Blockchain Wallet Review

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Blockchain Wallet review

Find out why Blockchain describes itself as the most widely accepted digital wallet, and how to use it to store bitcoin and Ether.

Blockchain claims to be the world’s most popular digital wallet for storing bitcoin and Ether. User-friendly, secure, and flexible, Blockchain Wallet is home to over 15 million wallets. Integrating advanced security practices into a highly accessible user-interface, Blockchain Wallet delivers an online solution for cryptocurrency storage.

Details

Product Name Blockchain Wallet
Wallet Type Mobile
Web
Supported Cryptocurrencies BTC, BCH, ETH
Price (USD)
  • Advanced security features, such as 2-step verification.
  • You can choose to see your balance reflected in your local currency.
  • User-interface design is intuitive and can be easily navigated.
  • As a privacy measure, Blockchain automatically generates a new wallet address after each digital transaction.
  • The company is based in Luxembourg, a country noted for having a legal structure that protects individual privacy.
  • You can easily pair your web wallet with a mobile device by scanning a QR code.
  • You can buy and sell cryptocurrencies directly through your Blockchain wallet.
  • Online wallets, as a whole, are generally considered to be more vulnerable to security breaches than offline wallets.
  • Some users may find it a cumbersome process to go through identity verification to access their individual Blockchain wallets.
  • Blockchain Wallet is only compatible with bitcoin and Ethereum.
  • You cannot purchase cryptocurrencies with fiat directly through Blockchain Wallet.

This wallet isn’t currently available via the finder website right now. Please see our comparison of other crypto wallets for options to consider.

What is Blockchain Wallet?

Blockchain Wallet is a digital wallet platform developed by the Luxembourg-based software development company, Blockchain. Accessible from web or mobile devices, Blockchain Wallet makes it easy for anyone to transact securely with bitcoin and Ether through a clean, intuitive user-interface. Some of the core features of Blockchain Wallet include the following:

  • A built-in “Security Center” that guides you through the steps you can take to secure your account, backup funds, and prevent unauthorized access.
  • Partnerships with trusted exchanges make buying and selling cryptocurrencies directly from your personal Blockchain wallet quick and easy.
  • Flexibility to adjust transaction fees in accordance with priorities.

Compatible with:

  • iOS
  • Android
  • Web

How much does it cost?

Blockchain Wallet is completely free to use.

You will, however, be charged a small transaction fee each time cryptocurrencies move in or out of your wallet. Blockchain Wallet’s platform will automatically deduct the appropriate transaction fee from your funds, based on the size of the transaction and the level of network activity at the time. The option to specify your own bitcoin transaction fee is also available and can be found under the “Customize Fee” setting.

Which cryptos can I store?

  • Bitcoin
  • Ether

How do I add currency to my wallet?

  • Before you can add currency, you will need to create an account. If you haven’t done this already, simply visit blockchain.info and choose to sign up for a free wallet.
  • Enter your e-mail address, choose a password, and follow the steps to activate your new wallet.
  • Once you have logged in, click the “Request” button.
  • Select the currency of your choice, either bitcoin or Ether.
  • You will see your wallet address, which just looks like a long string of numbers and letters. Anyone can send you the appropriate currency using this address. You also have the option to access and share your wallet address in the form of a QR code.
  • Be sure to send bitcoin to the bitcoin address only, and Ether to the Ether address. Sending a specific currency to the wrong address may result in permanent loss of those funds.
  • If you have bitcoin or Ether in another wallet, you can transfer funds into your new Blockchain wallet for the appropriate currency.
  • If you don’t already have bitcoin or Ether, you may need to visit an exchange that allows you to purchase cryptocurrencies with fiat, such as Coinbase, and then transfer the assets to Blockchain in order to fund your wallet.

How do I make payments with my Blockchain wallet?

Making payments with your Blockchain wallet is easy.

  1. Click the “Send” button on your dashboard.
  2. Select the appropriate currency for your payment.
  3. Enter the wallet address of the recipient, either by pasting it in or scanning the associated QR code.
  4. Enter the amount you wish to pay. Blockchain Wallet’s automatic conversion features let you type in the value using either your local currency or the cryptocurrency, and it will display the total in both for easy comparison.
  5. You have the option to enter a description, providing more details about the payment.
  6. If the transaction is time-sensitive, you may choose to make the transaction “Priority”. You will likely incur a higher transaction fee for faster confirmation.
  7. You may also choose “Customize Fee” to specify a rate for your transaction. Higher fees will yield faster validation for transactions, and vice versa.
  8. Once the information is entered, click “Continue” and confirm the details of the transaction.

How secure is Blockchain Wallet?

Blockchain Wallet is designed with both security and usability in mind. While baseline security features do offer some layers of protection, many additional security features are available as options. Within your wallet dashboard, you can visit the “Security Center” tab to see information about the security of your wallet.

Blockchain Wallet rates security in levels, giving users a tool to easily visualize and opt into additional security recommendations. Here is how they break it down:

Level One

  • Email verification. Verifying your email address allows Blockchain Wallet to send you login codes to confirm payments, or advise you if any unusual activity is detected in your account. While most security features are optional, you’ll need to verify your email address in order to complete the setup process for your Blockchain wallet.
  • Passphrase. A secret passphrase is created as a way to restore your account in the event that you lose your password. Because of their commitment to user privacy, the company behind Blockchain Wallet does not have access to your password, and therefore cannot help you to recover it.
  • Password hint. Creating a password hint is a way to give yourself a reminder in the future, in case you forget your password.

Level Two

  • 2-step verification. Activating 2-step verification will require you to enter a one-time passcode that Blockchain Wallet sends to your cell phone each time there is a login attempt associated with your account.
  • Link your cell phone number. If you link your cell phone number, you can receive a one-time login via mobile any time someone tries to access your account using the wrong password.

Level Three

  • Block Tor requests. This option blocks IP addresses coming from the Tor network from accessing your account. Tor is an anonymizing tool that is often used by hackers, although many privacy enthusiasts also use Tor for non-malicious purposes.

Where can I get Blockchain Wallet?

Blockchain Wallet provides an online wallet, which means that you don’t need to download or install anything to use it. Simply visit blockchain.info and sign up for a free wallet.

If you wish to use the mobile option, you will need to download the Blockchain Wallet app. The app is available for both iOS and Android.

Pros and cons

  • Advanced security features, such as 2-step verification.
  • You can choose to see your balance reflected in your local currency.
  • User-interface design is intuitive and can be easily navigated.
  • As a privacy measure, Blockchain automatically generates a new wallet address after each digital transaction.
  • The company is based in Luxembourg, a country noted for having a legal structure that protects individual privacy.
  • You can easily pair your web wallet with a mobile device by scanning a QR code.
  • You can buy and sell cryptocurrencies directly through your Blockchain wallet.
  • Online wallets, as a whole, are generally considered to be more vulnerable to security breaches than offline wallets.
  • Some users may find it a cumbersome process to go through identity verification to access their individual Blockchain wallets.
  • Blockchain Wallet is only compatible with bitcoin and Ethereum.
  • You cannot purchase cryptocurrencies with fiat directly through Blockchain Wallet.

Blockchain Wallet Review: Comprehensive Review and Guide

Blockchain is one of the most reputable crypto companies, situated in Luxembourg. Its wallet is available for both web and mobile usage and it’s considered one of the most preferred on the market. Supporting most of the major coins – Bitcoin, Bitcoin Cash, Ethereum and Stellar, in this review of the Blockchain wallet, you will see why it is so popular.

01. Blockchain Wallet Features & Fees

Stepping into the blockchain world, you should completely understand how the public ledger works for the purpose of extracting the best of it for yourself. In a word, miners are confirming transactions to be added to the blockchain and what they receive in return is the accompanying fee. That’s why higher paid transactions are processed way faster than others. The Blockchain wallet is offering you a fixed ETH fee and dynamically calculated transaction taxes for each of the other three cryptocurrencies.

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If this isn’t convincible enough, I would like to mention the built-in exchange function integrated into the web application, which is for sure making users’ life much easier. For all these reasons, keep reading to find out all the details you might want to know.

Web Page Interface

Pros & Cons

When taking a decision, you should make sure you’re always up-to-date with the latest information. Anyway, the easiest to consume and understand the way of selecting information is to simply put it in a table. This way you can see not only the positive and negative points, but also visualize the wallet’s summary. I have gathered it all for you below:

  • Friendly Interface Not only easy to use but also personalized themes on the user’s convenience. Choice between default, dev ad inverted colors to match the user’s preferences
  • Integrated Exchange Some of the users are able to experience the built-in exchange convenience, depending on their location. On the left menu appears an Exchange button with the supported coins
  • Hierarchical Deterministic The HD implemented feature generates a different public address for each of your incoming transactions, which makes your balance hard to be traced
  • Two-Factor Authentication The 2FA option provides you with the opportunity to add an extra layer to secure your funds. It will request you some kind of additional information every time you use your wallet
  • Unresponsive Customer Support There are some claims that the Blockchain wallet helpdesk isn’t always providing useful information to resolve users’ issues

Are You Interested in the Blockchain Wallet?

or

Read More on Multi-Coin Support and OS Compatibility

Multi-Coin Support and Operating System Compatibility

As mentioned earlier, the Blockchain wallet is supporting four of the major coins according to the market cap classification. You can operate with either Bitcoin and Bitcoin Cash or Ethereum and Stellar. This is covering the majority of the users interested in crypto, that’s why the Blockchain wallet is one of the most preferred on the market, due to its coin-supporting combination.

  • Paxos Standard [PAX]

Speaking of operating systems, as a web wallet, Blockchain can be used on any kind of a browser, without really requesting some special preferences for the user’s device. What I would like to say when it comes to compatibility is concerning mostly the mobile version of the wallet. Accessible for both Android and iOS users, there are some minimums to think of If you’re willing to install the Blockchain app. Check the following table for some more precise information:

Requires Android 4.2 and up

Requires iOS 10.0 or later

Built-In Exchange

Straight to one of the most interesting Blockchain wallet specific features – its built-in exchange. It isn’t available for all its users but just for some of the regions, supported by the project. There are more than 230 countries offering this option but if you can’t find yours in the list, send feedback to the supporting center. If you’re lucky to be part of them, you can explore the advantages of the integrated exchange by simply navigating to the dedicated tab on the left-side menu. Of course, due to the 2FA, you’ll be requested to verify your identity before you proceed using it. All the four supported coins are accessible for exchange actions in the platform. The crypto-to-crypto exchange platform of the Blockchain wallet requests you to type in the desired amount and hit the Exchange button. A pop-up window will appear with confirmation of the requested action and if everything’s correct, you should simply click the Complete Order option to finalize the process. You can have an overview of all your orders in the History tab of the interface.

If we stop by to the built-in exchange’s fees, the usual process might be observed. Since there are two transactions to exchange a cryptocurrency – one to send yours and another one to receive the switched one, you’re supposed to pay for the outcoming payment and receive the swapped for free. Fees are considered proper chosen, depending on the currency’s current price.

Is Blockchain Wallet Safe?

Security

Creating a password has always been a standard encryption measure, but when it comes to the Blockchain wallet, you should know that you’re not able to reset it if you ever lose or forget it. That’s the reason why you should keep it safe and secure. Ultimately, if you would like to restore your wallet, this happens via backup phrase, which is the second thing to note and hide well. I always recommend making several copies of both the phrases and put them in different places.

What’s more when speaking of security is the two-factor authentication. This feature will additionally protect your coins by requesting a specific piece of information every time when you log into your wallet or perform an action with it.

The Two-Factor Authentication feature requires you type in specific information when you log into your wallet or request to make a change. It might be an SMS, a PIN code or a text to fill, depending on your choice

Password encryption is one of the basic processes to implement in each wallet. What’s different here is the availability of two separate phrases – a password one and a backup one to restore your wallet with. Anyway, keep them both safe and secure

Privacy and Anonymity

The Blockchain wallet possesses one of the most attractive anonymity features for the majority of crypto users – its hierarchical deterministic nature. This allows you to use a different public key for each of your transactions, which basically make you balance untraceable. If you’re privacy orientated, you might also like the Tor browser option. It prevents your IP address and the ability to get hacked dramatically decrease.

Tor Browser Compatibility

You might protect your privacy but operating with the TOR browser. It prevents your IP address from being accessed by potential hackers.

When it comes to the anonymity of your balance, you can make it a bit hard to trace by generating different public addresses for each transaction you receive.

Is Blockchain the Wallet For You?

Transaction Fees

If you would like to know how much fees you’re going to pay for a certain transaction, then go to the particular coin you’ll operate with and check its details. Once again, only the Ethereum taxes are fixed, the other three coins are influenced by a dynamic pricing model, which calculates the fee, depending on the network conditions at the moment and the size of your payment.

When it comes to choosing, you might either set a Priority or a Regular fee. If you decide on the first option, then your transaction will be added to the blockchain in the next one hour. If you keep the second possibility, you should be a bit more patient.

Conclusion

Finally, since you know all that it comes to security and privacy from this review of the Blockchain wallet, you can decide if it’s fitting your needs. The extended safety precautions such as 2FA and Encryption in tandem with the Anonymity opportunities of an HD generator and Tor browser usage are more than a tasty bite.

  • 2FA and Encryption
  • Anonymity of an HD generator

Well, if you’re still not sure about it and the perfectly matching you wallet should propose an all-the-time adequate available support, then you might consider thinking of another option. I would like to propose you the alternative, called Green Address Wallet.

02. Blockchain Wallet Guide: How to Setup and Use

Even considered easy to use and operate with, I would like to walk you through how to use the Blockchain wallet and how to set it up before that. This section aims to provide you everything you with need to know about it and how to deal with the possible issues.

How to Install

As a web wallet, there are no specific installation steps to follow but simply register and log in to the platform. When it comes to the mobile versions, I would like to split the process into several stages for the purpose of making it completely clear. Choose one of the guides below, depending on your phone’s operating system.

Choose Operating System

  • Search for the Blockchain wallet in the Google Play Store
  • Click the Install button
  • Create yourself an account
  • Type in Blockchain wallet in the Apple App Store
  • Click the Get button
  • Sign in an account

Interface Overview

Considered an intuitive and easy to understand platform, the Blockchain wallet provides a simple GUI design to fit even less technically orientated users. You can see your current balance and recently placed transactions on the home page. When Sending or Receiving you can use both digital string or a QR-code.

Create an Address

When you go to the “Addresses” section, you’ll be able to organize your wallet. Choose from creating multiple sub-wallets to distinguish your funds or generate new ones. You can manage it all using this tab. The creation of a new address also happens here. Just click on the “+” button.

If you ever decide to import an address from another wallet, here’s the place to do so. Make sure you completely understand what you’re doing to avoid any mistakes.

Send and Receive Assets

For the purpose of sending some coins you’re supposed to simply enter the receiver’s address and type in the desired amount to transfer. The fee will automatically appear and when you submit the request a pop-up confirmation window will summary your data. Approve it and it’s all done.

Same with receiving coins, generate yourself an address by clicking on the coin you would like to receive and share it with the sender in the form of a string or a QR-code. Make a note that your Ethereum address will remain the same.

Hint: Always double check the recipient’s address before you confirm a transaction. If there’s a mistake in it, your funds will go to the nowhere and he’ll never receive them.

Backup and Restore

It happens sometimes to lose or forget your password. Fortunately, the Blockchain wallet offers both Backup and Restore options to save the day. Check them out:

Backup

Install and deposit your crypto

Here’s the moment to use the backup phrase from the initial creation of your wallet. The 12-words string will allow you to activate your previous data if you simply click on the Backup Phrase button in the Security Center and select the dedicated option.

Create a strong password and save it

To create a strong password, it must contain at least 16 characters. Use numbers, letters and special symbols. Most important – never use the same one twice.

Restore

Install and restore wallet from the seed

If you ever lose your access, simply click on the button use “Recovery Phrase” to start the restoring process.

Restore in case of an imported address

When speaking of an imported address, you’re not able to restore via your recovery phrase. First, transfer them all to another address and finally send them to your account. Now it should be working.

Specific Functions

Here, I would like to show you something specific when it comes to the mobile edition of the Blockchain wallet. It’s completely understandable to prove millions of downloads of this version because of the interesting pairing code feature in it. This is actually a QR-code to synch your web and mobile wallet. All you need to do is to check if you’re supporting the latest version of the wallet on both your devices.

When you initially run the mobile app, follow the 3 stages and then log into your computer and enter your account. When you click the Show Pairing Code button, the system will display it as a QR-code to scan with your smartphone. This is something to highly secure your funds and you should definitely keep this code away from other people’s eyes.

Possible Issues and How to Avoid Them

Most commonly experienced issue? It’s the confirmation email. If you’re missing your authorization email after more than five minutes, then check your spam folder. You can even add the Blockchain wallet in your contact to prevent their emails from being filtered out. Not there? Call your email provider to make sure they haven’t block the Blockchain domain.

03. FAQ

What’s the receiving process?

Generate yourself a new address and give it to the sender.

If someone steal my phone, are my coins safe?

If you have set the PIN protection, you have enough time to go and change your setting via the web version.

How to proceed if I lose my PIN-code?

If you mistake it 4 times, then the app will request you for your password. If you don’t have this one too, then use your Backup phrase to access.

04. About Blockchain Wallet

Founded in 2020, Blockchain has become one of the most preferred crypto platforms nowadays. Used by more than 15 million users and working on 160k transactions per day is a witness of the talented team, developed such an attractive software. Available in both web and mobile versions, the Blockchain wallet is a leading choice of the crypto users.

Blockchain Wallet on Social Media

Social media always influenced everything, surrounding us. It keeps you updated and tuned for what’s coming and you’re able to stay informed for what interests you most. Follow the Blockchain wallet account to get the latest news when it comes to your wallet and its enhancements.

Blockchain.info Wallet Review

The Blockchain wallet is a longstanding Bitcoin and Ethereum wallet and is one of the most used websites in the industry.

Some users state that customer support is often unhelpful or completely elusive. Experienced Bitcoin users don’t like the potential risks of it being an online hot wallet.

Blockchain is an established, trusted company with years of experience and millions of users. The wallet is easy and straightforward to use making it appealing for new Bitcoin users.

Blockchain.info Wallet Review

Blockchain.info is a longstanding Bitcoin and Ethereum Wallet and is one of the most used websites in the industry. The platform was launched in August 2020 and is based in Luxembourg.

Blockchain.info also has a blockchain explorer that aims to help users understand the current status of Bitcoin including latest transactions and the number of transactions per day.

In this Blockchain.info wallet review, you’ll find out more about what the platform has to offer, the level of difficulty in using it, and ultimately whether it fits your needs.

Public Opinion

The Blockchain.info wallet is highly popular for a number of reasons.

People love the easy-to-use layout, as well as the Blockchain.info’s positive reputation. However, there are also a few drawbacks to the service due to it being online.

  • Blockchain.info is an established trusted company with years of experience and millions of users.
  • Well-liked for small transactions and regular payments.
  • Helpful to spend funds from a paper wallet.
  • Easy and straightforward to use makes it appealing for new Bitcoin users.
  • People like the smartphone app’s functionality.
  • Experienced Bitcoin users don’t like the potential risks of an online hot wallet.
  • There a few reports of accounts being emptied and stolen.
  • There are claims that customer support is often unhelpful or completely elusive.

People generally like the software when it comes to the functionality and day-to-day use. The major issue (if any) is the potentially lapses in security. Whether or not the users complaining that their wallets got hacked were taking adequate security measures isn’t known, but it’s worth noting that online wallets can be risky. Plus the customer support often ignores this complaint leaving users a little high and dry.

It is recommended that the wallet should be used for lower transactions and holding large sums in the platform is not a wise idea. If you’re looking to hold larger quantities of Bitcoin, it’s recommended you use a hard wallet.

User Interface

Like many services, Blockchain.info has a fairly swift sign-up process. You only need to take a few steps and you’ll have access to your wallet. Simply input an email, choose a super strong password, and you’re ready to start receiving Bitcoin.

The user interface is fairly intuitive upon opening with a small selection of tabs combined with a sticky “Send and Receive” menu at the top. Everything is clear and easy to understand for the layman. This is perfect if it is your first Bitcoin wallet.

Your transaction data sits readily available directly near the blockchain explorer feature. This means monitoring all ingoings and outgoings is possible live, right from within the wallet.

Security is highlighted with status bars, which will be defaulted to red upon your first login. This should be a nice green full color once you have worked your way through the security tab.

There is nothing out of the ordinary in the way that it is presented. Everything is fluid and no additional downloads are necessary. It operates in the way a hot wallet should.

Security

The ideal wallet should be convenient for the accessing and trading funds, but more importantly, it should keep your tokens secure.

The Blockchain.info security tab makes sure your defenses are bolstered up to prevent any potential threats or hacks.

Running an account as without using the security features is pretty much like leaving a car unlocked in a big car park. Sure it might be ok for a while, but it’s a car park so car thieves are likely to be around. Eventually one of them will try the door handle and it will just pop right open.

With a hot wallet, it’s always vital you are accessing the correct website. It is a good idea to bookmark https://blockchain.info or specifically type it in each time. Entering the site through Google or clicking an email that looks legit could just send you to a scam site waiting to phish your sensitive information. Make sure to double-check the web address before entering passwords.

To start with, make sure you backup your recovery key . If your recovery is backed up, you’ll be able to get your Bitcoins back in the result of lost data or passwords. The recovery phrase is effectively a representation of your private key so keep safe and don’t ever put it into digital format. Opting for the simple pen and paper method is surprisingly secure (just don’t lose it!).

The SMS and two-factor authentication is an expected step on any financial account these days, and Blockchain.info includes this choice. It will stop quick fingers from accessing your account with just an email address and password.

There is a nice final feature which blocks Tor requests. When turned on it hardens your wallet against anonymous entities on the dark web.

Accessibility

The Blockchain.info wallet is very easy to get started with.

It provides lots of little features that smooth out any rough edges, making Bitcoin trading and usage simple to understand for the newcomer.

The send function is very clear.

Simply select how much Bitcoin you want to send by inputting your local fiat amount and it will convert it via the current exchange rate.

Converting Bitcoin to Ethereum is made painless via the exchange area, which helps stop any fiddly conversions or using outside services. These two features make it accessible for those who don’t want to be bothered with exchange rates and conversions.

Smartphone wallet users will be pleasantly surprised with the quick pair function that authorizes the app on your phone. Simply scan the browser QR code and it will log you into the app. All you need to do is throw a pin code on and you’re away.

Receiving funds through the browser was fine, although it took me a few seconds to find the public address QR code. I like them to be nice and primed for quick payments and no mistakes. This is certainly something that is important if we expect Bitcoin to be used more often in day-to-day life.

One ideal little helper for new users is the popup that greets you on the first logout. It advises you to set your backup recovery key before you lose anything. This is particularly useful, even if it’s just a little reminder to slow down and take care.

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