Rewards Flex* allows BlockFi Rewards Credit cardholders to choose the currency their rewards are paid in. When we first launched the card, for the first 4 months, cardholders could only receive Bitcoin as a reward. Now with Rewards Flex you can choose to receive rewards in any of the offered currencies in the US!
This means you can keep earning BTC rewards, or opt for Ether (ETH), Litecoin (LTC), Chainlink (LINK), PAX Gold (PAXG), Basic Attention Token (BAT), Uniswap (UNI), Algorand (ALGO), Bitcoin Cash (BCH) or Dogecoin (DOGE) at the same 1.5% back rewards rate.
You can also opt instead for stablecoin rewards and earn the same 1.5% back in Gemini Dollar (GUSD), USD Coin (USDC), Paxos Standard (PAX), Multi-Collateral Dai (DAI), or Binance USD (BUSD). This allows you to easily diversify your assets without having to buy additional crypto.
The Rewards Flex feature is a convenient way to diversify your crypto portfolio, and gives you the freedom and flexibility to adapt to market conditions. Best of all, you can change the cryptoasset reward you want to receive as many times as you want.**
To change your BlockFi Rewards Card currency, here’s what you need to do:
- Sign in to blockfi.com
- Click on ‘Credit Card’ > ‘Rewards’
- In the ‘Manage Rewards’ section, click the dropdown menu under ‘Rewards Currency’
- Select the cryptoasset you want to earn rewards in
**Please note that you can only earn rewards in one cryptoasset per month—not multiple—and you’ll earn rewards in the cryptoasset that you have selected on the last day of the prior month, at 11:59:59 UTC.
For example, if you choose to flex rewards into ETH on 11/30, your November rewards will be redeemed in ETH on the December payout date.
Please also note that Rewards Flex will affect the cryptoasset of all of your rewards in a given redemption period. However, for the Refer-a-Friend Boost:
- As the referrer, you will receive the regular RAF bonus in $10 BTC and the boosted $30 in the Rewards Flex currency chosen
- As the referee, you will receive the regular RAF bonus in $10 BTC and the boosted $30 in BTC
The total amount of rewards you receive will be based on the applicable market price of bitcoin at the time of rewards disbursement (subject to applicable fees). There is a ~1% spread applied when your rewards are redeemed. For more detailed information please see the BlockFi Rewards Program and Crypto Rewards Account Terms.