Over the past few months, we’ve worked to create new products and features that make the Blockchain.com Wallet experience better and easier to use. Here’s what you’ll see in the new and improved Wallet:
ERC20 token support
As enthusiasm for DeFi grows, we’ve continued to add support for ERC20 tokens like AAVE and YFI. If you’re not familiar with the acronym, an ERC20 is a token created and hosted on the Ethereum blockchain. It can hold value and be sent and received — similar to bitcoin or ether.
We now have full support for Wrapped-DGLD (wDGLD), Paxos Standard (PAX), Tether (USDT), Aave (AAVE), and Yearn Finance (YFI). In the coming weeks, we’ll add full Send/Receive support for even more ERC20 tokens.
Accounts and Private Key Wallets
In April, we announced our Updated Wallet naming conventions to help you better understand where funds are secured and stored between our custodial and non-custodial product. Accounts work in much the same way standard accounts work at other crypto firms.
With a Cash Account, you can deposit and withdraw cash (USD, GBP, and EUR); with a Trading Account, you can buy, sell, and swap crypto. Accounts connect to your verified profile information, so our support team can help you if you ever lose your password or have an issue.
Private Key Wallets, on the other hand, are where you control the Secret Private Key Recovery Phrase (your private keys) and thus entirely control the funds stored in those Wallets. When you hear the phrase ‘not your keys, not your crypto’ it’s referring to the idea that when you fully control your funds they are truly yours. But with great power comes great responsibility: if your Secret Private Key Recovery Phrase gets in the hand of a malicious actor, they have full access to the funds in those Wallets. So keep your recovery phrase secret and safe!
SegWit
In June we officially activated SegWit in the Blockchain.com Wallet. At a high level, SegWit provides you with lower fees when sending/receiving bitcoin.
There’s no change in how you go about sending or receiving Bitcoin; it’s an update to how the transactions process in the background on the blockchain. It’s easy to get started, simply transact bitcoin today.
Once upgraded to SegWit, your Bitcoin addresses will begin with ‘bc1’ — see for yourself on the receive screen of your Wallet.
ACH and Open Banking
Instant transfers for USD, GBP, and EUR are now available in the Blockchain.com Wallet with the integration of ACH and Opening Banking. For millions of users, connecting your bank account is now easier than ever. Deposit, withdraw and buy crypto in your Wallet instantly.
Leveling up your login experience
In the past few weeks, we’ve introduced two new features to your login experience: Whatsapp style QR-codes and email addresses.
You can now log in to your Wallet with a Whatsapp-style interface. Simply open your mobile Blockchain.com App, tap the QR Code Scanner in the top right and scan the code to login.
Gone are the days of remembering a complex Walet ID. You can now login to your Wallet using your email address. Simple and easy to remember. Just another way we’re leveling up your Wallet experience.
