Help needed with Blockchain.com, please?

Saint-loup

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Quote from: khaled0111 on July 16, 2022, 11:41:36 AM

Just few reasons why you should not use blockchain.com wallet (or any other web wallet):
Blockchain.com issue
Oops! Something went wrong while executing the BTC on-chain transaction.
Blockchain.info forgotten password
Blockchain.com - Makes things difficult to send BTC, am I the only one?
blockchain.com - options not available
Take a look at the Web Wallets sub-board and you will find many more (I picked few topics randomly from the first page!)

Since you have already imported your private keys into blockchain.com, they are no longer cold wallets! I highly recommend creating a new wallet with Electrum and sending the remain coins to it. Check this guide if you want to use Electrum as cold storage:
https://electrum.readthedocs.io/en/latest/coldstorage.html

Yes but don't forget blockchain.com is also offering earnings for holding(staking) cryptos on their rewards accounts and a pretty large exchange where you can do margin trading and selling or buying cryptos against fiat. It is not anymore the simple web wallet it used to be, and people don't use it as a simple wallet for holding or spending their funds anymore IMO.

khaled0111

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Just few reasons why you should not use blockchain.com wallet (or any other web wallet):
Blockchain.com issue
Oops! Something went wrong while executing the BTC on-chain transaction.
Blockchain.info forgotten password
Blockchain.com - Makes things difficult to send BTC, am I the only one?
blockchain.com - options not available
Take a look at the Web Wallets sub-board and you will find many more (I picked few topics randomly from the first page!)

Since you have already imported your private keys into blockchain.com, they are no longer cold wallets! I highly recommend creating a new wallet with Electrum and sending the remain coins to it. Check this guide if you want to use Electrum as cold storage:
https://electrum.readthedocs.io/en/latest/coldstorage.html

Diplester6666

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Quote from: Diplester6666 on July 16, 2022, 02:24:48 AM

You are not required to do LYC if you're only using their wallet to send/receive funds.

LYC = Lick Your Customer? Cheesy

This anti money laundering stuff is getting out of hand, man. Grin

Hahaha.... I meant KYC. Thanks, I had a good laugh. I have corrected the typo now. Cheesy

Pmalek

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There have been various cases and issues with Blockchain.com throughout the years that I don't know where to start. I wouldn't touch it with a stick, and I see no reason to use it as a wallet even for a short term when there are better alternatives out there, like the mentioned Electrum wallet. Synchronization issues, funds disappearing, deposits not showing up, are just some of the things we can expect from Blockchain.com. Spare yourself the trouble please because you can.

Diplester6666

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Quote from: Leahhhh on July 13, 2022, 02:00:24 PM

Hi, over the years I have opened various accounts with Blockchain.com ....never sold or bought via their exchange....just imported private keys/BTC from cold storage & then sent them on wherever I wanted. Today I went online and it said the verification rules had changed & I needed to verify my account, but because I have multiple accounts it wouldn't let me verify the ones I tried. Now, after reading some threads online, I think verification is only needed if you want to trade on their exchange and isn't needed for storing BTC or sending it to a third party. Does anyone know if this is correct? TIA.

You are not required to do KYC if you're only using their wallet to send/receive funds.
However it is not recommended to use an online wallet to do this, because your private key is exposed to internet and this might be susceptible to hacks. Instead I would recommend you to -
--> Download a reliable desktop wallet like Electrum
--> Import your private keys into it
--> Generate a new wallet / address
--> Transfer all funds to this new address
--> Use this Electrum wallet to do all your future transactions

Leahhhh

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I suppose you would call them brain wallets with the private keys written down. But, it's all sorted now. I was able to bring them into Blockchain.com without needing to verify my ID and move them on to where I wanted them to go. Thanks for the advice everyone!

FatFork

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Quote from: Leahhhh on July 14, 2022, 06:24:52 AM

I don't have a single penny or satoshi stored with them! I simply wanted to bring a portion of coins out of cold storage and then move them to where I want to sell them (BCBitcoin.com). I have done this numerous times before. Blockchain.com replied to me this morning and it would seem I can still do this - the verification is only needing for trading purposes, not for moving coins in or out of my private wallet. Still I am a bit wary....

I'm still confused. What do you mean by "cold storage"? Are you talking about paper wallets or something? Why on earth would anyone use the blockchain.com to import those wallets? This is probably the least secure method you could choose.

Don't play around with your money, or you might lose it, and start using proper wallets to keep it safe.

Leahhhh

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Quote from: m2017 on July 14, 2022, 04:34:07 AM

Quote from: Leahhhh on July 13, 2022, 02:00:24 PM

Hi, over the years I have opened various accounts with Blockchain.com ....never sold or bought via their exchange....just imported private keys/BTC from cold storage & then sent them on wherever I wanted. Today I went online and it said the verification rules had changed & I needed to verify my account, but because I have multiple accounts it wouldn't let me verify the ones I tried. Now, after reading some threads online, I think verification is only needed if you want to trade on their exchange and isn't needed for storing BTC or sending it to a third party. Does anyone know if this is correct? TIA.

A great example of how any third party with access to your cryptocurrency can change the terms at any time and make it harder for you to own your money. Therefore, storing bitcoin/crypto on custodial wallets is fraught with such unpleasant surprises.

Why did you use blockchain.com to import your private keys/BTC when there is electrum wallet? With electrum, such excesses are excluded.

I don't have a single penny or satoshi stored with them! I simply wanted to bring a portion of coins out of cold storage and then move them to where I want to sell them (BCBitcoin.com). I have done this numerous times before. Blockchain.com replied to me this morning and it would seem I can still do this - the verification is only needing for trading purposes, not for moving coins in or out of my private wallet. Still I am a bit wary....

OcTradism

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Quote from: Leahhhh on July 13, 2022, 02:00:24 PM

Today I went online and it said the verification rules had changed & I needed to verify my account, but because I have multiple accounts it wouldn't let me verify the ones I tried.

If you have multiple accounts and your coins in those wallets, you should withdraw them to your own wallets.

What are your own wallets? Wallets are non custodial and you have private keys. You own keys so you own your coins. You don't have to do KYC to own your coins, to broadcast your transactions.

Electrum wallet is easy to use: https://electrum.org/#home
Verify Electrum wallet: https://bitcointalksearch.org/topic/m.54223763

m2017

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Quote from: Leahhhh on July 13, 2022, 02:00:24 PM

Hi, over the years I have opened various accounts with Blockchain.com ....never sold or bought via their exchange....just imported private keys/BTC from cold storage & then sent them on wherever I wanted. Today I went online and it said the verification rules had changed & I needed to verify my account, but because I have multiple accounts it wouldn't let me verify the ones I tried. Now, after reading some threads online, I think verification is only needed if you want to trade on their exchange and isn't needed for storing BTC or sending it to a third party. Does anyone know if this is correct? TIA.

A great example of how any third party with access to your cryptocurrency can change the terms at any time and make it harder for you to own your money. Therefore, storing bitcoin/crypto on custodial wallets is fraught with such unpleasant surprises.

Why did you use blockchain.com to import your private keys/BTC when there is electrum wallet? With electrum, such excesses are excluded.

FatFork

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Quote from: Leahhhh on July 13, 2022, 02:33:49 PM

I haven't imported them yet, I want to do it now and then send them on elsewhere.

There are some mixed signals here. In your first post, you said: "just imported private keys/BTC from cold storage & then sent them wherever I wanted".
It would be best if you were more specific about what you want to accomplish and how we can help.

Quote from: Leahhhh on July 13, 2022, 02:33:49 PM

I have messaged their customer support team (dear knows when I'll get a reply, if ever Lips sealed

).

Not sure what you expect from their customer support. They do not have access to your wallets and will not let you verify more than one account with the same identity.

NeuroticFish

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Quote from: Leahhhh on July 13, 2022, 04:46:09 PM

Thank you. I'll have a look at Web Wallets. How do I move it to Web Wallets? ...I am terrified of moving the BTC in and then not being able to move them or get them out again.

It's not the Bitcoin that has to be moved to web wallets. It's this topic that should be moved. See bottom-left link "Move topic".

As said, your bitcoin should be used with a better wallet, like Electrum (just make sure you download it from https://electrum.org and verify it)
If you have the private keys it may go easy, you just restore your wallets directly in Electrum and no need to ever touch blockchain.com again.
(I didn't understand what is the "cold storage" you think you're using and where you get the private keys from, so maybe I've got part of my answer wrong).
Make sure your computer doesn't have viruses.

Also, if the amounts of money there are significant, consider buying a hardware wallet, generate a new wallet on that one and transfer your funds there.
And if you have questions, ask here, one by one, until everything is cristal clear.

Leahhhh

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Thank you. I'll have a look at Web Wallets. How do I move it to Web Wallets? ...I am terrified of moving the BTC in and then not being able to move them or get them out again.

passwordnow

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IIRC, even if you're not going to trade there and you're just going to use them as a wallet they'll still require you. I have a wallet there before and was asked for the verification and I didn't pursue it.

Quote from: Leahhhh on July 13, 2022, 02:33:49 PM

I haven't imported them yet, I want to do it now and then send them on elsewhere. I have messaged their customer support team (dear knows when I'll get a reply, if ever Lips sealed

).

Aside from electrum, wasabi and samourai wallet are also good desktop wallets of choice. Also, this topic belongs to Web Wallets.

Charles-Tim

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Quote from: Leahhhh on July 13, 2022, 02:33:49 PM

I haven't imported them yet, I want to do it now and then send them on elsewhere. I have messaged their customer support team (dear knows when I'll get a reply, if ever Lips sealed

).

I will recommend Electrum. Download it from https://electrum.org. You can verify its signature as well.

Leahhhh

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I haven't imported them yet, I want to do it now and then send them on elsewhere. I have messaged their customer support team (dear knows when I'll get a reply, if ever Lips sealed

).

hugeblack

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Quote from: Leahhhh on July 13, 2022, 02:00:24 PM

after reading some threads online, I think verification is only needed if you want to trade on their exchange and isn't needed for storing BTC or sending it to a third party. Does anyone know if this is correct? TIA.

If you have imported private keys/BTC from cold storage then you can still spend those coins without having to return to Blockchain.com account or access to it as long as you still have that key and there are still some coins in that address.

and Yes, you dont need to pass KYC if you want to use Blockchain.com account or recover it.

Charles-Tim

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Quote from: Leahhhh on July 13, 2022, 02:00:24 PM

Now, after reading some threads online, I think verification is only needed if you want to trade on their exchange and isn't needed for storing BTC or sending it to a third party.

Yes.

Quote from: https://support.blockchain.com/hc/en-us/articles/4538509612572-Common-questions-about-our-updated-verification-requirements

For increased order limits in the Blockchain.com Wallet, as well as the ability to place card orders or deposit funds from a bank account, a Verified account is required. A Verified account is also required in order to use the Blockchain.com Exchange.

But I will not recommend blockchain wallet due to many reasons, going for better onces like Electrum is a good option. Email is not required if a wallet is truly noncustodial.

Leahhhh

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Hi, over the years I have opened various accounts with Blockchain.com ....never sold or bought via their exchange....just imported private keys/BTC from cold storage & then sent them on wherever I wanted. Today I went online and it said the verification rules had changed & I needed to verify my account, but because I have multiple accounts it wouldn't let me verify the ones I tried. Now, after reading some threads online, I think verification is only needed if you want to trade on their exchange and isn't needed for storing BTC or sending it to a third party. Does anyone know if this is correct? TIA.

Topic: Help needed with Blockchain.com, please? (Read 245 times)