About Blockchain.com
The Blockchain.com cryptocurrency exchange claims that their program has been used to establish more than 71 million wallets, and it lists $620 billion in transactions from roughly 200 different countries. Although the exchange only offers a small number of cryptocurrencies, Blockchain.com provides special capabilities that other, larger exchanges do not. U.S. investors can use the Blockchain.com platform, but it’s a good idea to confirm that your state doesn’t have any restrictions on access as certain governments forbid bank transactions to finance cryptocurrency exchange accounts. Find out if this exchange is good for you by reading our whole Blockchain.com review.
Features on Blockchain.com
Trade on Blockchain.com
The software from Blockchain.com has a standard trading dashboard. By clicking on the “+” symbol in the top left corner of the screen, you may see its short list of trade partners. In the center of the screen, the chart displays price movement and trade volume.
Staking on Blockchain.com
The current interest rates are not displayed on the Blockchain.com website. The following are the minimal deposits needed for its supported currencies:
- Bitcoin ($300 minimum BTC)
- Ether ($100 minimum ETH)
- USD Digital ($100 minimum USD-D)
- Tether ($100 minimum USDT)
- Bitcoin Cash ($1 minimum BCH)
- Stellar Lumens ($1 minimum XLM)
Wallets on Blockchain.com
Two wallet choices are available on the Blockchain.com network, each with a particular purpose and level of protection.
The non-custodial primary wallet comes first. It implies that both the private keys used to safeguard the stored coins and their access are entirely under your control. You may switch e-currencies and set up an interest-bearing account from the main wallet. It cannot store reserve currencies; it can only handle cryptocurrencies.
The custodial trading wallet, which Blockchain.com administers on your behalf, comes in second. All the money in the trading wallet is still yours. Blockchain.com manages and monitors the security. To buy and sell cryptocurrencies on the Blockchain.com exchange, you need a trading wallet. In addition to the coins and tokens specified in 52 trading pairings, it may store four reserve currencies.
Trading fees
There are 12 payment categories depending on the 30-day trading volume in US dollars, ranging from $0.00 to $1 billion, according to the Blockchain.com fee table. Both manufacturers and takers are subject to these 12 levels. According to the volume scale, makers’ fees range from 0.20 to 0.00 percent. Fees for takers for the same 30-day dollar scale range from 0.40% to 0.06%.
Security on Blockchain.com
Blockchain.com emphasizes that its primary wallet—which only individual users, not Blockchain.com, can access—is evidence of its dedication to security. The website claims that consumers are empowered by its non-custodial wallet. Users are solely responsible for safeguarding their private digital keys, which are needed to access their wallet and any stored digital assets.
Moreover, Blockchain.com offers a second 4-digit pin or fingerprint to access the account, a 12-word backup phrase that is exclusive to each wallet, and two-factor verification. However before making a deposit, we advise you to read the evaluations of the iPhone apps.
Conclusion
Blockchain.com offers a cryptocurrency exchange platform with over 71 million wallets and $620 billion in transactions from 200 different countries. The exchange provides unique features such as staking and two different wallet options, including a non-custodial primary wallet that offers full control to users over their private keys and a custodial trading wallet that is managed and monitored by Blockchain.com. While the exchange has limited cryptocurrency offerings, it offers competitive trading fees based on a 30-day trading volume scale. Overall, Blockchain.com appears to be a secure and reliable platform for individuals looking to trade cryptocurrencies.
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