Overview
Blockchain.com launched its web wallet in 2011, and it was the first wallet for many early Bitcoin users; the company says it has created over 90 million wallets. Today the app combines two things:
- a custodial account (Blockchain.com holds your crypto, with KYC), and
- a self-custody DeFi Wallet, where you hold the keys with a recovery phrase.
It is important to know which one you are using, because only the DeFi Wallet is truly yours.
Features
- Supports Bitcoin, Ethereum, Solana, Polygon, Tron and many tokens in the DeFi Wallet.
- Swaps and dApp connections.
- Buying, selling and staking through the custodial account.
Security
Blockchain.com has not had a major breach of user wallets. Older web-wallet users were often targeted by phishing sites imitating the login page. The company suffered losses during the 2022 market crash through loans to Three Arrows Capital, which affected its business but not users’ self-custody wallets.
Pros and cons
Pros
- Trusted, long-running brand.
- Easy for beginners.
- Self-custody and custodial in one app.
Cons
- Two account types can confuse users.
- Fees on swaps and purchases.
- Fewer DeFi features than specialist wallets.
Who it’s for
Beginners who want a well-known name and a simple path from buying crypto to holding it themselves.
Verdict
Blockchain.com is a reliable starter wallet. Use the DeFi Wallet if you want real self-custody.