We’re introducing a number of improvements to make it easier and safer than ever to access the Blockchain.com Wallet and Exchange.
The following enhancements will be rolling out to select customers in the coming weeks and then to all customers in the coming months.
1. Log in with Email Magic Links
One of the key innovations behind the Blockchain.com Wallet is that it’s hosted in the Cloud. Your Wallet is encrypted by a number of secrets that you control, yet it remains accessible via the web without requiring custom hardware. By simply remembering a Wallet ID and password, we’ve made it easy for non technical people to control their own private keys and money.
The Wallet ID and password work in unison to protect your account in the event your password is compromised. However, over the years we’ve found that customers sometimes struggle to remember that they have a Wallet ID or understand why they need it.
Today, we’re introducing Email Magic Links to help you link your device and sign in without having to use a Wallet ID. In the future, we’ll be adding guardrails so customers don’t mistakenly sign up multiple times with the same email address.
2. Secure Channel Log in Approval
We’re making it easier to log in to your Blockchain.com account on a web browser by authorising the log in with your mobile phone. In the past, we supported Device Pairing which allowed Wallets to share a QR code that could be used to authenticate and pair another device.
The problem with this model is, since the QR code is usually hosted on a mobile device, it requires customers to use a PC webcam to authenticate. Moreover, if a QR code was compromised, an attacker could gain permanent access to your Wallet.
Today, we’re introducing an overhauled linking mechanism called ‘Secure Channel’. This will enable you to scan QR codes with your mobile device. Once scanned, you’ll be able to approve or reject the request by reviewing the security information. We’re hopeful this will lead to more accessibility and security when linking a device.
3. Account Recovery
Last year we introduced an easier way to buy crypto directly within the Blockchain.com Wallet. By holding your fiat and recently purchased crypto in the trading account, we enabled support for instant purchases through your account balance, cards and bank transfers. We also introduced the ability to earn interest on your crypto directly within the Blockchain.com Wallet.
These products have been extremely successful and, over the last year, we’ve helped millions of people buy and hold crypto.
In order to streamline custodial account recoveries, we’re introducing a password reset and identity re-verification mechanism to help customers regain access to their account.
Account Recovery won’t help recover any funds you self-custody through the Private Key Wallet. However, it provides a straightforward way for you to recover any funds Blockchain.com holds on your behalf.
Coming Soon: Single Sign On
Since introducing the Blockchain.com Exchange in late 2019, we’ve had millions of traders take advantage of our advanced liquidity gateway.
One of the key pieces of feedback we’ve heard is customers don’t understand why they need two separate accounts for the Exchange and the Wallet.
We’ll soon be enabling customers to log in to their unified Blockchain.com account and use it to authenticate against both the Wallet and the Exchange. Keep an eye out for this exciting enhancement.
Tying it all up
Email Magic Links, Secure Channel Approval, Custodial Account Recovery and Single Sign On are rolling out to select customers in the coming weeks.
We’ll continue to iterate and improve on these features to make Blockchain.com the simplest and safest place to control your money.