BlockFi is a great banking alternative which pays you interest for saving your crypto with them. Their APYs for various cryptos are listed here. I think 8.25% APY across all stablecoins is great.
Their referral program normally awards the new invited customer $10 in bitcoin on signup, but they are allowing me to offer you a higher bonus amount of $40 in bitcoin for being a BlockFi visa card holder (See images below).
To get the $40 BTC bonus,
- Sign up using this link: https://blockfi.com/?ref=1f7f2ee0
- Make sure referral code 1f7f2ee0 is entered when signing up.
- Go through verification steps.
- You need to transfer $100 or more in crypto or fiat to your account. This can be done by sending crypto from your wallet or exchange, or simply depositing money from your bank through ACH. Fiat deposit is valid for the bonus since your fiat gets converted to a stablecoin (I’ve checked this point with support) I recommend depositing $105 of crypto or fiat to account for market fluctuations.
- Bonus payout occurs every second Friday of each month. So just leave your fund and wait.
If you’re not sure if your referral code is entered correctly, you can check on your “Referral” page in the line that says “Referral Code Used”. If the code is missing, contact support via chat and ask them to add it manually.
The terms of the referral program are here.
If you want to find out if you have met your minimum deposit requirement, I can track your progress on my referral page, so feel free to message me.
Thank you for using my referral, in advance!
I just found out that now you get one free withdrawal from BlockFi every month. This is a great news because if you choose to withdraw your bonus right after you get it, you won’t lose anything.
Checking in my Coinbase Pro account, it shows that sending $105 worth of BTC from Coinbase to BlockFi costs only about $0.08 (0.00000135 BTC) in network fee!
So you could send BTC from Coinbase to BlockFi, get your $40 BlockFi bonus, send all your BTC back to Coinbase (or to your wallet) using your free withdrawal credit, and pay only about 8 cents in network fee in the entire process.
Cool looking card! For maximum make sure you share your referral codes on the dedicated shop page, this is the one for BlockFi: BlockFi Referral Code & CashBack Page
I’ve added my referral link on that page, too, thanks!
The card is not only cool looking, but also it gives you cashback in bitcoin on every purchase you make. For the first three month you get 3.5% cashback in bitcoin, then 1.5% after that.
I personally believe Bitcoin’s value will appreciate a great deal in a long run, so this is a perfect way to handsomely reward my future self. I invite anyone who wants to do the same to join the club
For new people signing up - please note that your $40 bonus will come in two separate chunks. First you’ll get the base $10 amount, then the $30 boost portion for the referrer being a BlockFi Visa holder. The boost portion arrives the day after the first $10 payout.
My referees and I just had our payouts yesterday (Thu, Nov 11, 2021) and today (Fri, Nov 12, 2021). After we each got our first regular $10 amount yesterday, I emailed the support to make sure the $30 part was to follow, and this was the reply:
And just as this email reassured, we all got the $30 boost today.
It appears that they handle the regular referral rewards on the 2nd Thursday and credit-card-related rewards (referral boost + cashback rewards) on the 2nd Friday of each month.
So this is something to keep in mind if you’re newly signing up.
To all of those who used my referral - you guys greatly helped me in my journey to achieve my dream, so I thank you from the bottom of my heart!
The beauty of referrals is that each person benefits! Spread the referral love
So true! Sharing has a ripple effect
Some people have asked me for proof for my BlockFi Visa card ownership, so here’s a quick video proof
How dare they doubt you! Cool looking card and keep nailing the referrals
Right, haha. But I understand anyone wanting to be extra careful. Sure, I will keep sharing these great opportunities, and thank you everyone for participating, in advance!
UPDATE: Referral terms have been updated as of February 3, 2022. Your $100+ deposit now must be held in your account for 30 days to be eligible for the bonus. Other than that, the referral rules are pretty much the same.
BlockFi just updated their referral program rules page for more clarification. The new rule says as long as your average deposit value is $100 or more over 30 days, you become eligible for the bonus. So if a market dip causes your deposit to fall below $100, don’t worry, you can still add some more to bring up the 30-day average
Thanks for sharing the tip!
No problem, always happy to provide up-to-date information