Blockchain Wallet Review: Comprehensive Review and Guide

Blockchain is one of the most reputable crypto companies, situated in Luxembourg. Its wallet is available for both web and mobile usage and it’s considered one of the most preferred on the market. Supporting most of the major coins – Bitcoin, Bitcoin Cash, Ethereum and Stellar, in this review of the Blockchain wallet, you will see why it is so popular.

01.Blockchain Wallet Features & Fees

Stepping into the blockchain world, you should completely understand how the public ledger works for the purpose of extracting the best of it for yourself. In a word, miners are confirming transactions to be added to the blockchain and what they receive in return is the accompanying fee. That’s why higher paid transactions are processed way faster than others. The Blockchain wallet is offering you a fixed ETH fee and dynamically calculated transaction taxes for each of the other three cryptocurrencies.

If this isn’t convincible enough, I would like to mention the built-in exchange function integrated into the web application, which is for sure making users’ life much easier. For all these reasons, keep reading to find out all the details you might want to know.

Built-In Exchange

Straight to one of the most interesting Blockchain wallet specific features – its built-in exchange. It isn’t available for all its users but just for some of the regions, supported by the project. There are more than 230 countries offering this option but if you can’t find yours in the list, send feedback to the supporting center. If you’re lucky to be part of them, you can explore the advantages of the integrated exchange by simply navigating to the dedicated tab on the left-side menu. Of course, due to the 2FA, you’ll be requested to verify your identity before you proceed using it. All the four supported coins are accessible for exchange actions in the platform. The crypto-to-crypto exchange platform of the Blockchain wallet requests you to type in the desired amount and hit the Exchange button. A pop-up window will appear with confirmation of the requested action and if everything’s correct, you should simply click the Complete Order option to finalize the process. You can have an overview of all your orders in the History tab of the interface.

If we stop by to the built-in exchange’s fees, the usual process might be observed. Since there are two transactions to exchange a cryptocurrency – one to send yours and another one to receive the switched one, you’re supposed to pay for the outcoming payment and receive the swapped for free. Fees are considered proper chosen, depending on the currency’s current price.

Transaction Fees

If you would like to know how much fees you’re going to pay for a certain transaction, then go to the particular coin you’ll operate with and check its details. Once again, only the Ethereum taxes are fixed, the other three coins are influenced by a dynamic pricing model, which calculates the fee, depending on the network conditions at the moment and the size of your payment.

When it comes to choosing, you might either set a Priority or a Regular fee. If you decide on the first option, then your transaction will be added to the blockchain in the next one hour. If you keep the second possibility, you should be a bit more patient.

Create an Address

When you go to the “Addresses” section, you’ll be able to organize your wallet. Choose from creating multiple sub-wallets to distinguish your funds or generate new ones. You can manage it all using this tab. The creation of a new address also happens here. Just click on the “+” button.

If you ever decide to import an address from another wallet, here’s the place to do so. Make sure you completely understand what you’re doing to avoid any mistakes.

Send and Receive Assets

For the purpose of sending some coins you’re supposed to simply enter the receiver’s address and type in the desired amount to transfer. The fee will automatically appear and when you submit the request a pop-up confirmation window will summary your data. Approve it and it’s all done.

Same with receiving coins, generate yourself an address by clicking on the coin you would like to receive and share it with the sender in the form of a string or a QR-code. Make a note that your Ethereum address will remain the same.

Specific Functions

Here, I would like to show you something specific when it comes to the mobile edition of the Blockchain wallet. It’s completely understandable to prove millions of downloads of this version because of the interesting pairing code feature in it. This is actually a QR-code to synch your web and mobile wallet. All you need to do is to check if you’re supporting the latest version of the wallet on both your devices.

When you initially run the mobile app, follow the 3 stages and then log into your computer and enter your account. When you click the Show Pairing Code button, the system will display it as a QR-code to scan with your smartphone. This is something to highly secure your funds and you should definitely keep this code away from other people’s eyes.

Possible Issues and How to Avoid Them

Most commonly experienced issue? It’s the confirmation email. If you’re missing your authorization email after more than five minutes, then check your spam folder. You can even add the Blockchain wallet in your contact to prevent their emails from being filtered out. Not there? Call your email provider to make sure they haven’t block the Blockchain domain.

Blockchain Wallet on Social Media

Social media always influenced everything, surrounding us. It keeps you updated and tuned for what’s coming and you’re able to stay informed for what interests you most. Follow the Blockchain wallet account to get the latest news when it comes to your wallet and its enhancements.