How to

Blockchain Wallet: A multipurpose cryptocurrency wallet

Key facts:
  • Allows you to store, so far, four different cryptocurrencies (BTC, BTH, ETH and XLM)

  • It is an online portfolio, where the portal stores the seeds.

Being one of the most widely used wallets, Blockchain Wallet offers a hybrid of an online wallet with a deterministic wallet (generated from a recovery seed) that allows you to store a total of four different cryptocurrencies (bitcoin, bitcoin cash) so far. , ether, stellar).

Consider the fact that, being an online wallet, it compromises funds in one way or another, eh because it is the portal that will manage our seedand therefore the private keys, so that the centralized point is vulnerable to possible attacks.

Registration within the platform is done via e-mail, although re-entering will require an identifier that is created at the time of registration and sent to our email. Later I will explain the importance this has when it comes to asset protection.

In this tutorial I will show you how to send and receive cryptocurrencies within Blockchain Wallet. Also on how to manage different portfolios within the platform. I will also explain how you can import or delete foreign private keys and manage them from here. In the future installment we are exploring swap exchanges and buying and selling on the same portal.

First you need to create an account in Blockchain Wallet, so we will have to go to main portfolio portal.

Source: Blockchain.com.

Here we will have to click on Create your wallet or also on Register, option at the top.

Source: Blockchain.com.

Now we will have to enter our email and password, yes preferably contain uppercase, lowercase letters, numbers and special characters. After reading and accepting the terms and conditions, we will proceed by clicking Continue.

Source: Blockchain.com.

This is all we need to create our account, but now it’s time to verify our email.

Source: Blockchain.com.

This will be the email we will receive when registration is complete. As you will see, inside this is the wallet ID, which is an identifier the one I was talking about. Now what you need to do is click on Yes, this is my email, which will take us back to the portfolio.

Before I continue, I want to explain something that has been quite interesting to me about the registry. As I mentioned at the beginning, portfolio creation is done via email, but login is done using an identifier. Now, this process “allows”, in a way, to register with the same email multiple times. Because with each new account, a new identifier will be created that will arrive at our e-mail, that is, a completely new wallet that will generate a new set of recovery words, completely different.

That’s why I told you that this identifier will play a fundamental role when it comes to protecting the funds, because without it and without the seed it will not be possible to recover the funds.

As a recommendation, try to mark this email as important in your inbox, or if possible save it somewhere we’re sure we won’t delete it.

Source: Blockchain.com.

Before researching or starting to send and receive funds, we must always make a proper backup, regardless of the wallet, as long as it allows. That’s why we’ll start by going to the Security Center option, at the bottom of the left menu.

Source: Blockchain.com.

Here we will look for the option highlighted in the red box and click on Backup Assets, where Later it will offer us a printable format in which we can write 12 words. This is because the most recommended way to save these seeds is to write them down on paper and keep them in a safe place.

Source: Blockchain.com.

The backup process consists of 4 words that are displayed simultaneously, which we will write in order from left to right.

Source: Blockchain.com.

The last step will be to check 4 random words within a group of 12. As you will see, the position of the word that must be checked is indicated. Once this is ready, we’ll hit Confirm and we’ll create a backup.

Let’s start with the reception. The first thing is to get the public address of the cryptocurrency of our choice, reminding that Blockchain Wallet manages 4 of them: bitcoin, ether, bitcoin cash and stellar. Therefore, either directly from the control panel, or from a specific portfolio, we will select the Request option at the top.

Source: Blockchain.com.

First we will choose the cryptocurrency to receive, which in our case will be bitcoin. Later we will have to choose a wallet to receive it, since Blockchain Wallet allows managing different wallets within the platform – I’ll show you how later. With the wallet already selected, we can copy the public address to which the funds will be sent

On the other hand, and only in the case of Bitcoin, We have the ability to generate payment requests for users who send from another Blockchain wallet. To do that we have to enter the amount we need to get, the description and then click next, in the same previous field.

Source: Blockchain.com.

All that remains is to copy and share the link corresponding to the created payment request.

In case of other cryptocurrencies, we can just select the destination wallet and then select the public address.

Source: Blockchain.com.

On the other hand, in the case of sending, we will start by selecting the Send option.

Source: Blockchain.com.

The first thing we will need is to choose the cryptocurrency to send along with the wallet from which the funds will come. After that, we will enter the public address, either by pasting it or by clicking on the QR code icon that will activate the camera of our device.

Finally, we must enter the amount to be sent, either in cryptocurrency or fiat currency, because no matter which one we enter, its equivalent will be placed in the field next to it. At the end we put the description, only if necessary, and set the mining commission. The latter applies only to bitcoin, as for other cryptocurrencies Blockchain Wallet performs the calculation internally.

Then it would be necessary to press continue to send funds, here we confirm our password and that’s it.

Sometimes we need order in our lives and we need to separate the different things we have, such as: food, rent, free time. And for that, Blockchain Wallet offers a peculiar feature that allows us to keep order with the cryptocurrencies we store in it.

I must clarify that this process is currently only available for Bitcoin. Although we can manage Bitcoin Cash and Bitcoin SV wallets.

To begin, we must first go to the Settings option, and then to Wallet and addresses.

Source: Blockchain.com.

As we can see, here we will have a default portfolio that is generated when creating our portfolio, which we can manage from the Manage option.

Source: Blockchain.com.

From here we can manage the different addresses that the selected portfolio has.. There will be unused addresses at the top, to which we can add a new one from the Add next address option. At the bottom we can see the different used addresses – they are not shown in the image – in a list along with the amount each one has.

If we go back – specifically to the penultimate image – we will see the New Wallet option from where we will create a new Bitcoin wallet inside the Blockchain Wallet.

Source: Blockchain.com.

To create it, you only need to assign a name.

Source: Blockchain.com.

With this we will see both portfolios in the list: the original one that appears as Default and the one we created later.

To manage it, the same happens as the first one, from the Manage option, we can manipulate the different addresses inside it along with the state.

A very requested option in wallets when using funds in a paper wallet is one that allows you to import or delete private keys – I’ll explain the difference between the two methods. Blockchain Wallet offers this possibility.

To begin with, we need to go to the Settings option again, and then to Wallet and addresses.

Source: Blockchain.com.

Here you will select Import Bitcoin Address.

Source: Blockchain.com.

In this small field we will have to select the origin of the address to import. If you try to import an address generated by your wallet, you will be presented with a message indicating that this operation could not be performed. On the other hand, if we choose the second option, the following will appear.

Source: Blockchain.com.

First of all, we will have to set or scan, through the webcam of our device, the private key to import or scan.

The next step is to choose whether we want to transfer funds from that private key to our wallet, or in other words, clean it. The difference between a cleanup and an import is that in a cleanup, the funds are transferred from the old address to one of the destination portfolios, allowing you to retain support through the recovery seed. On the other hand, in case we import the key as such, it will work inside the Blockchain Wallet, but there won’t be any kind of backup for it inside the platform, because it will only be responsible for managing it.

All you have to do is click import and that’s it. We have transferred or imported the private key to our Blockchain wallet.

Blockchain Wallet is a wallet for everyone, simple and easy to use. Although it can get a little cumbersome, especially if not all the options this platform offers are enabled for your country, such as exchanges or buying and selling crypto assets.

Being one of the most widely used and also one of the oldest, this wallet offers all the tools of a good wallet, although, The fact that it’s online gives me a bit of a repulsion because it completely contradicts the concept of decentralization that is so typical of bitcoin. or other cryptocurrencies.

In general, it is a good wallet, it is good, simple, you could say secure, because it offers a 2-factor authentication configuration, which is vital on any platform.

Featured image from /blockchain.com

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