BloFin is a crypto derivatives exchange that opened in January 2023, built around USDT-margined perpetual futures, copy trading and trading bots. We found no trading licence from any regulator: third-party sources place it in the Cayman Islands, its legal entity is not named in the sources we reached, and its Terms say it is not regulated by Dubai's VARA. It suits experienced crypto futures traders who accept offshore risk, and it does not serve the United States, Canada, Singapore, India, mainland China, the UAE or about 30 other locations.
Risk warning: Trading carries a high risk of losing money, especially with leveraged products such as CFDs. A bonus does not reduce that risk. Only deposit what you can afford to lose.
BloFin
New BloFin users get up to 30 USDT in welcome gifts for four tasks done within 7 days: sign up, deposit, make a first futures trade and download the app. The rewards are futures bonus and vouchers, which cannot be withdrawn, though profits made with them can.
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BloFin started in 2019 as a quantitative asset manager, according to Datawallet, and launched its exchange in January 2023. Third-party sources describe a Cayman Islands base, but BloFin's own pages that we reached do not confirm it and do not name the operating company. The exchange is futures first: USDT-margined perpetual contracts sit at the centre, with spot trading, copy trading, grid, DCA and signal bots, staking products and the BloFin Wallet around them.
On security, BloFin says it uses Fireblocks for custody, holds ISO 27001 certification and publishes Merkle tree proof of reserves. These are the company's own claims. No financial regulator supervises how it holds client assets, and there is no investor compensation scheme behind an account.
Futures trading costs 0.02% maker and 0.06% taker, and spot trades cost 0.1%. Those are the base rates. Funding fees on perpetual contracts are charged separately and can run for or against you while a position is open.
Identity verification is optional. With only an email or phone number, an account can withdraw up to 20,000 USDT in a rolling 24 hours. Adding personal information raises the limit to 1,000,000 USDT. Light verification is common on offshore exchanges and is one reason they sit outside regulated markets.
The standard referral program pays the referrer 30% of the invitee's futures trading fees. The invitee gets no share of that commission, so a referral link does not lower your own costs.
New accounts get a 7-day set of welcome gifts in the Rewards Hub: sign up, deposit, make a first futures trade and download the app, worth up to 30 USDT in total. BloFin's July 2026 announcement says the deposit step needs at least 50 USDT and the first futures trade at least 100 USDT. A separate 14-day list adds 10 USDT for a cumulative net deposit of 100 USDT plus 3,000 USDT of futures volume, a 15 USDT bonus for a first copy trade, a 30 USDT voucher for a first bot trade and a 10 USDT voucher for a first fiat purchase (each at least 100 USDT). The hub's banner says up to 5,000 USDT, but that needs very high trading volume. For a normal new user, 30 to 40 USDT is the realistic figure.
The rewards are futures bonus and vouchers, not cash. They cannot be withdrawn or transferred. They work as futures margin and offset 100% of fees and 50% of losses or funding fees, expire after 7 days by default, and are cancelled if you move assets out of the futures or copy trading account while one is active. Only the profits you make with them can be withdrawn. The task list changes between campaigns, so check the Rewards Hub after you sign up.
BloFin is an unlicensed offshore exchange. Sources found no SEC, FCA, ASIC or MiCA authorisation, and it is not on the ESMA register. Some review sites say it holds a FinCEN MSB registration or a Cayman Islands (CIMA) licence, but one source could not find either in the public registries. We found no regulator warnings or IOSCO alerts naming BloFin.
Its Terms of Use (section 6, revised 2026-07-03) restrict about 40 locations, including the United States, Canada, Singapore, India, mainland China, Afghanistan, Myanmar, North Korea, the Marshall Islands, Iran, Iraq, Lebanon, the UAE, Yemen, Belarus, Serbia, Cuba, Haiti, Nicaragua, Trinidad and Tobago, 19 African countries such as Angola, Ethiopia, Libya, Sudan and Zimbabwe, plus Crimea, Donetsk, Luhansk and Sevastopol. If you live in one of these places, the welcome gifts do not apply to you.
Yes. New accounts get up to 30 USDT in futures bonus and vouchers for four tasks done within 7 days: sign up, deposit, make a first futures trade and download the app. The rewards cannot be withdrawn, but profits made with them can.
No. The welcome gifts need no promo code: the tasks appear in the Rewards Hub for new accounts, one per person.
No licence was found. Sources show no SEC, FCA, ASIC or MiCA authorisation, BloFin is not on the ESMA register, and its Terms say it is not regulated by Dubai's VARA. Treat it as an unlicensed offshore exchange.
The referrer earns 30% of the invited friend's futures trading fees. The friend gets no share of that commission, though as a new account they can still complete the welcome tasks in the Rewards Hub.