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Blockchain.com in August 2022

Chris
Chris

An editor at Coincrop


B

lockchain.com has been the pioneer in promoting Bitcoin and some top altcoins. It’s still leading the crypto world to produce more economic thrive. There are facts to know about the company to use its products and services best.

Disclaimer: All of the information written on Coincrop is without influence and based on our analysis. No guarantee is offered concerning the accuracy of this information and therefore, any individual following up on it does as such completely at their own risk. Rates are correct at time of publication.

What is Blockchain.com?

Blockchain.com is a well-known cryptocurrency financial service platform in the crypto-verse. Many often think of the platform as an online wallet or cryptocurrency exchange. The company certainly offers wallet and exchange services. But there are many additional crypto services available within its extent.

The crypto financing house provides services to individuals, projects, and institutions. Its precise, fast, and profitable features enable the clients to trade cryptos within the virtual realm. Lower trading prices, portfolio analysis, and live currency pair prices surely help anyone interested in cryptocurrency.

It’s one of the foremost and largest companies to exist for handling crypto trades. The active platform is also trusted by millions of people from different corners of the world. Its effective services and products with minimal flaws are always appreciated. And it holds a concrete and achievable plan for the future.

What is the history of Blockchain.com?

Ben Reeves established Blockchain.info in 2011 to track down bitcoin transactions. It started as a block explorer to allow BTC users to see public crypto transaction details. Brian Armstrong joined Reeves in 2012, only to part ways soon due to creative differences. Also, the company was changed to Blockchain.com.

The platform saw a boom in user numbers during the 2013 – 2014 period under the then-CEO Nicolas Cary. It also acquired ZeroBlock in 2013 and RTBTC in 2014 to expand its services. However, Apple’s removal of the Blockchain.com app from its play store triggered its users' international outcry in 2014. The company still had its breakthrough in 2014, making Apple reverse the decision five months later.

Peter Smith also joined the founding team of Reeves and Cary in 2014. They introduced many excellent developments to the original platform. And the company started to attract well-known venture capital investors. That’s why Reeves, Cary, and Smith are credited to found the Blockchain.com you see today.

The company raised $190 million in venture capital funding by February 2021. It raised a further $300 million in March 2021. The names to invest in the platform includes – DST Global, VY Capital, Access Industries, and Lightspeed Venture Partners. Many individuals also invested there from time to time.

Blockchain.com resides in Luxemburg. Over 37M verified users, and 87M wallets have conducted over 1 trillion crypto transactions. Its worldwide operation covers 200+ countries through 25+ language support. And the company claims to cover nearly 1/3rd of all entire bitcoin transactions.

What are the key products of Blockchain.com?

The company has 3 key products to offer its services to the customers – Explorer, Wallet, and Exchange. You can find other products explicitly mentioned, but they are mostly embedded within these three. However, recent hype on NFT calls for an additional yet-to-come product for crypto enthusiasts. 

    1. Blockchain.com Explorer

The tool enables users to navigate cryptos like BTC, ETH, or BCH (Bitcoin Cash) for balance and trading. One can toggle between blockchains in seconds through the drop-down menu from the webpage’s top-left corner. The ‘chart’ option will likely deliver the best feature with a range of insightful statistical presentations. You can see the current supply, average block size, hash rate, and more of a crypto asset.

    2. Blockchain.com Exchange

The platform has its exchange for access to the website. However, unlike other built-in exchanges, the smartphone app uses your browser to make it work. There’s an excellent selection of order types like – market, stop-limit order, and limits. About 80+ trading pairs are active with slightly fragmented options. Each crypto’s multiple markets with different fiat currencies negatively impact liquidity.

    3. Blockchain.com Wallet

The flagship feature is available for clients on iOS, Android, and web-browsing sites. Many great features are already present in the core wallet system. Main Wallet, Trading Wallet, Price Tracking, Crypto Trade, Asset Swap, Earning Interest, Stablecoin Loan – everything is right there. Having a digital but obligatory wallet is relatively easy to set and put into use. The wallet doses everything necessary perfectly.

What are the features of Blockchain.com?

An extensive number of services and products come with many user-friendly features on Blockchain.com. It’s impossible to cover everything with certain details at once. Still, you should go through the following to enjoy this platform's best.

    • 80+ Crypto Trading Pairs

Finding subtle diversity in the trading pairs is essential for any crypto investor. More trading pairs open further opportunities to make profits. And the company lets customers evaluate their chances with 80+ pairs. It may not look that diversified, but the authority keeps trying to introduce more pairs asap.

    • Separated Wallet – Exchange

Not many crypto platforms offer separate ways to utilize their wallet and exchange services. But you’re to enjoy the wallet for simple crypto trading as a basic user here. Experienced traders can choose the exchange to reduce overlooking hassles. It includes full-fledged trading with pro suggestions and tricks.

    • Lightning-Fast Trading

All the charts are fast, accurate, and updated to deliver proper insight into the running market. Even the user dashboard is simple, effective, and friendly to execute trading commands. Switching between the pairs are also pretty fast for your understanding. Each of your orders gets executed within microseconds. 

    • Available Fiat Currencies

Most crypto exchanges permit only one fiat currency for trading – the US dollar. But the company happens to allow four different fiat currencies for its customers. You can opt for – USD, EUR, GBP, and TRY. Therefore, investors find crypto trading through the exchange more simplified and comfortable. 

    • Earn in Staking Rewards

The idea of having a savings account also gets to the crypto world in a better way. Staking all your assets in the account will get you up to 13.5% annual rewards. The rate differs depending on the staked cryptocurrency. And you won’t have to buy less-known assets as the platform supports all the top ones.

    • Availability of Margin Trading

Increase your overall buying power while making up to 5x profits from your investment. Clients easily leverage the assets’ value by determining the most effective risk management technique. Flexible fund management with low-interest rates gives excellent competitive advantages to the customer portfolio.

    • Newbie Learning Academy

Not everyone starts their crypto investment journey being a professional or expert. And the platform has a learning academy to help the newcomers to cover the investment basics. No need to spend your effort or time on finding that info. Many suitable learning materials are already present in that section.  

    • Prime Exchange for Experts

This feature is particularly suitable for corporations, institutions, and market makers. It concerns many extra benefits of making large investments. Credit and lending through mutual agreement are available under the service. Low latency, daily clearing, and FTX matching are also advantages in this section.

    • Institutional Markets

It’s more like a commercial advantage rather than a personalized user benefit. The platform has already established itself as a strategic capital partner in crypto. It provides customized solutions and competitive prices. And the customers receive all the positives of the spot market and pooling liquidity.

    • White-Glove Assistance

Increasing the total monthly trading volume can get you the premium white-glove assistance. This one is available for users to trade at least $100,000 within 30 days. Trading more than the limit will reduce the transaction fees per the company policy. There’s a complete chart of spot trades to explain the fees.

Which currencies does Blockchain.com support?

The platform accepts four fiat currencies to let the customers buy their preferred crypto:

    1) US Dollar (USD)

    2) Euro (EUR)

    3) Great Britain Pound (GBP)

    4) Turkish Lira (TRY)

Meanwhile, the exchange deal with 14 cryptocurrencies to enable digital transactions:

    • Bitcoin (BTC)

    • Ethereum (ETH)

    • Litecoin (LTC)

    • Enjin (ENJ)

    • Stellar Lumens (XLM)

    • Polkadot (DOT)

    • Bitcoin Cash (BCH)

    • USD Tether (USDT)

    • Origin (OGN)

    • USD Digital (USD-D/USD PAX)

    • Algorand (ALGO)

    • Wrapped Digital Gold (WDGLD)

    • AAVE (AAVE)

    • Yearn Finance (YFI)

Fiat currencies can only purchase BTC, ETH, BCH, XLM, USDT, and USD-D. Despite supporting top crypto assets, even customers indicate this one as a flaw. Competitor platforms cover a vast number of cryptocurrency units for trading.

You can earn interest by depositing a minimum amount in a crypto unit. You’ll need a custodial or trading account to deposit the funds. Daily interest on the funds gets added to the account on the 1st day of every month. 

How do I use Blockchain.com?

An interested customer has to open an account through registration and sign-up. Users must enter the country of residence to access the available services and products. Then, the user is to enter the email id and a secure password. The process will get you an account from which you can explore the platform.

But you must open a ‘gold account’ for buying or selling through Blockchain.com. It requires you to enter some personal information and documents to support/proof your id. The authority will take some time to verify your information. You’ll have an email on your new account after successful verification.

Opening an account with the company automatically generates a non-custodial, digital main wallet. Registered users can access the account from a desktop/laptop web browser and its Android/iOS app. You can also apply for their exclusive asset-specified lending services with/without limit order trading.

Opening an account and transferring/swapping the assets are free of charge. But you must pay a certain amount to the mining network to confirm crypto trades. You can customize the payment option by choosing a regular or priority fee. It’s available when you send a deposit from the wallet to the exchange.

Is Blockchain.com safe for crypto trading?

Nearly 95% of the funds are within high-security offline cold storage. It also incorporates multi-signature validation with best cryptographic practices. The two-factor authentication features AES-256 encryption with employed private keys. Owning the private keys means you’re the all-in-all of your account.

A built-in measure even conducts periodic audits of all supported ciphers. Safety measures comply with all AML and KYC standards where applicable. Storage of info on Google Cloud ensures maximum digital security. Therefore, your investments and personal information are secure from prying eyes.

The company managed to employ an example of safety measures in the industry. It possesses no scam or hacking incidents to gain a negative reputation. Even the customers had difficulty accessing the accounts for verification errors. Everything about the company seems fully tight, intact, and secure.

How much can I earn from Blockchain.com?

The following table lists products that pay interest on a flexible terms basis:

Deposit assetsReward assetsAPY Rate

Deposit LitecoinLitecoin (LTC)

Earn LitecoinLitecoin (LTC)

2.00% - flexible

Deposit Wrapped BitcoinWrapped Bitcoin (WBTC)

Earn Wrapped BitcoinWrapped Bitcoin (WBTC)

2.00% - flexible

Deposit DaiDai (DAI)

Earn DaiDai (DAI)

8.50% - flexible

Deposit PolkadotPolkadot (DOT)

Earn PolkadotPolkadot (DOT)

5.00% - flexible

Deposit DogecoinDogecoin (DOGE)

Earn DogecoinDogecoin (DOGE)

1.00% - flexible

Deposit SolanaSolana (SOL)

Earn SolanaSolana (SOL)

3.00% - flexible

Deposit CardanoCardano (ADA)

Earn CardanoCardano (ADA)

3.00% - flexible

Deposit USD CoinUSD Coin (USDC)

Earn USD CoinUSD Coin (USDC)

8.50% - flexible

Deposit TetherTether (USDT)

Earn TetherTether (USDT)

8.50% - flexible

Deposit EthereumEthereum (ETH)

Earn EthereumEthereum (ETH)

2.00% - flexible

Deposit BitcoinBitcoin (BTC)

Earn BitcoinBitcoin (BTC)

2.00% - flexible

Conclusion

Blockchain.com is always at the forefront of taking crypto trading to a newer level. There are some drawbacks to spare considering its services.

Their services and products still have many excellent features to get you a satisfying experience.

Its free coin system through airdrops is appreciated by many. Everything is right there to ensure pleasant, safe, and profitable crypto trading.

Blockchain.com FAQs

A non-custodial main wallet gives complete control and ownership to the user. But a custodial trading wallet remains under the platform’s control. The trading wallet offers further benefits to doing crypto business.

It’s a productivity tool designed to trade NFT or non-fungible tokens. The platform has been engaged in developing the BETA version for some time. Their service aims at allowing the customers to buy, sell, and store NFTs in the account. But it’s yet to become available and developed for open access.

Service is available 24/7 to record and resolve specific issues and complaints. A user can also submit a request for an executive response. Customer support is also available through Twitter and Instagram.

The company features a favorable affiliate program. You can earn up to 50% commissions from every new referral for the 1st six months. Also, the platform has a ‘bug bounty program’ for the public to discover technical errors. Confirmation to correct a bug in the system can get a reward of up to $2000.


Chris

Chris

An editor at Coincrop
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Chris is a Crop Crop staff writer based in the UK, covering the best rates for cryptocurrency earning and borrowing products. When not at work, he's likely assembling lego models.

Blockchain.com in August 2022

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