Ok Google What Is Blockchain Com For | Review
If you have not visited Blockchain com yet, drop by and take a look around. After you have formed your own opinion, let us know your thoughts.
While we appreciate the flattery of being compared to Google, however, the difference between CryptoDetail and Google is quite noticeable; we do not take payment to raise a website's ratings... Sorry, it had to be said.
Blockchain.com is a third-party wallet
Before we delve into those questions in more depth, we need to make a few disclaimers first. Remember Crypto Rule # 1?
That's right, say it with us boyz and girlz, "we never, ever, for any reason, leave our funds on any third party site any longer than necessary to make a transaction and withdraw to your private wallet." So, since Blockchain. com, among other things, is an online, third-party wallet system. Therefore, we never leave our funds on that platform for an extended and unnecessary period.
With that said, what cryptos can you have a wallet for on Blockchain.com? BTC, ETH, and BCH.
So, why should you use the wallets on Blockchain. com? If it is a third-party site that allows you to be vulnerable to attack potentially, thereby losing your money, why should you use it? The answer is far more straightforward than you might think and is two-fold.
Firstly, you have to learn how to use a wallet somewhere. For example, Blockchain.com (formerly Blockchain.info) is a well-established, easy-to-use wallet where many people first enter the cryptosphere.
Secondly, using a different wallet as a sort of a "mailbox" for all of your inbound payments adds another layer of security to your process if you receive payments into an easily accessible wallet and transfer that over into your wallet from there.
Thirdly, and most importantly, not only does your Blockchain.com wallet system allow you to send and receive payments in BTC, ETH, and BCH (three of the most popular cryptos); it also gives you the option of placing all of the funds from each of those wallets into its paper wallet. This, as we have said many times, is the ULTIMATE in secure wallets. So, the reality of using Blockchain. com's wallet system is that you will have a growing supply of paper wallets, each of which can be transferred back into the platform for spending as the need arises.
Disadvantages of Blockchain.com
Some of us here at CryptoDetail use one or more Blockchain.com wallets. As a self-contained wallet that takes and uses no resources on your computer and gives you the ultimate security of paper wallet creation directly from the platform, we applaud this site above many other such places. The two downsides we at CryptoDetail have experienced using Blockchain.com. The site occasionally (usually talking about a few hours (usually when we are trying to send or receive cryptos) every 3-6 months) goes down. This snag can cost you purchase or a sale. So, that is one consideration.
The other downside is the lack of real-time user assistance available. It takes their team far too long to respond to any issues, in our experience and opinion.
However, overall, Blockchain.com is a unique wallet system that we utilize on an almost daily basis.
Advantages of Blockchain.com
Aside from offering a free multi-coin wallet system, Blockchain.com is also an excellent bitcoin blockchain explorer. Don't know what that is?
- As with most things crypto, it is what it says it is. Look at the upper right-hand corner of any screen on that site. Paste any bitcoin transaction number (tx #) or wallet public key into that spot and hit enter. Voila, you see the blockchain record of that occurrence and wallet. Information is vital to life and in the cryptosphere. And this is where Blockchain. Com excels.
- Another great thing about Blockchain.com is the sheer amount of information available. There is essential knowledge public on this site and up-to-the-minute updates with their charts.
If you are a dev, Blockchain.com offers a fantastic amount of documentation, a reasonably impressive API, and a collection of useful widgets.
- One other thing about this wallet that we here at CryptoDetail appreciate. We have talked many times about our preference for simple exchanges. Those that do not require us to jump through hoops. Well, in your Blockchain. com wallet, you will have instant access to ShapeShift, one of our favorite simple exchanges, so you have a few hundred thousand Satoshis in your Blockchain. com BTC wallet, and you want to exchange that for ETH; it's as easy as the click of a button (***IF you use ShapeShift copy /paste the receive wallet address into the SS popup. Then, double and triple-check the accuracy of that before you send your transaction. Remember, once you send crypto, it's gone. So, if you are trying to send a payment or even exchanging one crypto for another to come back into your wallet, ACCURACY is essential).
One of the most popular wallet
As humans, we are programmed to migrate to items with brand recognition. And, any search engine will take you to Blockchain. com whether you are looking for it or even if you are asking for general blockchain information. While this site initially drew us to it through a similar search a few years ago, it is the dependability (aside from those rare outages mentioned above) and ease of use that has kept us using this site for its wallets, information, and development resources.
Overall, Blockchain. info is a staple in the cryptosphere. It is where we lead newbies to get their first wallets. It is where we receive funds and create secure paper wallets. And, it is where we go for information and current pricing.
Suppose you have not visited Blockchain. com yet, drop by and take a look around. Try out the different things available. Then, after you have formed your own opinion, stop in here and let us know your thoughts.
Thanks for joining us on this exploration. Good luck on your crypto journey. Happy HODLing!!!