Skip to main content
TrustRadius
BlockFi Prime (discontinued)

BlockFi Prime (discontinued)

Overview

What is BlockFi Prime (discontinued)?

BlockFi Prime (discontinued) was a product offered by BlockFi, a cryptocurrency lending platform. According to the vendor, it provided services specifically tailored for institutional clients, including high net worth individuals, family offices, hedge funds, and other financial institutions. BlockFi...

Read more
Recent Reviews

TrustRadius Insights

Wider range of cryptocurrency options: Several users have praised BlockFi for supporting a larger number of cryptocurrencies than other …
Continue reading
TrustRadius

Leaving a review helps other professionals like you evaluate Online Trading Systems and Platforms

Be the first one in your network to review BlockFi Prime (discontinued), and make your voice heard!

Return to navigation

Pricing

View all pricing
N/A
Unavailable

What is BlockFi Prime (discontinued)?

BlockFi Prime is a crypto-trading platform that provides 24/7 access to cryptocurrency markets and loans working capital for trading purposes. On November 28, 2022, BlockFi filed chapter 11 bankruptcy.

Entry-level set up fee?

  • No setup fee
For the latest information on pricing, visithttps://blockfi.com/rates

Offerings

  • Free Trial
  • Free/Freemium Version
  • Premium Consulting/Integration Services

Would you like us to let the vendor know that you want pricing?

Alternatives Pricing

What is Coinbase?

Coinbase is a digital currency exchange (Coinbase Pro) and crypto-oriented software solution suite for businesses, including hosted checkout pages, payment buttons, invoicing, and multiple ecommerce integrations (Coinbase Commerce), a turnkey solution for brokerages, exchanges, and fintechs…

What is Shrimpy?

Shrimpy, headquartered in Santa Clara, is a social trading platform for cryptocurrency. It is presented as a simple way to manage a portfolio by automating the user's trading strategy.

Return to navigation

Product Details

What is BlockFi Prime (discontinued)?

BlockFi Prime (discontinued) was a product offered by BlockFi, a cryptocurrency lending platform. According to the vendor, it provided services specifically tailored for institutional clients, including high net worth individuals, family offices, hedge funds, and other financial institutions. BlockFi Prime aimed to offer institutional-grade trading and investment solutions for digital assets, catering to the needs of large institutional clients in the financial industry.

Key Features

Loan Repayment Program: According to the vendor, clients had the option to repay the principal balance of their loan in the same kind of cryptocurrency that they deposited as collateral, without affecting the recovery rate on the collateral.

Client Security Awareness: The vendor alerted clients about increasing attempts from malicious actors targeting BlockFi clients and advised them to remain vigilant and report any suspicious activity.

Proof of Claim FAQs: BlockFi offered a blog post addressing common questions related to the proof of claims process, providing general information and directing inquiries to the blog post.

Wallet Withdrawals FAQs: BlockFi was authorized to reopen withdrawals for eligible account holders, providing general information about the authorization and the process of withdrawals from BlockFi Wallet accounts.

Voting FAQs: BlockFi provided general information about the solicitation process and answered frequently asked questions regarding voting, aiming to provide clarity on the voting process.

How do I enable 2FA on my BlockFi account?: According to the vendor, clients were provided with instructions on enabling two-factor authentication (2FA) on their BlockFi account, enhancing the security of their accounts.

I lost my 2FA Code, how can I access my account again?: The vendor provided instructions to help clients reset their 2FA enrollment if they lost their 2FA code, ensuring they could regain access to their accounts.

Can I download Transaction History / CSV?: According to the vendor, clients could access and review their transaction history, including wire transfers, ACH transfers, and trades, on the BlockFi platform, providing transparency and easy access to their transaction records.

How to Utilize Allowlisting: Clients had the option to add external crypto wallet addresses to the Wallet Address Book, enabling pre-selection of frequently used addresses when making withdrawals and adding an extra layer of security to their BlockFi accounts.

BlockFi Prime (discontinued) Technical Details

Operating SystemsUnspecified
Mobile ApplicationNo
Return to navigation

Comparisons

View all alternatives
Return to navigation

Reviews

Community Insights

TrustRadius Insights are summaries of user sentiment data from TrustRadius reviews and, when necessary, 3rd-party data sources. Have feedback on this content? Let us know!

Wider range of cryptocurrency options: Several users have praised BlockFi for supporting a larger number of cryptocurrencies than other platforms, giving them a wider range of options to choose from and invest in.

Seamless dollar-cost averaging investment process: Many reviewers have found BlockFi's dollar-cost averaging investment process to be seamless, allowing them to invest in a diversified portfolio of cryptocurrencies without much hassle.

Useful credit card feature: A significant number of users have appreciated BlockFi's credit card feature, which allows them to earn crypto back in rewards for their purchases. This has made it easier for them to accumulate more cryptocurrencies without putting in extra effort.

Long Withdrawal Delays: Some users have reported long delays between withdrawals on BlockFi Prime. This has been a major issue for many users who find it frustrating to wait for their funds.

Extra Fees for Multiple Withdrawals: Several reviewers have mentioned that BlockFi Prime charges extra fees for multiple withdrawals in a month, which can be discouraging for investors who want to increase their risk without paying more.

Lack of Transparency: Many users have raised concerns about the lack of transparency with regards to interest rates and other factors on BlockFi Prime. The consistently dropping interest rates are also an issue that has been highlighted by several reviewers.

Sorry, no reviews are available for this product yet

Return to navigation