Blockchain.com is a significant crypto exchange that provides customers with an accessible, safe, and dependable channel to maintain and trade their virtual currencies. In addition, the platform introduces some of the most prominent functionalities like crypto loans, “smart” crypto-asset maintenance, and crypto trading to its users.
In addition to the primary service provided by the firm, this crypto exchange also allows customers to purchase, resell, and trade cryptos via its trading services. Furthermore, Blockchain.com also makes a difference with its maximum security precautions, thanks to its storage funds.
However, amidst all the commendable features, it also limits its users with limited trading pairs.
If you’ve been deciding on signing up for the platform, this Blockchain.com review intends to provide a complete review of the platform to stay up with recent developments. So, let’s get started.
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Pros And Cons of Blockchain.com
Binance At A Blockchain.com
| Website Homepage | https://www.blockchain.com/ |
| Wallet Availability | Yes |
| Hardware wallet availability | Yes |
| Type of wallet | Private key wallet |
| Top currencies available | BTC, ETH, XRP, XLM |
| Number of coins | 80 |
| Number of coin pairings | 40+ |
| Native token availability | No |
| Exchange availability | Yes |
| Supported nations | Worldwide |
| Number of languages | 25+ |
| Fees | Varied |
| Customer Service | Live chat and support center |
| Mobile app | Yes |
| Cloud storage | Yes |
| Cold storage | No |
| Social trading | No |
| Copy-trading Feature | No |
Blockchain.com: Company Overview
Headquartered in Luxembourg, Europe, Blockchain.com has been operating since 2011. Currently home to over 100 personnel from 22 nations, the platform presently holds expertise in the technology and banking industries.
Fast-forward to 2022, Blockchain today provides a broad array of services and a custodial wallet to cover your transactions. The trading platform has now received widespread acceptance in the crypto community, primarily due to its tricky offline wallets – Lockbox, Institutional Platform, and an API System are among their various offerings.
In addition, the crypto exchange claims over 71 million active wallets and $620 billion in sales, spanning 200 nations.
Cryptocurrencies Supported In Blockchain.com:
Blockchain.com welcomes numerous crypto projects, including the likes of more prominent projects like BTC and new projects like Cardona and Aave. Here’s a detailed overview of the different tokens supported over the platform.
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| Wrapped Bitcoin (wBTC) | USD Coin (USDC) | Wrapped-DGLD (WDGLD) |
| Ether (ETH) | Bitcoin (BTC) | Bitcoin Cash (BCH) |
| Aave (AAVE) | Yearn Finance (YFI) | Litecoin (LTC) |
| Pax Dollar (USDP) | Stellar Lumens (XLM) | Tether USD (USDT) |
| Celo Euro (cEUR) | Algorand (ALGO) | Solana (SOL) |
| Dogecoin (DOGE) | Polkadot (DOT) | DeSo (DESO) |
Besides, the platform also has the option to include potential upcoming projects at the time of their release.
Key Features of Blockchain.com
Interest Accounts
Users signing up with Blockchain.com have the option to receive interests off their saved funds on the platform. However, to access the same, they must select the company’s interest accounts to lock in their balances on their other investment holdings.
Accessible to various crypto tokens like Bitcoin, Ethereum, Litecoin, and others, the interest range primarily depends on the crypto tokens. For instance, users may now invest in Bitcoin through an exciting account on Blockchain.com. You will receive up to 4.5% after you put Bitcoin into your interest accounts. This is an excellent method of earning interest in your cryptocurrencies.
Blockchain Swap
One of the most notable products on Blockchain.com is its ‘swap’ feature that allows users to trade Bitcoin and other cryptocurrencies among other tokens. This way, it provides users with a convenient option to diversify their folios without purchasing the underlying asset.
You can get started on Swap by purchasing your favorite cryptocurrency and swapping it for Ethereum on the Swap platform. For example, a user with Bitcoin today can use the swap feature to convert their Bitcoin to Ethereum, Litecoin, or any other cryptocurrency they choose.
This way, users can swiftly and conveniently trade one cryptocurrency for another while maintaining authority over their private keys. Everything with no one ever leaving your Blockchain.com wallet.
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Airdrops on Blockchain.com
Blockchain.com is an excellent destination for investors who like scouting for potentially new drops! Airdrops are a unique feature of the Blockchain.com platform that allows users to receive tokens and cryptocurrencies, attracting numerous users to the platform and likely impacting the platform’s growth and prospects positively.
An option limited to Gold-level verified customers, the Blockchain.com AirDrop Initiative also allows users to partake in giveaways. Instances of such drops were noticed when the Stellar AirDrop marked its initial step, placing XLM into the pockets of hundreds of thousands of new customers and tripling the Stellar network. The company also recently teamed with Blockstack for their second AirDrop, giving out Stacks coins (STX) to its customers.
Exchange on Blockchain.com
Blockchain.com offers a straightforward and user-friendly crypto exchange for beginners, offering individual traders fast trading and the capacity to trade 34+ coins. Now known as “The Pit,” the platform allows users to trade digital assets via a convenient dashboard with several advanced and skilled trader-oriented functionalities.
Thanks to the straightforward, user-friendly layout, you can start as a beginner and use the exchange to examine prices, verify the progress of any transactions, transfer cash and withdrawals, and invest in crypto assets. In addition, the platform allows anyone to gain cryptocurrency with Fiat across 200 nations, based on the authentication tier.
The site also offers spot and leverage trading. Users can buy and sell over 90 unique crypto pairings, and you may leverage up to 5x with leverage trading options. Blockchain.com allows fiat money such as EUR, GBP, and USD using Public Bank, wire transfers, and credit and debit cards. Transactions over the platform are generally fast, and Blockchain.com lets you preserve money over every trade.
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Borrow on Blockchain.com
Blockchain.com’s “Borrow” feature allows Gold tier customers to loan USD Digital via Blockchain while using bitcoin held in their Wallet as security. The repayment interest rate is displayed in the credit setup application and is prone to changes. Currently, they only accept Bitcoin (BTC) that your Blockchain wallet can accept. However, they want to expand this to other coins in the long term. When you receive the loan, the deal will be executed instantly.
Many creditors will get applicants’ credit score records or other credit history reports. This could also, therefore, have adverse effects on credit score. In addition, Blockchain Borrow doesn’t demand the score; thus, getting a loan from them will not affect your credit score.
Other Features of Blockchain.com:
- Hot Cryptocurrency Wallet: A glance reveals that Blockchain.com strongly emphasizes its wallet capabilities. The company boldly declares that its wallet is non-custodial.
“Non-custodial” in crypto wallets implies that Blockchain.com does not have access to confidential private keys. Private keys typically get us accessibility to the wallet. As the name implies, they are just the keys to our cryptocurrency. Holding the private keys will let users quickly restore their wallets when the wallet is lost, lose their passwords, or have other similar problems.
Blockchain.com claims to be non-custodial. While they guarantee strong wallet protection, they cannot inspect your holdings, seize your wallet, or see anything else. Non-custodial wallets are largely accepted in the crypto industry as the best option. However, finding a reputable wallet solution of this type might still be complicated.
- Lockbox Hardware Wallet: Blockchain.com has released its latest hardware wallet, Lockbox, recently! By putting your secret key in a hardware wallet, we can secure our cryptocurrency offline, taking it one step farther away from hackers. As a result, by combining their Lockbox with their digital wallet, users have the perfect blend.
- Security Features: If you’re wondering whether Blockchain.com is trustworthy, a quick look at the company’s web page will disclose a list of several security perks that you may be enjoying. These characteristics are quite helpful in discouraging possible hackers and fraudsters.
Blockchain.com keeps 95% of its assets in cold memory units dispersed throughout the globe. The remaining 5% of financing is utilized for active trading, withdrawal of user funds, and availability on the firm’s exchange, which is a conventional procedure.
This functionality alone provides the finest fund security. Assuming Blockchain.com were to be attacked, or there was a technical problem with its encryption, the fact that the assets are housed in cold memory units implies that the harm ought to be minor.
- USD Digital Stable Coin: USD PAX has recently been renamed USD Digital by Blockchain. USD-D is crypto tied 1:1 to the USD, so one digital coin will always be worth 1 USD in the wallet. With USD-D, anyone can keep a consistent digital dollar in the Blockchain.com Wallet. Because USD Digital is an ERC20 token, all operations with it will incur a modest charge in ETH.
These virtual dollars are backed by Paxos Standard, among the most actively traded stable currencies and one of the first approved by the New York State Department of Financial Services.
- Low Trading Fee: Trading costs are another important factor that individuals consider when selecting the best trading system. Exorbitant fees can significantly reduce your prospective profits and make each transaction riskier.
Regarding the costs imposed by Blockchain.com exchange, things are really looking up. Most Blockchain.com consumers feel the firm has some of the lowest costs on the market. To be more explicit, Blockchain.com has a common practice, which is a dual fee model, with one fee applied to makers and the other for takers.
- KYC Compliance: Because crypto exchange services are financial organizations, KYC regulations apply to them. Therefore, the most trustworthy cryptocurrency platforms will impose KYC checks on their customers.
Because crypto exchange services are financial organizations, KYC regulations apply to them. The most trustworthy cryptocurrency platforms will impose KYC checks on their customers. This includes ID verification, confirmation of residency, and, sometimes, financial documents or income declarations.
KYC assists organizations in ensuring that there is minimal to no foul activity on their systems. Potential fraudsters and harmful parties will frequently ignore KYC since they are typically tougher on the legalities. This is a beneficial move.
Blockchain.com needs its customers to complete KYC verification procedures. Although users can sign up and use the basic functionality of the Blockchain.com wallets without passing KYC, pass the above procedures when you desire to move on to crypto the network.
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Trading Experience
The trading interface on Blockchain.com is typical. By selecting the “+” symbol in the top left corner of the page, you may access its restricted list of pairs. In the center of the page, the graph shows price activity and trade volume.
Towards the right, the order book is a live trading stream. On the far right are buy and sell buttons for placing orders. We may place trade orders using the dashboard depending on the market pricing. It provides limits with a pre-defined purchase or sell amount. It also provides stop-limit trades, which cause a sell to occur to prevent losses.
However, there are several prerequisites for opening a Blockchain interest account. You must first be Gold Level certified. To do so, go to the earn interest page and click on the option to upgrade. You may also use the pull-down option for the main wallet options. After this, you must be set to invest and earn interest from your crypto investments.
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Fees Structure
Blockchain.com charges a reasonable fee compared to other exchange platforms in the industry. However, since the platform induces a maker-taker fee, the structure is primarily considered flexible, with the option of reducing prices over increasing trade quantities.
The platform has introduced twelve different price categories, depending on the one-month trading activity in US dollars. According to the Blockchain.com pricing chart, the trading volume varies between $0.00 to $1 billion, according to the Blockchain.com pricing chart.
Here’s a detailed overview of the different fees:
| 30 days volume (In USD) | Taker Fee | Maker Fee |
| From 0 up to 9,999.99 | 0.40% | 0.20% |
| From 10,000 up to 49,999.99 | 0.22% | 0.12% |
| From 50,000 up to 99,999.99 | 0.20% | 0.10% |
| From 100,000 up to 499,999.99 | 0.18% | 0.08% |
| From 500,000 up to 999,999.99 | 0.18% | 0.07% |
| From 1,000,000 up to 2,499,999.99 | 0.18% | 0.06% |
| From 2,500,000 up to 4,999,999.99 | 0.18% | 0.05% |
| From 5,000,000 up to 24,999,999.99 | 0.16% | 0.04% |
| From 25,000,000 up to 99,999,999.99 | 0.14% | 0.03% |
| $100,000,000.00 – $499,999,999.99 | 0.11% | 0.02% |
| $500,000,000.00 – $999,999,999.99 | 0.08% | 0.01% |
| $1,000,000,000.00+ | 0.06% | 0.00% |
The smaller the share they pay each trade, the larger the volume of trading value that recurs over a month aggregate for any category. For reserve currencies, the Blockchain.com marketplace does not levy a fee. Instead, it charges the additional fees for withdrawals:
| Currency | Fee |
| EUR | 0.50 EUR (5 EUR Minimum Withdrawal) |
| USD | $25 ($2,500 Minimum Withdrawal) |
| GBP | 0.50 GBP (5 GBP Minimum Withdrawal) |
| TRY | 20 TRY (5 TRY Minimum Withdrawal) |
How Secure Is Blockchain.com?
The exchange incorporates high-level security features, including offline cold storage for assets and private key management functionality. Blockchain.com seems to have no poor industry image and has never been the victim of any security compromise.
Blockchain.com also offers two-factor verification and an additional 4-digit passcode or biometric to access the system. Besides, users can also access the platform’s two-factor verification and an additional 4-digit passcode or biometric to access the system.
Investments are spread globally in top security institutions devoted to properly securing high-value commodities. Offline cold wallets hold 95% of all the money.
In addition, it should be noted that Blockchain.com does not monitor assets housed in non-custodial wallets. They also monitor only assets held in custodial exchange accounts.
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Opening A Blockchain.com Account
Creating a trading account or enrolling at blockchain.com is a straightforward process that may be done quickly:
Step 1: Customers must fill out the registration application form and sign up for a new account before they can begin trading.
Step 2: Users must specify their place of residence.
Step 3: Next, they must enter their email address and establish a passcode.
Step 4: However, traders who wish to purchase or sell using the site must first open a ‘gold account.’
Step 5: To establish a gold-level account, individuals must respond with their id evidence and other private details.
Step 6: Customers will get an email confirming that their profile is eligible to trade after confirming the data.
Step 7: Traders may then use their credentials to purchase and sell their preferred cryptocurrency.
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Customer Satisfaction
Talking of blockchain.com’s rating in terms of customer satisfaction, Blockchain.com comes to an average of 2.3 stars out of 5 over 2,000+ Trustpilot reviews.
The platform has an abundance of allegations of lack of proper customer service professionals and their inability to solve their issues. For example, some users could not withdraw funds because blockchain.com withheld their access.
But then again, a few users have recommended using blockchain.com as they could make excellent investments with the platform and connect to customer care effortlessly.
Upwards of 320 grievances were filed at Blockchain.com during the first half of 2021. Top problems include missing cryptocurrency, bad customer help, and restricted account access. Unfortunately, the source of these reports is unknown.
In a nutshell, the platform has issues concerning customer support and the limited list of offerings over the platform. However, the platform has been working actively to address such queries over the past few years.
Blockchain.com Vs. Competition:
Blockchain.com provides its users with a variety of accessible services to its users, making it one of the most prominent offerings in its niche. Over the years, the platform has stood out with its stringent security measures, reliable customer activities, and a global-level trading experience for its users.
However, similar to the reliable features, Blockchain.com also has some drawbacks in the face of complaints, primarily regarding customer satisfaction. Therefore, if Crypto.com doesn’t seem like a legit option to you, let’s compare it to the likes of its competitors like Binance and Robinhood.
Blockchain.com Vs. Robinhood:
Robinhood is among the few cryptocurrency exchanges that encourage fee-free trades. It also allows you to trade fractional quantities of cryptos and other investment alternatives, a terrific, low-risk method for newbies to get started.
In addition, it features an efficient app that enables full-featured trading even on the road. On the contrary, Blockchain.com also brings in some equally relevant features with less fess, secured transactions, and staking for your investments.
Blockchain.com Vs. Binance:
Binance is one of the world’s major cryptocurrency platforms. Its clients have exposure to over 280 denominations worldwide. Binance. US users in the US have access to over 50 currencies, which is equivalent to Blockchain.com.
Considering this short but insightful review, we can say that both Robinhood and Binance provide their users with international exposure and a free trade option. Whereas, Blockchain.com takes the lead with Binance takes the lead with its exhaustive token selection, lower fees, and reward programs in terms of competition. Read the full Blockchain.com review.
Final Verdict
Should You Consider Using Blokchain.com?
- There are two wallet alternatives: There are two wallet alternatives on Blockchain.com. You can manage and keep your storage wallet a secret. The other wallet supports the trade, which Blockchain.com handles for you. The trading wallet accepts funds in the four fiat currencies by bank and credit cards.
- Chances to qualify for free coins or tokens via the AirDrop Program: With its AirDrop Program, Blockchain.com provides users with free Bitcoin. An AirDrop is a free distribution of a coin or currency to a select group of users.
- Interest-earning account on Blockchain.com: The Interest Account on Blockchain.com is a storage option that pays interest. Eligible customers get some interest for the money they have saved. Every month, the interest is delivered on the first of the month. Investors can deposit e-currencies and earn interest on their Blockchain.com primary account or trading e-wallet.
- Explorer tools: The Explorer area of Blockchain.com has become the network’s most interesting feature. Users may observe actual transactions as they are committed to the Blockchain systems in real-time. It also ranks the leading 621 cryptocurrencies by market valuation, computed by multiplying the price level by the overall number of tokens in circulation.
The charts section is the most intriguing part of the Explorer area. The portal, similar to the prominent analysis company Glassnode, displays a variety of relevant metrics in easy-to-read graphs.
5. Account transfer is permitted if the initial account holder dies: Blockchain.com’s terms include a simplified method for transferring the profile of a dead holder to another user. Beneficiaries cannot presently be named on Blockchain.com.
It accepts certified death documents, such as a death certification or a postmortem file, as prompts for a financial transfer. When the funds are allowed, they are transferred to the new account of a living friend or relative. This feature distinguishes Blockchain.com’s Terms of Service from those of other cryptocurrency exchanges.
Shortcomings Of Blockchain.com
- There are just a few trading pairings: It’s not the ideal option for those searching for an extensive selection of cryptocurrencies. Blockchain.com aims to make the few coins/tokens it supports work in its favor. Many trading pairs are available for users to compare and purchase on the leading exchanges. More trading alternatives and reduced marketing rhetoric would help customers.
- Insufficient technical assistance: Email is the sole means to reach Blockchain.com for technical support. They are not reachable via telephone, text, or any other chat. Many of the one-star reviews complained about poor customer support on the smartphone version. Many complained about getting copy-pasted replies that referred to an already present FAQ. A website with millions of visitors from almost 200 countries must perform better. At the absolute least, it should offer 24/7 technical help via interactive chats.
To summarize this Blockchain.com review, the platform offers many amazing tools and functionalities. However, its reviews are divided. Customers have complained about customer service, not responding to many inquiries. Some traders have expressed safety issues and difficulties in conducting wallet withdrawals. Despite this, the exchange remains attractive to virtual currency dealers. They have effectively expanded their user base throughout the previous decade of operation.
It is also entirely uncontrolled! Any international financial regulatory bodies do not oversee the corporation. This provides another layer of danger in cryptocurrency transactions on this site. However, some traders enjoy cryptocurrency trading services’ uncontrolled, unsupervised character.
FAQs
Q1. Is The Liquid.com App Safe?
Yes, Liquid.com is a highly reliable crypto exchange! The platform stands out with its record of never being hacked. In addition, the accounts of users signed up with the platform are protected via two-factor authentication.
However, when trading as a new user, you need to be aware of the leverage as it might end up liquidating your entire funds.
Q2. Is The Liquid.com Exchange Legit?
Yes, the Liquid.com exchange is legit and is backed by the JFSA (Japan Financial Services Agency). In addition, in all these years of its existence, the platform has never faced any legal queries, making it an unquestionably legit source.
Q3. Is It Possible To Withdraw Money From Liquid?
Yes, once the user has been through the sign-up process and verified, they can easily withdraw both fiat and crypto tokens. However, it should be noted that users will be charged a sum of $15 and a 0.10% fee to withdraw the fiat currency.