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The First Rewards Payday for the BlockFi Rewards Credit Card

Published, 13 August, 2021

Note: Some of the cardholder benefits mentioned in this blog post have expired or changed. For the most up-to-date information on cardholder rewards, visit blockfi.com/credit-card. For more detailed information, please see the BlockFi Rewards Program and Crypto Rewards Account Terms

It’s an exciting day for BlockFi and BlockFi Rewards Credit Card holders. Not only are we announcing our first-ever BlockFi Rewards Payday, but it’s the first time in history that Bitcoin is being paid out to cardholders. We’ve distributed over 12 Bitcoin in total rewards to our first cardholders for purchases that were made in July, almost exactly 12 years after Bitcoin was invented!

The BlockFi Rewards Visa® Signature Credit Card, which began shipping to waitlist clients in early July, has already been met with excitement and fanfare. We promised to work through the waitlist as quickly as possible and will have completed that goal this week. We’ve loved seeing all the unboxing videos, first-purchase photos, and hearing about the many places people are traveling to while earning more Bitcoin.

“Today is yet another huge milestone not only for BlockFi, but also our valued clients,” said Zac Prince, Founder and CEO of BlockFi. “Bitcoin will play a critical role in the future of money, so it always made sense to wed it to one of the world's most familiar financial products: credit cards. We thank all of our partners in making this day possible and are excited to pay out additional BTC rewards as more BlockFi clients receive their cards."

How do Bitcoin rewards work? As a cardholder, you will receive your Bitcoin rewards based on the amount of settled transactions each month. For example, if you have $5,000 worth of settled transactions in a month, you’ll receive 7,500 rewards points based on the unlimited 1.5% back you get with the BlockFi Rewards Credit Card. On rewards redemption day, those 7,500 points will be redeemed for an amount of Bitcoin. Each reward point equals approximately $0.01, which would be around $75 earned in Bitcoin that month. And just like that, you’ll have more Bitcoin simply for paying your bills, buying groceries, or that late night pizza delivery.

What are the benefits for the BlockFi Rewards Credit Card? First, this card has no annual fee and no foreign transaction fees. Card recipients will be able to earn unlimited 1.5% back in Bitcoin on every purchase they make. In addition, cardholders will receive a 3.5% Bitcoin rewards rate for the first 90 days. Cardholders can also earn unlimited 2% back in Bitcoin on every dollar spent over $50,000 annually. Plus, you can check to see if you’re pre-approved with no impact on your credit score.

How does the BlockFi Rewards Visa® Signature Credit Card compare to other crypto cards? For starters, our card is available to you now and actually earns you Bitcoin that is yours to keep, sell, trade, or transfer. That’s unlike other crypto rewards cards that claim to “give you Bitcoin rewards,” but only provide price exposure to Bitcoin that allows you to sell but not withdraw that Bitcoin. Once BlockFi rewards are redeemed, Bitcoin is transferred to your BlockFi account where it can be held, traded, sold, or moved to a wallet address of your choice.

Learn more about the BlockFi Rewards Visa® Signature Card here.

If you want to take advantage of earning Bitcoin back on every purchase, create a BlockFi account and apply now.

Disclaimer: Applying for the BlockFi Bitcoin Rewards Credit 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.

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 citizenship, residence or otherwise.

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.

Rates for BlockFi products are subject to change. Digital currency is not legal tender, is not backed by the government, and crypto interest accounts are not subject to FDIC or SIPC protections. Geographic restrictions and other terms and conditions apply.

For more information, please see BlockFi's Terms of Service.

BlockFi Lending LLC NMLS ID#1737520 | BlockFi Trading LLC NMLS ID#1873137

Last updated on June 2nd, 2022

Credit Card

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.

BlockFi Lending LLC NMLS ID#1737520 | NMLS Consumer Access

BlockFi Trading LLC NMLS ID#1873137 | NMLS Consumer Access

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.

BlockFi Lending LLC NMLS ID#1737520 | NMLS Consumer Access

BlockFi Trading LLC NMLS ID#1873137 | NMLS Consumer Access

See blockfi.com/terms for more information.

The First Rewards Payday for the BlockFi Rewards Credit Card

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