Blockchain Wallet review 2018 | Features & fees | finder.com

Blockchain Wallet – August 2018 review

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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.

Product Name Blockchain Wallet
Wallet Type Mobile
Web
Supported Cryptocurrencies BTC, BCH, ETH

Pros

  • 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.

Cons

  • 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.
Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.

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

Pros

  • 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.

Cons

  • 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.

Next steps

Get started with Blockchain Wallet by visiting blockchain.info and signing up for an account. Easily send and receive bitcoin or Ether, keep track of your funds, and enjoy the flexibility of an online wallet with a robust security infrastructure that you can customize to meet your needs.

Frequently asked questions

Image source: Blockchain Wallet

Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.
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8 Responses

  1. Default Gravatar
    morrisonJuly 5, 2018

    can I pay blockchain so that transactions between sending and receiving bitcoins are fast or high priority .. ??? (question of minutes and not hours)

    • finder Customer Care
      JoshuaJuly 22, 2018Staff

      Hi Morrison,

      Thanks for getting in touch with finder. I hope all is well with you. :)

      Regarding your question, the speed of your transaction depends on the amount of network activity and your transaction fee. Generally, miners do prioritize transactions with higher fees. For this reason, if your wallet asks for higher fees than others, then there’s a good chance that your transaction is processed faster.

      For Blockchain Wallet, if you want to have a faster transaction or your transaction is time-sensitive, you may choose to make the transaction “Priority”. You will likely incur a higher transaction fee for faster confirmation.

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!

      Cheers,
      Joshua

  2. Default Gravatar
    JeffJune 5, 2018

    Hi,
    Hope you can help.
    Bitcoins were sent to my Blockchain address on the 1st June,
    the bitcoin are there but have not been finalized. Is there
    any thing I can do to seed up the process.
    Greatly appreciate any help.
    All the best,
    Jejj

    • finder Customer Care
      ArnoldJune 9, 2018Staff

      Hi Jeff,

      Thanks for your inquiry

      If your bitcoin wallet has the option to add transaction fee. You can speed up the confirmation process by paying a higher fee. However, not all wallets have the same option.

      Hope this information helps

      Cheers,
      Arnold

  3. Default Gravatar
    SheridaDecember 21, 2017

    Not funny!
    I have make an order this morning. I was ask to make conformation with code sending with phonenumber
    After 3 times no code, so i cancelled the order. Unfortunally my noney is gone from my bankaccount. No phonenumber to contact and im still waiting for a reply on email. So my money is gone..just like that?

    • finder Customer Care
      HaroldDecember 21, 2017Staff

      Hi Sherida,

      Thank you for your inquiry.

      While we do not represent any company that we feature on our pages, we can offer you a general information. With your current circumstance, you may need to contact the relevant exchanges customer service for proper guidance.

      I hope this information has helped.

      Cheers,
      Harold

  4. Default Gravatar
    AshybangNovember 7, 2017

    Hi
    Is there a way to exchange /transfer/sell bitcoin in my blockchain wallet to cash into my bank? What is the process?
    Kindest regards.
    Ashybang

    • Default Gravatar
      DanielleNovember 7, 2017

      Hi Ashybang,

      Thank you for contacting finder. We are a comparison website and general information service, we’re more than happy to offer general advice.

      You may refer to this page for options that may suit your needs. You may scroll down and review and compare the offers available on the table. Once you have selected one, you may proceed by clicking the green “Go to Site” button.

      I hope this helps.

      Cheers,
      Danielle

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