Is the BlockFi Credit Card Worth It? With a $200 annual fee and a 1.5% flat rewards rate paid back in BTC, the BlockFi credit card is a decent addition to your credit card arsenal. It's a unique way to increase your exposure to bitcoin.
Money deposited with BlockFi is not as safe as being on deposit at a bank. BlockFi, or rather its custodian, Gemini, is not insured by the FDIC or SIPC. Gemini does, however take measures to protect your funds. These measures include keeping the majority of funds in cold storage (i.e., offline).
New customer offer
Most large U.S. credit card issuers don't allow the purchase of cryptocurrency, while others penalize cardholders with fees. Even if you can use your credit card from, say, a smaller bank to exchange dollars for bitcoins, you might not want to. And for what it's worth, NerdWallet doesn't recommend it.
Does the BlockFi Bitcoin credit card have an annual fee? ... Cardholders have to hand over a $200 annual fee. In the first year, you'll offset this via a slight twist on a traditional sign-up bonus: $250 in bitcoin after spending $3,000 in the first three months.
Crypto credit and debit cards are not confusing at all, in fact, they function the same as regular payment cards. The only difference is that you are using cryptocurrencies to pay for products and services. However, you must understand that one does not directly pay with Bitcoin, Ethereum, or other crypto assets.
Client Funds are Prioritized— BlockFi makes sure client funds are structured to be at the top of the capital stack even over BlockFi equity, and employee capital. This means if the worse case happens, BlockFi would take a loss before any client funds would take a hit.
BlockFi Hacked Following SIM Swap Attack, But Says No Funds Lost. For just under 90 minutes last Thursday, hackers were able to compromise the systems of cryptocurrency lending platform BlockFi, and gain unauthorised access to users' names, email addresses, dates of birth, address and activity history.
BlockFi Tax Reporting
You can generate your gains, losses, and income tax reports from your BlockFi investing activity by connecting your account with CryptoTrader.
The next major bitcoin price crash will wipe up to 90 per cent from its value and cause it to stagnate in a years-long “crypto winter”, a market expert has warned. ... Last March, the value of bitcoin had just halved following a series of flash crashes, in part sparked by the coronavirus pandemic.
Bitcoin Well offers the safest, fastest and easiest way to pay your online bills and credit cards using Bitcoin and Cryptocurrency. Our system allows you to use Bitcoin, Litecoin, Ethereum and Bitcoin Cash to pay bills of any size.
(Reuters) - Visa Inc said on Monday it will allow the use of the cryptocurrency USD Coin to settle transactions on its payment network, the latest sign of growing acceptance of digital currencies by the mainstream financial industry. ... Visa subsequently confirmed the news in a statement.
Yet No Comments