BlockFi Review in 2 Minutes (2024 Updated)

❗❗❗On November 28, 2022 BlockFi officially filed for Chapter 11 bankruptcy protection ❗❗❗

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👇See anything we haven't covered? Leave us a comment in the comment section below

[Bitcoins]

CAUTION!! Many scammers are using the comment section to promote their scams and sometimes even use the name “99Bitcoins” in their profile. Never send money to someone you don’t know and don’t accept offers to trade or exchange cryptocurrency from strangers.
Stay safe 🙏🏻🙏🏻🙏🏻

[pco]

Somewhere out there there's dozens of videos on the same topic but 20x longer but I came here instead!

[johnjslatteryherbalist]

locked out of my account for 5 days because 2FA issues and all customer support can offer is, "Make sure you're copying the correct authentication number". Geezus, why didn't I think of that??!!??

[winstonjones]

This is the best video format I've seen in a long time.

[brinklon]

Thank You! I have been waiting for this video. Big fan of BlockFi! Great Customer Service! I NEVER wait longer that 5 hours! There is 3rd party risk, but that goes along with the high interest rates. You also can lock up your own funds to make certain nobody can take your money out even if the sight gets hacked. I Love BlockFi! A Crypto bank that pays!

[ابولويس-حب]

risky business to give cryptos to some one

[MrTexasI]

Great quick informative video! Thanks Nick. Let’s go Bull Run 🏃🏾‍♂️🐂🐘

[Pa-c]

GREAT succinct video on this. Please keep doing 2 minute reviews

[hurricanecrane]

I appreciate the 2 fingers.. it told me the video was short and simple...

[cyeamaculture]

is the amount of interest you get a reflection of the current price of the crypto(not just the price at which you deposiited it at)? if so, how often is it updated to reflect price changes?

[samd]

good stuff mate. this two minute explanation method is amazing.

[themoon]

amazing video short and direct to the point

[damilola_adegunwa]

It looks like blockfi is often down, I tried the website, couldn't get through... turns out lots of people are experiencing d same problem, some complains dates back to october 2020 (writing this in dec 2020)

[cryptonanda]

In a BlockFi user. Not the best interest rates, Celsius pays better, no fees. To get your coins or of BlockFi is a torture.

[stock]

Sounds more like a 2.8 to 3.0 stars out of 5 to me.

[-XArchLinuxEnjoyerX-]

The centralisation and third-party aspect of this makes me wonder why use crypto in the first place? I feel like this is just trying to adapt this wonderful tech we have to the old, behemoth, broken banking system of recent history, rather than forcing them to adapt to us.

[HappilyNorth]

Deposits aren't insured? So if Blockfi are hacked, customers are screwed?!

They're also cenbtralized meaning not your keys not your coins.

[PaulHardingham]

Uninsured and centralised. Wow, that's a massive risk. No thanks!

[jamb]

Worst sign up experience ever. Really bugs me to hit a wall after they have my sensitive info and I don't get why the hoops to Ask a question are there. A captcha to contact customer service when I've wasted 12 attempts to stay logged in while I get logged out checking verfication code. Loop from hell. Just. No

[beitziv]

I'm looking at passive income. I trade on Binance. Why would I use Blockfi at 8%/year when I can get rates like 43% APY on Binance staking?