Blockchain Wallet is designed with both security and usability in mind. While baseline security features do offer some layers of protection, many additional security features are available as options. Within your wallet dashboard, you can visit the “Security Center” tab to see information about the security of your wallet.
Blockchain Wallet rates security in levels, giving users a tool to easily visualize and opt into additional security recommendations. Here is how they break it down:
Level One
- Email verification. Verifying your email address allows Blockchain Wallet to send you login codes to confirm payments, or advise you if any unusual activity is detected in your account. While most security features are optional, you’ll need to verify your email address in order to complete the setup process for your Blockchain wallet.
- Passphrase. A secret passphrase is created as a way to restore your account in the event that you lose your password. Because of their commitment to user privacy, the company behind Blockchain Wallet does not have access to your password, and therefore cannot help you to recover it.
- Password hint. Creating a password hint is a way to give yourself a reminder in the future, in case you forget your password.
Level Two
- 2-step verification. Activating 2-step verification will require you to enter a one-time passcode that Blockchain Wallet sends to your cell phone each time there is a login attempt associated with your account.
- Link your cell phone number. If you link your cell phone number, you can receive a one-time login via mobile any time someone tries to access your account using the wrong password.
Level Three
- Block Tor requests. This option blocks IP addresses coming from the Tor network from accessing your account. Tor is an anonymizing tool that is often used by hackers, although many privacy enthusiasts also use Tor for non-malicious purposes.
Where can I get Blockchain Wallet?
Blockchain Wallet provides an online wallet, which means that you don’t need to download or install anything to use it. Simply visit blockchain.info and sign up for a free wallet.
If you wish to use the mobile option, you will need to download the Blockchain Wallet app. The app is available for both iOS and Android.
Pros and cons
Pros
- Advanced security features, such as 2-step verification.
- You can choose to see your balance reflected in your local currency.
- User-interface design is intuitive and can be easily navigated.
- As a privacy measure, Blockchain automatically generates a new wallet address after each digital transaction.
- The company is based in Luxembourg, a country noted for having a legal structure that protects individual privacy.
- You can easily pair your web wallet with a mobile device by scanning a QR code.
- You can buy and sell cryptocurrencies directly through your Blockchain wallet.
- Cons
- Online wallets, as a whole, are generally considered to be more vulnerable to security breaches than offline wallets.
- Some users may find it a cumbersome process to go through identity verification to access their individual Blockchain wallets.
- Blockchain Wallet is only compatible with bitcoin and Ethereum.
- You cannot purchase cryptocurrencies with fiat directly through Blockchain Wallet.
ABONET : legit, secure