Question About Using Blockchain.com Website

bL4nkcode

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Quote from: proscratcher on September 03, 2020, 12:45:44 AM

What are your experiences in using electrum?

Never had experienced any kind of bad experience using electrum, but you should be wary of things when using it to your personal computer. Lots of users got hacked from using electrum because of downloading fake and outdated versions of it, just recently a guy got hacked with 1k+ BTC because of the outdated version installed. So make sure you download it from electrum.org, verify its signature, and keep your device malware free.

Quote from: proscratcher on September 03, 2020, 12:45:44 AM

I didn't know a lot of users are having issue with blockchain. It seems like a good service for me in the first place.

If you will check threads on this board, you will see that most of them have worst experience with blockchain.com

hosseinimr93

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Quote from: sheenshane on September 04, 2020, 06:26:13 PM

.....but I stop using Blockchain year had passed when they implement KCY verification.

As far as I know, KYC is not required for using blockchain wallet. Users have to pass KYC only for using their exchange. (Someone correct me if I am wrong.)

Anyway, due to not being open-source, their control over seeds and private keys, their weak support, their vulnerability to hack, etc. I agree with you on not using blockchain wallet.

sheenshane

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Quote from: The Cryptovator on September 04, 2020, 12:43:38 PM

Web wallets aren't safe much,

AFAIK, there is one web wallet that considered as safe as of now. That is the Magnum wallet that you have full control under your key.

Quote from: proscratcher on September 03, 2020, 12:45:44 AM

What are your experiences in using electrum? I didn't know a lot of users are having issue with blockchain.

Both Blockchain.com and Electrum wallets I have used before, I didn't encounter a problem so far but I stop using Blockchain year had passed when they implement KCY verification. Until now I'm still using Electrum because I like the feature on it like signing message as a proof of ownership of the coin you have stored. The comment above of mine was right, it is a fully open-sourced wallet that you have your own private key and password. You can use this either on a mobile app or desktop app.

If you want to learn more about this Electrum wallet, head up to this section. Wallet software > Electrum, there's a lot of good discussions there that you might learn about electrum usage and the new feature of Lightning Network.

The Cryptovator

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Quote from: proscratcher on September 03, 2020, 12:45:44 AM

What are your experiences in using electrum? I didn't know a lot of users are having issues with blockchain. It seems like a good service for me in the first place.

If you ask about Electrum then everyone will suggest using it including me. It's a noncustodial open-source SPV wallet where everything will be under the control of you. There isn't required any KYC like blockchain. Web wallets aren't safe much, so I will not encourage you to use it if you are going to store a large amount of bitcoin. A hardware wallet is better if you can afford, if not then you may proceed with Electrum.

Anyway, whatever wallet you are using, always make backup and write down seed phrases to recover your funds in case if you encounter any problems. Always seek for original website from where you are downloading software for your wallet.

Danslip

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Quote from: hosseinimr93 on September 03, 2020, 06:56:09 AM

Quote from: proscratcher on September 03, 2020, 12:45:44 AM

I didn't know a lot of users are having issue with blockchain. It seems like a good service for me in the first place.

As already stated in previous posts there have been many reports in the forum regarding issues with blockchain wallet.

It's true that most of the people are using blockchain wallet with no problem. But this doesn't mean that blockchain wallet is safe.
In blockchain wallet, you are not the only owner of your seed and your private keys and they have access to your private keys. Your fund would be safe only if you are the only owner of your private keys. Even if they claim that they have no access to your keys, since their wallet is not open-source, we cannot believe that.

Even many web wallets are not fully open-source, there are some tricks played for marketing purposes. Regarding the Blockchain wallet KYC requirement, it is mandatory if the user has the intention to participated in inside wallet airdrops or want to connect the same wallet with PIT exchange(owned by the same company), AFAIK.

hosseinimr93

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Quote from: proscratcher on September 03, 2020, 12:45:44 AM

I didn't know a lot of users are having issue with blockchain. It seems like a good service for me in the first place.

As already stated in previous posts there have been many reports in the forum regarding issues with blockchain wallet.

It's true that most of the people are using blockchain wallet with no problem. But this doesn't mean that blockchain wallet is safe.
In blockchain wallet, you are not the only owner of your seed and your private keys and they have access to your private keys. Your fund would be safe only if you are the only owner of your private keys. Even if they claim that they have no access to your keys, since their wallet is not open-source, we cannot believe that.

sunsilk

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Quote from: proscratcher on September 03, 2020, 12:45:44 AM

Thanks for your recommendation. What are your experiences in using electrum?

Electrum is the most common bitcoin wallet, no worries about using it as it's one of the oldest bitcoin wallets ever existed. Check the official website and be mindful of downloading the wallet because the older versions are prone to hackers.

The official website gives a reminder of which version you shall not download.

Quote from: proscratcher on September 03, 2020, 12:45:44 AM

I didn't know a lot of users are having issue with blockchain. It seems like a good service for me in the first place.

It seems at it is but just look at this section and see how many threads were made for blockchain.com containing the problems of the users gone through.

proscratcher

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Quote from: JeromeTash on September 02, 2020, 12:38:09 PM

Quote from: proscratcher on September 02, 2020, 01:43:40 AM

The purpose of me using the blockchain wallet is to receive funds. Yes, for holding funds.

Use a much better software wallet like electrum (https://electrum.org) where you have full control of your private keys or seed phrase and therefore, full control of your account, and you don't have to log in like the blockchain web wallet.

Sometimes the Log in authentication emails never arrive in your mailbox making it unable to access your account. Just look at the complaints in this board and see the pain a lot of blockchain.com users go through
1. Blockchain.com wallet issue
2. Problem with my Blockchain New
3. Blockchain.info Wallet I.D
4. Disabling Email Authorization for a blockchain account
5. blockchain.com - new scam - holding bitcoins for 7 days

Thanks for your recommendation. What are your experiences in using electrum? I didn't know a lot of users are having issue with blockchain. It seems like a good service for me in the first place.

JeromeTash

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Quote from: proscratcher on September 02, 2020, 01:43:40 AM

The purpose of me using the blockchain wallet is to receive funds. Yes, for holding funds.

Use a much better software wallet like electrum (https://electrum.org) where you have full control of your private keys or seed phrase and therefore, full control of your account, and you don't have to log in like the blockchain web wallet.

Sometimes the Log in authentication emails never arrive in your mailbox making it unable to access your account. Just look at the complaints in this board and see the pain a lot of blockchain.com users go through
1. Blockchain.com wallet issue
2. Problem with my Blockchain New
3. Blockchain.info Wallet I.D
4. Disabling Email Authorization for a blockchain account
5. blockchain.com - new scam - holding bitcoins for 7 days

proscratcher

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Quote from: BitMaxz on September 01, 2020, 12:30:52 PM

Quote from: proscratcher on September 01, 2020, 07:58:57 AM

~snip~

I suggest you back up the private key of the previous address you use for the safety of your funds.

Try to check the "Wallets & Addresses" then "Manage" after that look for "Show" then it must be shown all used address you use recently and try to check if there is an option that you can export the old address.
If there's no option well, I suggest you better use other wallets instead where you can backup the private key because if Blockchain is changing again just like before the same what happens to me I can't able to remember and recover my old address where some of my funds are there.

Can I ask something? What do you plan/purpose on using blockchain wallet? Is it for holding funds or use it as an exchange?

I have tried your advice and I found my unused BTC addresses and the used addresses.

This is good to know.

The purpose of me using the blockchain wallet is to receive funds. Yes, for holding funds.

nc50lc

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Quote from: BitMaxz on September 01, 2020, 12:30:52 PM

Quote from: proscratcher on September 01, 2020, 07:58:57 AM

~snip~

I suggest you back up the private key of the previous address you use for the safety of your funds.

There no option to get the individual addresses' private keys, the old version and old addresses in the "archived" does (if wallet is from <2016/2017).

@proscratcher If you just recently created the wallet, the "Backup Phrase" below the "Security" window is the one you need to write in a piece of paper.
You can also use it to restore your wallet or create a copy to another client (eg. Electrum) if you decided to use your funds somewhere else.

And I forgot to give you a privacy warning about reusing addresses,
but you can read the details about it in the same link that I've pointed you after clicking 'show' in the used addresses.

BitMaxz

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Quote from: proscratcher on September 01, 2020, 07:58:57 AM

~snip~

I suggest you back up the private key of the previous address you use for the safety of your funds.

Try to check the "Wallets & Addresses" then "Manage" after that look for "Show" then it must be shown all used address you use recently and try to check if there is an option that you can export the old address.
If there's no option well, I suggest you better use other wallets instead where you can backup the private key because if Blockchain is changing again just like before the same what happens to me I can't able to remember and recover my old address where some of my funds are there.

Can I ask something? What do you plan/purpose on using blockchain wallet? Is it for holding funds or use it as an exchange?

proscratcher

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Thank you for moving this thread on the right section which is Marketplace > Service Discussion > Web Wallets - I'm pretty new that's why I placed in the wrong section.

crwth

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I understand how in the back of your mind, there's still an uneasy feeling with re-using the previous address just because it doesn't show anymore on the website. One thing you could do, if you want to be sure of is that you can send a small amount to the BTC address and see if it comes through. For sure, it will, but at least in your mind, it will be at peace.

Maybe you would get interested in generating your wallet by buying a hardware wallet in the future for better security and control as well.

proscratcher

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Quote from: nc50lc on September 01, 2020, 04:55:10 AM

Quote from: proscratcher on September 01, 2020, 04:39:18 AM

Now if I want to use the same BTC address, I have nothing to worry about if it will get lost.

In case you want to double-check those previously used addresses,
you can find them in: Settings icon (upper-right)->Wallets & Addresses->Click "Manage" at the right of your Bitcoin wallet name.

This may be moved by a mod to "Service Discussion->Web wallets" board.

Sounds good. I will give it a try to see my used BTC address. Thank for the info..

nc50lc

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Quote from: proscratcher on September 01, 2020, 04:39:18 AM

Now if I want to use the same BTC address, I have nothing to worry about if it will get lost.

In case you want to double-check those previously used addresses,
you can find them in: Settings icon (upper-right)->Wallets & Addresses->Click "Manage" at the right of your Bitcoin wallet name.

This may be moved by a mod to "Service Discussion->Web wallets" board.

proscratcher

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Thanks guys, I was thinking that it will get lost because it was not sent to the latest BTC address.

Wrong information that was planted in me.

Now if I want to use the same BTC address, I have nothing to worry about if it will get lost.

Upgrade00

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Quote from: proscratcher on September 01, 2020, 04:27:44 AM

My question is, what if I'm going to use the first BTC address that was generated in the first place to receive funds again?

Am I still going to receive the funds?

Yes, you would still receive the coins into your address. Multiple wallet addresses is a feature that is used by HD wallets to improve privacy, so you have several public addresses linked to a single xpub ~ extended public key and xpriv ~ extended private key. Think of them as a master public and private keys which controls the multiple addresses in the wallet.
After each transaction the used address is automatically changed to a different one.

AB de Royse777

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Quote from: mocacinno on September 01, 2020, 04:29:13 AM

yes

Because ultimately that address was generated from the same seed that is yours, @OP

Quote from: proscratcher on September 01, 2020, 04:27:44 AM

Note: If this is in the wrong section please let me know how where to put it.

I do not think you are in the wrong section although it's related to know something about a wallet feature.

mocacinno

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Quote from: proscratcher on September 01, 2020, 04:27:44 AM

Hi folks,

When you click on the "Request" button on blockchain.com website, it will give you a BTC address.

Now, for example, you have received funds from the first BTC address.

If I click on "Request" again, it will give you a second BTC address.

My question is, what if I'm going to use the first BTC address that was generated in the first place to receive funds again?

Am I still going to receive the funds?

--snip--

yes you can re-use the address, it's not ideal privacy-wise, but there's no technical problem when doing this.

Topic: Question About Using Blockchain.com Website (Read 232 times)