Blockchain.info Wallet Review 2021: The ultimate test
What are the specific advantages of the wallet? Which cryptocurrencies can be traded?
All information about the Blockchain Wallet as well as the comparison with our test winner Wallet from eToro will be explained in this test article.
Set up Blockchain.info Wallet - Our guide
Setting up the Blockchain.info wallet is relatively uncomplicated. All you have to do is enter your email address and a password that you have to confirm. You will then receive a confirmation email. After that, you can start buying Blockchain.info wallet currencies.
In concrete terms, these are of course Bitcoins, but you can also exchange them for Bitcoin Cash, Stellar and Ethereum. If you pay by bank transfer, you first have to have your account verified.
If you don't have a PC or laptop at hand, you can often register via smartphone. You can also create and deposit your own wallet via the Android Wallet.
Setting up the Blockchain.info wallet is not difficult, as was made clear in the previous paragraph. Blockchain.info is a so-called hot wallet that stores data online. There is also no software needed to create your own account. Rather, you can simply access the website via your own browser on your PC. Nothing more is necessary.
If you want to register on your mobile phone or tablet, we recommend downloading the app to buy Blockchain.info Wallet Coins as easily as possible. The application is available in the Android and iOS wallet. It does not require much storage space and is also uncomplicated to use.
If you want to send Blockchain.info Wallet Coins, you can do so even more easily via the app. If you want to send or receive money to a friend or acquaintance, for example, you can do so within seconds via QR code.
What is the Blockchain.info Wallet?
Blockchain.info is now called Blockchain.com and is one of the best-known wallets for cryptocurrencies such as Bitcoin and Ethereum. The company was founded on 30 August 2011. Currently, the company has several branches and is one of the largest exchanges for cryptocurrencies at all. The company is located in Luxembourg. Most of the members of Blockchain.info are from the USA (16.8%).
But the website is also very popular in India and Russia. How attractive is Blockchain.info really? How high are the Blockchain.info wallet transaction fees? What additional Blockchain.info wallet fees should one expect? What level of difficulty should I expect when setting up the Blockchain.info wallet?
Blockchain.info Wallet Advantages & Disadvantages
What are the advantages and disadvantages of the site in the Blockchain.info review? One advantage of the website is undoubtedly the fact that setting up the Blockchain.info wallet is relatively uncomplicated. Setting it up can be easily done even by people who are less computer and internet savvy. Sending and requesting cryptocurrencies is also very simple and can be done within 1-2 minutes at the most.
One disadvantage of the website is clearly the relatively small selection of cryptocurrencies that can be sent and received.
This is somewhat disappointing compared to other wallets. If you want to buy and sell lesser-known cryptocurrencies, for example, other platforms are recommended, such as Bitpanda or Binance. In any case, the Bitcoin wallet currencies are rather a negative point in the Blockchain.info wallet test.
In fact, it quickly becomes obvious in the Blockchain.info Wallet Review that the exchange is a so-called hot wallet. What does this mean for the user? A hot wallet is primarily stored online. The user's data is therefore "stored" in the spheres of the internet. Of course, this is not irrelevant in terms of security.
Because unlike "cold wallets", they are thus at least theoretically vulnerable to attack. Hackers can set the site as a target. If the currencies are stored offline, on the other hand, this is much less likely. If the values are mainly stored on USB sticks or similar, they cannot be hacked via the internet as long as they are stored externally. In that case, someone would have to break in.
A pure online hack is then unlikely. However, the fact that the site is still a hot wallet also saves the company administrative effort.
A positive aspect of the site is that the private keys of Bitcoin & Co. are only stored on the client side, according to the platform. This means that the site has no direct insight or access to the private addresses of the users. It should be emphasised, however, that as a hot wallet, the site still uses numerous security measures to make a possible attack scenario by hackers as low-risk as possible.
Blockchain.info Wallet Coins & Currencies
The Blockchain.info review should also mention that the company has changed its name and domain to blockchain.com. However, this makes little difference in terms of the coins & currencies available on the site. The number of Blockchain.info wallet cryptocurrencies is small. As mentioned earlier, there are only 6 cryptocurrencies available in terms of Blockchain.info Wallet cryptocurrencies.
In the Blockchain.info Wallet test, sending and receiving Blockchain.info Wallet cryptocurrencies is particularly easy. The website itself only supports Bitcoin, Bitcoin Cash and Ethereum. But even without Blockchain.info Wallet experience, you quickly see that the site offers much more information.
You can find current prices, charts and conversion tools for the ten largest cryptocurrencies. In addition, you can find data about the Bitcoin ROI (Return of Investment), the largest markets and many other facts on the site.
On many platforms, you can buy various cryptocurrencies directly with fiat currencies (euros, etc.). According to our Blockchain.info Wallet Review, this is not the case with this platform. Here, you first have to buy Bitcoin with fiat currencies.
Then you can buy Ethereum, Stellar or Bitcoin Cash with the acquired Bitcoins. Whether and when this restriction will be changed could not be evaluated at the time of our Blockchain.info wallet review.
Blockchain.info Wallet FeesHow high are the fees in the Blockchain.info wallet test? The advantage of the platform is clearly that the site does not charge any general fees for using the account or anything similar. In fact, it is primarily transactions that earn the company quite a bit in the Blockchain.info Wallet Review.
Depending on the utilisation of the blockchain
It is interesting to note that, according to our Blockchain.info wallet experiences, it is possible to reduce the fee on the platform. This is, of course, once to wait for the blockchain utilisation to drop. You can easily see this by looking at the transaction duration. But immediate measures are also possible.
Specifically, one looks for a field with the name "customize" or a term with the same meaning. Then you get the minimum amount you have to pay. Then you just have to enter it. How much one then saves varies. In our Blockchain.info review, it is up to 50%.
Regular BTC network fee
Blockchain.info Wallet Functions & Extras
What functions and extras are available on the platform? Basically, the platform focuses on the general aspects of wallets. Buying and selling Blockchain.info Wallet Coins Bitcoin, Ethereum, Stellar and Bitcoin Cash are of course the focus. The secure storage of the values online is the main focus for the site.
Nevertheless, there are some functions that are worth noting. One of these is the site's search function. Through the site, one can easily search for public Bitcoin addresses, transactions or locks. This is the case for Bitcoin, but also for Ethereum and Bitcoin Cash.
In addition, the site offers a variety of statistics and data in the Blockchain.info Wallet Review, which provides information on price, block size, number of daily transactions and much more. Detailed charts provide information about the developments of the largest cryptocurrencies.
For people who can demonstrate special commitment and knowledge in the crypto world, the site is interesting for several reasons. This is because the platform offers programmers the opportunity to use the company's APIs and integrate them into their own website.
In addition, the Blockchain.info (Blockchain.com) site also has a research section. Results from this are published regularly and can be read.
Android and IOS App
You can trade in 25 languages via the Android and iOS apps. A whole 22 currencies are available to deposit with. The app's automatic backups keep your private keys and account data safe. Even if you lose your mobile phone or it breaks down, you won't lose anything on the app.
It is also worth noting that the company also sells hardware wallets for the safe deposit box. These are cold wallets that are especially suitable for storing Blockchain.info wallet currencies. The device is called "Lockbox". Visually, it is more reminiscent of a USB stick.
It can store data and is also available as a security key for Google, GitHub, Dropbox and more. Using a USB cable, you can simply plug it into your laptop or PC and use it. It only takes a few minutes to set up. No additional software needs to be downloaded.
It should be noted that the lockbox was created especially for Blockchain.com or Blockchain.info. This means that it is best used if you want to buy from Blockchain.info and then store cryptocurrencies externally.
Is the Blockchain.info Wallet secure?
How secure is the website? This is an essential question if you want to buy from Blockchain.info. How secure is the site really? After all, in the crypto world, investments in five and six figures are not uncommon. There are undoubtedly black sheep among the crypto platforms.
With regard to the security measures, however, one must at least give the website a modicum of respect. The site offers security and the highest level of encryption on many levels. This is easy to recognise even as a regular user. You can set up a 2FA authentication.
Then one can be authenticated by SMS code, Yubikey or Google Authenticator before logging in. Last but not least, an additional recovery password is available. In addition, access from anonymous networks such as TOR can be blocked.
High effort for maximum security
It is also worth noting that the platform is a hierarchical deterministic (HD) wallet. Here it becomes clear that the company actually invests the Blockchain.info wallet fees in security. This should be taken into account when buying Blockchain.info. This is because the addresses are generated anew for every transaction. This means that one's own transactions are protected and remain private.
The company is active in many ways to keep security standards as high as possible. This is done, for example, through a reward programme to find errors. If users find vulnerabilities, they receive a reward from Blockchain.com. An internal team also takes care of the maximum security of the site.
In addition, there are external security checks by third parties that put the wallet through its paces. This makes it clear that the Blockchain.info wallet transaction fees are actually also efficiently used for high security standards. The site is additionally HTTPS encrypted.
Blockchain.info Wallet Experience on the Internet
Blockchain.info changed its name to Blockchain.com in recent years. The site is one of the best-known wallets in the crypto scene worldwide. The hundreds of thousands of users usually appreciate the platform's comprehensible overview. Reliability and high security standards are highly appreciated by the platform's users.
Blockchain.info Wallet Test Conclusion - Our Evaluation:
Our conclusion on the Blockchain Wallet: It is a very simple and intuitive wallet, but only relatively few cryptocurrencies are available. For this reason, we recommend our test winner wallet from eToro, as more than 120 cryptocurrencies are available here.
How can the website be summed up in a few sentences? The Blockchain.info wallet transaction fees are acceptable. The platform offers the possibility to easily reduce the Blockchain.info wallet transaction fees to a minimum. The selection of Blockchain.info wallet currencies is not particularly large.
However, Bitcoin Cash, Bitcoin, Ethereum and Stellar provide a good selection for beginners and those who are not particularly interested in AltCoins. An advantage of the site is undoubtedly the high standard of security.
Also worth mentioning is that the site itself does not charge any Blockchain.info wallet fees for the mere use of the site or e.g. inactivity. Last but not least, the clear structure and easy handling of the website are plus points.
Blockchain.info Wallet FAQs
The Blockchain.info Wallet is an online wallet. To be able to use it, you need an account with the provider.
Once you have the online wallet, you can trade cryptocurrencies with your account. Depending on the desired cryptocurrency, it may be necessary to register with another exchange.
The platform scores with high security standards. Nevertheless, it is an online wallet, so residual insecurities could remain.
Yes, Blockchain.info has developed a special wallet app for its customers. Here you can dispose of your coins