B̳𝐥𝐨𝐜𝐤𝐟𝐢 - L̳𝐨𝐠𝐢𝐧 -𝐒𝐢𝐠𝐧 𝐔𝐩
BlockFi is for the intermediate to the advanced crypto trader looking for a one-stop shop for their cryptocurrency needs. It not only offers the ability to buy, sell, and trade crypto, but it also offers several products for crypto enthusiasts.
Holistic platform: BlockFi login provides users a centralized hub for the different financial services they would like to use ranging from taking out a loan, holding their cryptocurrency, or managing credit card expenditures using the BlockFi credit card.
Comprehensive help center: This tool shares unique use cases to use cryptocurrency and educates BlockFi’s users on how to use the platform.
Ability to earn interest on crypto: Users can earn up to 8% in interest by holding assets in a BlockFi Login interest account.1
Not beginner-friendly: The user interface may be confusing for some beginners.
No video explainers: Its resource center is limited to written case scenarios vs. providing video explainers, which can be useful for certain users.
Limited number of cryptocurrencies: BlockFi only supports 13 digital assets, while other exchanges may support hundreds.
BlockFi is a complete cryptocurrency ecosystem for advanced crypto traders. It has over 1 million verified users and over $10 billion in assets
Users of this platform may appreciate the range of products BlockFi offers. In addition to its crypto exchange, BlockFi offers low-interest loans, a crypto rewards credit card, and an interest-bearing account that lets you earn up to 8% APY.1
Investing in cryptocurrencies, Decentralized Finance (DeFi), and other Initial Coin Offerings (ICOs) is highly risky and speculative, and the markets can be extremely volatile. Consult with a qualified professional before making any financial decisions. This article is not a recommendation by Investopedia or the writer to invest in cryptocurrencies nor can the accuracy or timeliness of the information be guaranteed.
Founded in 2017, BlockFi is currently headquartered in Jersey City, NJ. This company’s primary mission is to reimagine and expand access to banking resources in communities that traditional banking services hadn’t served. Since its founding, BlockFi has grown into a global company with over 800 employees.
BlockFi offers 13 digital assets available for purchase and several useful products. Overall, it could be a good option for advanced crypto traders.
There are 13 digital assets available on BlockFi, which is a low number compared with competitor exchanges. For instance, Coinbase and Kraken both offer over 100 digital assets. Here’s a partial list of assets BlockFi supports:
US Dollar Coin (USDC)
Gemini Dollar (GUSD)
BlockFi offers an online dashboard and mobile apps for Android and iOS. Overall, trading on BlockFi is intuitive and relatively simple to do. On desktop, users looking to make a simple trade would go to the table at the top of their screen and indicate which assets they’d like to trade.
Users with a BlockFi Interest Account can also choose to set up recurring trades. Trades can be set to occur daily, weekly, or on the first 1st or 15th of the month. Its recurring trades feature makes BlockFi stand out among competitors.
Overall, the trading experience is straightforward for those accustomed to using financial apps or an online brokerage account.
BlockFi’s fee schedule is slightly different than many exchanges, which often charge straightforward maker/taker fees. While BlockFi does not charge trading fees, it does charge withdrawal fees and imposes withdrawal limits. With certain assets, you’re eligible for one free withdrawal per month. But with others, you will be charged a fee for every withdrawal. See BlockFi’s full fee schedule for more information.
BlockFi employs various user and platform security practices. To help prevent fraudulent activity on the platform, users will need to verify their identity when signing up for a BlockFi account. To do so, you’ll need to provide a government-issued photo ID as well as some basic personal information. BlockFi also offers optional two-factor authentication, which helps protect user accounts. Currently, two-factor authentication is not required of users but is encouraged.
BlockFi holds its funds in cold storage with its partners, including Gemini. Cold storage means that assets are held in storage that’s not connected to the internet, making them generally more secure.
Opening Up A Blockfi Account
Opening a BlockFi account is a relatively straightforward process. BlockFi requests personal information such as your legal name, address, and country of residence. In order to trade on the platform, you’ll need to complete an identity verification process, so it’s a good idea to have your photo ID on hand to save time.
BlockFi login offers a few different options for customer support, including the ability to submit a ticket, contact a representative over the phone, or chat with a chatbot. This is useful for customers who have questions or need assistance. In addition to its support options, users can also access BlockFi’s help center to get answers to common questions.