Blockchain.com Crypto Platform Review 2022
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Blockchain.com Review 2022
In recent years, the term Blockchain has been profoundly ingrained in our vocabulary. Almost everyone has heard of blockchains, even if they don't understand how they work; however, things were quite different back in 2011 when Ben Reeves (founding member of Coinbase) established Blockchain.com. Even though Bitcoin had only been in existence for two years at the time, only a small group of crypto-anarchists, hackers, and other misfits seemed to care.
Today, Blockchain.com is widely regarded as the world's most popular cryptocurrency exchange and wallet service provider with a mission to transform the $14 trillion financial services sector—supported by notable investors, including Lightspeed Venture Partners and Google Ventures.
In this guide, we'll take a close look at Blockchain's website. Before getting to the nitty-gritty, let's have a look at this platform’s history.
Blockchain.com Roots
Headquartered in Luxembourg, Blockchain is one of the oldest cryptocurrency exchanges, started almost 11 years ago in 2011 by Ben Reeves. The startup began as a blockchain explorer under Blockchain.info, which later changed to the name we’re now familiar with. Initially, the company offered an explorer (tool) that allowed users to input the hash of every transaction on the bitcoin blockchain to get more data, such as the payments, confirmations, and the wallet addresses of the recipient and sender.
Over time, Blockchain.com developed an open-source bitcoin wallet, which has expanded to include more cryptocurrencies and stable coins. The wallet provided by the company is a non-custodial wallet, which means that users can retain ownership of their private keys. Some notable examples are Argent, Coinbase Wallet, Zeno, and other non-custodial wallets.
During its first ten years of operation, the company generated total revenue of $800 billion. In addition, the platform operates a bitcoin e-wallet and sells unique analytical software solutions developed in-house. The number of individuals who use the trading platform regularly surpasses 31 million, with participants from more than 200 countries across the globe. On Blockchain.com, there are 43 trading pairs available, including the most renowned crypto/fiat pairings in the world.
Blockchain.com – Core Products
Blockchain.com offers a platform for storing, utilizing, and managing crypto assets and exploring transactions—while developing financial services standards and the infrastructure for crypto exchanges.
Decentralization and anonymity are central to cryptocurrency's goals, and end-users maintain some of Blockchain.com's products rather than being available via the company's website. Meanwhile delivering market data and analytics, its primary products include:
- Cryptocurrency Exchange: Fast cryptocurrency trading—with three different fiat currencies and over 40 other cryptocurrency pairings to choose from.
- Cryptocurrency Wallet: A user-friendly non-custodial wallet where traders can purchase and sell cryptocurrencies in seconds and get a 13.5% reward.
- Market Explorer: A platform with industry-leading graphs that includes everything from data block to hashrate and mining statistics.
- Institutional Markets: Specialized lending, custody, and trading solutions for crypto-native companies and institutional market users.
- Non-Fungible Tokens: It will soon be available on Blockchains' website, allowing users to sell, purchase, and store them in their non-custodial wallets.
Sign up for a free Blockchain.com account here.
Cryptocurrency Wallet
Undoubtedly, the Blockchain.com wallet is one of the world's most popular cryptocurrency wallets. Over 81 million wallets have been established to date, allowing users to purchase, trade, and earn bitcoin via various methods. With the Blockchain Wallet available in 25 languages and serving customers in more than 200 countries, millions of individuals can buy cryptocurrency using mobile devices or desktop computers.
Customers may purchase cryptocurrency with the wallet in three easy steps in minutes:
- Start by clicking on the "Get Started" button.
- Enter your email, generate a strong password, and select your country of residence.
- Verify your identity by providing authentic information.
- Check the box by reviewing the information provided below.
- Once done, link debit/credit card or bank account.
- You're all set to buy your cryptocurrency.
Still confused? Watch the account opening video posted on Blockchain.com's YouTube channel.
Blockchain Rewards Account
As discussed above, you may earn up to 13.5 percent in rewards each year if you transfer your cryptocurrency into an Earnings Account inside the wallet, sent into your account every month. Aside from that, Blockchain.com engages with creative projects to introduce their tokens to Wallet clients who are qualified for them via Airdrops. The earlier airdrops include tokens like Blockstack, Stellar (XLM), and Hiro and Stacks (STX).
Wallet Security
Blockchain.com's Wallets, which operate on the "Not Your Keys, Not Your Crypto" code, are the most widely used wallet for preserving bitcoin ownership, accounting for more than 80% of all bitcoin transactions in 2017. When a crypto wallet user wants to regain possession of their private keys, they may enter a "Secret Private Key Recovery Phrase" provided with the wallet application.
Cryptocurrency Exchange
Used by millions worldwide, Blockchain.com exchange provides a professional experience to every user. On top of that, it gives users reasonable fees, speedy transactions, and an outstanding experience. There are now over 39 trading pairs, with more to be introduced shortly. Furthermore, the exchange provides customers with various additional perks, such as a dashboard, trading pairs, white gloves, and currency support globally.
Margin Trading
Blockchain.com users may utilize the asset value by boosting their purchasing power, allowing them to potentially fivefold the amount of profit they make. Users get a competitive edge due to the lowest interest rates accessible on the exchange. The idea is to determine the most reasonable strategy for the portfolio by using flexible fund management to diversify the assets. Users may also benefit from the following trading features:
- Deep Liquidity
- Execution Speed
- Blockchain Connects
- Customizable Charting
Trading Fees (Spot and Margin Trading)
Blockchain.com has reasonable fees and a transparent maker-taker pricing model that begins with an introductory tier. In the financial markets, orders that provide liquidity are known as "maker" orders, and ones that drain liquidity are known as "taker" orders. The fee of the exchange rewards makers with a lower rate in the supply of liquidity essential to sustain an orderly and competitive market.
Put another way, more trade is equal to cheaper trading costs. According to the table below, there are twelve fees for spot trading, each with a different charge structure dependent on how much money has been exchanged in the previous 30 days.
Prime and Affiliate Program
Institutions, businesses, and veteran traders are eligible to participate in Blockchain.com's Prime. A slew of benefits are available to this demographic, including but not limited to Daily Clearing, Credit Lending, Low-Latency, Competitive Trading Fees, Binary Matching, and White Head Assistance. On the other hand, the affiliate program allows earning a commission of up to 50% (six months) on every referral trader who performs transactions on Blockchain.com Exchange. Straight bank payouts, unlimited earning, and real-time data have made affiliate the program a hit.
Market Explorer
Beyond researching the leading blockchains, this market explorer allows users to appraise the market, confirm transactions, and better understand cryptocurrencies via its many features. Furthermore, users profit from live pricing and charts with vital market signals.
As a benefit, the explorer offers users statistics ranging from hashrate to mining information and beyond, helping them develop critical trading strategies and join the crypto market confidently. A Data API Blockchain is also provided to users, so whether you are a crypto enthusiast or just a data analyst, the advanced interface will be helpful to you.
Institutional Markets
Since its inception in 2017, Institutional Markets has positioned itself as the world's best capital partner to its leading trading, investment, and mining organizations in the crypto market. Blockchain.com can provide affordable costs and personalized solutions because of its solid financial position and extensive industry knowledge.
The following summarizes the advantages that Institutional Markets have to offer:
- Originated Loans: approximately $4.8 billion.
- Trading Volume: Institutional trading volume exceeded $5 billion.
- Funding from Equity Capital: roughly $537 million.
- Spot and Options Trading: contract quotes for digital assets by internally pooling liquidity.
Non-Fungible Tokens (NFTs)
Currently in the BETA phase, NFTs are on their way to Blockchain.com. Soon it will be possible to browse through NFTs from OpenSea, purchase and sell them, and safely store them using Blockchain.com NFT without leaving the Blockchain.com Wallet. In its present state as a beta version, NFT is only accessible via a web browser, with support for other devices on the way. User access is granted on a first-come, first-served basis to those who sign up.
You may join up for the beta waitlist by visiting clicking here.
Blockchain.com – Breakdown
Is Blockchain.com Safe and Secured?
When it comes to safeguarding cryptocurrency, hard and cold wallets are regarded as the most secure options. Physical wallets may be kept on things like paper and then placed in a safe or hidden in plain sight. However, cold wallets are kept on hard drives or flash drives, but they are not linked to the internet and are thus not vulnerable to a hacker attack.
Since Blockchain's wallet is an e-wallet, every crypto is held online on Blockchain.com's servers rather than in the user's wallet. Now, this does not always imply that it is at risk. In reality, Blockchain goes to considerable plans to ensure that the wallets of its users are kept safe and secure. This is accomplished via the use of three unique levels of protection.
The first tier of security consists of an email verification procedure, which requires users to insert a code from an automated email to log into their account. The second tier of security includes all of the measures listed above and two-factor authentication via a corresponding phone number. Last but not least, the option to restrict Tor queries to the user's wallet provides an additional degree of security.
Why is it the Most Trusted Crypto Wallet and Exchange?
It is no surprise why Blockchain.com, one of the first platforms to launch in the crypto market, is the most trusted among crypto-enthusiasts. Crypto traders are constantly looking for the best platform within a secure environment and at the lowest costs, which is where Blockchain.com takes the lead.
Additionally, BTC is the most valuable digital asset in the cryptocurrency market, and Blockchain.com has seen a third of all Bitcoin (BTC) network transactions go through its platform, processing more than $1 trillion in transactions since its inception. Below you will find some more reasons to trust Blockchain.com, as mentioned on their website.
Final Thoughts on Blockchain.com
The bottom line is that Blockchain.com is a cryptocurrency platform with a "clean" track record in the market that traders of all skill levels can feel secure about using, regardless of their degree of expertise or competence in the cryptocurrency market at the time of use.
Since 2014, the company's current market value of more than $5 billion has expanded by more than $500 million in equity contributions, owing to the platform's support from a group of reputable investors from Silicon Valley, Wall Street, and London. The exchange is considered a pioneer in the cryptocurrency business for always incorporating the latest and most cutting-edge technologies for the benefit of its consumers.
Also considered are the user interface (UX) and standards, which results in an easy platform to use, as seen by the seamless exchange account to wallet function. Finally, the organization is transparent, available in more than 200 countries across the globe, and offers 24-hour customer care, which any cryptocurrency user would find quite beneficial.
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