Bitcoin Wallet Overview Blockchain.com: how to create and use
With the development of cryptocurrency, the issue of its storage is of interest to more and more users. The main requirements imposed by the holder of virtual coins: security and convenience. Blockchain.com – an online wallet that meets the needs of many users, provides safe and comfortable storage of cryptocurrencies.
How to create a Blockchain Wallet
Service Blockchain.com It appeared in 2011. The owner company is located in the Netherlands and specializes in providing various services for working with cryptocurrency.
Initially, the wallet supported only bitcoin, other cryptocurrencies were added during the operation of the Blockchain Wallet.
To register a wallet, you need to perform the following steps:
- go to the website Blockchain.com;
- go to the “Wallet” section;
- go to the wallet registration form;
- enter the registration data, click “Create a cryptocurrency wallet/Createwallet”.
- confirm the email address in the received email.
Now access to the main functionality of the wallet will be open.
After the rise in popularity, the cryptocurrency immediately began to attract a large number of scammers, since the legislation of almost all countries does not regulate the circulation of cryptomonets in any way. One of the types of fraud is phishing sites. Similar doppelgangers exist in Blockchain.com .
Important! It is not recommended to go to the site from various links and search engines. The difference between a real site and a phishing site may be in the different spelling of one letter, and at first glance it is often impossible to notice it.
Personal Account interface
The interface of the personal account contains several functional sections in which the following operations can be performed:
- buying cryptocurrencies;
- coin exchange;
- airdrops– free distribution of coins, which will soon appear in Blockchain.com;
- why cryptocurrencies;
sections on individual coins, where you can view the balance, exchange rate and transactions carried out.
On the top panel there are buttons “Send”, “Receive”, “Security Center and “Settings”. There is also a button with a bell image, by clicking on which you can find out the latest news about cryptocurrency, as well as a page refresh button.
The interface of the latest version is partially Russified.
Security settings and Wallet management
You can increase the security of using the wallet by setting up two-factor identification and creating a copy of the wallet.
You can find out the number of the Blockchain bitcoin wallet in the “General” section, or from a letter sent to the email address after registration.
A user can create several wallets and use each of them repeatedly. But in this case, there is a danger of tracking operations by unauthorized persons. If you need to keep payments anonymous, you can create a separate address for each operation.
How to receive and send funds
After going to the “Request” section/You can copy or generate a QR code to send to the sender.
You can send coins from your blockchain wallet to a known address or by QR code.
Important! It will be impossible to cancel the transfer and return the mistakenly sent coins. Therefore, it is important to check the banking details.
If the address of the exchanger or cryptocurrency exchange is specified as the recipient of the funds, the withdrawn coins can be exchanged there for fiat money.
How to restore your wallet if you lost your password
When registering a wallet, the user receives a secret (seed) phrase. It consists of 12 words that need to be entered in the correct order, separated by spaces. The secret phrase can be obtained in the “Security” section.
With this phrase, you can restore a wallet whose password has been lost.
You need to start the recovery process by clicking on the “Restore funds” button. In the window that opens after that, you need to enter new authorization data and click the “Restore funds” button.
Strengths and weaknesses
The main advantages of the wallet Blockchain.com:
- convenient and intuitive interface with the ability to perform coin exchange operations;
- ease of use;
- availability of a mobile application.
Important! The user determines the transaction fees independently, but the larger the amount, the higher the speed of operations. If the amount is very small, the transaction may be rejected by the system.
The disadvantages of the wallet are related to its reliability. All data is stored on a remote server, when hacked, funds can be stolen by intruders. You can use the wallet only if you have access to the Internet.
The wallet is not completely decentralized. The Company can get access to user keys and set limits on the use of funds at its discretion. Exact data on the boundaries of the company’s interference in the operation of private wallets are unknown. This violates the basic idea of the blockchain – the decentralization of the network.
Reviews about blockchain.com
The Blockchain wallet has a good reputation among users. Therefore, it is one of the long-livers among such services.
At the same time, some cryptocurrency owners do not consider the wallet reliable enough and do not recommend storing a large amount of funds in it.
Published: 25 August, 2021