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.

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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.

Blockchain principal page screenshot

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

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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20 Comments

    Default Gravatar
    Tony
    July 19, 2019

    How much can a new block chain wallet take.

      Avatarfinder Customer Care
      Bella
      July 21, 2019

      Hi Tony,

      Thanks for your inquiry.

      Blockchain Wallet is completely free to use. However, you will be charged a small transaction fee each time cryptocurrencies move in or out of your wallet. It 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.

      I hope this helps.

      Kind regards,
      Bella

    Default Gravatar
    Kaula
    April 28, 2019

    I’m a new user. I am not sure how the app works. How exactly do I gain access to the funds and add them to my personal bank account?

      Avatarfinder Customer Care
      Joshua
      April 28, 2019

      Hi Kaula,

      Thanks for getting in touch with Finder. Welcome to the world of cryptocurrencies!

      If you are asking about Blockchain wallet, the process of having your funds is to sell your crypto coins in an exchange. Thankfully, Blockchain has partnerships with trusted exchanges to make buying and selling cryptocurrencies easier and more convenient for users.

      Once you have someone who wants to buy your coins, then you can have the money deposited directly to your bank account.

      I know this is a simplistic explanation, but you can usually get a more detailed explanation when you choose which exchange you use. Exchanges come with tutorials that you can also study.

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

      Have a wonderful day!

      Cheers,
      Joshua

    Default Gravatar
    hasan
    February 6, 2019

    How can i pay miner’s fees when my wallet is new and without money?

      Avatarfinder Customer Care
      Val
      February 16, 2019

      Hi Hasan,

      Thank you for leaving a question. A bitcoin transaction requires paying a fee to the network, and that fee changes depending on network congestion. During busy times the fee rate may increase substantially. If you yet have no funds in your wallet then you would need to transfer funds before you begin transacting in order to pay for miners fees. Hope this helps

      Regards,
      Val

    Default Gravatar
    Samuel
    November 16, 2018

    Hello,
    Please, a friend has sent me bitcoin but it didn’t show on my balance in my wallet. But on top of my wallet on blockchain.com, it shows “ONGOING SERVICE INTERRUPTION”.

      Avatarfinder Customer Care
      Joshua
      November 26, 2018

      Hi Samuel,

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

      Wallet outages do happen every once in a while. It could happen for a few minutes to a few days. What you would need is to wait for your wallet to be available again. You can wait 1-2 days but after that, if the problem still persists, you may want to directly get in touch with Blockchain Wallet’s customer support.

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

      Have a wonderful day!

      Cheers,
      Joshua

    Default Gravatar
    kevin
    November 15, 2018

    As of today, I am trying to transfer my BTC to Coinbase but it insufficient funds keeps coming up. I even tried a lesser amount and still, I can not process.

    Please assist.

    Thank you!

      Avatarfinder Customer Care
      Joshua
      November 26, 2018

      Hi Kevin,

      Thanks for getting in touch with finder. I’m sorry to hear about your situation. I know that this can be sometimes frustrating.

      When sending BTC from one wallet to another, there are fees involved. Getting the ‘insufficient funds’ message means that funds available in your wallet are lower than the recommended fee to bring your transaction to the Bitcoin blockchain. In most cases, a wallet will show you how much money you need to complete a transaction. Know how many funds you still need and from there, you would have a better idea of how you can resolve your issue.

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

      Have a wonderful day!

      Cheers,
      Joshua

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