In this review, we will take an in-depth look at Blockchain.com, a leading cryptocurrency exchange and wallet. In particular, we will look at the platform’s features for buying, selling and storing cryptocurrencies on top of your wallet, the platform’s trading fees, security and more.
Headquartered in Europe, Luxembourg, Blockchain.com has become one of the world’s leading crypto finance houses since 2011, providing services to individuals, projects, protocols and institutions.
As an early pioneer in the cryptocurrency space, the company developed a Blockchain Explorer that allowed anyone to look at transactions and analyse the blockchain, as well as an application programming interface (API) that allowed businesses to build on top of Bitcoin.
The platform also provides one of the most popular and commonly used cryptocurrency wallets, allowing anyone to manage their own funds anywhere.
Blockchain.com provides the following main products:
Exchange: The exchange offers fast cryptocurrency trading with over 40 different crypto pairs and three fiat currencies to trade.
Wallet: Blockchain.com has an easy-to-use, non-custodial wallet that can be managed from a desktop or mobile device. Users can buy and sell cryptocurrencies in minutes on the wallet and earn up to 13.5% in rewards.
Explorer: Users can get the most up-to-date prices and critical market signals to confirm trades and assess the market using industry-leading charts that include everything from hashrate to block data and mining statistics.
Institutional: Institutional Markets offers specialised lending, trading and custody solutions to native cryptocurrency firms and institutional clients.
NFT: Non-fungible tokens (NFT) will be available on Blockchain.com in the near future, with the functionality now in BETA status. Customers will be able to buy, sell and store their NFTs on the exchange and in their wallet.
WHY DO USERS TRUST BLOCKCHAIN.COM?
Cryptocurrency traders are always looking for the best platform to buy and trade cryptocurrencies in a secure environment with the lowest costs, which is why blockchain.com, one of the first platforms to launch in this field, has been so successful.
In particular, the registered platform Money Services Businesses (MSB) is well known in the cryptocurrency space for being a reputable company with more than 31 million verified users worldwide. The exchange is also backed by renowned investors from Silicon Valley to Wall Street to London.
In addition to processing more than $1 trillion in transactions since its inception, the exchange has seen a third of all Bitcoin (BTC) network transactions go through Blockchain.com, which is noteworthy given that BTC is the most valuable digital asset in the cryptocurrency market.
Below, we have listed some of the key reasons why people use the exchange:
More than 200 countries around the world have access to the platform, in addition to 81 million wallets created so far;
Blockchain.com’s global management team has a combined experience of over 200 years in some of the world’s most recognised financial institutions, technology companies and start-ups;
Blockchain.com prides itself on being the “only exchange that provides its customers with a 24/7 live chat service”;
Through a creator-taker model, the exchange offers competitive rates;
The exchange offers multi-layered security to ensure your funds are safe;
Institutional grade research and data is available to provide you with information to help you formulate your trading strategy.
BLOCKCHAIN.COM KEY PRODUCTS AND FEATURES
Blockchain.com exchange which is used by millions of customers worldwide offers users competitive rates with fast trading and a professional experience with over 40 trading pairs available and more scheduled to be added in the future.
In addition, the exchange offers users other benefits such as:
Dashboard: A simple, straightforward and easy-to-use dashboard that allows users to buy and sell in microseconds with ultra-fast transactions providing you with real-time market prices;
Trading pairs: Trade over 40 different trading pairs, including BTC, ETH, DOGE, DeFi, Stablecoins and many more;
Save money: The more trades you make, the cheaper your fees will be;
White glove support: Increase your monthly trading volume to get white glove support. White glove support is available when you trade more than $100,000 in volume in a 30-day period. As you trade more each month, your fees will decrease;
Global currency support: Buy, sell and trade in US Dollars (USD), Euros (EUR) and British Pounds (GBP).
Margin trading allows Blockchain.com users to 5 times their potential profit, as customers can leverage the value of assets they own to increase their own purchasing power.
Determine the most effective risk management technique for your portfolio by using flexible fund management to diversify your assets.
Users gain a competitive advantage in trading by taking advantage of some of the lowest interest rates available.
Customisable charts: TradingView’s built-in charts allow users to modify their charts with a wide range of technical analysis and illustrations.
Deep liquidity – Take advantage of a deep liquidity pool provided by a consortium of global market makers.
Execution speed – Execute orders in microseconds using one of the fastest matching engines in the crypto industry.
Blockchain connects – Effortlessly transfer funds between your Exchange trading account and the non-custodial Blockchain wallet.
Blockchain.com offers competitive fees with a straightforward maker-taker model pricing structure that starts with an initial level.
Orders that supply liquidity to the market are referred to as “maker” orders, while orders that remove liquidity from the market are referred to as “taker” orders.
The exchange’s fee structure compensates makers with a reduced fee in exchange for assisting in the provision of the liquidity necessary to maintain a competitive and orderly market.
Simply put, the more you trade, the lower your rates will be. The chart below shows a list of spot trading fees, as well as the twelve tiers based on 30-day traded volume.
Margin Trading Fees
The margin trading fee is 0.02%, with margin interest compounded at a rate of 0.02% every four-hour period.
The Prime exchange is for institutions, corporations, market makers and professional traders. It provides this clientele with a host of advantages such as:
Low Latency: Low latency platform with industry-leading performance implemented in LD4 with placement for certified market makers;
Credit and Lending: Provision of credit lines and asset borrowing is possible through customised agreements;
FIX Binary Matching: Blockchain.com’s FIX binary matching engine is the fastest exchange trading engine available;
Competitive trading fees: Active liquidity providers are rewarded with low fee schedules;
Daily clearing: Using a network of leading banks in Europe and the US, customised settlement windows are available;
White-glove support: For high-value clientele worldwide, Blockchain.com provides personalised customer service.
In the programme, affiliates earn up to 50% commissions for the first six months from each new trader they refer when trading on Blockchain.com Exchange.
The affiliate programme offers the following benefits:
Payments are made directly to your bank account, and there are over 46 different currencies available;
There is no limit to how much you can earn as an affiliate – the more your affiliates trade, the better;
Real-time data provides accurate reporting of your performance statistics.
2. Cryptocurrency Wallet
As mentioned above, Blockchain.com wallet is one of the world’s most popular crypto wallets with over 81 million wallets created, allowing users to buy, sell and earn cryptocurrencies.
Blockchain Wallet is accessible in 25 languages and serves consumers in more than 200 countries, enabling millions of people to buy cryptocurrencies through their mobile device or desktop computer.
Through the wallet, customers can buy cryptocurrencies in minutes in three simple steps..:
Verify your identity;
Add a payment method to your account, such as a debit/credit card or bank account;
Buy your cryptocurrency.
Transfer your cryptocurrency to a rewards account within the wallet, and you will earn up to 13.5% in annual rewards, which will be deposited into your account monthly.
Blockchain.com also collaborates with innovative projects to help them distribute their token to eligible Wallet customers through Airdrops. Previous airdrops have featured tokens such as Stellar (XLM) and Blockstack, as well as Hiro and Stacks (STX).
Blockchain.com’s private key wallets, which operate on the principle of “not your keys, not your crypto”, are the most widely used wallets for maintaining self-custody of your cryptocurrency.
Users who are ready to take control of their private keys can do so with the use of a private key recovery passphrase, which is included in the crypto wallet software.
3. Blockchain.com Explorer
In addition to exploring the major blockchains, the explorer also allows users to confirm transactions, evaluate the market and learn more about cryptocurrency in general.
Furthermore, customers benefit from real-time cryptocurrency prices, as they get the most up-to-date prices and charts, as well as key market signals.
Apart from that, the exploration tool provides best-in-class statistics ranging from hashrate to block data, mining information and more, allowing users to create crucial trading strategies to enter the market with confidence.
Finally, a robust Blockchain Data API is also made available to users; whether you are a data analyst or simply a cryptocurrency enthusiast, the sophisticated application programming interface will come in handy.
4. Institutional Markets
Blockchain.com Institutional Markets has established itself as the leading strategic capital partner for the world’s leading cryptocurrency trading, investment and mining companies since its inception in 2017.
Having a solid financial sheet and significant experience in the Blockchain.com industry allows us to provide competitive pricing and customised solutions.
The following is a list of benefits offered by Institutional Markets.
Trading volume: Over $5 billion in institutional trading volume;
Loans originated: Up to $4.8 billion in loans originated;
Equity capital: $537 million in equity capital raised;
Structured Products: Clients benefit from Blockchain.com’s extensive experience in the cryptocurrency business and strong industry ties;
OTC Spot and Options: For every major digital asset, the platform provides spot and options market contract quotes by pooling liquidity internally and in more than 20 venues around the world.
5. Blockchain.com NFT (BETA)
Non-fungible tokens (NFT) will soon be coming to Blockchain.com, with the feature currently in BETA mode. Customers will have the ability to buy, sell and store NFT.
BLOCKCHAIN.COM DEPOSIT AND WITHDRAWAL
It is worth mentioning that fiat deposit fees in the US, Europe and the UK are free.
Blockchain.com does not charge any fees when you transfer any cryptocurrency to the exchange, but you will be asked to pay a fee to the mining network for confirming the transaction, as is the case with all cryptocurrency transactions.
When sending a deposit from your Blockchain Wallet to the Blockchain Exchange, you have the option to customise the network fees to your liking by choosing a regular or priority fee when sending the transaction.
Regular rates are less expensive, but transactions can take up to an hour to process and verify.
Priority rates are more expensive, but are adjusted so that transactions are completed within an hour.
When withdrawing cryptocurrencies from your account, Blockchain Exchange can ensure that your cryptocurrency withdrawals are handled quickly and that your funds are available by calculating the best network rate for each transaction.
Please note: Blockchain.com charges a modest withdrawal fee on all cryptocurrency withdrawals from the exchange. To see the minimum withdrawal amount for each supported cryptocurrency, click here.
IS BLOCKCHAIN.COM SECURE?
The exchange employs industry-leading security measures, including offline cold storage for funds and a function to manage private keys. In addition, Blockchain.com does not have a negative reputation in the industry and has not been the site of any hacking incidents.
Cold storage security measures
95% of all funds are held in cold offline wallets;
Funds are distributed worldwide in highly secure facilities at sites that are dedicated to physically safeguarding high value assets;
The use of multi-signature validation ensures that no one can access the funds on their own;
In accordance with cryptographic best practice, private keys cannot leave the hardware security modules where the funds are stored.
Both Wallet and Exchange support two-factor authentication, employ AES-256 encryption, and private keys for escrow funds are held on FIPS 140-2 certified devices;
Blockchain.com requires TLS 1.2 for all Internet-facing applications and performs regular audits of supported encryption;
Strong ciphers are used to encrypt data stored in the cloud and on-premises.
Client-side private key management is the most widely used cryptographic software in the world;
Owning private keys means you own your cryptography.
Privacy and trust
Blockchain.com does not monitor funds held in non-custodial private key wallets, only funds held in exchange custody accounts;
Blockchain.com’s compliance team ensures that the company complies with all applicable international AML and KYC standards, ensuring that you can trust Blockchain.com and any counterparty;
All personally identifiable information is maintained on the Google Cloud Platform, which is protected by industry-leading digital security.
Error Reward Programme
Blockchain.com offers a generous error reward programme; therefore, if you discover any current or zero-day vulnerabilities, the platform invites you to submit them through the programme; if they are confirmed and fixed, you can receive up to $2,000 as a reward.
HOW TO CREATE BLOCKCHAIN.COM ACCOUNT (STEP-BY-STEP)
Step 1: Go to https://www.blockchain.com and then click [Register] in the top right corner.
Step 2: Then select [create an Exchange account]].
Step 3: Select your country of residence before entering your email address and password and clicking [Create Account].
Step 4: Verify your intent by entering your first and last name as well as your date of birth.
Step 5: Before selecting [Continue], provide your address information, which should include your country of residence, address, postcode and town/city.
Step 6: Go to your email account to verify your email.
Step 7: After opening your email from Blockchain.com, click on [Verify my email].
Step 8: Select [Deposit to trade] and make a deposit of your fiat or cryptocurrency into the exchange account before you can start trading. The whole procedure is simple and straightforward from start to finish, and should take no more than two minutes to complete.
BLOCKCHAIN.COM CUSTOMER SUPPORT
Blockchain.com has a support centre for the exchange where users can find popular items to resolve their queries. If customers need additional support, they can contact the exchange by submitting a request.
The 24/7 live chat support feature allows you to communicate with customer service representatives directly within the exchange at any time of the day or night.
Users can find all customer communication through the Blockchain.com support centre. In addition, customers can follow Blockchain.com on social media to stay up to date on new features, market news and other vital developments.
PROS AND CONS
Competitive commercial rates;
Trusted by millions of users since 2011;
The exchange has its own non-custodial wallet;
No fiduciary deposit fees within the US, UK or Europe;
Advanced trading features for regular and institutional customers;
Available on desktop or mobile computers;
Constant development in the space, including the addition of new cryptocurrency pairs and NFT features.
There are only 40+ different crypto pairings available for trading, and many in-demand cryptocurrencies are not yet currently available.
Overall, Blockchain.com is a cryptocurrency platform with a solid and “clean” history in the market that traders of all skill levels can feel confident using, regardless of their experience or level of expertise.
Since 2014, the platform has been backed by a group of trusted investors from Silicon Valley, Wall Street and London, who have contributed over $500 million in capital helping to add to the company’s current market value of over $5 billion.
In addition, the exchange is a pioneer in the cryptocurrency market, as it is constantly implementing the most up-to-date and cutting-edge solutions for its clients.
Furthermore, the platform pays special attention to the user interface (UX) and specifications, which makes the platform exceptionally user-friendly, as seen in the client’s seamless account-to-wallet exchange function, among other features and functions.
Finally, the firm is fully transparent, accessible in over 200 countries worldwide, with 24-hour customer support, which is something any cryptocurrency user would find really useful.
FREQUENTLY ASKED QUESTIONS ABOUT BLOCKCHAIN.COM
What is Blockchain.com?
Blockchain.com has been in business since 2011, and is a well-established cryptocurrency exchange. It offers its users over 40 different cryptocurrency pairings to trade with one of the fastest cryptocurrency matching engines in the world to execute trades.
What are Blockchain.com’s fees?
Blockchain.com offers competitive trading fees on a tiered maker-taker model. Users are incentivised to trade, as the more you trade, the lower the trading fees. Traders can fund their digital wallets and buy cryptocurrencies using their debit card or credit card, as well as bank transfers, to fund their accounts.
Is Blockchain.com secure?
Blockchain.com is a secure exchange with multiple layers of security, including AES-256 encryption, to protect all transactions. The platform uses industry-leading software and private key management with 95% of assets stored in offline cold wallets in highly secure facilities using FIPS 140-2 certified devices.
Does Blockchain.com have a crypto wallet?
Yes, it includes an easy-to-use cryptocurrency wallet that allows users to buy and sell cryptocurrencies in minutes, earn up to 13.5% in rewards and maintain complete control over their assets due to the wallet’s private key feature.