Crossing my fingers
BlockFi has been great for earning interest on crypto and mostly easy to use regarding buying and trading crypto. Unfortunately, my funds are stuck in BlockFi limbo while this Chapter 11 restructuring is figured out. I would not suggest anyone download or use this app until things get straightened out or you will have a horrible first-impression regarding this platform, and I wish BlockFi (and us as customers) the best of luck in all this.
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Awful Crypto Service
I purchased several hundred dollars of Bitcoins through Blockfi. It took five days for my funds to clear my bank. Finally, Blockfi indicated that my Bitcoins were available to withdraw. I attempted to send my Bitcoins to an external address. I then received a message from Blockfi that there would be another five day hold for my Bitcoins to be transferred to my external address. Here’s what’s not good Blockfi does not have any stable coins to park your founds while your assets are held-up. Now my crypto is losing value as I wait for my assets to be unfrozen. Another issue, a company that is doing well financially is not going to hold on to your property like a starving person guarding bread crumbs. My bank cleaned the transaction with Blockfi; therefore, until my crypto hits my external wallet I consider my bitcoin stolen.
If you value your money stay far away from this service.
If you value your money stay far away from this service.
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RIP-OFF
AVOID this company at all cost. Might sound pretty on paper but they really just trick you into handing them money so they can charge you to get it back, and charge you to move it. They manipulate prices, they deceive you, and quite literally - rob you. Whatever “interest” you accumulate will be swallowed up by 40x’s that amount in fees. It’s all about them - not you. They want to sound nice on review responses like they actually care but it’s just a charade - there’s a reason why they are getting bought out by FTX and it’s not bc the business is so great. I regret giving them .01 cent and moreover regret sending them business from my family and friends. I will NEVER recommend a snake of a platform like this again - they should be ashamed of themselves for taking advantage of people the way they do. It’s disgusting.
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Response from developer
Thank you for reaching out and leaving a review. We are sorry to hear about your experience and would be happy to discuss this further with you. When you have a chance, please contact our Client Services team at blockfi_reviews@blockfi.com - our team would welcome an opportunity to address all your concerns and feedback in detail.
I hope they make it through these tough times.
I started using BlockFi at the beginning of 2021. It seemed like a trustworthy business that allowed you to earn interest on crypto. In early 2022 they took away the ability to fund the interest account due to new regulations and are now in the process of rolling out another type of yield earning account. The founders are transparent and continuously share important updates on Twitter and Reddit. It will be interesting to see whether the business survives the current bear market in which two big players have already been wiped out (Luna and 3AC). I’m debating pulling my funds out of BlockFi because of all the FUD I’m seeing online, but I believe their actions and company values will prevent a massive liquidation event or other catastrophic loss from occurring.
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Response from developer
Hi, We are sorry to hear about your experience and would be happy to discuss this further with you. When you have a chance, please contact our Client Services team at blockfi_reviews@blockfi.com - our team would welcome an opportunity to address all your concerns and feedback in detail. Thank you.
Customer Support Help
I sent a coin that wasn’t supported by the BlockFi wallet. For a while I thought that money was gone and never to be seen again. From help with the BlockFi team, my coin was returned to my previous wallet!! Thank you to the team for working hard on correcting my mistake, I really appreciate it!
Side note, unfortunate that they APY feature is locked to previous accounts. Hopefully legal can work to get this feature added back to the app.
Other than that, it’s a user friendly platform to store certain coins.
Side note, unfortunate that they APY feature is locked to previous accounts. Hopefully legal can work to get this feature added back to the app.
Other than that, it’s a user friendly platform to store certain coins.
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