 for each referral for the first five and then jump up to $50 after that.
If the referrer is a BlockFi Referral Partner
If the referral code you use to open your BlockFi account is from a referral partner, the bonus will be the same as a rewards credit card holder. You could start off with a bonus of $40 for each referral, and then after five referrals, you could earn $50 per referral.
If the referrer is a regular BlockFi user
If you’re a regular BlockFi user, be aware that the default bonus for new and existing users is $10 in Bitcoin. The referral payments are made every second Friday of each month.
How To Use A BlockFi Referral Link
Using your BlockFi referral code is super easy; simply follow these steps below to start enjoying your BTC bonus:
- Use our unique BlockFi referral link to sign up
- Deposit at least $100 in a cryptocurrency type of your choice in your new BlockFi interest account (BIA) within 30 days. You must maintain this amount for 30 days, or the referral bonus won’t work.
You can add your BlockFi referral code during one of two times – either when you create your account or when you’re funding the account. So don’t worry if you forget to enter the referral code when you first open the account, as you’ll have another chance when you add the funds.
How To Create Your Own BlockFi Referral Link
Taking part in the BlockFi referral program is super easy. Simply log into your dashboard and click the Refer a Friend button at the top to find your unique referral code. Then you can invite friends to sign up for a new account using your URL and start enjoying your referral bonus!
Additional BlockFi Referral Link Deposit Bonus
For users who sign up with a BlockFi referral partner’s code, BlockFi offers up to a $250 bonus in Bitcoin. This referral code amount depends on how much you initially deposited into your account.
For example, to get a $250 Bitcoin bonus, a new user would have to deposit a minimum of $100,000 into their BlockFi account when they sign up. If you’re planning to deposit over $40,000 in your account, we recommend you use a BlockFi referral partner’s code.
How Does The BlockFi Credit Card Program Work?
If you’re the owner of a BlockFi rewards credit card, you’ll receive an extra $20 bonus as well as the basic $10 BlockFi referral bonus. This means $40 for each referral for the first five friends referred by you using your BlockFi referral code. After these five referrals, this amount increases to $50 per referral.
As well as these referral benefits, the BlockFi Bitcoin rewards credit card gives you 1.5% of every transaction back to you as the cardholder. Additionally, the credit card has up to a $250 sign-up bonus.
But, to be eligible for this bonus, you must spend at least $3,000 within the first three months of receiving your card. After those three months, the incentive for purchasing items using the credit card goes up to 3.5% for an extra three months. This is known as the Bitcoin rewards rate bonus.
More About BlockFi
Although BlockFi markets itself as a platform that’s “fee-free,” it does have a few fees that you’ll need to consider. But, this depends on how you want to use it. It may also be different in comparison to other crypto platforms.
What you do need to be aware of is that BlockFi is a crypto exchange platform free from commission. This means you won’t have to pay for the simple act of selling and buying crypto. The only things you’ll need to know about are the spreads. These may be anywhere between 0.7% and 1.5%.
Although BlockFi doesn’t charge commission fees, it does charge withdrawal fees. But, the fee amount will depend on the type of crypto that you use.
What can you trade?
BlockFi allows you to sell, buy, and exchange cryptocurrencies, including BTC, LTC, ETH, LINK, and many more. You can also trade USD-based stablecoins, such as USDT, GUSD, and BUSD.
With a BlockFi account, you can buy, sell, and exchange cryptocurrencies all in one place. As a BlockFi customer, you can buy crypto directly from your bank account through an ACH for as little as $20. You can also set up trading features such as repeat purchases or purchasing in bulk.
BlockFi is one of a few retail-focused crypto exchange platforms that’s regulated and domiciled in the US. It’s also institutionally backed, doesn’t rely on an investor offering, and doesn’t get funding from utility tokens. Rather, it pays stable interest rates by earning through lending products.
BlockFi also has security measures that are designed to protect your assets and make sure they’re readily available. These features include:
- It maintains reserves with third parties such as Coinbase, BitGo, and Gemini
- It purchases equities and futures regulated by SEC and CFTC – investments that the US government regulates
- It’s very careful with lending. Loans are backed with up to 50% collateral.
BlockFi supports either wire transfers or ACHs, and there’s no minimum initial deposit needed to earn interest in a BlockFi account. For wire transfers, the processing time is typically up to 3 business days, and 2-3 business days for ACH transfers in USD, although your account will be instantly credited.
BlockFi doesn’t charge any fees for wire transfers, but some banks may charge third-party fees for it. You’ll need your eight-digit PIN to make wire transfers to your account.
BlockFi’s loans are available to users in 47 US states, but the interest accounts are available worldwide, except from three states as well as countries sanctioned by the EU, UK, or USA. BlockFi’s team comprises professionals with offices in Poland, Argentina, Singapore, New Jersey, and New York.
BlockFi provides USD loans using your crypto assets as collateral. This means that BlockFi gives you USD, and in return, you give them cryptocurrency as security for the repayment. This could be Bitcoin, Litecoin, Etherum, or whichever type you’re using.
You can apply for a loan in just minutes, and you’ll be funded in GUSD, USD, or USDC straight to your bank account or wallet in just 90 minutes.
How do I sign up for a BlockFi Interest Account?
BlockFi interest accounts are easy to set up, and you can do it either on your computer or by downloading the official BlockFi app on iOS or Android. Simply follow these steps to get started:
- Select the Get Started tab
- You’ll be asked for some basic information such as your name and email address, as well as being asked to create a password.
- If you agree, check the boxes and select Submit.
- BlockFi will then send you a verification email to the email address you used.
You’ll then have to verify your email address. You can do this by clicking the link or copying the URL that’s provided in the verification email from BlockFi. When you click the link provided in the email, you’ll be taken to app.blockfi.com.
From there, you can sign back into your account using the password and email address you recently used to complete the verification process. BlockFi is also lawfully required to ask for specific information to be able to approve you to use their products.
Is BlockFi an easy platform to trade with?
Yes, BlockFi makes cryptocurrency trading easy, especially for beginner to intermediate-level traders. Since it offers ACH deposits, you don’t need a large amount of cryptocurrency to get started.
You won’t be subject to penalties for withdrawing early either, so you’ll be able to withdraw funds whenever you like without being hit by fines. They also make keeping records very easy as well. You’ll receive statements each month as you do from your bank.
These statements will tell you how much you’re holding, how much you’re expected to make in the next month, and how much you’ve earned. Previously, statements were emailed to users, but now you can have them as PDF downloads.
Is BlockFi a safe platform?
Yes, the BlockFi platform has very strict security measures that protect both the system and each user’s account. For example, the platform stores a large amount of users’ money in a cold wallet to stop huge losses in the event of hacking.
As well as that, BlockFi encourages users to use two-factor authentication to strengthen their account security. BlockFi also only employs experienced analytics to evaluate the risks associated with each users’ account. This usually happens when funds are withdrawn. On withdrawals, BlockFi has PII verification.
This verification is compulsory when performing a withdrawal, and the system can detect if something is wrong, even if you’ve completed 2FA, AML, and KYC requirements. Some things that could trigger the PII confirmation include the number of transactions, geographic location, and transaction amounts.
BlockFi continues to improve its withdrawal security using “allow listing.” Other cryptocurrency platforms call this feature “address whitelisting.”
How much will I get if someone uses my BlockFi referral code?
For each person that signs up with your BlockFi referral code and deposits at least $100 into their BlockFi account, you and that person will both get $10 in Bitcoin. After you’ve made five referrals, you’ll earn $20 for each additional referral. Your referred friends will still earn $10 in BTC after the eligible fund transfers.
Using the BlockFi referral program and earning additional referral bonuses is super easy. Sign in to your BlockFi interest account (BIA) either from your computer or through the app. If you’re using the app, go to the dashboard tab and scroll down until you see your referral link at the bottom.
If you’re using a computer, you’ll find your BlockFi referral code by your profile icon in the top right-hand corner. Keep in mind that your unique referral code is the last eight characters on the referral link, which you can share.
Lastly, remember that each referred friend must fund their account by at least $100 for both of you to be eligible for the BlockFi referral bonus.