Topic: Blockchain.com experience and issues? (Read 343 times)

In your words, you have seen your balance on blockchain.com wallet but now balance 0. Probably you saved your keys in an area where someone saw and stole your funds using that key. You have to safe in a safer place and should use 2fa code both email and mobile for safety. Or, you have sent in a wrong wallet with unconsciousness as you are new.

Look in the transaction history of your wallet address

I have also experienced problems with the blockchain, sending support will take a very long time to reply, it can take months

I think even if support replies to your ticket, they won't be able to help if your Bitcoin is sent out by someone

Hey, I also make use of Blockchain mobile wallet and I have been using it from 2017 to now, and I have not had any single issues with them that will lead to having to contact their support, and I don't hope to have such a problem. But, have you checked your wallet Activities?

When you open the Blockchain mobile wallet, below where there is a Home button and others, you will see where it's written Activities, click on it and you will see all the activities of your wallet, that's if you have not checked that yet. After you have seen it, check for the transaction you're referring to (I believe that's the only activity that you have done), and if it's there, click on it and you will be able to figure out the problem to an extent, maybe see whether the problem is due to confirmation.

Because, I can remember that someone once sent money to my Blockchain wallet and the confirmation fee they paid wasn't enough and the money disappeared, they had to add more money to the fees and within a few minutes it reappeared in my wallet.

I’ve had an account there too for years, and I’ve never had any problems. Although blockchain.com (before .info) has a long history of bad experiences, some of them are partly the result of some users making mistakes themselves. If you are not aware of what phishing is, or how important it is to make a backup - in that case every online wallet poses the same risk.

However, from everything I've read on the forum over the years, it seems that this wallet also has serious internal vulnerabilities, especially when it comes to their official mobile application, especially iOS.

Using online wallets as cryptocurrency storage is definitely an illogical move, except that it is of course risky. Bitcoin is at its core decentralized, but millions of users keep them in crypto banks, which is definitely wrong. They actually have nothing but trust in completely unknown subjects who can raise the anchor at any moment and disappear without a trace.

So, because you have used blockchain.com for a while and didn't suffer any loss, you are comfortable endorsing it...
Blockchain.com stores your wallet on their servers (they claim it's encrypted, but you never know). Blockchain users have fallen victim to phising scams. Blockchain users are vulnerable to malicious browser plugins. Blockchain is known for bugs (some critical, some annoying). Blockchain support is slow and usually not really helpfull.

My dad used to smoke and work with asbestos on a daily basis for 45 years, and he still doesn't have lung cancer (i really hope he stays safe tough...), maybe it's time for him to start declaring that smoking is safe and asbestos is not dangerous either?

I use a blockchain.com for a long time and I think that it is a good and compfortable in usage wallet. It is safe.

Completely correct
About step 5: do realise there is hardly no upside to storing funds in a "normal" electrum wallet... Some people (including myself) do use electrum together with their hardware wallet, since the gui offered by most hw wallet vendors has a feature set that is inferior to electrum... But a "plain" electrum wallet only has one upside: it can be used if you don't have your hardware wallet at hand... But that's about it.

About the exchange, i used binance one or two times in the past and i was happy with them... I've used Litebit aswell (once), but their fees were on the high side.
I'm not a frequent trader tough, so maybe somebody else will give you better advice.

So my steps were as follows:

1. I set up a new wallet on my Ledger S.
2. I recovered my Blockchain.com wallet in Electrum with the seed
3. I then transferred the recovered coins from Electrum to the new wallet on my Ledger S.
4.  All my coins are now in my Ledger S and I no longer plan to ever use Blockchain.com again!
5.  If I decide to store additional coins on Electrum then I understand that I need to generate a new wallet.

Am I good?

In terms of an exchange to buy/sell coins in the future. Would everyone recommend CEX? It seems like a good platform in my experience so far.  If there is another one that is better (by 'better' in my instance I would value user interface, speed, fees and simplicity, mobile add etc)

Yes. There have been countless reports of problems and issues with blockchain.com. They've had poor security and technical practices in the past, which has resulted in losses of hundreds of bitcoin. Accounts are frequently hacked and their customer support is non existent. You are simply lucky that none of these issues have affected you yet.

Yes. New versions of Electrum do not allow arbitrary text to be shown in pop ups. As long as you only ever download from electrum.org and verify your download prior to installing, it is quite safe.

If you have restored the wallet on Electrum by entering the seed phrase in to Electrum, then your Ledger Nano S is irrelevant. If you want to use your Ledger Nano S in this set up, then the seed phrase needs to be entered on the hardware device itself, not on the software interface. Also, your coins (or more accurately, your keys) are not offline. They are duplicated from your blockchain.com wallet, which is still online.

Having said that, the two posters above are correct. Since your seed phrase was generated by a third party and is still stored on their servers, it will forever be insecure, regardless of whether you enter it in to a hardware wallet. Create a new wallet from scratch, back up your new seed phrase on paper, and send all your coins to it.

Restoring the seed in Electrum doesn't make your wallet safer neither is electrum a cold storage solution (stored offline). That seed is compromised as it was generated in Blockchain.com wallet, a very unsafe wallet.

You should transfer from electrum to your wallet generated with ledger nano S.

If you don't have any pending transactions on your current wallet, you should move all your funds to a new wallet that is created from Electrum wallet. Creating a new wallet offline.

You successfully imported your wallet with seeds that you created with blockchain.com but let migrate your funds to a new one. Don't rely on the current wallet.

It is your key you create offline, it is your own bank. Choose the right time with low fees to migrate your funds if you are care about fee. If you are not care about fee, migrate your fund ASAP.

Yes thanks again.  I have a Ledger S set up and am now storing my coins offline.  In summary for anyone stumbling across this thread

1. The problem arose due to technical issues with Blockchain.com wallet which meant my coins were not showing
2. The problem was further compounded by absent customer service on the platform
3. The solution was to use the seed to restore the wallet on another platform in this case - Electrum
4. All coins are now stored offline.

Well that seems like you have restored your coins successfully. If so, congrats!
Also I would like to say that never use any web wallets. You could instead use mobile wallets which provide the private key or the seed phrase.
This way you are eligible to control your funds in the wallet.
Also, beware of phishing attacks and copy-paste programs that steal your funds from your wallet.
Browse this forum and you will get immense knowledge of what bitcoin is and what are the do's and dont's before you start anything.

You shoulkd just recover your wallet using the Seed in a good wallet such as electrum.org

This would solve your issue and you will be using a much safer wallet.

Consider buying a hardware wallet in the future and transferring your coins there.

Does constant phishing incidents in 2018 come from Electrum? I don't know what happened in 2018 with Electrum but phishing is always here and there and it is why we must verify wallet before using it. People who don't verify wallets will be phished sometime.
I decide to use non-custodial wallets on my computer. If you know steps to move from blockchain.com to Electrum, you should use Electrum at start.
Custodial vs. Non Custodial Wallets - "Not your keys, not your coin" Explained.
[General] Bitcoin Wallets - Which, what, why?

Frankly, all these blockchain.com stories scare me. It's one of the wallets I have come to trust and to think that it could be unsecured makes me vulnerable to hackers. But I haven't had any issues since I started using it three years now. Am I just being lucky or what?


I stopped using the Electrum wallet in 2018 when it had that constant phishing incidents. Has that been resolved now?

No problem... I really hope you stick around.

By the way, a quick google turned up this link:
blog.blockonomics.co/how-to-restore-blockchain-com-wallet-into-electrum-f593ec79ab3d?gi=ed73891cfd60
I can't really endorse it, since i haven't tried the steps myself... But a quick browse doesn't show any malicious steps, so worst case scenario it just doesn't work (no harm done).

don't forget: download electrum from it's OFFICIAL repo, check the signature, encrypt your wallet and make sure your computer is clean.
Being your own bank is hard work

Excellent! Thank you all for turning around a pretty negative experience to a positive one.

James.

[GUIDE] How to Safely Download and Verify Electrum [Guide]

It takes a few minutes to safely download and install GPG, download and verify Electrum wallet.

Yup... To be honest, a lot of centralised services (like exchanges) are known to have sloooooow support. Blockchain is not an exception.

My next step would probably be to download electrum from it's official repo, check the signature (ThomasV signs his builds), the import your seed into electrum (there are some caveat's when you try to do this tough. But since i don't have a blockchain seed at hand, i'm not able to write down the complete procedure for you).
Once your unspent outputs are visible within electrum, i'd probably empty out my wallet by moving all funds onto your ledger... Really, there is no need to use a web wallet if you own a hardware wallet. I only use a mobile wallet when i go out to a place that has a high chance of accepting bitcoin as payment, the rest of my funds are always safe on my hardware wallets.