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For cryptocurrency investors, finding the perfect exchange is crucial to having a prosperous time in the market. One exchange popular among crypto enthusiasts is Blockchain.com, but how does it stack up to other popular cryptocurrency exchanges in the industry? Throughout this Blockchain.com review, we'll take an in-depth look at the platform, discussing its benefits and highlighting its features, fees, and ease of use.
Blockchain.com is a well-designed exchange with a proven track record that allows users to buy, sell, and store various cryptocurrencies. However, while the London-based platform benefits from some seldom-seen features (like the ability to import a crypto wallet), its lack of assets and poor customer service hinder its performance. While not a bad exchange by any means, Blockchain.com struggles to keep up with competition from larger platforms we have reviewed like Binance, ByBit, and Kraken.
- Low Withdrawal Fees
- Solid Market Research
- Non-Custodial Wallet
- Comparatively High Trading Fees
- Limited Number of Assets
- Low Withdrawal Fees. Nobody wants to be charged excessive fees simply to put their money into a bank account. Luckily, Blockchain.com offers extremely competitive withdrawal fees with a 100% free option available for US residents.
- Solid Market Research. Blockchain.com offers both market research and educational resources to its users. Through the utilization of these resources, customers can make better-informed decisions, potentially having a positive long-term effect on their trading performance.
- Non-Custodial Wallet. The vast majority of exchange wallets are custodial and provide little security to the user. However, Blockchain.com offering non-custodial wallets is a step in the right direction for the industry and will likely appeal to security-centric investors.
- Comparatively High Trading Fees. Blockchain.com's trading fees are four times higher than other platforms we have reviewed. This increased cost will eat into profits over the long term and is best avoided for active traders (i.e. day traders)
- Limited Number of Assets. Despite being a fully-featured exchange, Blockchain.com has a surprisingly small number of supported assets and trading pairs. As such, investors looking to buy lesser-known altcoins should take a look elsewhere.
Blockchain.com - At A Glance
|Features||Spot exchange, Blockchain.com Card, Staking, and Market Research|
|Accepted Fiat Currencies||USD, EUR, GBP|
|Payment Methods||Bank Transfer, Credit/Debit Card|
|Number Of Trading Pairs||69|
|Customer Support||Ticket System, Twitter Support|
|Security Measures||AES-256 Encryption, Cold Storage, 2FA|
|Mobile App||Yes (Android and iOS)|
Founded in 2011, Blockchain.com initially started as the first Bitcoin blockchain explorer to find and track Bitcoin transactions. However, in 2012, a Blockchain.com wallet was released, rapidly gaining popularity as cryptocurrency's prevalence grew. Today, the Blockchain.com platform enables users to trade and store cryptocurrency securely.
In addition, the platform offers additional features like staking, educational material, and a Visa-based card allowing users to spend cryptocurrency in real-world establishments. While currently unregulated, Blockchain.com has shared that it aims to become regulated to ensure that it complies with upcoming regulatory requirements in the UK.
Blockchain.com Compared and Alternatives
|Exchange||Crypto Assets||Trading Fees||Rating||Promotion||Website||Review|
|385||0.1% (spot) and 0.02% / 0.04% (Futures)|
|Up to $100 welcome bonus||Visit Binance||Binance Review|
|222||0.16% (maker) and 0.26% (taker)|
|None available at this time||Visit Kraken||Kraken Review|
|73||0.30% (Maker) 0.40% (Taker) or 0% with Sub $1,000 30-Day Volume|
|None available at this time||Visit Bitstamp||Bitstamp Review|
Review of the Top Features on Blockchain.com
Below, we've highlighted a few of the crypto exchange's most intriguing and valuable features.
Over the past few years, it's become commonplace for cryptocurrency exchanges to release debit cards that enable users to spend their crypto in everyday establishments like supermarkets and leisure centers. Blockchain.com has thrown its hat in the ring by offering verified US customers a Visa debit card. With the Blockchain.com card, people can buy goods using crypto with no additional transaction fees levied.
Providing a further incentive for users to register for the Blockchain.com card, users will be able to earn 1% crypto cashback on all purchases. The card is expected to release to US customers within the next few months, with its waitlist currently open.
Cryptocurrency staking and rewards
Blockchain.com has both traditional staking and a rewards account that provides incentives for people to hold their assets on the platform. Both features only require a small initial investment of $1 and can provide rewards ranging from 0.65% to 10% APY.
The rates offered by Blockchain.com are aligned with the industry average compared to the best crypto yield platforms. However, there is only 1 token that can be staked on the platform which is Ethereum. The other assets are part of the reward program which involves storing assets on the blockchain.com network. It is unclear how the rewards are earned.
Market research and educational resources
For people wanting to beat the market, information is crucial. Blockchain.com offers its users access to an online learning portal that contains a range of educational resources covering the basics of Bitcoin, crypto wallet security, and basic technical information.
Another offering from Blockchain.com that helps its users to make well-informed decisions is its market research platform. With a dedicated team putting together well-thought-out papers on topics like the future of decentralization, crypto-asset investment, and market outlooks from an institutional perspective.
While having one or the other is quite common, Blockchain.com's offering market research and simple educational material puts it above most platforms. However, while there is information on the basics, it would be nice to see some extra coverage for trading-related activities.
Account Creation & ID Verification
Before it's possible to start trading using Blockchain.com; users only need to enter an email address, password, and country of residence to complete the initial setup. While users can create an exchange account without confirming their identity like other non-KYC crypto platforms, it will only support crypto deposits and an annual crypto withdrawal limit of $1,999. However, by providing a photo ID (passport, driving license) and proof of address (bank statement, utility bill), users can enable fiat deposits and increase withdrawal limits to $300,000 weekly.
Supported Fiat Currencies and Deposit Methods
Supporting a large variety of fiat currencies is crucial to ensure that no users on a platform become alienated. However, Blockchain.com is relatively limited when it comes to fiat deposit methods. Users can choose between USD, GBP, and EUR. Crypto deposit methods include Bitcoin, Ethereum, various stablecoins, and a
The choice of payment method is slightly more open. Blockchain.com users can choose between credit/debit cards and bank transfers. The transfer process differs from country to country but includes typical regional providers like SEPA, Open Banking, and ACH.
Supported Crypto & Trading Pairs
Another limitation we found while creating our Blockchain.com review is the platform's lack of supported cryptocurrencies. While it's common for crypto exchanges to offer hundreds, if not thousands, of different cryptocurrencies, Blockchain.com supports only 31.
Although Blockchain.com does support popular assets like BTC, ETH, and ADA, other popular assets like XRP, SHIB, and MATIC are not offered. As such, it's worth checking out the complete list of supported assets before registering with Blockchain.com to ensure that the exchange supports desired assets.
While the number of cryptos on Blockchain.com could be better, the exchange offers a slightly better range of fiat-based pairs. Every asset on the platform has a USD pair, and users can purchase stablecoins, Bitcoin, Bitcoin Cash, Ethereum, and Polkadot using EUR or GBP. The only crypto-denominated pair available is BTC/ETH.
The range of cryptos and trading pairs available on Blockchain.com is far lesser than expected from a market-leading platform. Although unlikely to be an issue for those solely investing in the most popular projects, investors looking to load up on altcoins will likely have better luck on a dedicated altcoin exchange.
Access to a secure blockchain wallet is crucial for professional traders and beginner investors alike. Every platform that supports spot trading comes with an in-built cryptocurrency wallet, but not all digital wallets are built equally.
While the Blockchain.com wallet misses the trick in some areas, it shines in others. For example, despite the exchange offering 31 different cryptocurrencies, there is only native support for Bitcoin, Bitcoin Cash, Stellar, and Ethereum (plus most ERC-20 tokens).
While most crypto exchanges offer a custodial wallet (meaning the platform controls the private keys), Blockchain.com provides its users with a non-custodial wallet (meaning users have complete control over the wallet). Offering a non-custodial main wallet is excellent for security and will appeal to investors looking to store their assets before moving to offline cold wallets.
Furthermore, Blockchain.com has added wallet options that enable customers to import their own wallet using its private key. This is rare to see from an exchange and provides a great deal of additional accessibility and safety. However, its limited support for different cryptocurrencies does leave something to be desired.
Nobody wants to buy or sell crypto to find they're subject to fees far higher than anticipated. To ensure our readers have a solid understanding of Blockchain.com's fees, we've broken them down below.
Blockchain.com operates using a maker/taker volume-based fee structure that starts at 0.40% respectively and reduces with volume. Trading volume is calculated on a 30-day basis and resets monthly. Users looking to trade with leverage will also be subject to a reoccurring margin trading fee of 0.02% every four hours. The fees are similar to the Crypto.com Exchange (read our Crypto.com review).
|Monthly Trading Volume||Maker Fee||Taker Fee|
|$0.00 - $10,000||0.40%||0.40%|
|$10,000.00 - $50,000||0.17%||0.35%|
|$50,000.00 - $100,000||0.15%||0.18%|
|$100,000.00 - $500,000||0.08%||0.18%|
|$500,000.00 - $1,000,000.00||0.07%||0.18%|
Another area that commonly incurs fees is depositing and withdrawing. In this subject, Blockchain.com excels. There are no fees other than standard network fees for withdrawing or depositing crypto.
While fiat deposits are also not subject to fees, Open Banking, SEPA, and FPS withdrawals are subject to a $0.50 fee and a $5 minimum. On the other hand, ACH withdrawals are free with a $10 minimum, and wire transfers have a $25 fee and a $2,500 minimum.
Blockchain.com Fees - Compared
The fees offered by Blockchain.com are in line with the broader industry. While platforms like Binance offer superior trading fees, their increased withdrawal costs offset things. With that said, the transaction fees are higher than some platforms by a factor of four, meaning Blockchain.com isn’t very cost-effective for high-frequency traders and should be avoided. To highlight how Blockchain.com compares to other cryptocurrency exchanges we've reviewed, we've summarized the fees in the table below.
|Exchange Name||Trading Fee|
Blockchain.com Ease of Use
Blockchain.com is divided into two platforms, the Blockchain exchange and the Blockchain Wallet. However, despite what the names imply, users can buy, sell, and swap cryptocurrencies on the wallet platform. Furthermore, users can deposit and view their portfolios in the Blockchain Exchange.
While the two platforms are similar, the Blockchain Exchange has more advanced features, including an order book-style interface, TradingView integration, and cryptocurrency charting products. On the other hand, the Blockchain Wallet features a simple interface designed primarily for beginners.
Although it's nice to see features tailored to experienced traders and beginners, the differences between the platforms could be more clearly signposted. As it stands, being split into two platforms will likely cause some confusion among users and is something to be aware of when using Blockchain.com for the first time.
If something unexpected occurs, having access to prompt customer support can relieve stress. Blockchain.com offers ticket-style customer support, enabling users to describe their issues and get an email response. The company also offers support via a dedicated Twitter account, providing more choices for users.
The lack of live chat or phone support is quite detrimental to the usability of Blockchain.com. Furthermore, users have reported that the support team doesn't always reply to queries. As such, investors that hold quick and helpful support in high regard might be better off using another cryptocurrency exchange.
Blockchain.com has utilized a variety of different techniques to ensure that people using the platform remain safe. One of the ways Blockchain.com ensures client safety is through the use of cold storage. An impressive 95% of all the funds held are stored securely in cold storage, greatly reducing the chance of customers being left out of pocket as a result of a hack.
Another way that Blockchain.com protects its users is through encryption. Personal information and cryptocurrency wallets are both obscured using AES-256 encryption. Furthermore, Blockchain.com maintains that users have complete ownership of their funds, something that's surprisingly rare, with even titans of industry like Binance not including this in their terms.
While there have been no direct reports of Blockchain.com itself getting hacked, some users have reported that their accounts have been compromised. While always a risk, investors can reduce the chances of this happening by setting up two-factor authentication and bookmarking the legitimate Blockchain.com site.
Blockchain.com Mobile App
Like the web platform, Blockchain.com on a mobile device is split into two apps, the Blockchain Wallet and the Blockchain Exchange. The Blockchain Wallet is an all-in-one platform that enables users to buy/sell crypto and provides access to staking/reward accounts. The app is easy-to-navigate but lacks advanced order types or charting tools. Conversely, the Blockchain Exchange app is solely for traders. Users cannot access staking or their rewards account but are granted the same advanced trading features (order book, TradingView, order types) offered by the web platform.
Having beginner-friendly and more advanced apps can work well to improve accessibility. While it adds a little more confusion to the Blockchain.com ecosystem, enabling users to select the app they desire doesn't have many downsides.
While most users wrote rave reviews about the app, others commented that Blockchain.com didn't communicate the 3-day hold on deposited funds well. While this doesn't impact function, it's something to be aware of before registering for Blockchain.com.
Frequently Asked Questions
Blockchain.com is a cryptocurrency exchange. The platform enables users to buy, sell, convert, and stake cryptos easily. The confusion surrounding its status as an exchange likely stems from the platform being separated into two platforms named the Blockchain Wallet and the Blockchain Exchange.
Blockchain.com boasts industry-leading security and makes every effort to protect its users. While Blockchain.com accounts have been compromised in the past, the exchange itself is yet to suffer a hack.
Blockchain.com does not presently have a native crypto token. However, as the platform operates an airdrop program, we could see one distributed among users in the future.
Blockchain.com users that do not want to complete the KYC process can only deposit crypto and are limited to $1,999 in withdrawals annually. However, completing KYC on the platform will remove these limitations.
Final Score and Verdict
Blockchain.com is a fully featured cryptocurrency exchange likely to investors of all experience levels because it is segmented into two platforms. However, with the platform only offering support for a handful of crypto assets, investors looking to purchase a more extensive range of tokens might find a few assets missing.
Overall, Blockchain.com is a capable exchange, let down by its limited number of cryptocurrencies and poor customer support. While the platform does some things well, most of its offerings have been implemented better on other exchanges.
During the creation of our Blockchain.com review, we awarded each section a HedgeWithCrypto Score. Readers can find our scores for each aspect of Blockchain.com below.
|Blockchain.com Criteria||HedgewithCrypto Rating|
|Features||4.4 / 5|
|Supported Fiat and Deposit Methods||3 / 5|
|Supported Crypto & Trading Pairs||3.4 / 5|
|Fees||3.5 / 5|
|Ease of Use||4 / 5|
|Customer support||2.6 / 5|
|Security Measures||4.5 / 5|
|Mobile App||4.2 / 5|