Blockchain.com provides margin trading on 8 various pairs with a 5x leverage and a 0.02% fee.
The commission in the spot markets ranges from 0 to 0.4%, varying based on the 30-day trading volume.
Blockchain.com Information + Regulation
Blockchain.com was founded in 2011 by Benjamin Reeves, Mohd Fairuz Razi bin Sharuddin, Nicolas Cary, and Peter Smith, when it launched as a blockchain explorer in London, United Kingdom.
In 2019, the exchange started operating and, since then, it has evolved into a multifaceted crypto platform, offering wallet services, an exchange, and institutional trading solutions.
Key points about Blockchain.com:
- Over 37 million registered users
- 30% of bitcoin network transactions are via the platform
- +89M wallets created
The company is headquartered at Tallis House, 2 Tallis Street, London, United Kingdom, EC4Y 0AB.
Blockchain.com Exchange Summary Of Key Features
This platform offers a set of unique and common specifics similar to other crypto exchanges:
Exchange | Blockchain.com |
Launch Date | 2019 |
Levels | Unverified, Full Access Verified |
Trading Fees | 0-0.4% for Spot Maker 0.06-0.45% for Spot Taker 0.02% for Margin Trading |
Restricted Countries | China, Iran, North Korea, Cuba, Syria, Russia, Afghanistan, Pakistan, And More |
Supported Coins | +20 |
Futures Trading | Yes |
Minimum Deposit | $1 |
Deposit Methods | Bank Transfers, Crypto |
Withdrawal Methods | Bank Transfers, Crypto |
Maximum Leverage | 5x |
Minimum Trade Amount | Variable |
Security Factors | Multi-Layered Security |
Services | Margin Trading, Wallet, Blockchain Explorer |
Customer Support Ways | Live Chat, Ticket, Phone Call, Email |
Customer Support Hours | 24/7 |
Fiat Deposit | Yes |
Affiliate Program | Yes |
Orders Execution | N/A |
Native Token | None |
Significant Advantages and Critical Disadvantages
To provide a balanced view, let's examine the pros and cons of using Blockchain.com platform:
Advantages | Disadvantages |
Established Reputation in the Crypto Industry | Limited Range of Available Cryptocurrencies |
24/7 Support | Limited List of Margin Trading Pairs |
Access to Blockchain Data | - |
User Tiers Structure
Blockchain.com does not employ a complex system with several levels for users. Instead, there are only 2 levels: Unverified, Full Access Verified.
For accessing almost all features and options on the platform, you need to be completely verified.
Trading Commissions and Other Costs in Blockchain.com
The exchange utilizes a maker-taker fee model, with fees decreasing as the 30-day trading volume increases. Here's a comprehensive overview of the fee structure in the form of a table:
Tier | 30D Trading Volume | Maker Fee | Taker Fee |
Tier 1 | $0 | 0.4% | 0.45% |
Tier 2 | $10,000+ | 0.17% | 0.35% |
Tier 3 | $50,000+ | 0.15% | 0.18% |
Tier 4 | $100,000+ | 0.08% | 0.18% |
Tier 5 | $500,000+ | 0.07% | 0.18% |
Tier 6 | $1,000,000+ | 0.06% | 0.18% |
Tier 7 | $2,500,000+ | 0.05% | 0.18% |
Tier 8 | $5,000,000+ | 0.04% | 0.16% |
Tier 9 | $25,000,000+ | 0.03% | 0.14% |
Tier 10 | $100,000,000+ | 0.02% | 0.11% |
Tier 11 | $500,000,000+ | 0.01% | 0.08% |
Tier 12 | $1,000,000,000+ | 0% | 0.06% |
Regarding margin options, the fee is 0.02% for trading; it is the same amount for the recurring in 4-hour periods. To estimate a trade's porfitability considering commissions, use a crypto profit calculator.
Regarding deposits, there are no commissions of any kind. However, a fee applies for fiat withdrawals:
- Wire: $10
- SEPA: 0.5 EUR
- Open Banking: 0.5 GBP
- Faster Payments: £0.50
Other methods incur no charges. Also, crypto withdrawals charges users with a certain amount of network commission, varying based on the blockchain used.
Tradable Coins and Tokens
Blockchain.com offers a limited range of over 20 cryptocurrencies for trading against various currencies, such as USD, EUR, BTC, USDT, and so on. The offered coins/tokens include:
- Bitcoin [BTC]
- Ethereum [ETH]
- Basic Attention Token [BAT]
- ApeCoin [APE]
- Curve [CTV]
- Stellar [XLM]
- Dai [DAI]
- Aave [AAVE]
- Chainlink [LINK]
- Uniswap [UNI]
Margin Trading on Blockchain.com
The exchange provides access to margin trading on 8 crypto pairs:
- BTC-USD
- BTC-USDT
- ETH-USD
- ETH-USDT
- DOT-USD
- LTC-USD
- BCH-USD
- XLM-USD
Currently, the company offers a 5x leverage for these symbols.
Registration And Verification Tutorial
The registration process on Blockchain.com is designed to be straightforward and simple. Here's a short but helpful step-by-step guide:
- Visit the website and click on "Sign Up";
- In the registration form, fill in your valid email address and set a complex password;
- Confirm the statement under the form;
- Choose your country of residence in the next page and enter a referral code if you have any;
- Check your inbox and click on the verification link.
You have successfully created your account on the exchange. For verification, you will need to provide these information and documents:
- Birthdate
- Full name
- Residence location address
- A government-issued ID
Blockchain.com Exchange Platforms And Applications
The company utilizes a proprietary trading platform designed to offer a convenient trading experience for users. It offers all the essential features, such as various order types, order book, chart with technical tools, and more. The terminal is available via:
- Android (Currently unavailable)
- iOS (Unavailable at the time of writing)
- Web
Safety Measures and Security Factors
Blockchain.com is not one of those crypto trading platforms with lots of information and data about their security measures.
The only point mentioned on the website is the "multi-layered security", ensuring the security of funds.
What Payment Options Are Offered by Blockchain.com?
The platform supports 6 funding methods for deposits and withdrawals:
- ACH
- Wire
- SEPA
- Open Banking
- Faster Payments
- Cryptocurrency transactions
Note that ACH is only available for US residents. Also, "Faster Payments" option is exclusive to users from the UK.
Trust Scores
Trustpilot, REIVEWS.io, and CoinGecko are three reputable sources for evaluating the trust scores of an exchange. These ratings for Blockchain.com present a mixed picture:
- Trustpilot: 1.3/5 (based on over 6,300 reviews)
- io: 2.4/5, with +170 ratings
- CoinGecko: 6/10
- ScamAdviser: 100/100 Trustscore, 1.3/5 user reviews
These scores indicate that user experiences with the platform have been varied, but the scores given based on algorithms are higher-than-average.
Customer Service Contact Channels and Schedule
Blockchain.com company offers 4 options for getting help from the support department:
- Email: support@blockchain.com
- Ticket System: Via the website
- Live chat: Accessible on the site
- Phone Call: 1-888-552-1019
Based on the available data on the website, this company offers its support services 24/7.
Copy Trading And Passive Income Options
At the time of writing this article, Blockchain.com provides one option for earning passive profits, which is Staking.
This service is offered in 3 different ways for users with different experience levels. The annual rate varies, going up to 10%.
Blockchain.com Banned Regions
The mentioned exchange is available in many countries worldwide, but there are some restrictions. While the exact list of restricted countries may change, currently, the platform is not available in:
- China
- Iran
- North Korea
- Cuba
- Syria
- Russia
- Afghanistan
- Pakistan
Note that this list does not include all of the banned regions.
Writer's Opinion And Conclusion
Blockchain.com has received a 1.3/5 average score on the Trustpilot website from over 6,300 users.
The rating on REVIEWS.io is a bit higher at 2.4/5, based on +170 reviews. CoinGecko and ScamAdviser websites have given 6/10 and 100/100 trust scores to the exchange, respectively.