Blockchain.com Review 2024: Features, Fees, Pros, & Cons
Our Take On Blockchain.com
THE BOTTOM LINE:
Blockchain.com is an established crypto investment and trading services provider with a varied portfolio of tools and worldwide availability. The platform is suitable for private and institutional investors alike, attracting high-trading volume users with a flexible fee structure.
Pros
- Fees become lower the more you trade on Blockchain.com
- Available in over 150 countries
- Additional functions like block explorer and upcoming Visa card
Cons
- Focused on Ethereum-based currencies
- Fee advantages only for high-trading volume investors
Blockchain.com was one of the first crypto exchanges to launch after the introduction of Bitcoin as the first widely recognized cryptocurrency. Established in 2011 as a simple block explorer, the platform has since evolved as an all-around crypto trading and investment solution.
With headquarters in Luxembourg, Blockchain.com caters to customers not only in Europe but all over the world, with availability in over 110 countries. Read on to find out all about Blockchain.com, its products and fees, and how the platform fares compared to its main competitors.
What Is Blockchain.com?
Blockchain.com is an all-around crypto trading solution and wallet provider with a long-standing history in the space. Check out some of the key elements and data points for Blockchain.com below:
| Highlights | Description |
|---|---|
| Products | Exchange, spot trading, margin trading, staking |
| Supported Currencies | Crypto: over 20 tokens including BTC, ETH, and USDC | Fiat: USD, GBP and EUR |
| Fees | As low as 0.00% maker fee, and 0.06% taker fee depending on trading volume |
| Withdrawal Fee | Between $0 and $25 depending on withdrawal method |
| Availability | Available in over 110 countries, including the US *except New York |
| Minimum Transaction Value | $1 |
How Does Blockchain.com Work?
Blockchain.com is a cryptocurrency exchange and wallet provider that aims to bring investors a complete suite of crypto investment products. Thanks to the integrated exchange and trading services, the Blockchain.com wallet is suitable for traders looking to invest on the go and with flexibility.
The platform offers diverse investment services, including spot trading, margin trading, and crypto token staking. With a long-standing history in the crypto space, Blockchain.com has processed over $1 trillion in crypto transactions since its launch in 2011.
Blockchain.com Pros And Cons
Pros
- Fees become lower the more you trade on Blockchain.com
- Available in over 150 countries
- Additional functions like block explorer and upcoming Visa card
Cons
- Focused on Ethereum-based currencies
- Fee advantages only for high-trading volume investors
Blockchain.com Features
Blockchain.com was one of the first all-around crypto trading sites to come to market. The platform offers numerous investment services for private and institutional traders alike.
Exchange
One of the main purposes of the Blockchain.com platform is to serve as an asset exchange. The platform supports over 90 trading pairs, including BTC, ETH, stablecoins, and more. Moreover, Blockchain.com has a white glove program, allowing high-activity traders who trade over $100,000 in volume in a 30-day period to benefit from lower fees on the platform.
Margin Trading
Margin trading is an advanced service offered on the Blockchain.com exchange. This allows users to perform trades with collateral assets that they do not own. This is extremely helpful when volatility sweeps over the crypto market, allowing investors to still perform trades, but protect their portfolios. Importantly, Blockchain.com has a relatively low margin trading fee of 0.02% every four hours.
Spot Trading
Spot trading is the traditional trading mechanism where investors purchase and sell assets to build their portfolios. Unlike margin trading, spot trading on Blockchain.com requires traders to have the required capital at hand in order to complete a trade. The platform also supports automated spot trades, which are triggered automatically when an asset reaches a certain price tag.
Blockchain.com has a flexible fee structure for spot trading, which recognizes trading activity. The more a trader uses spot trading and builds up trading volume, the lower the fees charged by the platform.
Staking And Rewards
Blockchain.com’s native wallet allows traders to stake funds from their portfolios and earn passive income in the form of interest. The Staking and Rewards function offers traders a way to maximize their returns without exposing their portfolio assets to risk. With weekly, monthly, or yearly lockups, traders can earn up to 10% of the value of their staked assets on a yearly basis.
Cryptocurrency Wallet
To enhance security for its users, Blockchain.com has created a private key cryptocurrency wallet to offer to traders. This wallet is completely controlled by the user, who is the sole owner of the private keys securing it. The wallet supports storage of tens of different cryptocurrency assets, including AAVE, BTC, ETH, and USDC, as well as fiat currencies like USD and EUR. Users of the Blockchain.com wallet can easily view their portfolio value and how much each asset represents of the overall value of their net worth.
Trading Wallet
Aside from simple storage of assets, the Blockchain.com wallet supports trading functions as well. Users can purchase, sell, and trade crypto directly through the wallet platform or mobile application. What’s more, traders can purchase crypto directly with their debit or credit card, making the on-ramp process easy and accessible.
Explorer
The Blockchain.com Explorer is a one-stop shop for all things crypto. The hub allows you to track the prices of your favorite tokens, read the latest news from the crypto space, and create your own comparison charts and price analysis dashboards. With the explorer, you can also perform detailed transaction history analysis and blockchain contract activity.
NFTs
Blockchain.com has decided to further its portfolio of products by launching beta support for NFTs as well. Integrating with the largest secondary marketplace for NFTs, OpenSea, Blockchain.com aims to bring an all-around crypto solution to its users. The NFT integration will allow users to buy, sell, and view the NFTs they own directly through their Blockchain.com wallet.
Institutional
While Blockchain.com focuses mainly on individual investors, the company’s Radial platform offers services to institutional investors. Radial supports spot trading, derivatives trading, and lending tools aimed at giving institutional investors access to the crypto market.
Visa Card
To keep up with the ever-evolving crypto space, Blockchain.com is also working on rolling out dedicated Visa cards tied to the platform’s wallet. This is not yet available, but interested users can sign up on the waitlist. According to the preliminary announcement for the card, users will be able to spend their crypto and earn up to 1% in cashback.
What Countries Are Supported?
Blockchain.com is one of the best-recognized crypto trading and wallet providers in the space. In order to reach as many users as possible, the platform is available in over 110 countries. You can view the full list here.
Importantly, some regions, including the US state of New York, are not yet covered by Blockchain.com’s support. However, users who do not find their country or region among the list of those supported are encouraged to contact the platform, as it is constantly working to broaden its reach.
Blockchain.com Fees
Blockchain.com has one of the most flexible fee structures in the crypto space. Instead of charging fixed fees, the platform encourages investors to boost their trading volume, which diminishes their spot trading fees. Find out more about Blockchain.com fees from the table below:
Spot Trading Fees
| Volume In 30 Days | Maker Fee | Taker Fee |
|---|---|---|
| $0.00 – $9,999.99 | 0.40% | 0.45% |
| $10,000.00 – $49,999.99 | 0.17% | 0.35% |
| $50,000.00 – $99,999.99 | 0.15% | 0.18% |
| $100,000.00 – $499,999.99 | 0.08% | 0.18% |
| $500,000.00 – $999,999.99 | 0.07% | 0.18% |
| $1,000,000.00 – $2,499,999.99 | 0.06% | 0.18% |
| $2,500,000.00 – $4,999,999.99 | 0.05% | 0.18% |
| $5,000,000.00 – $24,999,999.99 | 0.04% | 0.16% |
| $25,000,000.00 – $99,999,999.99 | 0.03% | 0.14% |
| $100,000,000.00 – $499,999,999.99 | 0.02% | 0.11% |
| $500,000,000.00 – $999,999,999.99 | 0.01% | 0.08% |
| $1,000,000,000.00+ | 0.00% | 0.06% |
Other Fees
| Fess | Amount |
|---|---|
| Margin Trading Fee | 0.02% |
| Recurring Margin Trading Fee | 0.02% every four hours |
| Deposit Fees | No deposit fees |
| Withdrawal Fees | OPEN BANKING (EUR) – € 0.50 (Minimum Withdrawal: €5), SEPA (EUR) – € 0.50 (Minimum Withdrawal: €5), Wire (USD) – $25 (Minimum Withdrawal: $2,500), FPS (GBP) *UK residents only – £0.50 (Minimum Withdrawal: £5), ACH (USD) *US residents only – Free (Minimum Withdrawal: $10) |
What Wallets Are Supported?
Blockchain.com relies on its native wallet to ensure the security of its customer’s funds. The wallet is accessible both on mobile and on desktop. In order to use the Blockchain.com exchange and trading features, users will have to transfer funds to the platform’s native wallet.
Cryptocurrency Available On Blockchain.com
Blockchain.com strives to offer its users as much flexibility as possible. To do that, the platform supports a wide range of Ethereum-based tokens, including:
- Bitcoin (BTC)
- Ether (ETH)
- Bitcoin Cash (BCH)
- Stellar lumens (XLM)
- Pax Dollar (USDP)
- Tether USD (USDT)
- USD Coin (USDC)
- Wrapped Bitcoin (wBTC)
- Yearn.finance (YFI)
- Aave (AAVE)
- Litecoin (LTC)
- Polkadot (DOT)
- Dogecoin (DOGE)
- DeSo (DESO)
- Algorand (ALGO)
- Celo Euro (cEUR)
- Solana (SOL)
- NEAR Protocol (NEAR)
- Stacks (STX)
- Cardano (ADA)
- Uniswap (UNI)
- Sushiswap (SUSHI)
- ApeCoin (APE)
- Curve (CRV)
- Ethereum Classic (ETC)
- Compound (COMP)
- Chainlink (LINK)
- Synthetix (SNX)
- TRON (TRX)
- Chiliz (CHZ)
- Gala (GALA)
How To Sign Up For Blockchain.com
Signing up for Blockchain.com is easy. Follow the detailed walkthrough below to get started on the platform.
Step 1: Visit blockchain.com and click on the “Sign Up” button in the top right corner.
Step 2: Fill in your email address, preferred password, and country of residence. Click on “Continue” when you are done.
Step 3: Verify your email address.
Step 4: You can now log in to the platform. You can also use the Blockchain.com mobile app to log in.
Step 5: Complete your identity verification and load your wallet with crypto to start using the platform.
Step 6: Fill in your name and date of birth.
Step 7: Fill in your residential address information.
Step 8: Fill in your “Use of account” information.
Step 9: Select a document you would like to use for the identity verification check.
Step 10: Wait for the verification process to go through and for your documents to be checked.
Blockchain.com Security Features
In the crypto space, security is of the utmost importance, and Blockchain.com strives to ensure that by employing numerous security features.
Two-factor Authentication (2FA)
Blockchain.com users have the option to enable two-factor authentication (2FA) when logging into their profiles. 2FA requires users to confirm their login through an outside channel like their email or mobile phone. This added layer of security protects traders from possible hacks on their accounts and ensures that their portfolio is safe even if one of the users’ devices is compromised.
Private Wallet Keys And Secret Phrase
Another important security feature for the Blockchain.com wallet is the private key and secret recovery phrase. One of the main principles in the crypto space is “not your keys, not your funds” and this is why Blockchain.com gives users ultimate control over their crypto wallet.
The secret phrase is the only way to access the Blockchain.com wallet from a new device, while the private keys make the transfer to a new device easy. However, these two phrases should be kept safe, as whoever has access to them has access to the users’ wallets.
Blockchain.com Compared To Other Exchanges
Blockchain.com is one of the pioneers in the crypto space when it comes to wallet and exchange services. However, as the space keeps growing and developing, competitors are popping up, challenging the platform position. Check how Blockchain.com compares to its main competitors below.
Blockchain.com Vs. Coinbase
Coinbase is one of the best-recognized crypto exchanges, especially in the United States. In terms of minimum transaction value and fees, the exchange offers similar terms as Blockchain.com. However, Coinbase has very limited availability, confined only to three main countries, while Blockchain.com offers its services in over 110 countries.
| Blockchain.com | Coinbase | |
|---|---|---|
| Fees | Flexible, as low as 0.00% depending on trading volume | 0%–0.6% |
| Minimum Transaction Value | $1 | 1.00 of digital currency denominated in local currency |
| Availability | Over 110 countries | Only available in: US, Canada, United Kingdom |
Blockchain.com Vs. Crypto.com
Crypto.com is a versatile trading platform and wallet provider that aims to make trading easy through its rich mobile app offering. One of the main advantages the platform has compared to Blockchain.com is the fact that Crypto.com does not have a minimum transaction value requirement. On the other hand, Blockchain.com has a much broader availability, including 110+ more countries in its supported territories.
| Blockchain.com | Crypto.com | |
|---|---|---|
| Fees | Flexible, as low as 0.00% depending on trading volume | Flexible, as low as 0.0500% depending on account level |
| Minimum Transaction Value | $1 | No minimum trading amount |
| Availability | Over 110 countries | Over 100 countries |
Blockchain.com Review And Final Thoughts
Blockchain.com is an all-around crypto trading and investment solution that offers users both exchange functions and a secure crypto wallet service. Thanks to its floating fee structure, the platform is extremely suitable for active investors with high monthly trading volumes.
Frequently Asked Questions
Blockchain.com is a licensed financial services provider with a certification from the Nationwide Multistate Licensing System. The platform has a long-standing history in the space, since its establishment in 2011.
Blockchain.com offers crypto trading services and a native cryptocurrency wallet.
Depending on the currency you want to withdraw, you can use direct bank transfer, SEPA, wire, or ACH transfers. You can also send crypto from your Blockchain.com wallet to another wallet.
The Blockchain.com wallet gives customers complete control over their assets. The wallet keys and secret recovery phrase are only available to the user, and the platform supports two-factor authentication.
Blockchain.com was founded in 2011 by Benjamin Reeves, Nicolas Cary, and Peter Smith, with Mr. Smith serving as the CEO. The company’s headquarters are located in Luxembourg City, Luxembourg. Blockchain.com is currently valued at $14 billion with investments from companies like DST Global, Lightspeed Venture Partners, and VY Capital.
