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Crypto Rewards Enthusiasm Remains Strong Amid Market Volatility, According to New BlockFi Cardholder Survey
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Crypto Rewards Enthusiasm Remains Strong Amid Market Volatility, According to New BlockFi Cardholder Survey

Published, 6 July, 2022

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Crypto Rewards Enthusiasm Remains Strong Amid Market Volatility, According to New BlockFi Cardholder Survey
Fourth edition of Real Talk survey series focuses on BlockFi Rewards Visa® Signature Cardholder* sentiment towards market volatility and their usage of the rewards card.
BlockFi, a crypto financial services company, releases its fourth edition of the Real Talk survey, a quarterly series focused on understanding changing consumer sentiment towards crypto, finance, and other related topics.
BlockFi is celebrating the 1-year anniversary of the BlockFi Rewards Visa® Signature Card with the Real Talk: BlockFi Cardiversary survey. BlockFi surveyed cardholders about their spending habits and behaviors when it came to share-of-wallet, rewards preferences, and general sentiment regarding card usage. 
Cardiversary-Stats-1
By the numbers
One year after the BlockFi Rewards Visa® Signature Card launched: 
  • Total # of Transactions: ~18M
  • Total Spent: ~$1.5B
  • Largest Transaction: $72,000.00 @ Stone Lake Lumber
  • Average Transaction Size: $83.26
  • Average Monthly Spend: $2,313.50
BlockFi Cardiversary - Stat 2
Most BlockFi clients indicate that broader market conditions don’t affect their card spending habits (To view official survey dates, please see footer below.)*
The crypto market’s volatility didn’t deter cardholders from “swiping the dip”—a testament to crypto’s resiliency as an asset class and BlockFi as an established institution. The survey revealed the following:
  • 94% of respondents said crypto prices and market conditions don’t impact their usage of the BlockFi Rewards Visa® Signature Card
  • 87% of respondents believe their crypto rewards will increase in value over time  
  • 62% of respondents said they prefer to earn bitcoin as rewards (with more than 90% of cardholders currently earning rewards in BTC)
  • Over half of respondents intend to keep their rewards on BlockFi 
BlockFi Cardiversary - Stat 3
The majority of respondents use the BlockFi Rewards Visa® Signature Card for the majority of their purchases
Despite an ever-growing variety of credit card options, clients prioritize the BlockFi Rewards Visa® Signature Card over others. Here's what they said:
  • 60% of respondents use the BlockFi Rewards Visa® Signature Card for over half of their purchases
  • Since receiving the BlockFi Rewards Visa® Signature Card, almost 75% of respondents have used travel rewards and cash back cards less
  • The majority of respondents say they primarily use the BlockFi Rewards Visa® Signature Card for travel-related and home improvement purchases
    • Other interesting answers included: cat toys, a dog, a drone, and a 25-year anniversary ring
  • Almost 60% of respondents intend to use the BlockFi Rewards Visa® Signature Card for expenses specifically related to summer travel instead of travel rewards and cash back cards
BlockFi Offers Header
Clients want to receive rewards for groceries more than any other merchant category
In June 2022, BlockFi announced BlockFi Offers, a new rewards program designed to give cardholders more ways to earn crypto on everyday purchases. BlockFi Rewards Visa® Signature Card cardholders can now earn up to 10% back (as of publishing date) in crypto at thousands of merchants.**
  • When asked what types of merchants cardholders would like to receive rewards for, 45% of respondents chose groceries
  • Most respondents are interested in an instant rewards redemption feature rather than waiting for the standard rewards payday
  • Many respondents confirmed their preference for a flat rate card, such as the BlockFi Rewards Visa® Signature Card, over a tiered rewards card
Still don’t have a crypto rewards credit card? Learn more about how you can earn crypto with the BlockFi Rewards Visa® Signature Card.

*Methodology
The survey was conducted from June 8, 2022 to June 9, 2022. 324 current US-based BlockFi Rewards Visa® Signature Cardholders were surveyed.
About Real Talk 
BlockFi Real Talk is a quarterly survey series focused on understanding changing consumer sentiment towards crypto, finance, and other related topics. Our goal is for the data to spark candid, “real talk” conversations about crypto, the current state of the industry, and where it’s headed in terms of mainstream adoption. Read our other surveys: Real Talk: Women x Crypto 2.0, Real Talk: Women x Crypto, and Real Talk: Happy HODLdays.
About BlockFi
BlockFi is a new breed of financial services company. Founded in 2017 by Zac Prince and Flori Marquez, BlockFi is building a bridge between crypto and traditional financial and wealth management products to advance the overall digital asset ecosystem for individual and institutional investors. 
Disclaimer: Nothing contained in this announcement should be construed as a solicitation of an offer to buy or offer, or recommendation, to acquire or dispose of any security, commodity, investment or to engage in any other transaction.  The information provided in this announcement is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation. This announcement is not directed to any person in any jurisdiction where the publication or availability of the announcement is prohibited, by reason of that person’s nationality, residence or otherwise.
The BIAs have not been registered under the Securities Act of 1933 and, unless otherwise exempt from those registration requirements, may not be offered or sold in the United States, to U.S. persons, for the account or benefit of a U.S. person or in any jurisdiction in which such offer would be prohibited.
Neither BlockFi nor any of its affiliates or representatives provide legal, tax or accounting advice. You should consult your legal and/or tax advisors before making any financial decisions.
Digital currency is not legal tender, is not backed by the government, and crypto interest accounts are not subject to FDIC or SIPC protections.
Invitation to apply disclaimer:
Applying for the BlockFi Rewards Visa® Signature Card (“Card”) does not guarantee that you will be eligible to receive the Card. Geographic, regulatory, and underwriting restrictions will apply. Fees and terms are subject to change, and additional terms of service will apply to the Card. By applying for the Card, you agree to receive marketing communications pursuant to BlockFi’s Privacy Policy. For more information, please see BlockFi’s Terms of Service. Cards are issued by Evolve Bank & Trust, Member FDIC, pursuant to a license from Visa® USA Inc.
Disclaimers for cardholders:
Digital currency is not legal tender, is not backed by the government, and crypto accounts held with BlockFi are not subject to FDIC or SIPC protections. Digital currency values are not static and fluctuate due to market changes. Not all products and services are available in all geographic areas and are subject to applicable terms and conditions. Eligibility for particular products and services is subject to final determination by BlockFi. Rates for BlockFi products are subject to change.
For more information, please see BlockFi’s Terms of Service. BlockFi is not a Bank. Cards are issued by Evolve Bank & Trust, Member FDIC, pursuant to a license from Visa® USA Inc. Rewards are not offered by Evolve Bank & Trust and are instead offered and managed by BlockFi.
**Disclaimer for BlockFi merchants: BlockFi Offers are offered and managed by Dosh. Rewards are managed by BlockFi. Must opt in to be eligible. You may opt out at any time by logging into your BlockFi account or using the BlockFi app. BlockFi Offers are subject to Dosh Terms of Service and the BlockFi Rewards Program and Crypto Rewards Account Terms, and the BlockFi Retail Offers powered by Dosh Privacy Policy. You may opt out at any time by logging into your BlockFi account or using the BlockFi app.

Last updated on July 29th, 2022

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As of February 14, 2022, the BlockFi Interest Account (BIA) is no longer available to new clients who are US persons or persons located in the US and existing US clients with BIA accounts are unable to transfer new assets to their BIAs. Learn More.
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Digital currency is not legal tender, is not backed by the government, and crypto accounts held with BlockFi are not subject to FDIC or SIPC protections. Digital currency values are not static and fluctuate due to market changes. Not all products and services are available in all geographic areas and are subject to applicable terms and conditions. Eligibility for particular products and services is subject to final determination by BlockFi. Rates for BlockFi products are subject to change.
BlockFi Rewards Credit Card: For more information, please see BlockFi’s Terms of Service. BlockFi is not a Bank. Cards are issued by Evolve Bank & Trust, Member FDIC, pursuant to a license from Visa® USA Inc. Rewards are not offered by Evolve Bank & Trust and are instead offered and managed by BlockFi.
BlockFi International Ltd. holds a Class F digital assets business license under the Digital Assets Business Act, 2018 (as amended) and is licensed by the Bermuda Monetary Authority to conduct the following digital assets business activities: (i) issuing, selling or redeeming virtual coins, tokens or any other form of digital assets (ii) operating as a digital asset exchange (iii) providing custodial wallet services (iv) operating as a digital asset derivative exchange provider and (v) operating as a digital assets services vendor.
See blockfi.com/terms for more information.
2022 © All Rights Reserved.
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This icon serves as a link to download the eSSENTIAL Accessibility's free assistive technology app for individuals with physical disabilities.
Digital currency is not legal tender, is not backed by the government, and crypto accounts held with BlockFi are not subject to FDIC or SIPC protections. Digital currency values are not static and fluctuate due to market changes. Not all products and services are available in all geographic areas and are subject to applicable terms and conditions. Eligibility for particular products and services is subject to final determination by BlockFi. Rates for BlockFi products are subject to change.
BlockFi Rewards Credit Card: For more information, please see BlockFi’s Terms of Service. BlockFi is not a Bank. Cards are issued by Evolve Bank & Trust, Member FDIC, pursuant to a license from Visa® USA Inc. Rewards are not offered by Evolve Bank & Trust and are instead offered and managed by BlockFi.
BlockFi International Ltd. holds a Class F digital assets business license under the Digital Assets Business Act, 2018 (as amended) and is licensed by the Bermuda Monetary Authority to conduct the following digital assets business activities: (i) issuing, selling or redeeming virtual coins, tokens or any other form of digital assets (ii) operating as a digital asset exchange (iii) providing custodial wallet services (iv) operating as a digital asset derivative exchange provider and (v) operating as a digital assets services vendor.
See blockfi.com/terms for more information.
2022 © All Rights Reserved.