What is Blockchain Wallet?
A Blockchain wallet is an online application that allows many people to store and send bitcoins or other digital currencies. It is a free service that makes easier to send and receive your digital currencies without the need for any client software or hardware.
It is one of the first online wallets and besides Coinbase one of the safest for keeping your digital currencies.
Beside Bitcoin, you can create a wallet for Ethereum, Bitcoin Cash and from recently Stellar as well.
In this blog post, you’ll learn how to create your new Blockchain wallet.
Step 1. Visit Blockchain website
Go to the Blockchain website. On the home page, you will find a link “Get a free Wallet”. Alternative you can press the “Sign Up” button in the right corners of the screen.
Step 2. Create Wallet
Create your wallet by filling in your email address, a secure password, agree to the Blockchain Terms and Service and then click Continue.
Step 3. Verify your account
Once you sign up for a Blockchain wallet, you should receive an email from [email protected] with the subject Please Verify Your Email Address. Verify your email by clicking the button within the email, or you can verify your email later from within the Security Center.
Your welcome and verification emails include your wallet identifier, or wallet ID, which you’ll need later to sign back into your wallet. Make sure you have this information stored somewhere safe.
Step 4. Start Receiving or Sending Payments
Use your wallet id, along with your password, to log into your Blockchain wallet. Use your wallet id, along with your password, to log into your Blockchain wallet. Once you sign in, you’ll be redirected to your Wallet Dashboard.
With this final step, you successfully created your Blockchain account and will be able to send and receive Bitcoins and other digital cryptocurrencies.
In the next part, we will focus on how to make your account more secure.
Securing your Blockchain Wallet
Whenever you log into your wallet from a different device or IP address, you’ll be prompted to verify the log in via a verification email. It is a good security measurement, but I strongly advise you that you link your account with your mobile phone as well.
Go to the Security centre and follow the following steps to enable Two-Step Verification.
- You will need to link your mobile number. Under Enable, press the Mobile Phone Number button.
- Enter your mobile number in the field and press Get Verification Code.
- You should receive a text message with your verification code. Enter the code and click Submit Code. If you made a mistake inputting the number, press Change mobile number and enter a new number.
Two-step verification helps to prevent unauthorized access to your wallet by requiring a one-time password for every login attempt. You can disable this here if you would like to change your phone number or switch the type of two-step verification you are using.
With the mobile app, you’ll easier able to access to your blockchain account. Also, if you don’t have a camera on your desktop – you can use your mobile phone for identity verification.
In reality, if you want to stay anonymous you can use your wallet. But in order to make exchanges and have larger daily and yearly limit, we strongly advise you to verify your identity.
Based on your exchange preferences, you can choose between Silver Level and Gold Level identity verification. If you want to exchange amounts that total no more than $1,000 worth of cryptocurrencies per year, only Silver identity verification is necessary. If you want to exchange more than that (up to $25,000 per day) or participate in our airdrop program, you will need to go through Gold verification.
For Silver verification, you’ll just need to verify your email address and provide your:
- Country of residence
- A first name, last name, and date of birth
- Residential address
For Gold verification, you’ll need to complete all of the above steps for Silver verification, as well as:
- Upload identity document
- Take a picture/video of yourself
On their site, they state that if submission for Gold verification is clear and consistent, the automated verification may take anywhere from 5 minutes to 2 hours. But in our experience, it can take longer even a couple of days.
If you completed profile verification to Gold Level, read our post “How to Claim Free 25$ Stellar Lumens (XLM) with Blockchain wallet?“.
Every user needs to connect to a bitcoin network in order to transfer bitcoins. It is just like your local bank account where you create a savings account and store your money. The same way you can create a free bitcoin account with a Blockchain wallet and store your Bitcoins or other digital cryptocurrencies.
With your blockchain account, you can easily receive and send bitcoin payments or convert Bitcoins to other digital currencies at any time you want.