The BlockFi Rewards Visa® Signature Card stands out as one of the pioneering crypto credit cards, offering users the ability to earn cryptocurrency rewards on everyday spending—instead of traditional cash back or points. Designed for those already immersed in or curious about digital assets, this card lets you accumulate rewards in over 10 different cryptocurrencies, including bitcoin, ether, litecoin, and various stablecoins.
Backed by Visa, the card is widely accepted and comes with no annual or foreign transaction fees. While it shares structural similarities with conventional rewards cards, its integration with BlockFi’s broader crypto ecosystem adds unique utility—making it a compelling option for tech-savvy consumers and crypto enthusiasts alike.
👉 Discover how you can start earning crypto on every purchase today.
How the BlockFi Rewards Card Works
At its core, the BlockFi Rewards Visa Signature Card functions like a standard flat-rate rewards credit card—but with a digital asset twist. Every purchase earns you 1.5% in crypto of your choice, paid out monthly. There’s no complex tier system or rotating categories: simplicity is key.
To qualify, applicants typically need good to excellent credit. Once approved, you must link your account to an existing BlockFi investment account, where your rewards are stored and managed. This integration enables advanced features such as transferring rewards to external wallets and accessing lending services against your crypto holdings.
One important consideration: while credit card purchase rewards are currently not taxed as income, referral bonuses earned through the program are taxable. Always consult a tax professional to understand your obligations, especially given the evolving regulatory landscape around digital assets.
Maximize Your Earnings: Base and Bonus Rewards
The base reward rate of 1.5% in crypto on all purchases is competitive, especially compared to other crypto cards that limit rewards to specific categories. But BlockFi goes further with two key ways to boost earnings:
1. BlockFi Offers – Up to 10% Extra at Popular Brands
Through the BlockFi Offers program, cardholders can earn bonus rewards—up to 10% at select retailers—on top of the standard 1.5%. Participating brands include well-known names like:
- Adidas
- Shake Shack
- H&M
- Finish Line
- Jared
These offers are automatically applied when you use your card, so there’s no need to activate or track them manually. Combined with the base rate, this means you could earn up to 11.5% total in crypto on qualifying purchases.
2. Spend-Based Reward Boost – 2% After $30,000 Annually
For high-volume spenders, the BlockFi card offers a rare perk: once you spend $30,000 in a calendar year, all additional spending earns 2% back in crypto. This elevated rate continues until your next card membership anniversary, when the threshold resets.
This feature places the BlockFi card among a small group of elite rewards cards—like the X1 Card—that reward loyal, consistent spending with higher returns.
👉 Learn how top spenders unlock maximum crypto rewards each year.
Choose Your Crypto: Flexibility That Sets You Apart
One of the most powerful features of the BlockFi Rewards Card is Rewards Flex, which allows you to choose exactly which cryptocurrency you want to receive as rewards. Options include:
- Major Cryptocurrencies: Bitcoin (BTC), Ether (ETH), Litecoin (LTC), Chainlink (LINK)
- DeFi Tokens: Uniswap (UNI), Basic Attention Token (BAT)
- Stablecoins: USD Coin (USDC), Gemini Dollar (GUSD), Paxos Standard (PAX), Binance USD (BUSD)
- Precious Metal-Backed: Pax Gold (PAXG)
You can change your selection at any time through your BlockFi dashboard—giving you full control over your exposure to volatility, inflation hedging, or long-term growth assets.
Rewards are distributed on the second Friday of each month, based on the market price at payout—not when purchases are made. This means timing and price fluctuations may affect the value of your rewards, so strategic planning can enhance outcomes.
Beyond Rewards: Full Crypto Integration
Unlike many crypto cards that restrict access to earned assets, BlockFi gives users real ownership. You can:
- Transfer crypto to your personal wallet for self-custody
- Buy, sell, and trade directly within your BlockFi account
- Take out a USD loan using your crypto as collateral (as low as 4.5% APR)
This level of control is rare in the financial sector and aligns with the decentralized ethos of cryptocurrency. It also reduces reliance on custodial platforms that lack FDIC insurance—important for risk-conscious investors.
Having a linked BlockFi account isn’t just a requirement—it’s an advantage. It transforms the credit card from a simple spending tool into part of a broader financial strategy involving savings, investment, and borrowing.
Referral Bonuses: Earn Free Crypto Just for Sharing
BlockFi incentivizes user growth through a dual-tier referral program—one of the few in the credit card space offering tangible rewards for referrals.
Tier 1: General Account Referrals
Any BlockFi user (cardholder or not) can participate:
- Refer a friend who deposits $100+ into their BlockFi account
- Both parties receive $10 in bitcoin
Tier 2: Credit Card Referrals
Exclusive to cardholders:
- Successfully refer someone to get the BlockFi Rewards Card
- You both receive $30 in crypto (yours in your chosen Rewards Flex currency)
Keep in mind: referral bonuses are considered taxable income by the IRS. BlockFi will issue a Form 1099-MISC for these earnings, so proper reporting is essential.
👉 See how easy it is to grow your crypto balance through referrals.
Tax and Regulatory Considerations
While crypto rewards from purchases are currently not treated as taxable income, this could change as legislation evolves. The U.S. government has yet to finalize clear rules around crypto taxation, particularly regarding capital gains on rewards.
In contrast, referral bonuses are already taxable because they’re classified as earned income—not tied to spending. This distinction is crucial for compliance.
Additionally, BlockFi suspended its Interest Accounts in 2022 following SEC regulatory action. While this service may return under new compliance frameworks, it underscores the importance of staying informed about regulatory developments when using crypto-linked financial products.
How It Compares to Other Crypto Cards
| Feature | BlockFi Rewards Card | Upgrade Bitcoin Card | Gemini Credit Card |
|---|---|---|---|
| Base Reward Rate | 1.5% in any of 10+ cryptos | 1.5% in bitcoin only | 1%-3% depending on category |
| Crypto Flexibility | High – multiple coins & stablecoins | Low – bitcoin only | High – 60+ cryptos |
| Wallet Withdrawals | Yes | No | Yes |
| Referral Bonus | Yes – up to $30 | No | Yes – $10-$50 |
| Bonus Categories | Yes – via BlockFi Offers | No | Yes – dining, groceries |
Among peers, the Gemini Credit Card offers stronger category-based rewards, but BlockFi wins on consistency (flat 1.5%) and high-spender incentives (2% after $30K). The ability to withdraw to external wallets gives both BlockFi and Gemini an edge over custodial-only platforms.
For those preferring traditional cash back, the Chase Freedom Unlimited® offers a comparable 1.5% flat rate—but without any exposure to crypto growth potential.
Frequently Asked Questions (FAQs)
Q: Can I transfer my crypto rewards to an external wallet?
A: Yes. The BlockFi Rewards Card is one of the few crypto credit cards that allows you to move earned cryptocurrency off-platform and into your personal wallet—giving you full control and improved security.
Q: Are crypto rewards from purchases taxable?
A: As of now, rewards earned through spending are generally not considered taxable income. However, regulations may change, so staying updated on legislative developments is recommended.
Q: What happens if I don’t spend $30,000 in a year?
A: You’ll still earn 1.5% in crypto on all purchases. The 2% boost only applies to spending beyond $30,000 annually and resets each year on your card anniversary.
Q: Which cryptocurrencies can I earn?
A: Over 10 options including bitcoin, ether, litecoin, stablecoins like USDC and GUSD, and tokens like BAT and UNI—all customizable via Rewards Flex.
Q: Is there a foreign transaction fee?
A: No. The BlockFi Rewards Card charges no foreign transaction fees, making it ideal for international travel or overseas purchases.
Q: Do I need a BlockFi account to apply?
A: Yes. You must have an active BlockFi investment account to qualify for and manage the credit card and its rewards.
By blending simplicity, flexibility, and real financial utility, the BlockFi Rewards Visa Signature Card offers a forward-thinking way to integrate cryptocurrency into daily life—not just as an investment, but as a functional part of modern spending and saving.