Review on Blockchain Wallet by Killer Bean
The little experience I have gathered with Blockchain wallet......
Blockchain wallet is a hot wallet that has one of the largest number of users globally. It is an online virtual wallet for storing, transferring cryptocurrencies and eventually converting it to fiat tokens. I guess the number of users it has arose from the fact that it is a very secure platform for storing Bitcoins, ERC-20 token(Ether) and a few other coins. I have used this wallet for about three weeks now and I didn't really enjoy my time using the wallet. I got my own version of the wallet from Google Playstore and I proceeded to creating my account since I was a new user. On the Login page you are presented with three options: "Create an Account", "Login" and "Recover funds". While using this wallet, the fees which were charged for transactions were quite affordable. At a point I was allowed to customize my fees( but higher transactions fees set will lead to faster confirmation time). The mobile application is kind of better than the web based platform (as for me), probably because I found it easier to access than the web platform. The number of coins supported on this wallet is not encouraging, it is surprising that a whole successful wallet like Blockchain supports just about five cryptocurrencies. The security on the wallet is still risky because users funds are stored on their own server, meaning any manipulation may lead to total or partial loss of coins. This wallet is just over hyped, I see it as a wallet with just normal features. I didn't have time to test out the help center but i hope it is up to expectations
Pros
- It is very okay to store bitcoins here
- The transaction fees are quite affordable
- It exists as a mobile application and as a web based platform
- The mobile application is compatible with Android devices
Cons
- It stores limited number of coins
- Private keys that are stored on the server can be manipulated which might lead to total or partial loss of funds
- Anonymity is an issue of major concern as it is not totally assured
