Table of Contents
Blockchain.com is well-known in the cryptocurrency world, but some people are unsure about its reliability. It boasts many users who like its special features like accounts that earn interest and airdrops. However, some users have had problems. They talk about accounts being frozen, slow help from customer service, and struggling to withdraw funds. This mix of good and bad reviews shows why it’s crucial to thoroughly check out a platform’s pros and cons. It helps to be aware of what could go wrong before using Blockchain.com for your cryptocurrency needs1.
Key Takeaways
- Blockchain.com has standout features like interest-earning accounts and airdrops, even though opinions are divided.
- Many people face issues like frozen accounts and slow responses with customer service.
- It’s important to research well if you’re thinking about using Blockchain.com for buying or selling cryptocurrency.
Blockchain.com Reviews and Ratings
When you look at Blockchain.com, reading what users say is vital for trust. Trustpilot shows over 6,000 reviews with an average score of 1.6 out of 52.
Many users gave it a 1-star rating. They mention issues like frozen accounts, hard withdrawals, poor customer service, and possible scams2. This bad feedback shows Blockchain.com needs to work on its user experience and solve these problems.
Yet, about 71 million wallets have been made on Blockchain.com’s app. It handled around $620 billion in transactions in nearly 200 countries3. This shows it’s a popular platform, even with mixed user experiences.
Blockchain.com offers help through various ways: phone, email, live chat, Twitter, and Facebook4. The support is active all day and night. This highlights the company’s aim to give a safe and smooth experience to its users4.
It’s key to look at both the good and bad points to decide if Blockchain.com is right for you. This includes its large user base and recent reviews.
| Rating | Percentage | |
|---|---|---|
| 5-star | 11% | |
| 4-star | 3% | |
| 3-star | 6% | |
| 2-star | 8% | |
| 1-star | 72% | |
| Total number of reviews on Trustpilot | 6183 | |
| 1-star reviews on Trustpilot | 72% | |
| Date of the most recent negative review experience | June 22, 2024 |
User Experiences with Blockchain.com
Blockchain.com’s users have varied experiences. Some are happy, but others face issues. Many complaints show the challenges of using the platform.
Users often complain about slow transactions and withdrawals. This causes them a lot of trouble and worry2. Some have even got calls from people who say they’re from Blockchain.com. This makes people question the site’s security and be more careful4.
Getting their money out is hard for some users. They talk about not being able to access their funds and losing money. It’s very stressful for them2.
The way Blockchain.com’s customer service works is another problem. People mention being treated badly and not getting their issues sorted quickly. This adds to their bad experiences with the site2.
Also, a lot of users have trouble proving who they are. This stops them from enjoying everything Blockchain.com offers5. They get frustrated and can’t fully use their accounts and funds.
Blockchain.com needs to fix these problems. They should make the site more secure and help users better. Improving transactions and withdrawals can also help. This way, people will trust the site more and have a better time using it.
References:
- Statistical data from Source 1
- Statistical data from Source 2
Unique Features of Blockchain.com
Blockchain.com stands out from the crowd with its special features, despite some criticism.
Related Posts:
Airdrops and Interest-Earning Accounts
Blockchain.com shines with airdrop support. Users get free crypto by just holding coins6. This method boosts their crypto collections without spending more. Moreover, the platform allows for earning interest on crypto savings, turning idle funds into a passive income source7.
Diverse Range of Supported Assets
The platform backs many cryptocurrencies, including Bitcoin, Ethereum, and even Dogecoin7. This variety lets users easily handle a broad range of digital assets from one place.
Wallet Options for Storage and Trading
Blockchain.com features two main wallets. There’s a secure storage wallet that uses cold storage around the globe to keep 95% of funds safe6. Then, a trading wallet makes buying, selling, and swapping crypto easy, with a vast selection of tradeable pairs6.
The company’s Private Key Wallet highlights a non-custodial approach to fund security7. This means users fully control their wallet’s funds. Such a design ensures maximum protection and trust for users.
For more safety, users can opt for two-factor authentication 8. IP whitelists are also available to guard accounts8. And for a last-resort access, a mnemonic seed can help users reclaim their wallets, protecting their assets8.
Please insert the image below in the center. The alt attribute should contain the keyword “Unique Features of Blockchain.com”.
Pros of Using Blockchain.com
Despite negative reviews, Blockchain.com has its own set of benefits.
1. User-Friendly Interface: The site is easy to understand, especially for those new to the world of cryptocurrencies9..
2. Passive Income Opportunities: It lets users earn interest, turning their saved funds into a revenue stream. This is great for those wanting to grow their digital assets9.
3. Global Presence: The platform works in over 150 countries, more than Coinbase. This means users all over can enjoy its services and trade easily9.
4. Variety of Trading Pairs: There are 43 different trading pairs. This wide selection allows for portfolio diversification and various trading tactics9.
5. Leverage Options: For margin trading, there’s leverage up to 5 times. While this can boost profits, remember, it increases the risk too9.
6. Flexible Verification Levels: Users can pick from three different verification levels. Each comes with its unique withdrawal limits and features, catering to various trading styles9.
7. Efficient Registration Process: Signing up is quick, taking between 5 minutes and 2 hours in most cases. Even if it’s not automatic, waiting for approval won’t stretch beyond 5 working days. This allows for fast access to cryptocurrency trading9.
8. Tier-Based Fee Structure: Fees for trading are based on your trading volume. They start at 0.40% for makers and 0.45% for takers but reduce as you trade more. This system encourages more trading and makes the platform more inviting for those trading big volumes9.
9. Security Measures: Keeping user funds secure is a top priority. The use of two-factor authentication and storing most funds offline helps protect against hacks and theft. These measures are key to giving users confidence while they trade9.
Summary:
Blockchain.com is packed with advantages for cryptocurrency lovers. It’s easy to use and offers a chance to earn more from your assets. Plus, its reach across the globe, wide choice of trading pairs, personalized verification, and fast sign-up make trading smooth for everyone. The set fee structure and strong security for funds add further appeal, ensuring a safe and trustable platform9.
Cons of Using Blockchain.com
Blockchain.com has its perks, but it also has some drawbacks. Thinking about these can help you make a wise decision.
Limited Selection of Cryptocurrencies and Trading Pairs
One downside is Blockchain.com’s limited choice of cryptocurrencies and trading pairs. If you want to expand your digital assets, this might not be the best platform for you.
Lack of 24/7 Customer Support
There’s no round-the-clock customer service on Blockchain.com. You can only contact them by email. This could lead to slow replies and fix times for your problems.
Generic and Unhelpful Responses to User Inquiries
Sometimes, users get general and unhelpful answers from the support team. This can be really frustrating if you have a specific question or issue.
Absence of Lending Services
Since February 2021, Blockchain.com has stopped offering new loans3. If you’re looking to loan money or do any lending, you’ll need to check out other sites.
Limited Technical Support
Technical support on Blockchain.com is not always as good as you might need. If you face complex issues or need help fast, this could be a problem.
| Cons of Using Blockchain.com | |
|---|---|
| 1. Limited selection of cryptocurrencies and trading pairs | |
| 2. Lack of 24/7 customer support | |
| 3. Generic and unhelpful responses to user inquiries | |
| 4. Absence of lending services | |
| 5. Limited technical support | |
Security and Privacy Measures of Blockchain.com
Blockchain.com prioritises the security and privacy of its users. It uses many steps to safeguard both user data and money10.
Offline cold wallets are a big part of their security. They store 95% of users’ money this way. It means hackers find it hard to get hold of assets as they’re not online11.
Blockchain.com also uses multi-signature validation. This stops one person, even the CEO, from grabbing funds alone. Several signatures are needed for any transaction, adding extra protection11.
They offer client-side private key management too. This service lets users safely look after their keys. It’s about keeping control of your digital assets away from the reach of third parties11.
For online security, they apply TLS 1.2. This makes sure all connections between users and the site are encrypted. Plus, regular audits keep up the best practices for safety11.
To follow the rules on money laundering and knowing their customers, Blockchain.com is registered in various places. This shows their will to work within legal boundaries11.
They’ve achieved ISO 27001 Certification too. This means they’re very serious about managing the security of user data well. They make sure data is kept safe, intact, and accessible when needed11.
Blockchain.com also sticks to the CryptoCurrency Security Standard at Level 3. This level of security is specifically designed for the crypto world. It adds more protection to user accounts and the transactions made11.
They really focus on keeping user accounts safe. Their tips include choosing a strong, unique password and using two-factor authentication. Also, they advise on keeping recovery phrases offline11.
They teach users good habits too, like not sharing personal info and keeping passwords safe. And to be careful with emails, avoiding clicking on any suspicious links11.
Even with all these strong security measures, some users report problems. So, being cautious and doing your own research is always good. This helps you protect your investments and data well1011.
Company Background and Reputation of Blockchain.com
Blockchain.com started in 2011 and quickly became a leading figure in the cryptocurrency world. It serves millions globally with various services. As the first to explore the Bitcoin blockchain12, it’s been vital in managing bitcoin transactions, handling 28% from 2012 to 2020. Their team of 450 is pushing tech boundaries in blockchain.
The company managed to secure $190 million in funding by February 202112. A $300 million investment boost in March 2021 showed confidence in its growth. Despite its financial success, it isn’t without scrutiny over user issues and negative reviews on Trustpilot.
Complaints range from delayed transactions to problems in withdrawing funds. Yet, Blockchain.com continues to enhance its offerings for different markets. Its blockchain explorer offers transparency, allowing users to verify transactions. With over 65 million wallets, it’s trusted within the cryptocurrency realm12.
Although they faced challenges, getting a valuation of $5.2 billion in 2021 signaled strong market trust12. However, in 2022, they faced a significant setback and had to handle a large loan default. This resulted in staff layoffs, presenting difficulties in a fast-growing industry12.
Blockchain.com is working hard to overcome its reputation challenges. It’s focused on innovation and enhancing its services for its users12. With its diverse offerings, it remains a significant player in the cryptocurrency sector.
Blockchain.com’s Cryptocurrency Exchange
Blockchain.com isn’t just famous for its crypto wallet. It also runs a big crypto exchange. You can use it to buy, sell, and trade many different types of cryptocurrencies.
It has a lot of users and handles transactions worth a lot of money. This makes it a big name in the crypto world. Many well-known investors, like those from DST Global, Lightspeed Venture Partners, and VY Capital, are its partners too12.
| Trading Pairs | Fees Structure | Verification Levels |
|---|---|---|
| 43 | Makers: 0.00% – 0.20% Takers: 0.06% – 0.40%9 |
Silver, Gold, Platinum |
The exchange at Blockchain.com offers many trading pairs. This means you can explore lots of market options9. Even so, some people have said they faced problems with withdrawing funds and upgrading their accounts. Such problems may affect trading and withdrawal options9. Keep this in mind if you’re thinking of using the platform for trading. It’s good to know that, unlike its rival Coinbase, Blockchain.com is available in over 150 countries9.
The platform also lets you trade with leverage. This means you can magnify your trading power by 2 to 5 times9.
There are different levels of verification at Blockchain.com: Silver, Gold, and Platinum. Each level has its own withdrawal limits and features. This helps users manage their experience according to what they need9.
Despite some issues, the Blockchain.com exchange is important for crypto fans. It’s trusted for trading and learning about digital assets. Its large number of users shows it’s a key player. Plus, its funding and valuation history are strong. The platform is also big on security and privacy, which gives users peace of mind3.
Blockchain.com Wallet and Explorer
Blockchain.com offers a wallet and explorer for safely storing, managing, and checking your cryptocurrencies. It has over 30 million users13. This makes Blockchain.com a trusted name in the crypto world.
Blockchain.com Wallet
There are two main options in the wallet. You can use a storage wallet to keep your private keys. Or a trading wallet managed by Blockchain.com13. This lets users pick what works best for them.
It supports many cryptocurrencies like Bitcoin, Ethereum, and more13. This means you can keep all your crypto in one place.
Keeping your crypto safe is a priority. You control your private keys. Plus, there are security options like a 4-digit PIN or Face ID, 2FA, and a 12-word recovery phrase13. All these help keep your funds safe.
Blockchain.com Explorer
The Blockchain.com explorer lets you check and understand blockchain transactions in real-time. This helps you see how cryptocurrencies move across the network.
You can check your own transactions or anyone’s using the explorer. This ensures the safety and transparency of your crypto dealings.
The explorer is easy to use. It shows details like transaction hashes and block heights. This helps users get a better understanding of blockchain technology.
If you’re into crypto or just want to learn more, Blockchain.com is a great place to start13. It’s secure, easy to use, and offers a lot for anyone interested in cryptocurrencies.
Conclusion
It is wise to be careful when using Blockchain.com. The site started in 2011 and has over 60 million users14. It has received $190 million in funding, with a big part it ($120 million) coming in 202114. Here, you can trade using normal money in dollars, pounds, and euros14. People from 230 countries can swap different cryptocurrencies14.
Even though it has some good points, many users have had problems. These include slow answers, lost money, and not much help from support14. People talk about troubles with checking accounts, slow support, and transactions that take too long15.
While Blockchain.com seems easy to use14, its trustworthiness is in question. It’s best for people to look into other options and research well before using it14.
When it comes to Bitcoin fees, they change due to the network’s busyness. You can use Mempool to find out the right fee amount16. Plus, Blockchain.com is moving to a new website to make things better16. But, this won’t solve all problems with fund access and support15.
People have different experiences with Blockchain.com. So, it’s good to think about the good and bad before deciding. Safety and privacy are key, and looking for other services might be smart16. Your opinion on how safe and reliable Blockchain.com is will come from your own study and what you can personally put up with.
FAQ
Is Blockchain.com a trustworthy platform?
Many users have doubts about the trustworthiness of Blockchain.com. It’s wise to be cautious and do your research before using the platform for transactions.
What are the reviews and ratings of Blockchain.com?
Trustpilot gives Blockchain.com a low score – 1.6 out of 5, from over 6,000 reviews. Most users are unhappy with frozen accounts, poor support, and problems withdrawing money.
What are some user experiences with Blockchain.com?
Users have faced delays in transaction reviews and issues with phone calls. They’ve also struggled to access their money. Customer service has been described as rude, and verifying one’s identity can be problematic.
What are the unique features of Blockchain.com?
Blockchain.com stands out by letting users take part in airdrops and earn interest on their crypto. It also has two wallet types for different needs.
What are the pros of using Blockchain.com?
Blockchain.com is easy to use and lets users earn interest. This is good for new users and those who want to grow their crypto assets passively.
What are the cons of using Blockchain.com?
High trading fees, a small variety of cryptocurrencies, and withdrawal issues are major complaints. Also, the platform doesn’t offer round-the-clock support.
What are the security and privacy measures of Blockchain.com?
Security measures include offline storage for funds and the option for two-factor authentication. Yet, some users still feel the platform might have security risks.
What is the company background and reputation of Blockchain.com?
Since its start in 2011, Blockchain.com has become a key player in crypto. But, bad reviews and user experiences put its reputation in question.
What is Blockchain.com’s cryptocurrency exchange?
The exchange lets users trade digital currencies. It handles transactions worth a lot but faces criticism for high fees and withdrawal issues.
What is Blockchain.com Wallet and Explorer?
The platform has a wallet for storing crypto with a user and a company-controlled option. It also offers a way to check transactions in real-time.
What are the final thoughts about Blockchain.com?
It’s wise to be careful with using Blockchain.com due to varied user experiences. Although it has good points, the negatives about its trust and reliability are concerning. Prospective users should research well before getting involved.
Source Links
- https://nordvpn.com/blog/is-blockchain-wallet-safe/ – Is a blockchain wallet safe?
- https://www.trustpilot.com/review/blockchain.com – Blockchain is rated “Bad” with 1.3 / 5 on Trustpilot
- https://www.fool.com/the-ascent/cryptocurrency/blockchaincom-review/ – Blockchain.com Review: Pros, Cons, and More | The Motley Fool
- https://www.reviews.io/company-reviews/store/blockchain-com – Blockchain Reviews – Read Reviews on Blockchain.com Before You Buy | blockchain.com
- https://www.pcrisk.com/removal-guides/23214-blockchain-com-email-scam – Blockchain.com Email Scam
- https://www.bitdegree.org/crypto/blockchain-com-review – A Personal Wallet & Exchange Blockchain.com Review for 2024
- https://apps.apple.com/us/app/blockchain-com-crypto-wallet/id493253309 – Blockchain.com: Crypto Wallet
- https://www.investopedia.com/terms/b/blockchain-wallet.asp – Blockchain Wallet: What It Is, How It Works, Security Issues
- https://bitcompare.net/post/blockchain-com-review – Blockchain.com Review 2024: Pros, Cons and How it Compares | Bitcompare
- https://www.blockchain.com/legal/privacy – Blockchain.com | Buy Bitcoin, Ethereum and more with trust
- https://www.blockchain.com/security – Blockchain.com | Buy Bitcoin, Ethereum and more with trust
- https://en.wikipedia.org/wiki/Blockchain.com – Blockchain.com
- https://apps.apple.com/ca/app/blockchain-com-crypto-wallet/id493253309 – Blockchain.com: Crypto Wallet
- https://99bitcoins.com/bitcoin-wallet/blockchain-com/ – Blockchain.com
- https://ie.trustpilot.com/review/blockchain.com?page=2 – Blockchain is rated “Bad” with 1.3 / 5 on Trustpilot
- https://bitcointalk.org/index.php?topic=5448551.0 – Is Blockchain.info a scam?
