Review of Blockchain.com
Blockchain.com is available to clients all around the world and currently functions both as a cryptocurrency wallet and a transaction platform where you can trade over 30 different cryptocurrencies and tokens.
Pros & Cons
What can I do with Blockchain.com?
The primary service provided by Blockchain.com is its blockchain wallet, which was specifically created for those who want to secure their crypto funds. It also provides a full crypto exchange with fast transaction speeds, counted in microseconds and a quick account approval process.
It’s Blockchain Explorer feature refers to a process where you can view certain parts of different crypto coin’s blockchain and analyze or observe data related to transactions, wallet addresses, and more. This is useful for those into market momentum and similar trading strategies and it is nothing if not original, as we have not seen a similar feature introduced anywhere else.
Blockchain.com cryptocurrencies and trading options
What cryptocurrencies can you trade on Blockchain.com?
Major cryptos traded on Blockchain
Blockchain core currency pairs
All Blockchain.com trading options
Blockchain provides a total of 38 pairs and over 30 crypto coins and tokens for trading with more said to be added soon.
Can I trade with leverage on Blockchain.com?
No, Blockchain.com does not currently offer leveraged trading to its clients.
This may actually be beneficial, as trading with leverage is risky and should only be conducted by traders with at least some experience.
What are the spreads?
Blockchain makes money from widening the spread between cryptocurrencies and fiat currencies. The broker doesn’t currently charge fees on currency exchanges, but it does income on the spread between different currencies, which goes to cover some of their platform costs.
The spread is fixed at 1%, which is slightly more than other similar brokers currently charge.
Fees, limits, and payment options on Blockchain.com
What are the deposit and withdrawal fees, limits, and speeds?
Blockchain.com allows users to deposit or withdraw funds via various sources, including credit cards, cryptocurrencies, wire transfers, and even cash. However, some of the fees it charges are rather high, as opposed to other similar exchanges.
Currently, Blockchain.com doesn’t allow users the option to deposit or withdraw directly to debit cards. Blockchain.com makes use of its Wire Program, Coinify, and Simplex to help facilitate transfers. The Wire Program sets limits for bank wire transfers of $500-$40,000 per day with no Blockchain fee.
|Visa/ MasterCard Credit|
None/$40,000 per day
$10 flat fee or 4%
|Wire transfer (the US only)|
None/$40,000 per day
1-2 business days
$5/$30,000 per day
3-5 business days
|AMEX Card (the US only)|
None/$200 per day
|EU wire bank (SEPA)|
None/$40,000 per day
2-3 business days
$5/$40,000 per day
3-5 business days
|Crypto (BTC, etc.)|
Instant but may vary
How much are Blockchain.com’s fees and commissions?
It’s important to mention that Blockchain offers zero trading fees for any exchanges between natively supported cryptocurrencies and fiat currency.
Maker and Taker fees depend on 30 day trading volume and start at 0.20% and 0.40%, respectively for volume between $1-$10,000.
|Fee type||Fee amount||Commission|
Blockchain.com trade sizes and limits
All cryptocurrencies except Bitcoin and Litecoin have a maximum trading volume of 5 BTC per trade, per day. But there are no limitations to how much Bitcoin, Bitcoin Cash, and Litecoin you can trade.
Peer-to-peer transfers similarly also have no limits either.
|Product||Minimum trade||Maximum trade|
Blockchain.com trading platform
What devices can I use Blockchain on?
The Blockchain.com trading platform is currently available only as a mobile app and it is downloadable on both Android and iOS smartphones and tablets.
- iOS Mobile Devices
- Android Mobile Devices
Can I use Blockchain.com in my country?
While Blockchain is available in almost any country and territory in the world, including Afghanistan, Australia, Sudan, United Kingdom, and even Yemen.
Crypto payments are supported in any country, but fiat currencies are only allowed in countries from the European Union and a few other territories. Select your country from the list below to see if it is available where you are.
Is Blockchain.com available in my language?
Currently, the Blockchain.com app is available in 8 languages: English, Spanish, German, French, Italian, Portuguese, Turkish, and Russian.
How easy is it to use Blockchain.com?
Blockchain.com is an all-in-one exchange and wallet app with a very simple and user-friendly interface. The app is designed to exceed the requirements of beginner traders and meet the standards of more professional traders alike.
It can be used to make money transfers or to transfer funds from one Blockchain.com account to another without any fees, while the lineup of over 30 cryptos currently available make it suitable for most traders.
Unfortunately, it lacks the interface of a real trading platform and doesn’t provide a desktop or browser-based version either, so the only way to access it is through the mobile app, which is limiting to say the least for more serious traders.
Blockchain.com originally started as a sending money app. It has since transformed into an all-in-one exchange and payment app with plenty of features:
Blockchain.com offers its full-stack crypto platform to institutions, providing them with bank scale custody for crypto coins, trading execution for the same, lending of coins and tokens, and other bespoke solutions on request.
Blockchain.com offers a full Websocket API, which provides functionality such as receiving real time market data, requesting balance information, and performing custom trades.
In addition to its standard features, Blockchain.com offers an Industry leading low-latency platform deployed in LD4 with colocation for approved market makers, a fast binary matching trade engine, and daily settlement and clearing via a network of banks in the U.S. and Europe.
Security and regulation
Is Blockchain.com safe?
Blockchain.com makes use of standard security protocols to help secure wallets, such as mobile number verification, PIN’s, and even seed recovery phrases are used during the setup process to make the app as secure as possible.
Am I and my cryptocurrency protected?
Blockchain.com uses encryption to secure clients’ information and doesn’t disclose sensitive data such as bank account numbers to the recipient when making a transfer.
Blockchain.com is also a non-custodial wallet, meaning it doesn’t have access to its clients’ funds or recovery phrases. This helps clients maintain 100% user control over their funds and also means that the U.S. money transfer regulations don’t apply, since Blockchain.com never takes custody of its clients’ assets.
Is Blockchain.com regulated?
No, currently Blockchain.com is not regulated in any country. Facing “regulatory uncertainty and restrictions” in the United States, Blockchain.com has been forced to make changes to make some of its services provided to U.S. customers.
Do I have to verify my account with Blockchain?
Yes, Blockchain runs a Know Your Customer (KYC) policy and requires verified information in order to allow trades. Since it doesn’t offer a free demo account, all trades must be registered and run through a verification process.
Blockchain.com makes plenty of educational resources available for free. On the broker’s homepage you can find a series of guides, intros to crypto trading, podcasts, courses, and even several ebooks available under the Resources category. There is also a FAQ section to answer most clients’ frequent questions and a company blog where you can read the latest news regarding the platform.
Tools and charting
Blockchain.com features limited tools and charting as it is primarily designed to work as a mobile app and not an integrated trading platform for standard users.
Advanced features such as, ultra-low trading fees and daily clearing are reserved for professional and institutional clients. But this might change in the future depending on blockchain regulation.
Blockchain.com ranks poorly in the customer support department as there is no way to get in contact with support staff outside of submitting a request form. You are given a ticket number, but some clients have mentioned online that they spent months trying to get their questions answered from the customer support team.
Blockchain.com is a cryptocurrency built for both beginner and professional traders. It’s mobile trading app (no desktop or browser based trading with a standard account) boasts a simple and plain interface that is easy to navigate and user-friendly.
It isn’t the cheapest broker as the maker/taker and deposit/withdrawal fees are slightly higher than at other crypto brokers we have reviewed and the crypto coin/token lineup could also be much larger, as only 30 some coins and 38 pairs are available for trading.
Although it lacks the depth and features of a classic trading platform, Blockchain.com still offers some standout features, like an Explorer function which gives you a top-down view of many coin’s transactions, volume, and other stats, as well as an API, through which custom applications can be created using the platform’s data. If you only care to trade a few of the very top crypto coins, Blockchain.com offers what you need, if you are in search of more, you may leave disappointed.
How to buy and sell cryptocurrency on Blockchain.com
How to buy crypto on Blockchain.com
- Sign In to your account
- Go to the “Buy Bitcoin” section on top of the main page
- Enter the amount or quantity of your preferred crypto and choose the payment method
- Select your method of payment (credit or debit card, Apple Pay, bank transfer)
- Click “Buy Now”
How to sell crypto on Blockchain.com
- Log into your Blockchain.com app
- Tap on “Exchange” at the bottom of the screen
- Select the cryptocurrency you wish to sell and the preferred choice where you would like to receive funds (to sell crypto for US dollar cash, select TUSD/True USD in the Blockchain app)
- You will now see the exchange rate. Select how much you would like to sell/exchange for TUSD
- Click “Review” and then tap “Confirm” when you are ready to complete your transaction
Blockchain.com was founded in 2011 by Bill Barhydt, a serial entrepreneur with over two decades of payment experience. The company is headquartered in Silicon Valley and also runs an operational office in Manila, Philippines. Barhydt remains the CEO of Blockchain.com
Blockchain makes money by charging fees and commissions for withdrawing/depositing funds into your account. It also charges a 1% spread fee on most trading operations as well as variable maker/taker commissions, starting at 0.20%.
Depending on the country of your residence, you might be asked to pay taxes on your Blockchain.com profits. Check your local regulations for more details.
There is no short process if you wish to delete your Blockchain.com account, but you should get in touch with customer support and an employee will guide you through the process.
You can short on Blockchain.com by selling any asset you hold that you believe will fall in value. If this drop in price materialises, you can buy back the asset at the new lower price, pocketing the profit.
If you’ve lost the Blockchain.com current PIN code you entered, you can reinstall your app and recover your wallet using the recovery phrase. This will help you set a new PIN. If you haven’t saved your recovery phrase, do not delete and reinstall your app.
No, Paypal is not currently a supported payment method.
Blockchain only works as a mobile app so you need to have a strong Internet connection before trading or exchanging your funds on it. If the app crashes, all you have to do is close it and open it again.
Should Blockchain.com cease operations altogether, it is not insured in any jurisdiction and does not guarantee client funds from loss.
Yes, open your Blockchain.com app to the main screen, and tap the icon in the upper left corner to go to the menu screen. Tap “Transaction History” and, if you like to also export it, tap the “Export transaction history” button. Confirm and tap OK.
Yes, Blockchain.com does offer the ability to pay in supported crypto coins.
You can earn up to 10% interest on USD stable coins or cryptos when trading with Blockchain.com. The broker also offers up to $25 for each new user you refer to them through the Blockchain.com Affiliate program.
Go into the main app, click BTC > Select and Receive > Receive > copy address. Use the address to send or receive crypto from Coinbase.
No, Blockchain.com doesn’t offer the opportunity of trading anonymously. You will have to register with a series of personal information, including a verified photo ID in order to be able to begin live trading.
No, Blockchain.com is a non-custodial wallet and does not have access to user funds or recovery phrases.
- Log in to the Blockchain.com app
- Tap “Transfer funds to Trading TUSD” to transfer USD.
- Enter the amount you wish to transfer
- Tap Done & Review & Confirm
It can take up to 7 days to complete the withdrawal process, but all interest accrued during the process will be included. The minimum amount you can withdraw is $5 or the equivalent of $5 into any fiat/cryptocurrency.
Blockchain.com works as a mobile app and doesn’t hold any information or funds on its company servers. This makes it unhackable but you still need to secure your phone and your Blockchain.com app to keep your funds protected.