BlockFi Review Australia – Is It A Reliable Platform?

If You are in search of an unbiased BlockFi review Australia, you have landed up at the right place

BlockFi is a holistic cryptocurrency platform that aims to make investing in cryptocurrencies easy and accessible to everyone, whether that means you are looking to purchase the next bitcoin or simply want to buy some ripple.

BlockFi is the world’s first holistic cryptocurrency platform that offers investors access to hedge and income-generating crypto investments. 

BlockFi Review Australia – Is This Lending Platform Legit?

BlockFi is a cryptocurrency trading platform that offers an algorithmic approach to the exchange market. With BlockFi exchange, users can automate their trading by having artificial intelligence make all the trade decisions for them according to specific parameters. 

BlockFi Review Australia 19-04-2022

With Automated trading, you get a lot of trading benefits without worrying much about risks.

In this BlockFi review Australia, we are going to dive deeper into the technical aspects of this crypto exchange and discuss some of the key features to make sure that you get an insightful view of the entire exchange and it can assist you in taking the right decision. 

Platform NameBlockFi
Founded In2017
Founded ByZac Prince and Flori Marquez
Key Features
  • Interest On Holdings
  • Bitcoin Rewards Credit Card
  • Automated Trading
  • Wallet
  • Cryptocurrency Supported
  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Litecoin (LTC)
  • Paxos Standard (PAX)
  • PAX Gold (PAXG)
  • Interest RateUp to 7.5%
    Interest Payment FrequencyMonthly
    ProsFull control over your private keys
    ConsExpensive for beginners
     Customer Support24/7 Support available

    What Is BlockFi?

    BlockFi is a holistic cryptocurrency ecosystem for traders and investors. BlockFi offers automated cryptocurrency lending and makes it easy for people to buy or sell bitcoins as an investment.


    It also has an interesting business model where they offer interest on the crypto you lend them and then take advantage of the volatility in order to help grow your money

    BlockFi lending platform allows users to invest in a secure, low-cost, and transparent cryptocurrency portfolio with both cryptocurrencies and fiat currency

    BlockFi offers progressive investors a new way to take advantage of cryptocurrency investing by offering passive income through algorithmic trading.

    Key Points on BlockFi

    Decentralized, secure wallet – BlockFi is a decentralized, algorithmic platform that allows you to send and receive crypto without the need for a bank account. On the BlockFi platform, you have the option of having your crypto assets securely stored on a single wallet address or multiple addresses. 

    Competitive interest – BlockFi lending platform offers interest rates between 7-12% on its crypto loans. You can also earn 50% of the platform’s profits each month by lending out your assets.
    Fee-free deposits – BlockFi does not charge fees for crypto deposits. You can deposit over $5 million worth of crypto without paying a fee. 

    Instant loans – BlockFi is not affiliated with any particular service provider. Any service provider that accepts a loan from BlockFi will be matched with an interested applicant via an automated matching algorithm and issued a loan contract. 

    Asset-backed loans – BlockFi also offers cryptocurrency-backed loans. When you choose to open a loan, you will have the opportunity to lock up your assets in collateral. The platform holds your assets in escrow until the end of the loan period. 

    BlockFi Review Australia – Features  

    BlockFi is a crypto-currency trading platform that facilitates the institutionalization of digital currencies. BlockFi provides additional services to Fiat-to-BlockFi transactions including over-the-game transactional anonymity, as well as customized reporting for institutions.

    BlockFi is a decentralized platform to make the secure storage of keys and the trading of cryptocurrency easier.

    BlockFi has a friendly and user-friendly interface while using universal cryptographic signatures, making it easy for users to use their wallets securely.

    With its BlockFi cardholders, it is the first digital asset company to offer an alternative way to carry and store your cryptocurrency.

    BlockFi app gives you the option to store different types of cryptocurrencies in its cold-storage, offline vault where only you have access to your keys. 

    Interest On Holdings 

    BlockFi provides 8.5 % interest per year on your holdings. Investors can earn interest on their holdings in a number of ways, including staking and/or locking up a certain amount of coins for long periods of time, trading at different margins, using margin trading, and transferring funds to the exchange. 

    Bitcoin Rewards Credit Card

    With a BlockFi credit card, you will get 1.5% back in crypto. BlockFi platform lets you easily spend your crypto and convert it to fiat at the best exchange rates, without any fees whatsoever. BlockFi’s hot wallet service allows you to send, receive and store cryptocurrency. We have a simple and friendly interface that is easy to use. It will provide a basic level of security to your coins as they are stored in our hot wallet.

    Automated Trading

    BlockFi is an automated trading platform that allows its users to trade Bitcoin, Ethereum, and Litecoin futures markets without needing any experience. This powerful service lets you turn your fiat into cryptocurrency without having to spend hours watching market trends or jumping from one exchange site to another. 


    The BlockFi wallet is fully collateralized by your USD balance and can be turned into cash in minutes, making it one of the safest options out there for people who have been burned by cryptos. Does this mean you can withdraw at any time, even with just a few dollars, or use it on everyday purchases seamlessly with no fees

    BlockFi Review AustraliaHow Does BlockFi Work?

    BlockFi is a blockchain-based platform for deploying and managing debt. The BlockFi platform enables individuals to borrow money against the value of their crypto assets with 0% interest rates and no credit score requirement.

    BlockFi exchange can be used as a traditional fiat-based loan or syndicated among other investors to fully collateralize your assets.

    If you don’t have the assets to collateralize, BlockFi app is a fully decentralized platform that requires no trust or intermediary in order to access capital.

    BlockFi makes use of the 0x protocol in order to provide decentralized services. By using the BlockFi 0x Connector, individuals and institutions can gain exposure to crypto-assets.

    BlockFi Interest Account  

    BlockFi interest account is the heart of BlockFi’s lending ecosystem. The interest account holds collateralized cryptocurrency and acts as the menagerie for these assets.

    Blockchain-based smart contracts handle all operations within the protocol and ensure you have complete transparency and security in your loan transactions. 

    BlockFi investors can participate in syndicated loans both as individual lenders or through their exchange-listed funds, including BlockFi’s EBST token.

    BlockFi runs on two main platforms: one that enables users to borrow against their crypto assets and another that handles syndication on multiple levels via the 0x network

    Blockfi’s mission is to make borrowing against crypto simple, secure, and free.-BlockFi Trading 

    The best information we have regarding the way in which crypto trading works at BlockFi is through Forex trading, which is the buying and selling of various currencies. 

    This can be done through brokers or simply through a peer-to-peer marketplace. One of the most important parts of this system is the ability to be able to enter into a contract for difference (CFD).

    A CFD contract allows you to make money by speculating on market movements without owning any assets directly. This means that you’re able to earn money from Bitcoin even though you don’t own it!

    Crypto-Backed Loans

    Crypto-backed loans are a new way that you can put your cryptocurrency in a form of security such as property as collateral for the loan.

    This is an innovative new form of lending, which means instead of lending money, it lends cryptocurrency and the borrower uses their crypto as loan collateral. This strategy has been dubbed the “financial revolution”.

    BlockFi crypto-backed loan is a collateralized loan that uses your cryptocurrency assets as collateral. There are many cryptocurrencies available and each of them is an asset. The value of the assets depends on the performance of the currencies and the market situation.

    Is BlockFi Legitimate?  

    BlockFi is a money-management platform with an interesting proposition: all investment transactions are made directly to and from your cryptocurrency wallet. BlockFi exchange is advertised as a way to build your own cryptocurrency portfolio, but is it really? Yes!

    BlockFi became an instant success among investors in the space. The company eventually received $30 million in investments.

    The company claims that they are now backed by one of the most respected venture capital firms in the world, New Enterprise Associates (NEA). The investors in BlockFi include some big names like AT&T, Bank of New York Mellon, Comcast Ventures, and Rockefeller Family Fund.

    Can BlockFi Be Hacked?  

    BlockFi exchange doesn’t let you use your money as a guarantee, meaning that the hackers can’t access your funds. They have also never accepted anything other than crypto.  But what about the people who have taken out loans?

    Depositors have been issued a short-term bitcoin IOU, which is actually just a different representation of your Bitcoin deposit.

    As far as we can tell, the depositors’ funds are still secure.  But they could be stolen in the case of a theft. BlockFi claims that the BlockFi tokens cannot be used for speculative trading and are therefore not subject to market volatility.

    Does BlockFi Have A Mobile App?  

    Yes. BlockFi has a mobile app. BlockFi is a cryptocurrency trading app that offers instant, anonymous and secure trading on the go. Unlike traditional exchanges, BlockFi app doesn’t charge fees or require you to provide any personal information. The app is available for free on iOS and Android.

    BlockFi Mobile App

    The user interface is simple, fast, and intuitive. Besides trading Bitcoin, you can trade other cryptocurrencies like Ethereum, Litecoin, and many more through Fiat. It’s a perfect mix between exchanges and mobile wallets.

    BlockFi Review Australia – Cryptocurrencies Available

    Having diversity in your crypto assets is one of the key principles in trading to reduce the risk up to a significant level. If you keep all your eggs in the same basket then you will never be able to sleep peacefully.

    Hence, having a trading exchange that provides support for most of the chief coins in the market makes your job much easier. This is the list of the supported coins by BlockFi so that you can know whether this trading exchange will be able to provide you with what you are looking for. 

    • Bitcoin (BTC)
    • LINK (LINK)
    • Ethereum (ETH)
    • Litecoin (LTC)
    • Paxos Standard (PAX)
    • PAX Gold (PAXG)

    BlockFi Fee and Limits

    Just like your bank, the BlockFi lending platform is conservative with the money you deposit. They try to keep a balance between earning interest and keeping your savings safe.

    They do this by imposing limits on either withdrawals or deposits depending on the type of cryptocurrency you have deposited.

    For example, if you have deposited Bitcoin, they may limit withdrawals to your daily average balance or may limit them to a percentage of your deposit. They also impose limits on deposits because they don’t want to encourage speculative behavior.

    If you choose to deposit fiat or stable coins (GUSD, USDC, BUSD, PAX, DAI, USDT) at BlockFi they do not impose limits on your account.

    BlockFi Security 

     BlockFi safety features are designed to protect both the borrower and the lender. Each loan is assigned a unique ID that is stored on the blockchain.

    The BlockFi security team reviews loans regularly and compares each loan with other loans in its portfolio to ensure that all loans have been properly authenticated. 

    BlockFi is a decentralized crypto lending platform and one of the first to offer fixed rates with collateralized loans in traditional currencies.

    All loans are over-collateralized and interest is paid out daily. Borrowing is simple and is done without hassle. Strict security measures are taken to prevent theft and hacking.

    BlockFi Pros and Cons 

    In this segment of BlockFi Review Australia, we are going to discuss some of the pros and cons of using BlockFi. You will have a better idea about the product after going through both sides of the coin. 


    • Easy to use and user-friendly crypto lending platform.   
    • Ability to have your own crypto portfolio
    • Full control over your private keys
    • Interest in your crypto
    • Fiat availability 
    • Secure


    • Limited options to deposit fiat
    • Expensive for beginners

    BlockFi Customer Support

    BlockFi exchange has customer support representatives available around the clock, in just about every time zone.

    They’re on hand to take your call 24/7 and answer any questions that you might have, as well as field any problems or issues that you might be having with your account.

    BlockFi is committed to the well-being of its customers. That’s why they offer 24 hr support and a 7-day phone line, to ensure that your questions are answered quickly and efficiently. You can also find help in the knowledge base.

    BlockFi is a crypto lending and borrowing platform that was designed to make it easier for financial institutions and individuals with more knowledge of cryptocurrency.

    BlockFi Review Australia – Final Verdict

    BlockFi is a blockchain-based platform with its own wallet and built-in exchange which makes it possible to buy and sell cryptocurrency without ever having an account or a password.

    BlockFi is an extremely innovative project with various goals in mind. The primary goal is to create a platform that lets users trade, lend and borrow crypto without ever having to open an account or set up a password. 

    The platform also has a fascinating goal of acting as a cryptocurrency marketplace, where exchanges, investors, and traders all can interact. The only process you need to take is that of opening an account at the BlockFi website.

    We hope that this BlockFi review Australia will be able to assist you in making an informed decision regarding your next crypto trading solution.

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