[Expired] BlockFi Promotion: Earn $50-$1,000 When You Trade $1,000-$100,000 In Cryptocurrency (New Users)

Deal has ended, view more BlockFi deals by clicking here.

The Offer

Direct link to offer

  • BlockFi is offering a bonus of up to $1,000. The bonus you receive depends on the amount of Cryptocurrency traded:

The Fine Print

  • New BlockFi clients who signup for a BlockFi Interest Account (BIA) and trade $1,000 or more in qualifying crypto during the promotion period (7/20/20 04:00:00 – 7/31 23:59:59 UTC) are eligible to receive up to $1,000 in BTC.
  • Traded value will be tracked as the sum of all qualifying trades executed during the promotion period.
  • Note: stablecoin to stablecoin trades do not qualify.
  • There is no cap on the number of times you may trade your balance, however, the bonus will only be applied to a maximum total traded value of 2x your BIA balance as of 8/16/20 23:59:59 UTC. For example:
  • If your BIA balance on 8/16 is $10,000, your max payout will be calculated using the lesser of $20,000 or the total traded value in USD.
  • Bonuses will be credited by end of day on Monday, August 17th, and will be based on the prevailing market price of bitcoin at the time of credit.
  • In order to be eligible for the promotion, you must fund your BIA for the first time and trade during the promotion window. There is a maximum of one bonus per client.
  • You must also have a valid July trading offer code or receive a targeted email to be eligible for this promotion.
  • Please note: to qualify you can’t make any withdrawals off the platform through 8/16/20.
  • This offer cannot be combined with other offers.
  • Trading qualifications may be dependent upon geographical or regulatory restrictions. Terms subject to change.

Our Verdict

BlockFi offered a bonus of $100 in the past and you only needed to deposit $200 (no need to trade). That was a much better bonus and I’d recommend waiting for something like that return. To get the full bonus of $1,000 you’d need to have $50,000 deposited and then trade a total of $100,000 (you can only 2x your deposit for the bonus terms). Seems like a lot of risk and I’m not sure what sort of fees or less than favorable exchange rates are offered. I won’t be adding this to the list of the best crypto deals.

Hat tip to reader Z F
    William Charles
  • On July 21, 2020, 10:00
Tags: blockficryptocurrency

View Comments (12)

  • Tranferred in $12,800 USDC from coinbase and traded it into BTC and back into USDC, paid/lost around $200 USD in fees/spreads.
    That should be a $300 bonus.

    • I've got my $500 BTC payout today as promised, so after accounting for interest earned and fees paid I've earned around $350; not bad at all.

    • I’m surprised the fees were that high. The way BTC has been going it’s pretty easy to take small gain.

  • BlockFi only supports wire transfer. So it usually takes $45-65 fee for incoming/outgoing.
    As for trading, it looks like there are no extra fees.

  • Seems like a great bonus to me. Deposit $12,500 and trade in and out of BTC twice quickly to limit volatility. Make $500 bonus. Really impressed with BlockFi's promotional stance; glad I got in on the double interest promotion last month.

    • Do you know if you can get this promotion if you are already registered? From my understand it's only for new sign ups

    • Ted, in order to make $500 bonus you need to have $25K BIA balance as of 8/16/20 23:59:59 UTC; guess you really need to transfer a little more to account for a possible trading loss

      • Novice, not true. You didn't read the fine print. "Traded value will be tracked as the sum of all qualifying trades executed during the promotion period. Note: stablecoin to stablecoin trades do not qualify. There is no cap on the number of times you may trade your balance, however, the bonus will only be applied to a maximum total traded value of 2x your BIA balance as of 8/16/20 23:59:59 UTC. For example: If your BIA balance on 8/16 is $10,000, your max payout will be calculated using the lesser of $20,000 or the total traded value in USD. Bonuses will be credited by end of day on Monday, August 17th, and will be based on the prevailing market price of bitcoin at the time of credit."
        So if your BIA account balance is $12,500, and you make $25,000 worth of trades, you will be credited for the $25,000 bonus.

        • I think that our BIA account balance needs over $12500 for $500 bonus because of "total traded value of 2x your BIA balance".
          In addition, we had better deposit over $12500 to avoid that the balance is under $12500 due to the possible trading loss.
          This is my conclusion for this bonus. Please correct me if my understanding is wrong.

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