In the last couple of years, there has been a surge in the popularity of cryptocurrencies.  With the arrival of cryptocurrency, many crypto wallets and exchangers have come online where one can buy, sell, and exchange cryptocurrencies hassle-free. Just like any online brokerage platform, these crypto wallets/exchangers offer several tools to sell and purchase digital currencies such as Ethereum, Dogecoin, bitcoin, etc.

However, it’s crucial to pick the right cryptocurrency exchange to avoid any kind of trouble or loss. There are many factors to consider while picking up a crypto wallet online, including fees, payment methods, supported assets, and security. Blockchain is one of the most reputed, reliable, and oldest online crypto exchanges and wallets. It simply outshines all the new entrants in the crypto market with it’s unmatched features.

About Blockchain

Blockchain was launched in 2011. It is also an exclusive ‘digital asset partner’ of the NFL team Dallas Cowboys. The exchange has over 37 million active users with over $ 1 trillion in transactions to date. The company works on a maker/taker model for trading currency pairs. However, it only operates fully in 40 states.

Unlike many new crypto exchanges and wallets such as Gemini, eToro, and Coinbase, Blockchain is much more reliable and credible. Here is a complete review that will give a deep insight into the company.

PROS

• It offers two wallet options
• It offers multiple ways to win rewards
• It offers an Airdrop feature to receive free crypto coins
• The platform is user-friendly
• Gold account holders can also earn interest
• The exchange is available in 25 languages

CONS

• No clarity about insurance for crypto
• Restricted availability in the US
• Limited customer support service
• Trading pairs limitation
• New loans not supported

How Does It Work?

It’s quite easy and seamless to create an account on Blockchain to get started. One can easily link two accounts to transfer cryptocurrencies. In fact, one can also scan a QR code in order to transfer crypto coins into the trading wallet or to the main wallet to store them.

However, you need to know about it’s verification levels first.

• Verify your email ID
• Blockchain has 3 distinct verification levels
• The 1st stage unveils ‘Silver Level’ which gives trading clearance. In this level, one can easily trade cryptocurrencies but can’t store them. It comes with an annual withdrawal limit of $1.999 worth of cryptocurrencies.
• The 2nd level is Gold which also gives trading clearance. However, it comes with stringent security protocols such as photo ID for identification. The level permits you to make deposits of crypto and reserve currencies with higher withdrawal levels. Here, one can also get a weekly crypto withdrawal limit of $200,000 and $100,000 reserve currency. The level also gives you the privilege to get free crypto rewards, giveaways, etc.
• The top level is ‘Platinum’ which requires multiple verification details, including address proof, salary, SSN for Americans, etc. With enhanced verification, it also comes with extra Gold benefits such as over $5 million weekly withdrawal limits for reserve as well as cryptocurrencies.

Steps to open an account on Blockchain

• Enter your valid email address
• Create a password
• Put your country of origin
• Do the email verification
• Create a Verified level in order to get started.

Getting verified is very important to get started on Blockchain. Else, you can’t do anything on the platform.

Highlights of Blockchain

• One can easily sell, buy, and exchange cryptocurrencies at incredible speed.
• One can fund their accounts with various fiats such as GBR, USD, TRY, EUR, etc.
• Almost every cryptocurrency is supported, including Bitcoin, Ethereum, etc.
• One can easily trade in almost 40 currency pairs
• It constantly showcases live prices for various currency pairs to help traders to manage their orders quickly.
• It offers margin trading facilities to help investors to enhance their profits to five times
• Blockchain offers lower trading prices in comparison to other crypto exchanges

Blockchain Notable Features

– Offers the highest level of security

Blockchain is known for it’s multiple-layered security that protects all transactions around the clock.

– Lower trading fees than it’s competitors

One can find out lower trading fees on various cryptocurrencies. Also, it has a lower interest rate on lending cryptocurrency compared to other crypto exchanges.  When it comes to digital wallet funds, offer high interest.

– Multiple deposit methods

Users can easily fund their digital wallets through various credit/debit cards followed by bank transfers to buy cryptocurrencies.

– Displays real-time crypto prices

The best part of Blockchain is that one can view real-time crypto prices on the screen to browse and pick helping traders get relevant data around the clock.

– Strong customer support

Blockchain.com offers round clock customer support to resolve users’ problems.

– Funds tracking

Users/traders can easily track their funds around the clock. There is also a display feature in the trading wallet showcasing the entire asset balance in the blockchain wallet.

– Private key wallet

Blockchain.com also offers a Private Key Wallet feature that lets you sell, buy, and swap cryptocurrencies effortlessly. It can easily be accessed via smartphones to control all your crypto transactions.

– Rewards

There is a special rewards program that gives you a chance to earn over 11% on keeping the coins in your rewards account. One can get the interest accrued on coins by the end of every month. However, one can withdraw crypto from the rewards account only post 7 days.

– Airdrop

It often distributes coins to global wallets via n airdrop. The feature allows users to test out new coins. However, the feature requires a Gold account.

Blockchain Fee Structure

Blockchain has different fees, including

– Spot trading fees

Since Blockchain has a tiered maker/taker model, one has to pay fees as a maker or taker. The maker has to pay the maximum fee of 0.20%, whereas takers have to pay the highest fee of 0.40%. However, the greater the volume of trade in 30 days, the lower it’s fee.

– Margin trading

Here, you can borrow to trade more on Blockchain. However, you have to pay a fee of 0.20% and a margin recurring fee of 0.20% every four hours.

– Deposit/withdrawal fees

Blockchain doesn’t charge any deposit or withdrawal fees. However, the withdrawal amount is $10 minimum.

– Transfer fees

If you are transferring your coins from the exchange to any external wallet then you have to pay fees depending on your network.

Blockchain Alternatives

Crypto.com

It is one of the biggest competitors of Blockchain.com. Here one gets over 250 cryptocurrencies with over 0.40% fees. However, when users will use CRO they get handsome discounts, unlike Blockchain.com.

Coinbase

It also offers over 150 cryptocurrencies and charges up to 0.60% fees. However, the trade value should be $2 minimum.

Who Should Pick Blockchain.com?

It is an apt platform for highly knowledgeable crypto users or investors who are well-informed about crypto technicalities and risk-taking features. However, if you are a beginner then it might not work for you.

But, one thing one must aware of before taking the plunge is that Blockchain.com is not regulated or supervised by any international authority related to finance or the economy. Hence, the risk factor is involved.

FAQs

Is it possible to withdraw crypto from Blockchain.com?

Yes, one can easily do that. All you need to do is to go to the Withdrawal option to send the crypto to any wallet address.

Is it secure?

Well, Blockchain.com doesn’t offer any FDIC insurance for US dollar fiat funds. On top of that, crypto assets are not protected by FDIC or SIPC insurance. Hence, there is no complete assurance for your funds if anything happens in the future with the company.

Does it monitor your wallet?

Yes, it can store one’s crypto on it’s exchange. However, there is an option for a Private Key Wallet that stops Blockchain.com to access or monitor your funds and transactions.

Who runs Blockchain.com?

It was founded by Benjamin Reeves along with his friends Peter Smith and Nicholas Cary.