CardyrReviews of getblockcard.com

Not impressed. I opened my acct and had to deposit a minimum of $10 to choose my card. I didn't want to deposit to much initially just to be safe so I deposited $43 USDC and only received $3.00 credit in my acct. That exchange rate is obviously not in line with what it should be. Looks like a scam to me. I emailed support but have received no reply as of yet.

Scam Not Sent money here i sent my money in usdt here after sent it sent ant txt and hawe 100 confirmation the support not add my money request money back and support sent me this respondet Unfortunately because this was an unsupported network

The idea behind the card is reasonably solid, but the execution is seriously flawed. The repeated data point referenced here by the BlockCard team is that “BlockCard does not control the TERN price” and it's volatile and it is described in the "how it works" page, is valid. BUT - They explicitly don't tell consumers that they have a secondary price at load time that is an off-market price, so the act of loading can cost 20-40% of the deposit value. THAT is not documented and shared/disclosed. Since they are providing the deposit service to convert other Crytpo assets to TERN - they should disclose anticipated costs of that service (especially when it is a massive portion of the deposit). What they are NOT disclosing is that there is VERY LIMITED liquidity on their internal process/market for doing this. Which if you watch the pricing on “their market”, shows 20-40% movement at each major deposit. In addition, their internal pricing: Published USD/TERN price: (HTTP Removed for post) Internal processing prices when converting [as provided directly from BlockCard] (even from a stable coin) (HTTP Removed for post) As you can see, their internal fills (when you deposit something not TERN [like BTC] and they convert it to TERN for you) is not based on the open market (but a closed market stellar price) and shows significant variance shifts from the open market – see the jagged shape. Any large deposit appears to be disrupting the market (thus the VERY jagged price profile in the chart). Which is why large deposits are missing 20-40% of the face value when finally credited. It does appear that you can game the system by off market TERN deposits – but there is so little liquidity in the asset and minimal market making, so that is not as easy as it might seem. The technology of the platform and user experience is nice. If BlockCard moved to a stable coin like USDC / Tether or a low transaction cost common coin like Litecoin or Bitcoin Cash, the card could be VERY usable. As it sits, it is ONLY usable for small transaction /load amounts. Though the load system is “legal”, it is HIGHLY misleading. Given the lack of open market visibility on the “fills” (converting other crypto to TERN), there is very little transparency on if the anticipated value to be loaded on the card before the user tries instantiating the “load”. There is really very little liquidity, and it is unclear if the company is taking an extra VIG on the transaction as is common in the Foreign Exchange market, so the obvious thought is they are taking excess value (someone is making that money). The company does not publish the prices (exchange rates) of all load transactions and the distribution of all capital flows at each card load. If they did, it would go a LONG way to clarifying if it is just an early market and they lack liquidity (and the solution will get better with time) OR if they and their vendors are taking HUGE fees. My opinion is that the solution could be a good one in the future, but the lack of market liquidity means consumers loosing significant value if they try to use the card for anything other than tiny load values. The Market Makers supporting the loads are making a ton of money and in the process the customer is getting taken advantage of on large card loads.

It works, I made some money using crypto and needed a way to spend the money. I read through all the reviews here, but still decided to take a chance and create an account. I noticed that when I transferred USDT the available balance seemed a lot lower than my initial deposit, so I decided to contact customer support. Customer support got back to me in a timely manner and answered all my questions. The balance does fluctuate quite a bit in the beginning, but it shot back up to around what I initially deposited (minus fees of course). All in all, I was able to setup the card rather easily and make a purchase straight away. Kata at customer support answered all my questions and was very helpful. 5 stars out of 5. This is a great way to spend the cryptocurrency you have earned without any hassles. I will continue to use this service.

So, I’ve had the block card for a few months. I just recently had a $8926.00 (converted from bitcoin) deposit, and since I read about “TERN VALUE DEPRECIATION WITH USAGE” I’ve been keeping track of all of my transactions, have had a total of about 44 transactions, totaling no more then $7800, and keep in mind I’m waiting on about $1200 in refunds, so you do the math, so I’m confused where about $1000+ of my money is? Their is NO EXCUSE. Something EXTREMELY FISHY GOING ON. I’m not going to go on a long rant, but know this customers and blockcard, if my money does not show up. I will work 24/7 until this company is shut down, or receives no more customers. I have a tremendous social media following on various accounts and platforms. I will be the voice of the people if this is not fixed. Block card you do not want that... Trust me.

So far I’m not impressed. I’ve deposited a total of $470 in 3 transactions, Tried to make one point of sale for around $13. Less than $4 was accepted, the rest denied, even though I had a sufficient balance. I deposited more funds to give it another chance and see how it would work at an ATM. By the time I made it over to an ATM (next morning) I only had a balance of $30 left. I tried to withdraw $20 ....and it worked! ....WHEW! I decided to deposit $400 more.....and within a couple hours my balance has been siphoned down to about $330. Now I’m getting concerned. My “BitPay” card works great. Haven’t had a single problem with it in 2+ years. Haven’t lost a penny. Maybe Blockcard should review its methods. I’m not giving up on it quite yet, but if they keep sucking of my hard earned cash, I might have to burn that card. We’ll see. Hope it’s not a scam!

UPDATE 5/2021: These people posting scam are really annoying. Ignore these people. Either they don't know how crypto works and got themselves into a pickle, or are competition fans or whatever I don't know. I have been using Blockcard ever since it was finally released as a physical card. I love it. I use it in combination with Coinbase for purchases and transfers. The fact you can load it with all KINDS of crypto is just fantastic. I send all my BAT income over to it. If I'm getting close to getting below the top staking level, I can just transfer some crypto over. I just don't use it for a while, and the 6% staking really rakes in more than you realize if you leave a good buffer in there. Really well done. EDIT: Also, just to clear up some of the complaint reviews about money "not being there", etc. - Sure, I've logged in to see my balance noticeably lower than when I left it. Then, days later I've also logged in to see it noticeably MORE than when I left it. That's how Crypto works. This is the best deal out there if you work it right. This crew does a great job, and they keep on adding interesting benefits.

good card for crypto purchase. still developing card lot of things to come