Blockchain.com Review – Is This Crypto Exchange Right For You?

Blockchain.com is a popular crypto exchange and wallet where users can buy, sell, and even earn interest on their crypto assets via desktop or the Blockchain.com mobile app.

In addition to being a fully functioning crypto exchange with crypto lending services, Blockchain.com includes an extensive blockchain explorer filled with countless charts and an NFT marketplace 

If you want to learn all about Blockchain.com’s services and whether or not they’re right for you, stick around for this in-depth Blockchain.com review.

Blockchain.com Cryptocurrency Exchange

The Blockchain.com crypto exchange supports 90 trading pairs, including BTC, ETH, DeFi, Stablecoins, and plenty more.

Blockchain.com also allows traders to buy with three fiat currencies (EUR, USD, and GBP) via one’s bank account through simple bank transfers to your Blockchain.com exchange account.

The Blockchain.com trading interface is very user-friendly and similar to that of Coinbase Pro, with a large price chart, an order book and recent trades panel, and the order entry panel to the far right.

In the bottom right corner, you can see your current account value, the value of any open orders, and buttons to withdraw, deposit, and view your portfolio.

Margin Trading

In addition to spot trading, Blockchain.com offers margin trading, which allows traders to buy with up to 5x leverage using either BTC or USD as collateral. 

Margin Trading is not currently available in the US, Canada, Japan, Germany, The Netherlands, Italy, and sanctioned countries.

Blockchain.com Trading Fees

Like many crypto exchanges, the spot trading fees on Blockchain.com work through a tiered system according to one’s monthly trading volume.

There are twelve different tiers going all the way to $1B, but most people will fall under the first tier of less than $9,999.99, which charges 0.40% maker and 0.45% taker fees.

Tier 1

$0.00 – $9,999.99 Maker: 0.40% Taker: 0.45%

Tier 2

$10,000.00 – $49,999.99 Maker: 0.17% Taker: 0.35%

Tier 3

$50,000.00 – $99,999.99 Maker: 0.15% Taker: 0.18%

Tier 4

$100,000.00 – $499,999.99 Maker: 0.08% Taker: 0.18%

The margin trading fee is 0.02% every four hours.

Blockchain Wallet

The Blockchain.com wallet is one of the most popular cryptocurrency wallets, with over 85 million created worldwide.

Once you verify your identity, you’ll be able to buy, sell, and swap crypto directly from the wallet, and because it’s a non-custodial wallet, you’ll be able to self custody all your private keys.

The Blockchain.com trading wallet is undoubtedly one of the most user-friendly crypto wallets available, so it alone could be worth checking out if you’re looking for an easy way to view and trade your crypto on the go.

Blockchain.com Earn

Blockchain.com currently offers up to 10% interest annually on idle crypto assets held on its platform.

Crypto investors can choose to stake ETH or earn monthly rewards on over 30 crypto assets, including BTC, USDC, USDT, ADA, DOT, and more.

Yields for stablecoins are all 6.5%, which is very competitive, but the yields for most other assets like BTC (0.65%), DOT (3%), and ALGO (1%) could be more appealing.

Nevertheless, there is a wide range of investment options, you can start earning with as little as $1, and the relatively lower yields are certainly more sustainable (realistic) than other crypto lending platforms. 

Blockchain Explorer

The blockchain explorer is a resource for viewing all the most important on-chain data and is easily the most interesting service Blockchain.com supports.

Users can explore the Bitcoin, Ethereum, and Bitcoin Cash blockchains to see all the latest transactions, blocks, mempool data, mining information, and much more.

Much of the data users can explore is also organized into charts, making the explorer an incredibly visual experience.

Most people likely won’t be too interested in exploring blockchain data, but for those who are, Blockchain.com is an exceptional place to do so.

NFTs

At the moment, Blockchain.com doesn’t technically support NFTs, the beta waitlist is active, and they have partnered with Open Sea to access various NFTs from its NFT page.

It’s unclear exactly what Blockchain.com’s NFT marketplace will look like, but users can buy, sell, trade, and store all their NFTs right from the Blockchain.com wallet.

How Blockchain.com Compares to Competitors

As a crypto exchange and trading platform, Blockchain.com is very similar to Coinbase, offering a comparable number of trading pairs, similar fees, and a trading interface that shares an uncanny resemblance.

Given these similarities, both platforms would be worthwhile exploring, as there is usually some specific feature or aspect of the user interface that resonates more with any individual trader or investor.

When it comes to earning interest on your crypto, Coinbase doesn’t have nearly as many options. Rather than offering rewards, Coinbase focuses solely on crypto staking.

There are several options, including stablecoins, but the yields aren’t quite as appealing as those of Blockchain.com. That said, they are still very competitive.

The key difference between the two platforms is the blockchain explorer, as Coinbase has no such service.

The absence of a blockchain explorer probably won’t be a dealbreaker for most, and you can always supplement Coinbase with Blockchain.com’s explorer or head to Dune.com, but it’s still a difference worth keeping in mind.

All in all, both platforms are exceptionally user-friendly platforms with robust suites of services, but Coinbase has the more reputable name.

While it isn’t everything, reputation in crypto can be important for the security of all the funds (including fiat funds) you hold with them, so it might be the better choice if specific yields on Blockchain.com or its explorer aren’t a must-have. 

Conclusion: Blockchain.com Review 

After carefully walking through all of its services for this Blockchain.com review, we believe Blockchain.com is an excellent trading and crypto earning platform, but its best feature is its blockchain explorer.

With 90 trading pairs and a state-of-the-art trading interface, Blockchain.com is an excellent option for crypto traders, but the trading fees are a bit high compared to major competitors like Binance (0.10%) or even Kraken (0.26%).

As for its crypto earning, the rewards on stablecoins are very appealing, but the yields on most of the other major digital assets are very low. 

That could be a good sign that Blockchain.com won’t become insolvent, but it could also be seen as too little interest to be worth the risk for most crypto investors.

Blockchain.com’s blockchain explorer is where it really begins to stand out. For anyone interested in tracking blockchain data like transactions, there are few places that will rival its interface.

In summary, Blockchain.com is among the best in just about everything it offers (perhaps soon including NFTs), but it may not quite measure up to exchanges with even more pairs, lower trading fees, or lending platforms with higher yields.

Nevertheless, Blockchain.com is a great crypto platform with a world-class blockchain explorer and should serve crypto traders, investors, and enthusiasts very well.