Your Wallet 101

The Blockchain Wallet is a web-based cryptocurrency wallet that allows users all over the world to store and transact with cryptocurrencies for free. Our wallet is open-source (view our source code on Github here) and non-custodial. Here are a few things to know about your Blockchain Wallet before buying or receiving your first cryptocurrency.

1. The Blockchain Wallet is non-custodial.

When you sign up for a Blockchain Wallet, you’re creating an encrypted file that contains the information you will use to access your funds: your seed (backup 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. Learn more about how this works here. 

2. Your backup phrase is your safety net.

Because of the non-custodial structure of our 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 backup 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 backup phrase and how it works here.

3. You are in control.

With full and exclusive ownership of the funds you keep in your wallet, you are completely in control of how your funds are stored and used. With your 12-word backup phrase, you will always retain access to your funds even if you lose your wallet credentials, our site goes down, or Blockchain’s systems are compromised. Learn more about all the different supported cryptocurrencies and features of the wallet by exploring our Support Center.

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