At Blockchain.com, we offer two powerful options for managing your cryptocurrency: the DeFi Wallet and the Blockchain.com Account. While both serve important functions, they have distinct characteristics and benefits tailored to different user preferences.
Your DeFi Wallet is non-custodial, meaning that you retain full and sole control of your funds and Blockchain.com does not have any access to it. When you create a DeFi Wallet, you generate an encrypted file containing vital information like your seed phrase (12-word recovery phrase or backup phrase), private keys, and cryptocurrency addresses. This file is encrypted with your password, which we never store or have access to. By keeping your password and private keys secure, you have full control and sole ownership of your non-custodial balance.
Besides, your DeFi Wallet also support Polygon network, allowing you to transact faster with lower fees. We are also actively working on adding support for more networks in the future, expanding your options for managing your crypto assets.
With a new Blockchain.com DEX, you can swap thousands of tokens on the Ethereum and Polygon blockchains right from your Blockchain.com DeFi Wallet and without ever giving up control of your crypto.
Your Blockchain.com Account offers a custodial balance, where we securely store your funds. Unlike the DeFi Wallet, your Blockchain.com Account is associated with your verified identity profile, and your balance is not backed up by the 12-word recovery phrase. In the event of lost password, recovery phrase or other access issues, you will still be able to recover your Blockchain.com Account balance.
Your Blockchain.com Account supports a broader range of cryptocurrencies, including popular options like TRX (Tron), SOL (Solana) and other major cryptocurrencies. With a Blockchain.com Account, you can easily send, receive and store your crypto, sell it for fiat, buy more crypto via bank transfers, cards, Google Pay or Apple Pay, earn rewards on your crypto, withdraw fiat to your bank account and enjoy seamless swap orders between different cryptocurrencies within your Blockchain.com Account as these transactions are not subject to cryptocurrency network congestion, fee volatility, or potentially delays in confirmation. Blockchain.com Account offers you a diverse selection of cryptocurrencies and enables you to manage your portfolio with ease.
Benefits of Each Option
- Non-custodial control with sole ownership of private keys
- Enhanced privacy as Blockchain.com does not have access to your funds or addresses
- Multiple blockchains and networks support
Blockchain.com DEX - a decentralized exchange where crypto can be traded directly between buyers and sellers.
- Ability to buy and sell crypto
- Earning rewards on your crypto
- Bank account deposits and withdrawals, card purchases
- Fast and seamless swapping of your cryptocurrency
Feel free to explore both options and choose the one that aligns with your preferences and goals in managing your cryptocurrency assets.
*For residents of Hawaii, Louisiana, New Jersey, Nevada, Tennessee, Texas, and Virgina: Cryptocurrency execution services are provided by Bakkt Crypto Solutions.