BlockFi Review – Probably, you are interested in investing in cryptocurrency. BlockFi is a platform where you can buy, sell, and trade cryptocurrencies. It offers a lot of products including cryptocurrency trading, crypto wallets, loans, an app, and a rewards card.
In this article, you will find a lot of information about this exchange platform. So read on!
BlockFi is a trading platform that offers you some of the features that banks could offer you. On BlockFi, you can trade Bitcoins, Binance, Ethereum, Litecoin and so many other digital crypto assets and make money. Furthermore, this platform also allows you to take loans.
Additionally, the platform also has good customer support. BlockFi features allow you to trade effectively in the crypto market. It could be a good choice for you to consider if a need a platform to start investing in crypto. Check out some of the features of the platform below.
Did you know that BlockFi grants loans to investors? Well, this crypto exchange platform does. BlockFi loans use the cryptocurrencies of investors as collateral. When the loan is granted to investors, the US dollars are transferred to the bank accounts directly.
BlockFi loan is a way for investors to access funds without selling their cryptocurrencies. Also, it is fast as it does not require a credit check. You can get funds on the same business day you present your collateral. When an investor repays a loan, the cryptos used as collateral is returned.
BlockFi Rewards Credit Card
BlockFi offers you more ways to earn cryptocurrency rewards in a different way from the normal trading and exchange methods used. The card does not have an annual fee or foreign transaction fee. In addition to this, the card also gives you access to travel, food, wine sporting events, shopping, and more.
With this card, you’ll have access to 1.5% back in crypto on every purchase. Crypto rewards are also paid out every month to your BlockFi account. This card is available to you if you are an individual investor in the US. Hence, you’ll need to have a trading account first to apply for the card.
The BlockFi app is a mobile feature created by the crypto exchange platform to facilitate the trading of cryptocurrencies. With this mobile application, you can buy, sell, and exchange Bitcoin, Ethereum, and other digital crypto assets.
In addition to this, with the BlockFi app, you can safeguard and manage your crypto coins with your digital wallet right from your mobile device. Hence, if you do not have this mobile app on your device, you might be missing out on the ease and efficiency of trading cryptocurrencies from your mobile device. The next heading will give you a guide on how you can install the app on your mobile device if you do not have it.
How To Install the BlockFi App on Android
Follow the steps below to download the BlockFi app on your Android
- Connect your Android to the internet.
- On your Android, locate an app launcher app downloader and click on it. You can consider using Google Play Store or other app launcher app downloaders.
- On the search bar, enter “BlockFi app” to search for it.
- When you find the BlockFi app, click on it to open it.
- Then enter the “Install” button to download it and wait for a while till it finishes downloading.
Having done that, you will be able to install the app on your Android.
How to Install the BlockFi App on iOS
Follow the steps below to download the BlockFi app on your iOS
- Connect your iOS to the internet.
- Locate an iOS downloader iOS launcher and open it when you find it.
- On the search bar, enter “BlockFi app” to search for it and click on it when you find it.
- Enter the “Install” button to download the app. Wait for a while till it finishes downloading.
When you carry out the steps above, you will be able to download the BlockFi app on your iOS.
When you trade cryptocurrencies on BlockFi, the wallet enables you to manage your crypto coins. BlockFi wallet is a free wallet where you can buy, sell, and exchange cryptocurrencies.
You can also use this wallet to trade and exchange stablecoins. Furthermore, the BlockFi wallet holds your digital keys. This includes your private and public keys which will be given to you when you open an account on the crypto exchange platform.
In addition to this, the wallet is where crypto rewards for cardholders from BlockFi Rewards Signature Visa are stored. However, to get this wallet, you first need to sign up for an account on this crypto exchange platform. Thereafter, the wallet will be generated for you and linked to your account.
BlockFi Sign Up
Signing up for an account is very necessary if you want to access the features of this platform. When you sign up for an account on BlockFi, you will be given a wallet that you will use to manage and store your crypto assets. Furthermore, signing up for an account gives you access to BlockFi credit card rewards. The next heading will give you a guide on how you can sign up for an account if you do not have one.
READ MORE: Best Place to Buy Bitcoin with Credit Card
How to Sign Up for an Account on BlockFi
Signing up for an account on the BlockFi exchange platform is very easy and can be achieved within a few minutes. As a beginner in crypto exchange, do you need help signing up for an account on this crypto exchange? Below are some steps you can consider to sign up for a trading account on BlockFi
- Navigate the website at https://app.blockfi.com/signup.
- On the form displayed on your screen, provide your “Legal First Name”, “Legal Last Name”, and “Email”.
- Thereafter, you need to create a password on the “Create a Password” bar.
- Enter your “Referral Code (Optional)”. (You also need to click on the boxes below the form to agree to the terms, conditions, and policy of BlockFi).
- Tap on the “Submit”.
When you carry out the processes above carefully, you will be able to create an account on BlockFi. Thereafter, a free wallet will be given to you and you can begin to trade cryptocurrencies.
Signing into your account is very necessary if you want to get updated with information on the platform and manage your trading account. Logging in to your account is non-negotiable if you want to trade effectively on this platform. Read the next heading to get a guide on how you can your BlockFi account.
How to Login to Your Account on BlockFi
Follow the steps below to log into your account on BlockFi
- Launch the website at https://app.blockfi.com/signin.
- On the page, enter your “Email” address.
- Click on the “Continue” button at the bottom of the page.
When you carry out the steps above, you will be able to log into your account on BlockFi without stress.
BlockFi Customer Service
Do you need support with trading in this crypto exchange? BlockFi customer service is available to attend to you if you have issues concerning the trading platform. They are also available to give you more information about crypto trading. Follow the steps below to reach out to their customer service
- Visit the website at https://blockfi.com/contact/.
- On the site displayed on your screen, you will find customer helplines addressing different issues.
Use the contacts to reach out to their customer service to get the support you need.
Is BlockFi Safe?
Although people fear investing in cryptocurrencies because of fear of fraudsters, BlockFi is pretty safe for you to consider. BlockFi works towards keeping the coins of investors safe. On this exchange platform, a lot of crypto assets of investors are stored on cold storage systems. Also, the assets which are not stored in cold storage are kept safe in hot wallets on Aon.
Can You Lose Money on BlockFi?
As BlockFi is not a brokerage, cryptocurrencies account held under it are not protected by FDIC and SDIC insurance. Hence, there is still a possibility that you can lose your investment when the industry suffers a setback.
Can BlockFi Be Hacked?
Like other crypto exchange platforms, BlockFi can still be hacked. However, this platform has high-security standards which they use to try as much as possible to prevent investments from being accessed by fraudsters.
Is BlockFi Licensed?
Yes, it is. BlockFi Trading LLC is licensed by the Tennessee Department of Financial Institutions. It is licensed as a money transmitter. Hence, it is safe for you to consider investing in cryptocurrencies on this platform.
Can You Make Money on BlockFi?
Yes, you can. BlockFi is a legal platform for investors to trade and exchange cryptocurrencies. You can also earn interest on your investment as well as lend them out to other parties to make a profit.
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