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.
Blockchain uses two-factor authentication for protection. This involves the creation of a one-time code that must be used in order to give access to the system or confirm the payment. In addition, the participant can back up the wallet.
The Blockchain Wallet Details
- Link: https://www.blockchain.com/wallet
- Type of Wallet: Hot/ Software (Mobile, Web)
- Available Assets: multicurrency (BTC, ETH, LTC, etc)
- Available Platforms: iOS, Android, Web
- Best feature: Intuitive and easy to use, long-term reputation.
- 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.
- Countries: Available worldwide
The Blockchain Wallet features
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.
- Security: The wallet offers a three-tier security infrastructure, with email verification and secret passphrases in the initial phase up to the third-tier option of blocking IP addresses from accessing the Tor network and your Blockchain Wallet account.
Pros and Cons of the Blockchain Wallet
- 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.
- Only compatible with Bitcoin, Bitcoin Cash and Ethereum
- You cannot purchase cryptocurrencies with fiat directly through Blockchain Wallet.