The era of traditional cash-back rewards is fading — a new wave of financial innovation has arrived. With the official launch of the BlockFi Rewards Visa® Signature Credit Card, everyday spending can now translate into cryptocurrency earnings. Announced in late 2020, this groundbreaking card has generated massive anticipation, drawing hundreds of thousands of crypto enthusiasts to its waitlist. Now, in mid-2025, BlockFi has begun rolling out the card to select applicants — and the opportunity to join is still wide open.
But this isn’t just another rewards card. It’s a bridge between daily consumer habits and the fast-evolving world of digital assets. Designed for those already invested in or curious about cryptocurrency, the BlockFi card redefines what credit card rewards can be.
👉 Discover how you can start earning crypto on every purchase today.
How the BlockFi Crypto Credit Card Works
Unlike conventional credit cards that offer points, miles, or cash back, the BlockFi card rewards users with cryptocurrency — directly tied to their spending. Here’s how it all comes together.
Earning Cryptocurrency Rewards
Cardholders don’t receive crypto instantly with each transaction. Instead, they earn BlockFi Cryptocurrency Rewards Points, which are automatically converted into actual cryptocurrency and deposited into their BlockFi account — provided the account remains in good standing.
The core earning structure is straightforward:
- Earn 1.5% back in crypto on all purchases
- This translates to 2% back in rewards points on annual spending over $30,000, resetting each year on July 1
While the 1.5% base rate may seem modest compared to some premium travel cards, the real value lies in the form of the reward: digital assets that can appreciate over time. For long-term crypto holders, this passive accumulation strategy can compound significantly.
Beyond spending, additional earning opportunities exist:
- 0.25% back on eligible cryptocurrency trades via BlockFi (capped at $500 in crypto per month)
- $30 in crypto for every successful referral who signs up through your link
These layered incentives make the card especially appealing for active crypto traders and community advocates.
No Hidden Fees, Full Visa Flexibility
One of the most user-friendly aspects of the BlockFi card is its cost structure:
- No annual fee
- No foreign transaction fees
- Operates on the Visa network, ensuring broad acceptance worldwide
This combination makes it not only accessible but also practical for international travelers and online shoppers — a rare advantage in the niche of crypto-linked financial products.
Who Qualifies for the BlockFi Card?
While the card is open to new applicants, access is still being rolled out gradually through a public waitlist. As of now, BlockFi has not released a timeline for full availability, meaning placement on the list doesn’t guarantee immediate approval.
However, there are ways to improve your position:
- Refer others to join the waitlist using your unique link
- Each referral increases your visibility in the queue
Joining the waitlist is completely free and involves only a soft credit check, which does not impact your credit score. If you’re pre-approved, you’ll be invited to complete a formal application — at which point a hard credit inquiry will be recorded.
According to BlockFi, applicants should have “good to excellent” credit — typically a FICO score of 670 or higher. This ensures responsible borrowing behavior aligns with the platform’s risk management standards.
👉 See if you qualify for a crypto-earning credit card with no annual fee.
Key Limitations to Consider
Despite its innovative appeal, the BlockFi card comes with several important restrictions that potential users should understand before applying.
Geographic Restrictions
The card is currently only available to U.S. residents, and even then, not all states may be eligible. Due to evolving regulatory landscapes around cryptocurrency, BlockFi has not published an updated list of supported states. The terms state that access to the BlockFi platform “may not be available” in certain jurisdictions — leaving some uncertainty for applicants.
Additionally, international use of the online platform carries personal liability:
“If you access the online platform outside the United States, you do so at your own risk and are responsible for compliance with the applicable laws of the country or jurisdiction where you may be located.”
Missing Traditional Features
The BlockFi card prioritizes simplicity and crypto integration over conventional credit card flexibility. Notably absent are:
- Authorized users — you cannot add a spouse or family member to your account
- Balance transfers — no option to consolidate existing debt
- Cash advances — unavailable for emergency liquidity needs
These omissions mean the card is best suited as a supplemental spending tool, not a primary credit solution.
Is This Card Right for You?
The BlockFi Rewards Visa card isn’t designed for everyone — and that’s by design.
It’s ideal for individuals who:
- Already hold or trade cryptocurrency
- Believe in the long-term value of digital assets
- Want to passively grow their crypto portfolio through routine spending
Because cryptocurrency values are highly volatile, rewards earned today could be worth significantly more — or less — tomorrow. Users must be comfortable with this inherent market risk.
For those seeking stability or maximum spending flexibility, traditional cash-back or travel rewards cards may still be preferable. After all, cash offers universal utility: you can use it to buy groceries, pay bills — or invest in crypto yourself when prices dip.
But if you're ready to align your spending with your digital asset strategy, the BlockFi card offers a compelling entry point.
👉 Start turning your daily purchases into crypto growth opportunities now.
Frequently Asked Questions (FAQ)
Q: Can I earn crypto on every purchase?
A: Yes — you earn 1.5% back in cryptocurrency on all purchases, with rewards points converting automatically once deposited.
Q: Do I need to already own crypto to use the card?
A: While not required, having a BlockFi account is necessary since rewards are deposited there. New users can create an account during the application process.
Q: Are there any spending caps on rewards?
A: There is no cap on spending or crypto earned from purchases. However, trade rewards are limited to $500 in crypto per month.
Q: Can I add my partner as an authorized user?
A: No — the card does not support authorized users at this time.
Q: When will the waitlist close?
A: There is no announced closure date. Applications remain open, but distribution continues in phases.
Q: Is my crypto reward protected from market drops?
A: No — like all cryptocurrencies, reward values fluctuate based on market conditions. You assume full market risk once rewards are converted.
Final Thoughts
The BlockFi Rewards Visa® Signature Credit Card represents a bold step forward in merging mainstream finance with decentralized digital economies. It’s not without limitations — from geographic constraints to missing features — but for crypto-savvy consumers, it offers a unique way to earn digital assets simply by living life.
As financial products continue to evolve in 2025 and beyond, expect more innovation at the intersection of spending and asset-building. For now, the BlockFi card stands as one of the first real-world tools enabling users to turn everyday transactions into long-term wealth strategies — all in crypto.
Whether you're a seasoned trader or just beginning your journey into digital finance, this card could be a powerful addition to your toolkit — if you're willing to wait, qualify, and embrace the volatility.
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