BlockFi Card Review

BlockFi Card

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7.5/10 (Expert Score)
Product is rated as #29 in category Crypto Cards

BlockFi are releasing a prepaid metal crypto-card for users to spend & earn rewards on. BlockFi are covered by established crypto-custodians, Gemini; who have insured this platform for up to $200M. Aside from an annual $200 charge, we saw no mention of any additional fees.

It seems BlockFi are taking a membership routine, waiving small fees typically scattered throughout the spending process. Although supported in ~33 countries, the BlockFi credit card is still in production and awaiting release. Stay alert for an updated review once more information becomes known.

Features
8
Usability
8.5
Payment options
7
Fees and charges
6
Perks & rewards
9
Company & Reputation
8
Support
7.5
PROS:
  • 2FA enabled
  • Worldwide ATM access
  • Insured for up to $200M
  • Referral rewards available
  • Earn interest on BTC rewards
  • Funds kept secure in cold storage
  • Supported in approx. 33 countries
  • Backed by a number of big investors
  • A number of perks included (see below)
  • 1.5% BTC cashback on spending with no limit
  • Account freeze/unfreezing available on request
  • No mention of any fees outside of $200 annually
CONS:
  • Annual $200 fee
  • No staking options
  • Slow email-only support
  • No mention of on-chain rewards
  • KYC checks compromise anonymity

Specification: BlockFi Card

Company & Availability
Insurance Coverage Covered by custodian, Up to $200M
Eligible regions , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,
KYC
Savings Information
Supported Fiat Currencies
Supported Cryptocurrencies
Gas fees Annual $200 fee
Availability
ATM Access Worldwide
Pay In Local Currencies Not specified
Support
24 hour support Email support
Live Support No
Staking
Staking required Not specified
Token Ticker No Token
Rewards
Cashback on spending 1.5% in Bitcoin
Cashback Restrictions Not specified
Max Cashback No limit
On Chain Rewards Not specified
Referral Rewards Each earn $10 in BTC
Perks
Perks $250 BTC signup bonus when you spend $3,000 within first 3 months, 0.25% back in BTC on all eligible trade (max. of $500 BTC each month), 2% extra APY on average daily stablecoin balance, 3.5% BTC rewards on all purchases in months 4-6 of card ownership
Spending Limits
Daily ATM Limit Not specified
Daily Purchase Limit Not specified
Monthly ATM Limit Not specified
Monthly Purchase Limit Not specified
Fees
Monthly fee Annual $200 fee
Delivery Fee Not specified
Online/Offline Purchase Fees Not specified
Topping up fee Not specified
ATM Fees Not specified
International ATM fee Not specified
POS Foreign Transaction fee Not specified
Card Replacement Fee Not specified
ACH Declined Not specified
Charge back processing Not specified
Dormancy Not specified
Exchange Rate Provider Not specified
Card Features
Instant settlement Not specified
App Payments Not specified
Dual-Interface NFC/EMV (Card with chip) Not specified
Virtual Cards Not specified
Physical Cards Yes
Security
Fraud Monitoring Yes
Freeze / Unfreeze Upon request
Instant Notifications Not specified
Pin Viewing Not specified
2FA Yes
Asset protection & Insurance
Audited Not specified
Cold Storage Gemini Custody, Yes
Company Backing Arrington XRP Capital, Avon Ventures, BainCapital Ventures, CMT Digital, Coinbase Ventures, Gaingels, Galaxy Digital, Kenetic, Morgan Creek, PJC
FDIC insurance No
Insured by Gemini

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