As of March 2020, all the Bitcoin mined so far was valued at more than $160 billion. The value of Bitcoin has fluctuated since, but one thing is clear: cryptocurrency is a valuable and in-demand form of investment.
But before you can begin investing in crypto, you need to choose an exchange and a wallet to keep it in. Blockchain.com offers both of these services and more, which we’ll explore in this Blockchain.com review.
Many crypto companies promise advanced security and convenient features. With all the different options, it can be difficult to make an informed decision. How do you choose between Blockchain.com vs. CoinBase or any of their major competitors?
This Blockchain wallet review will attempt to simplify things so you can make a confident decision. To learn everything you need to know about Blockchain.com and how their services stack up against the competition, keep reading.
BlockChain.com Review: What Is Blockchain.com?
If you’re looking for a secure, reputable crypto wallet, Blockchain.com’s wallet might already be on your list of considerations. But before you make your decision, it’s important to know a little about the organization behind the product.
Blockchain.com is an organization that attempts to specialize in all things blockchain, the technology that drives cryptocurrencies. The company provides crypto traders and investors with Bitcoin data, metrics and statistics, and a crypto wallet. But their primary focus is on offering blockchain exploration services.
Blockchain exploration involves viewing and analyzing parts of a blockchain. When it comes to cryptocurrency, this means studying crypto transaction data. By understanding crypto transactions, investors hope to better judge where the crypto market is going.
Blockchain exploration might be the company’s original focus, but Blockchain.com has expanded significantly since it started. In fact, it was the single most-visited crypto website in 2013, and it’s still a major player today.
Not everything has been sunshine and roses for Blockchain, however. There have always been potential Blockchain wallet problems that have some crypto holders concerned. And at one time, Apple even temporarily removed their app from the App Store.
But this hasn’t kept Blockchain.com from becoming one of the largest and most trusted names in crypto. And as we discuss Blockchain wallet pros, cons, and features, you should start to see why.
There are many types of crypto wallets out there, including paper wallets and wallets stored on flash drives. The Blockchain.com wallet is an e-wallet, which means it can be digitally accessed through software in your web browser or through an app on your phone.
The Blockchain wallet supports four different types of cryptocurrencies. These include Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH) and Stellar (XLM). While this is far from a comprehensive list of all cryptocurrencies available, they're quite popular cryptocurrencies.
One thing to be aware of with crypto transactions is that fees are usually involved. While little information on Blockchain.com’s fee structure is available, they claim to have some of the lowest fees in the industry. However, there are no fees involved with holding crypto in your wallet.
The Blockchain wallet app is compatible with both Android and iOS devices. Users are allowed to pair their device with an existing wallet they already have, or create a new wallet directly on their phone. The app has received decent ratings on both the App Store and Google Play.
Blockchain provides several powerful features that make storing and managing your crypto more convenient. We’ve covered some of the most significant ones below.
Blockchain.com allows users to trade, send, and receive any of the five supported cryptocurrencies. Transactions are posted in real-time, so your accounts are always up-to-date.
One reason the Blockchain wallet is so popular is because of its ease of use. The app is easy to navigate and control. There’s even support for 21 different languages.
Security and Privacy
Security is key for all fintech companies, and Blockchain delivers by providing three layers of security for its users. Each user is assured full control over their wallet, with automatic email verification to prevent unauthorized access.
Broad crypto Support
While there are far more than five cryptocurrencies out there, the ones supported are the most common. Blockchain has also continually added support for new coins, so we should see an expanded range in the future.
While all of these features are significant, a crypto investor’s main concern when choosing a wallet is usually security. We’ll discuss that next.
Security on Blockchain.com
When it comes to protecting your crypto, physical and cold wallets are considered the safest. Physical wallets can be stored on objects such as paper and hidden in a safe. Cold wallets are stored on hard drives or flash drives, but they’re disconnected from the internet and protected from hackers.
Since Blockchain’s wallet is an e-wallet, that means your cryptocurrency is stored online on Blockchain.com’s private servers.
This doesn’t necessarily make it unsafe, however. In fact, Blockchain goes to great lengths to maintain the security of its users’ wallets. It does this by providing three distinct layers of protection.
The first layer of protection involves an email verification process, requiring you to enter a code from an automatic email to log in. You must also provide log-in codes to confirm crypto transactions. Finally, every user must keep a secret passphrase to access their account if they forget their password.
The second layer of security involves all the above features, but it adds two-factor verification with a linked phone number.
Last, the third layer of protection is the possibility to block Tor requests to your wallet. Turning this on prevents IP addresses coming from the Tor network from logging into your account. This is because Tor is an anonymous network often used by hackers.
By turning on all three of these layers, you can feel confident that your wallet is safe.
Frequently asked questions about Blockchain.comHere are some questions people often have about Blockchain.com. If you have any more questions of your own, feel free to leave them in the comments section below.
What Cryptocurrencies Does the Blockchain Wallet Support?
Blockchain.com supports the following cryptocurrencies:
- Bitcoin (BTC)
- Bitcoin Cash (BCH)
- Ether (ETH)
- Stellar (XLM)
- USD Digital (USD-D)
What Services Does Blockchain.com Offer?
Blockchain.com provides three services to cryptocurrency holders and investors.
- Wallet: A centralized, online e-wallet for storing, sending, and receiving supported cryptocurrencies
- Exchange: A professional trading platform that allows you to track the value of different cryptocurrencies and buy and sell crypto
- Explorer: A system for discovering live data, charts, and transactions in cryptocurrency blockchains
What Kind of Customer Support is Available?
What Payment Methods Can Be Used to Buy Crypto?
The Blockchain.com exchange lets you purchase crypto with the following payment methods:
- Credit or debit card
- Bank transfer
- Instant USD ACH transfers in certain U.S. states
Pros & Cons of Blockchain.com
- Advanced security features
- Secret passphrase for in case you lose access to your wallet
- Intuitive, easy-to-navigate user interface
- Based in Luxembourg, a trusted European nation with strong privacy and security regulations
- Centralized, online wallets, which is by nature slightly less secure than physical and cold wallets
- Verification processes can be cumbersome and time-consuming
- Less anonymity than some platforms provide
Making and Managing Your Crypto Investments
Blockchain is one of the largest names in crypto, and they have the services and security to back it up. With their convenient e-wallets, three layers of security protection, and innovative blockchain explorer, the service offers something for everyone.
After reading this Blockchain.com review, you should have a clearer idea of where to make and store your crypto investments. But whatever wallet you use, cryptocurrency investing is an entire science of its own. To help you make the most of your money, turn to our reviews, guides, and crypto calculators for help.