If you're looking for a BlockFi referral code then we have exactly what you need covered in this article.
What is BlockFi?
BlockFi is a crypto financial institution that works a lot like a bank, making users eligible for interest accounts based on cryptocurrency.
It's possible to get a loan, make a payment, and earn crypto. Boasting fairly high-interest rates for deposits, any new client can use the BlockFi referral code to get a BTC deposit bonus of up to 250 USD.
The BlockFi referral code has an extremely high BTC bonus and makes users eligible to receive this promotion as soon as they deposit at least $100.
However, remember to deposit $250 or more to receive a better bonus (the bonus received depends on the tier you fall under, with tiers ranging between $20,000-250).
How to Claim the BlockFi Referral Code
Here is how you can use the referral link to claim a maximum bonus of $250 on BlockFi:
Click here to sign-up with the BlockFi referral code
Enter your credentials to create your account
Deposit Bitcoin or another qualifying cryptocurrency into your account to qualify for the BTC bonus
Begin using BlockFi. Remember that you will also earn interest on the currency in your account
BlockFi Bonus Tiers
The bonus received will depend on which tier that the deposit amount falls in, and whether you can maintain a minimum balance. Deposits of over $20,000 receive the highest bonus, while you need at least $25 to be eligible for the promo.
Remember that there is only one bonus per client, and you need to maintain a minimum balance of $25 in your account for a period of roughly 75 days to be eligible for the payout.
Let's look at each individual bonus tier and how much of a bonus you will be paid for it. Remember that these tiers are subject to change, so always confirm:
Tiers and their Bonuses
Tier 1 falls between $25-249 and gets clients a $15 bonus.
Tier 2 falls between $250-900, and the payout is $20.
Tier 3 comes between $1,000-4,999, and you will be paid $40.
Tier 4 lies between $5,000-9,999, and the bonus is $75.
Tier 5 is for deposits between $10,000-19,999, with the bonus being $150.
Tier 6 is for a deposit of $20,000 or more and gets you a promo bonus of $250.
BlockFi Referral Program
You can also set up your own promo code to get further bonuses from your referrals. When your friends participate in promotions using your referral link, BlockFi will give you and your friend $10 each in BTC.
After you have referred five people, your payout will increase to $20. Just remember that your friends will still receive $10. All of your refer-a-friend bonuses will be paid in BTC. Your friends will still need to keep a minimum balance for the two of you to receive the bonus.
When users sign up to the BlockFi platform, they can avail themselves of a large variety of services for free. BlockFi has a trading platform, a lending platform, and an interest account (for select currencies such as USDC and GUSD). Let's look at each of them in detail.
BlockFi Trading Platform
You can trade cryptocurrencies on BlockFi with ease. There is no option for leverage trading like there are on platforms such as Bybit and FTX, but you start earning interest on all cryptocurrency in your account as soon as the trade is complete.
The fees are quite low, and all the fees are incorporated into the price. For example, when users exchange Bitcoin for another currency, the total amount they end up paying is exactly the same as the amount that was on their screen.
Always Receive Interest
As a user, you also earn interest as soon as the trade is complete. Interest rates go as high as 8.6% APR.
Crypto enthusiasts will probably not enjoy this aspect of the platform, especially considering that there are now ways to trade for free, on exchanges that offer a lot more functionality.
However, BlockFi has two other ways to convince crypto users to switch to their platform.
BlockFi Lending Platform
BlockFi has a lending program that allows you to use your crypto as collateral. You can loan up to half of your collateral for a year. For example, using 20 BTC as collateral, you can take out $553,000 at the time of writing.
BlockFi Lending Rates
The rates vary depending on which cryptocurrency you use. However, you can acquire credit for as low as 4.5% APR, making BlockFi one of the best credit platforms for crypto users.
BlockFi Interest Account
BlockFi interest accounts offer rates as high as 8.6% APR. It is possible to earn interest on BTC, but the maximum rate is for cryptocurrency tethered to the USD. Here are a few currencies with very high-interest rates:
GUSD: 8.6% APR
USDC: 8.6% APR
BUSD: 8.6% APR
LTC: 5.5% APR
LINK: 4.5% APR
BlockFi BTC Interest Rates
For BTC, the interest rate rises depending on how much BTC you have in your account. The more BTC you have, the less interest it will earn. In fact, if you have more than 20 BTC, you will only earn 0.5% APR on the amount above that limit.
For those looking to earn a high interest rate, we recommend using a cryptocurrency such as USDC.
Security and Legitimacy
There is no doubt that BlockFi is a legitimate platform. They are partnered with Visa and will be rolling out their own credit card in a few months. The card will be available for free to BlockFi users, and you can sign up for the waiting list right now.
Once you deposit your crypto with BlockFi, they will grant you an obligation to pay back that amount along with any interest accrued. Your money will then be used to invest in numerous securities regulated by the CFTC and SEC.
The same goes for when you begin lending money and use your cryptocurrency as backing. BlockFi has never been hacked or penetrated and has high customer reviews across all review sites.
Use the BlockFi Referral Code Right Now
Click here to claim the BlockFi referral code bonus
When you use the referral code, BlockFi rewards you with a bonus that can go all the way up to $250. This amount can be over 1% of your entire deposit, thereby significantly increasing your crypto portfolio even before you begin earning interest on it.
Also, remember to set up your own referral code, BlockFi will give you between $10-20 for each user that signs up using your code. This way, you have the potential to make a lot of money on top of your interest income.