BlockFi Referral Code (May 2022): $15-$250 Signup Bonus

February 14, 2022
Blog

BlockFi is a crypto-asset lending firm based in New York that provides loans in US dollars against Bitcoin and other cryptocurrency assets. It has a few unique features not found on other platforms, such as its BlockFi Interest Accounts and BlockFi Bitcoin Rewards Credit Cards.

BlockFi has a referral program in place to benefit its clients: by using the referral code YOREOYSTER (or the link), you will receive a bonus ranging from $15 to $250 worth of BTC. You will also receive your referral code, which you can use to invite friends and earn an additional $10 worth of BTC after they fund their account.

How To Use Your BlockFi Referral Code

BlockFi has a referral program for new traders. When you sign up with BlockFi using the referral code YOREOYSTER, you can receive a bonus starting at $15 and going as high as $250 worth of BTC – this will depend on the amount you deposit 

  • Deposit $100-$1,499, earn $15 BTC.
  • Deposit $1,500-$19,999, earn $20 BTC.
  • Deposits $20,000-$39,999, earn $40 BTC.
  • Deposit $75,000-$99,999, earn $150 BTC.
  • Deposit $100,000+, earn $250 BTC.

To use the promo code:

  • Visit BlockFi’s page. Click on the Get Started button. 
  • Enter your email and create a password. (important: you have to use the referral code PARTNER250 before continuing the sign-up process – you will not be able to use it after you create your account, and you will miss out on the bonus).
  • Fill in some basic information.
  • Verify your identity and fund your account.

What Is BlockFi?

BlockFi is a crypto-asset lending company based in New York City. It offers loans in the form of dollars against Bitcoin and other cryptocurrency assets and the ability to take cryptocurrencies with a higher interest rate than usual.

The firm was established in 2017 to mimic banks in the cryptocurrency industry, with the eventual goal of providing cryptocurrency-denominated credit cards. Starting in January 2018, it began lending fiat cash against cryptocurrency collateral.

What Coins Does BlockFi Offer?

BlockFi currently supports ten cryptocurrencies, 6 of which are altcoins and 4 stablecoins. Bitcoin (BTC), Paxos Standard (PAX), Ethereum (ETH), PAX Gold (PAXG), Litecoin (LTC), Chainlink (LINK), USD Coin (USDC), Tether (USDT), Gemini Dollar (GUSD), Binance USD (BUSD).

BlockFi Features

Some of BlockFi’s best features include:

  • High-Interest Rates On Your Crypto Holdings; you can earn up to 8.6% interests.
  • No minimum balance and no hidden fees.
  • BlockFi Bitcoin Reward Credit Card pays 1.5% cashback in BTC and automatically adds it to your BlockFi account
  • Recurring Purchases Feature; you can set up cryptocurrency purchases on a daily, weekly, or monthly basis.

You can read more about BlockFi’s features on our full BlockFi review.

BlockFi Fees

For trading on their exchange, BlockFi does not charge transaction fees. However. You’ll pay withdrawal costs once you exceed the free withdrawal you’re given every month, and you’ll also have to pay origination fees and interest on cryptocurrency-backed loans you borrow through the platform.

How To Sign Up With BlockFi

#1 Visit BlockFi‘s page. Click on the Get Started button. 

#2 Fill in some basic information. (important: you have to use the referral code PARTNER250 before continuing – you will not be able to use it after you create your account, and you will miss out on the bonus).

#3 Fill in your address – keep in mind they are required to ask these questions, you can click on the Why do we need this information section for more details.

#4 Enter your phone number – you will receive a verification code to your phone.

#5 Answer how many transactions you will make each month, this won’t affect your account in any way, it’s just so they can improve their service for heavy traders.

#6 The last step is to verify your identity using an ID document (passport, driver’s license, ID card) and fund your account.

BlockFi’s Referral Program

After creating your BlockFi account, you will find your referral link in your profile in the Referral section. You and your referee will receive $10 worth of BTC; the only catch is that your referee has to fund their account with at least $100 and hold these funds for 30 days. With your referral code, you can:

  • Share your code via text, email, or your social media audience.
  • Once a referee signs up and funds their account for $100, both will receive $10 worth of BTC credited to each of your wallets. 
  • There’s no limit to how many people you can invite. 

Is BlockFi Safe?

Yes, BlockFi is a secure cryptocurrency exchange. It takes various security precautions to safeguard your funds and ensure money availability, including handing reserves over to third parties (including Gemini and Coinbase).

BlockFi is a custodian that is both state-regulated and backed by respectable investors. Valar Ventures, Morgan Creek Capital Management, Coinbase Ventures, and others.

Is BlockFi Legal In Canada?

Yes, BlockFi is a legitimate crypto exchange, and it’s legal to use in Canada. BlockFi operates within U.S. federal and state regulations, and it also complies with Canadian laws.

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Trading fees: 0.2%
Security: 95% cold storage
Signup bonus: $50

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I recently broke down 10+ of Canada’s most popular crypto platforms, and CoinSmart came out on top. It scored so well because it excels on what I believe are the three most important factors when choosing a crypto platform: fees, security, and customer support.

Here’s how CoinSmart performs in each of those areas, and why I believe it’s the best crypto trading platform in Canada. And to get your $50 signup bonus with CoinSmart, use this signup link and the special promo code YOREOYSTER.

#1 Lowest Fees In The Industry

CoinSmart’s trading fees are just 0.20%, the lowest of any crypto platform in Canada. And those savings add up quickly: if you trade $100,000 worth of Bitcoin in a given year (buying and selling $25,000 worth twice), you’ll save $800 in trading fees compared to a platform that charges 1% ($200 vs. $1,000).

Perhaps more important than trading fees, though, are spreads: the difference between the Buy price and the Sell price. CoinSmart has razor-thin spreads, which makes day trading possible and keeps more money in your pocket.

#2 Bank-Level Security

CoinSmart maintains a 95% cold storage policy, which means at least 95% of its users’ crypto is always held offline. This is a security measure that only the most advanced trading platforms employ, and CoinSmart is leading the charge.

CoinSmart is also the only publicly traded crypto platform in Canada, which means it’s subject to far more financial scrutiny than any other platform. It’s regulated by FINTRAC (the Financial Transactions and Report Analysis Centre of Canada) and the OSC (Ontario Securities Commission), and its financials are audited by external professionals at least once per year.

#3 Excellent Customer Support

CoinSmart offers 24/7 customer support via phone, live chat, and email, and their customer service reps are actually helpful rather than just following a script. I’ve never had to wait more than about 60 seconds on hold, and they’re very responsive via live chat and email, too. 

The only time I ran into an issue with CoinSmart, I called them and had it sorted out within 5 minutes. Keep in mind that telephone and live chat support is only available for registered users, so if you have a question for CoinSmart, the best way to get it answered is to open an account

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Offer ends May 19.

Conclusion

BlockFi is a crypto-asset lending firm based in New York that provides loans in US dollars against Bitcoin and other cryptocurrency assets. It has a few unique features not found on other platforms, such as its BlockFi Interest Accounts and BlockFi Bitcoin Rewards Credit Cards.

BlockFi has a referral program in place to benefit its clients: by using the referral code PARTNER250 (or the link), you will receive a bonus ranging from $15 to $250 worth of BTC. You will also receive your referral code, which you can use to invite friends and earn an additional $10 worth of BTC after they fund their account.

Before You Go

Here are the best sign-up bonuses available right now. If you’re planning to sign up for any of these services, we recommend you take advantage of these bonuses:

Crypto Exchange Signup Bonuses:

Crypto Hardware Wallets:

Online Bank Referral Bonuses:

Online Broker Sign up Bonuses:

Robo Advisor Sign up Bonuses:

Other Everyday Bonuses:

The Best Crypto Exchanges In Canada

Best Overall

Supports: 16 cryptocurrencies
Security: 95% cold storage
Trading fees: 0.2%

$50 bonus ends May 19.

★★★★★

Rated 4.9/5

Lowest Fees

Supports: 17 cryptocurrencies
Security: 95% cold storage
Trading fees: 0.1% - 0.2%

Free account, instant verification

★★★★★

Rated 4.8/5

Best For Altcoins

Trading fees: 0.4%
Security: 95% cold storage
Signup bonus: $10

Trade with 10x leverage.

★★★★

Rated 4.2/5