Name: BlockFi Prime (discontinued)
Rating: 8.7 (5 reviews)
Author: Discontinued Products

Help Desk

Web and Video Conferencing

Customer Support

Innovation Management

PHP Frameworks

Development

Business Intelligence (BI)

Collaboration

Manufacturing Execution

Payment Facilitation

Quality Management

Enterprise

Accounting

Blockchain Payments

Merger and Acquisition

Payment Hubs

Finance and Accounting

Applicant Tracking

Corporate Learning Management

Employer of Record (EOR)

HR Management

Payroll

Talent Intelligence

Talent Management

Workforce Analytics

Workforce Management

Human Resources

AIOps

Bot Mitigation

Cloud Storage

Container Security

Data Center Outsourcing (Canada)

Data Center Power

Data Replication

Endpoint Security

Firewall

Fraud Detection

Graph Database

Infrastructure-as-a-Service

Integration Platform as a Service (iPaaS)

LAN Switches

Mobile Data Security

Network Performance Monitoring

Network Troubleshooting

SQL Server Performance Monitoring

Scale-Out Storage

Secure Access Control

Smart Contracts

Testing Services

Information Technology

A/B Testing

Ad Serving & Retargeting

All-in-One Marketing

Content Management

Email Marketing

Grant Management Software

IP Geolocation

Marketing Attribution

Marketing Automation

Social Media Management

Survey & Forms Building

Translation

Web Analytics

Marketing

Project Management

Task Management

Professional Services

Customer Relationship Management (CRM)

Intelligent Virtual Assistant

Sales Dialer

Sales Training

Sales

Data-Centric Audit Protection (DCAP)

Security

Aviation

Emergency Notification

Fleet Maintenance

Hospital Management

Hotel Management

Retail Analytics

Revenue Cycle Management (RCM)

Shipping

Veterinary

Warranty Management

Vertical-Specific

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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.

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.

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 enabling them to offer customers crypto (Coinbase Prime), crypto asset custody (Coinbase Custody), and a wallet to self-store crypto (Coinbase Wallet).

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$10-50K

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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.

Starter

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BlockFi Prime (discontinued)

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TrustRadius is a technology and business research firm based in Austin, Texas. The company is known as a review platform for verified B2B technology and software reviews through a proprietary algorithm and human verification.

BlockFi Prime (discontinued)

Overview

What is BlockFi Prime (discontinued)?