Blockchain.com, originally known as Blockchain.info, stands as a prominent cryptocurrency financial services provider. Launched in 2011, it began as one of the earliest Bitcoin blockchain explorers—a tool allowing users to track and verify transactions on the Bitcoin network. Over time, the company expanded its offerings to include a non-custodial cryptocurrency wallet, an exchange, and institutional market services such as data analytics, charts, and commercial lending.
Under the leadership of CEO Peter Smith, the platform has grown significantly. By 2021, it reported over 65 million wallet users and facilitated 28% of all Bitcoin transactions since 2012. The company has also secured substantial venture funding, including a $300 million investment round in March 2021.
The History and Evolution of Blockchain.com
Blockchain.info was founded in 2011 by Ben Reeves with a simple yet powerful goal: to provide transparency into Bitcoin transactions via a public explorer. Users could enter a transaction hash to view its details on the blockchain.
In 2012, Reeves collaborated with Brian Armstrong, co-founder of Coinbase, to conceptualize a Bitcoin payment platform. Their vision included digital wallets and currency exchange services. However, the partnership dissolved due to philosophical differences—Reeves advocated for user-controlled wallets, while Armstrong preferred a custodian model. Reeves continued developing Blockchain.info independently.
The platform saw rapid adoption. Wallet users grew from 100,000 in early 2013 to 1.5 million by April 2014. That same year, the company acquired RTBTC, a data analytics firm, and integrated its technology to enhance its offerings. Despite a temporary removal from Apple’s App Store in 2014—which sparked community backlash—the app was quickly reinstated.
By 2018, Blockchain.com had entered the institutional services space. In 2020, it joined the Coalition for App Fairness, advocating for better app store policies. The platform’s user base reached 31 million in 2020 and doubled to 65 million by 2021.
Recent challenges include a $270 million loss related to Three Arrows Capital’s insolvency, leading to staff reductions in 2022. Nonetheless, the company remains a key player in the crypto ecosystem.
Understanding the Blockchain.com Wallet
The Blockchain.com Wallet is a non-custodial digital wallet that allows users to store, send, receive, and exchange cryptocurrencies. As a non-custodial solution, it ensures that users retain full control over their private keys and funds—the company cannot access user assets or data.
How It Works
Users access their wallet via a private key or a recovery phrase. The wallet supports multiple cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and others. It also offers features like:
- Multi-Currency Support: Hold and manage over 20 cryptocurrencies.
- Earning Interest: Users can earn up to 13.5% annual interest on certain assets.
- Exchange Integration: Swap cryptocurrencies directly within the wallet.
- Global Access: Available in 25 languages with apps for iOS, Android, and web browsers.
The wallet’s design emphasizes security and ease of use. With over 60 million users, it is one of the most widely trusted non-custodial wallets in the world.
Supported Cryptocurrencies
Blockchain.com supports major cryptocurrencies, such as:
- Bitcoin (BTC)
- Ethereum (ETH)
- Bitcoin Cash (BCH)
- Stellar (XLM)
- Tether (USDT)
- Polkadot (DOT)
- Algorand (ALGO)
- Aave (AAVE)
This range covers most popular digital assets, making it a versatile choice for both new and experienced users.
Beyond the Wallet: Other Blockchain.com Services
Blockchain.com offers a suite of tools beyond its wallet:
- Block Explorer: Track transactions and view blockchain data in real-time.
- Exchange: Trade cryptocurrencies with a focus on security and liquidity.
- Institutional Services: Access lending, borrowing, and data analytics for enterprises.
These services cater to different segments of the crypto community, from individual investors to large institutions.
Frequently Asked Questions
What is a non-custodial wallet?
A non-custodial wallet gives you full control over your private keys and funds. Unlike custodial wallets, where a third party manages your keys, non-custodial options like Blockchain.com ensure that only you can access your assets.
Is Blockchain.com free to use?
Yes, creating and using the wallet is free. However, transaction fees (network fees) apply when sending or exchanging cryptocurrencies. These fees are paid to blockchain miners, not to Blockchain.com.
How secure is the Blockchain.com wallet?
The wallet employs robust security measures, including encryption and user-controlled keys. Since it’s non-custodial, your security also depends on safeguarding your recovery phrase. 👉 Learn more about securing your crypto assets
Can I earn interest on my crypto with Blockchain.com?
Yes, the platform offers interest-earning opportunities on certain cryptocurrencies. Rates vary by asset and market conditions, with some offering up to 13.5% annually.
What happens if I lose my recovery phrase?
Without your recovery phrase, you cannot regain access to your wallet. Blockchain.com cannot recover it for you, as they do not store your private keys.
Does Blockchain.com support NFTs?
Currently, the wallet focuses on cryptocurrencies and does not support NFTs. Users should consider alternative wallets for non-fungible token management.
Conclusion
Blockchain.com has evolved from a simple blockchain explorer into a comprehensive crypto services platform. Its non-custodial wallet empowers users with full control over their digital assets, while its exchange and institutional services broaden its appeal. Despite market challenges, it remains a trusted name in the industry.
For those entering the crypto space, understanding how to use tools like Blockchain.com is essential. 👉 Explore advanced crypto management strategies to make the most of your digital investments.