1 Level
14 Review
5 Karma
Review on Blockchain Wallet by Sharron Robertson
Blockchain Wallet Review
Blockchain wallet has been a cryptocurrency wallet that those buying Bitcoin and Ethereum can trust. They have years of experience in the crypto space and boast millions of users worldwide.
Although experienced, high-volume cryptocurrency investors don’t tend to like the potential risks of using an online software wallet compared with a cold storage hardware wallet, its intuitive interface makes it appealing for entry-level users at the very least.
Choice of coins
At the time of writing this Blockchain wallet review, the wallet currently supports only three of the leading cryptocurrencies – Bitcoin (BTC), Bitcoin Cash (BCH) and Ethereum (ETH).
Mobile & Desktop
As a software cryptocurrency wallet, the Blockchain Wallet is designed for easy access via desktop computers online as well as smartphone and tablet devices. It is straightforward to pair web wallets with a mobile device simply by scanning a QR code.
Operating systems
The web-based Blockchain Wallet is accessible on all desktop operating systems and Blockchain.info’s developers have also created mobile apps suitable for both Android and iOS mobile owners to store and send their digital assets.
Blockchain Wallet fees
In terms of the Blockchain Wallet fees charged to users, those who wish to send Bitcoin and Ethereum across the blockchain network are required to pay a fee to the mining community that are required to authorise and record each transaction. The higher the fee you commit to paying per transaction, the quicker your transfer will be confirmed.
Security
As previously stated, the Blockchain Wallet had a security update back in 2016. It is now hierarchical deterministic to ensure that any Bitcoin or Ethereum address is unique for every transaction and never reused.
On the whole, 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. This answers any questions of “is Blockchain Wallet safe?”.
Pros
- Advanced security features
- Hierarchical deterministic for each transaction
- Highly intuitive user interface
- Capable of buying Bitcoin and Ethereum directly via your wallet
Cons
- Only compatible with Bitcoin, Bitcoin Cash, Stellar and Ethereum
- Software wallets tend to be more vulnerable to cyber-attacks than hardware wallets
- Unable to buy cryptocurrency using fiat currencies directly via your wallet
