Blockchain.com review 2023

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.

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 and it has been made clear by our reviews.

Blockchain.com cryptocurrencies and trading options

What cryptocurrencies can you trade on Blockchain.com?

Blockchain allows you to trade 38 different currency pairs and over 30 of the most popular cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and Ripple. 

Major cryptos traded on Blockchain

• BTC
• BCH
• BTS
• REP
• BAT
• BSV
• ZRX
• AEON
• ARDR
• ARK
• XRP
• XTZ
• AAVE
• ALGO
• TRY
• DGLD
• ENJ
• OGN
• PAX
• USDT

Blockchain core currency pairs

• BTC/USDT
• ETH/USDT
• LINK/USDT
• XRP/USDT
• AAVE/USDT
• ALGO/BTC
• BCH/BTC
• BTC/TRY
• DGLD/BTC
• ENJ/USDT
• ETH/TRY
• LTC/ETH
• WDGLD/BTC
• XLM/ETH
• YFI/BTC

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.

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.

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.

Blockchain.com trading platform

What devices can I use Blockchain on?

The Blockchain.com trading platform is currently available only as a mobile crypto app and it is downloadable on both Android and iOS smartphones and tablets. 

• 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.

Key features

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:

Institutional Solutions

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. 

Exchange API

Blockchain.com offers a full Websocket API, which provides functionality such as receiving real-time market data, requesting balance information, and performing custom trades.

Pro Features

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.

Extra information

Educational resources 

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.

Customer support

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 by the customer support team. 

Our verdict

Blockchain.com is a cryptocurrency built for both beginner and professional traders. Its 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.