Testing Blockfi.com interest account with USDC $960 taking advantage of $100 in BTC

So I’m getting this email below from blockfi.com indicating I qualified for $100 in BTC for new account deposit. I tried to read it carefully and I didn’t see anything that said I would not be qualified such as if this is limit to the first 500 new customers. So I think I qualified for the $100 in BTC bonus.

The deposit I will be making is for $967.37 in USDC coin from my Bittrex account to Blockfi. I attempted to get GUSD but that didn’t work from Bittrex to HitBTC then BitBTC to GUSD, something wrong with the USDT to USDT Between Bittrex and HitBTC, so I ended up trading USDT to USDC on Bitrrex and then move to Blockfi.com

So I clicked on the link from the email to get the $100 BTC bonus then checked my Blockfi account make sure I am still consider as new customer making my first deposit to the interest account. Then I created a a deposit address for USDC in Blockfi then transfer the USDC from Bittrex to Blockfi.com

This is the initial transaction from Bittrex to https://etherscan.io/token/xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48?a=0x8659ca3dcc8e4c293a4a02af125a3678d106158

Immediately I got an email message from Blockfi saying “We’ve received your 967.372926 USDC. These funds will be available for use at BlockFi after they have 12 confirmations on the USDC blockchain network, which should occur in approximately 30 minutes.”

Then a couple minutes later I received this message from Blockfi “The 967.372926 USDC you sent BlockFi has been confirmed. These funds are now stored in your BlockFi Interest Account.”

I went into Blockfi.com my account and clicked on “Account Summary” and there I can see my “$967.37”

So the question now is, when will I receive my $100 in BTC as promised by Blockfi? and also need to monitor the interest starting next month. If I’m not mistaken, the interest is 8.6% annually, so each month I should be getting about $7 a month, however understanding that the withdrawal fees from Blockfi is very expensive, so I will be verifying that next month to see what’s the withdrawal fee is for $7 profit withdraw, if I recall back correctly, it like $50-$100 which doesn’t make sense if you want to withdraw $7 have to pay $50-$100. Even for long term, $50-$100 total fees is ridiculous since a $967 investment yield only $84 a year and if withdrawal cost $50-$100 it’s a loss for small investment. So will verify this next month, stay tuned.

On Thursday, May 14, 2020, 11:48:57 AM EDT, BlockFi <[email protected]> wrote:

BlockFi_Logo_Watermark_White-01

Great news! We’ve extended the deadline for our halving promotion by an extra day. That means you have until May 15 at 23:59:59 UTC to fund a new BlockFi Interest Account (BIA) with $200 or more to earn an extra $100 in BTC on us.

Don’t pass up this opportunity to earn more BTC. Just fund your account with $200 or more to start reaping the benefits.

GET YOUR BONUS

If you’d like to transfer funds into your BIA from Coinbase, just follow these steps:

Sign in to Coinbase and go to the “accounts” tab on the navigation bar.
Find your cryptocurrency wallet of choice.
Initiate the transfer process by clicking the “send” button. You will be prompted for the destination address.
Enter the BlockFi wallet address found in your BIA dashboard. You can copy and paste the address from your BIA account in this field.
For more detailed instructions, check out our full guide on Coinbase transfers.

You can also fund your account with USD through a wire transfer.* Here’s what you’ll need to do:

Click on “Deposit” within your BlockFi Interest Account.
Select “USD (as Stablecoin)” as the currency of deposit.
Follow BlockFi Wire instructions.
Send a Wire Transfer from your bank by using the USD Wire instructions as shown on your Dashboard.
For more detailed instructions and information on wire processing times, please read our USD wiring guide.

START A WIRE

If you’d prefer to transfer GUSD to BlockFi, you can do so directly through Gemini. Here’s how:

Sign up and deposit USD into Gemini via an ACH or Wire transfer.
Withdraw GUSD from Gemini to your BlockFi GUSD address (grab the GUSD deposit address from your BlockFi dashboard) by converting USD to GUSD.
For additional details, please see our GUSD transfer guide.

Copyright © 2020. BlockFi, All rights reserved.

Contact Us
[email protected]
(646)-779-9688
201 Montgomery Street, Second Floor, Suite 263
Jersey City, New Jersey 07302

Disclaimer

This is a marketing email developed as marketing material for the BlockFi brand. Some of our emails may contain marketing links, which means we will receive a commission for purchases made via those links. Rates for BlockFi products are subject to change. Digital currency is not legal tender, is not backed by the government, and BIA accounts are not subject to FDIC or SIPC protections. Cryptoassets are deposited into an account with Gemini or BitGo, our primary custodians and licensed depository trusts.

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

*Disclaimer: wire availability depends on state jurisdiction and may not be available in some states.

Please note: In order to qualify for promotion, funds must post to your account by May 15, 2020 regardless of delays due to bank processing time and/or wire restrictions.

All USD values are based on the current price available from Gemini.

BlockFi, 201 Montgomery Street, Second Floor, Suite 263, Jersey City, NJ 07302, USA, 646-779-9688

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