Information on the differences between the DeFi Wallet and Blockchain.com Account can also be found here.
The Blockchain.com is a web-based cryptocurrency wallet that allows users all over the world to store and transact with cryptocurrencies for free. Our DeFi Wallet is open-source (view our source code on Github here) and non-custodial. Here are a few things to know about your Blockchain.com before buying or receiving your first cryptocurrency.
DeFi Wallet: one of the most powerful tools in crypto
When you sign up for Blockchain.com, you’re creating an encrypted file that contains the information you will use to access your funds: your seed (Secret Private Key Recovery Phrase), private keys, and cryptocurrency addresses. The file is encrypted with your password, which we never store or have access to.
As long as you keep your password and private keys secure, only you can ever access your wallet and funds. Our mission is to empower every one of our users to Be Their Own Bank.
You are in control
While your Blockchain.com Account and Rewards Accounts are custodial, meaning that Blockchain.com securely store the private keys for you, the DeFi Wallet is non-custodial, meaning you own your private keys and funds at all times. This is the definition of "Your keys - your crypto."
With full and exclusive ownership of the funds you keep in your DeFi Wallet, you are completely in control of how your funds are stored and used.
With your 12-word Recovery Phrase, you will always retain access to your funds even if you lose your wallet credentials, our site goes down, or Blockchain.com’s systems are compromised. Learn more about all the different supported cryptocurrencies and features of the wallet by exploring our Support Center.
Secret Private Key Recovery Phrase = your safety net
Because of the non-custodial structure of our DeFi Wallet and because we never store or have access to your password, we are not able to recover or reset passwords. If you lose your password, we cannot help you regain access to your wallet. That’s what your Secret Private Key Recovery Phrase is for: you can use it to restore access to your funds at any time, even if you lose your password. Learn more about the recovery process here.