Rewards Flex allows cardholders to choose the crypto asset their rewards are paid in. When we first launched the card, Bitcoin was the only asset available to receive rewards in. Now with Rewards Flex, cardholders can choose to receive rewards in any of the offered crypto assets 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 crypto assets without having to buy additional crypto.
The Rewards Flex feature is a convenient way to diversify your crypto portfolio, and it gives you the freedom and flexibility to adapt to market conditions. Best of all, you can change the crypto asset 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:
- On the web app, click Accounts > Credit Card
- Click Rewards & Benefits > Rewards
- Select the asset you'd like to receive in the dropdown under Rewards Currency
Please note that your Rewards Flex and your Interest Account Flex can be different assets, and changing one does not impact the other.
Also note that you can only earn credit card rewards in one crypto asset per month—not multiple—and you’ll earn rewards in the crypto asset 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 credit card rewards will be paid to your BlockFi Wallet account in ETH on the second Friday of December.
Rewards Flex will affect the crypto asset of all of your credit card rewards (standard 1.5% back, trading bonus, & BlockFi Offers) in a given redemption period. However, for the Refer-a-Friend Boost:
- As the Referrer, you will receive the regular $10 RAF bonus in BTC and the boosted $30 in the Rewards Flex asset chosen.
- As the Referee, you will receive both the regular $10 RAF bonus and the boosted $30 in BTC.
Lastly, keep in mind that the amount of crypto you receive will be based on the applicable market price of the crypto of your choosing at the time of rewards disbursement, subject to applicable spreads, charges, or fees. There is a spread applied when your points are redeemed. For more detailed information please see the BlockFi Rewards Program and Crypto Rewards Account Terms.