Blockchain Wallet App
Blockchain wallet is a digital platform developed by the Luxembourg-based software company, Blockchain. The Blockchain Wallet app makes it easy for anyone to transact and invest in currencies like Bitcoin, Ethereum, and many others through their clean, intuitive UI. It’s completely free to use, paying only the small transaction fee that goes towards the miners whenever you move cryptocurrencies in and out of your own wallet.
With this, Blockchain Wallet App continues to market itself as the world’s most popular way to buy, sell, and trade crypto, trusted by millions of users since 2011.
Blockchain Wallet Fees: Is it Free to Use?
Blockchain wallet is completely free to use, but keep in mind that you will still be charged a transaction fee every time cryptocurrencies move in or out of the wallet. These fees go directly to the miners facilitating the transaction and this amount is automatically deducted from your funds, depending on the size of your transactions and level of network activity.
Alternatively, you can also set your own custom transaction fees under the ‘Customize Fees’ setting.
Adding currencies to my Blockchain Wallet
- You start by creating an account by visiting blockchain.info and signing up for a free Blockchain Wallet.
- Enter your email address, choose a password and follow the steps to activate your new wallet.
- Upon logging in, click the ‘Request’ button.
- Select the currency of your choice (Bitcoin, Ethereum, etc.).
- You will then see your wallet address which you can now use to receive the appropriate currency. You may also share your wallet address via QR code.
- Make sure to send the right currency to the right address in order to avoid permanent loss of funds. (Send Bitcoin to Bitcoin addresses, Ethereum to Ethereum addresses etc.)
- If you have cryptocurrencies in another wallet, you can transfer the funds in your new Blockchain Wallet for the right currency.
- If you don’t have either Bitcoin or Ether, you may need to visit an exchange that will allow you to purchase cryptocurrencies via fiat currency. You can then transfer these assets to Blockchain.
Blockchain Wallet Security
Designed with both usability and security in mind, Blockchain Wallet app offers several baseline layers of protection, with other features available as optional add-ons. Check the app’s ‘Security Center’ tab to see more information.
Blockchain’s Wallet security is rated based on their levels, allowing beginners to easily visualize them to help guide their decisions as to how much features they want to use.
Level One
- Email verification - This will allow Blockchain Wallet to send you certain login codes to confirm any payments or notify you of any unusual activities conducted by your account. While most other features are optional, this is a needed step in order to finish your setup.
- Passphrase - This secret passphrase is a means of restoring your account in the event you lose your password. This is important as Blockchain doesn’t have access to your password, in order to bolster your privacy and security. The company cannot help you recover this in case you lose it hence, the need for a backup passphrase.
- Password Hint - This hint can help give you a small reminder in order to help you remember your password if you lose it. Make sure it’s really secure and not something that’s very predictable.
Level Two
- Two-step Verification - Activating this will require you to enter a one-time passcode that Blockchain sends to your mobile phones when you attempt to login to your account.
- Linking your Mobile Number - You will receive a one-time login via mobile if anyone attempts to access your own account using an incorrect password.
Level Three
Block Tor requests - This option can enable you to block IP addresses coming from a Tor network from accessing your accounts. Tor itself is a double-edged anonymizing tool. Many privacy enthusiasts love the added protection it provides, while many hackers use it for their own means as well.
Lightning-Fast Crypto Trading
Ability to trade in 4 fiat currencies
- Blockchain wallet’s exchange supports 4 main fiat currencies: USD, EUR, GBP, and TRY.
Matching engine that keeps up with your activities
- Experience the fastest crypto matching engine, built for and by traders.
24/7 Live chat support
- Got any questions regarding your wallet? Simply call Blockchain’s customer support directly in the exchange anytime!
Margin Trading (Coming soon!)
- Get more buying power and earn up to 5x the profit with their upcoming margin trading!
FAQ
No. Users will get an ID for their wallet that will be used exclusively for their login purposes. You cannot use this wallet ID to send or receive funds, and Blockchain doesn’t recommend that you share this to anyone.
Yes. You can still access your old addresses through the ‘Settings’ tab, even though Blockchain automatically generates a new address for each transaction. You can still receive funds on your old address.
You can’t. Once you initiate a transaction, you can no longer reverse or cancel it, that’s why it’s recommended to double-check every detail of the transactions you make. If you accidentally send the wrong type of currency, enter the wrong address, or type in the wrong transaction amount, you could lose some of your funds permanently.
It’s a free online wallet so you just need to visit blockchain.info in order to sign up for your free wallet today. Alternatively, you can download the Blockchain Wallet App, available for both iOS and Android, on your mobile device if you wish to conduct your crypto transactions on this device.
