One of the best places to buy and store your bitcoin today is in the blockchain info wallet. The company prides itself as one of the pioneer players in the crypto space. In this blockchain info review, you will get to know how to get started and make a successful purchase on the blockchain info website. Also, you will find answers in regards to the blockchain info scam worry, is blockchain info legit, and how customer support is provided.
Blockchain info was launched in August 2011 primarily as a bitcoin wallet. The firm has its headquarters in Luxembourg. In 2013, blockchain.info was the world’s most accessed website. A year later, the platform hit the one million registered users mark. Today, the firm has over 16 million users spread across 140 countries. The platform allows you to send and receive blockchain info bitcoin core, blockchain info bitcoin cash and blockchain info ethereum.
The platform works in partnership with other cryptocurrency exchanges around the world to allow you to trade with funds from your blockchain info wallet. To help you find a good deal, the blockchain info explorer page on the website contains information on bitcoin. The data includes the prevailing bitcoin exchange price, number of transactions, and volume of latest deals.
Getting started on the platform requires you to have a valid email address and a password. The process is simple and straightforward. The blockchain info website is user-friendly and responds to commands very fast. The exchange is the most recommendable if you are a beginner crypto investor.
To store your bitcoin, you need to add funds to your wallet. Blockchain info does not allow transactions in fiat money, so you will have to buy bitcoin from another exchange. To transfer the coins, you just need to request by clicking the receive option on the menu tab. The system will provide you with an input address to complete the transaction. You may choose to store your funds in bitcoin or convert to ethereum. All completed transaction receipts can be viewed near the blockchain explorer feature.
Blockchain Info Wallet
The blockchain platform is basically a hot wallet. Hot wallet addresses are case sensitive. Always double check your send or receive address before confirming a transaction. A perfect idea would be to bookmark your address, then copy and paste it when you need to use. To enhance your funds’ security in the event of lost data or passwords, also back up your recovery key.
The company provides a step-by-step security center feature that improves your funds’ security. It’s basically an SMS and a two-stage verification process. However, hot wallets are highly prone to unauthorized access, hacks, and raids. It is recommended that you only transact, but do not store large crypto sums in your online wallet. Instead, purchase a hard wallet and transfer your funds.
Blockchain Info App
If you have a smartphone that runs on Android or iOS, you can readily download the blockchain info app. To log in the app, you need to scan the QR code on the blockchain.info browser and enter your password. Just like the browser, the app has great functionality features. Placing trades, viewing price charts, and monitoring your positions is quite easy on the blockchain info app.
Blockchain Info Supported Coins
The blockchain info platform was established as a wallet to store your cryptocurrency. While millions of registered users praise blockchain info services, the wallet only supports bitcoin and ethereum. Even worse, you have to buy the coins from the limited partner exchanges rather than blockchain info itself. The company claims to be in talks to partner with other exchanges to provide users many options.
Blockchain Info Fees
Just like any other crypto platform, you have to encounter blockchain info fees. The platform transactions are charged using a dynamic fee structure. That means the blockchain info fees are dependent on the size of your transaction. According to Quick Bit, bitcoin transaction fees average around 0.04 cents US dollar or 0.0001BTC per transaction.
Before you confirm any transaction, you need to calculate your appropriate fee using the feature provided by the wallet. The amount you intend to reach the receiver should be in excess of the blockchain info fees. Should it be less, the transaction will not be completed.
Blockchain Info Scam – Is It Legit?
Blockchain info, as a cryptocurrency pioneer participant has gained experience in this space. The expertise and trust by the millions of registered users is a plus for this company. However, seasoned crypto traders do not like storing funds in blockchain info wallet. They are fully aware of the risks associated with online hot wallets. In fact, some customers have reported that their account’s information was hacked and their funds stole. It is not known whether these raids are attributed to customer negligence or a weak system. Customer support on blockchain info is slow, and complaints are often ignored.
On the bright side, the wallet is one of the best out there, especially for beginners. Its user-friendly interface, great functionality features and fast command prompts make it very appealing.
This blockchain info review provides relevant information to questions such as the blockchain scam worry and is blockchain info legit. The info should adequately help you choose an excellent online hot wallet to store your bitcoin or ethereum.