How does blockchain work

Blockchain info wallet is one of the oldest services with the strong reputation for keeping and exchanging cryptocurrencies. It uses blockchain technology, which is the most secure for digital transactions by now.

What is blockchain technology and how it works

Its structure has the sequential chain of blocks containing information about all operations and transactions. Absolutely every action is digitally signed to ensure its veracity. In fact, blockchain can be configured to work in various ways using different mechanisms to obtain accordance on transactions and, in particular, to indicate known participants in the chain and keep out everyone else.

Basic principles of blockchain are:

  • Decentralization of database;
  • Security and safety;
  • Openness and transparency of transactions;
  • Records of transactions can’t be altered.

Advantages of blockchain wallet:

  1. It doesn’t belong to any bank and doesn’t exist on any country’s territory, so it doesn’t require tax registration and paying.
  2. Registration of the wallet account is simple and accessible to everyone, regardless of the level of education and intelligence.
  3. The place for storage Bitcoins is absolutely free — this is not a bank account for which you need to pay annually.

Therefore, after you understand the principle of how does blockchain work, you can easily store your money in the safest place to date, without paying anyone a penny. To be informed about the situation on markets blockchain info regularly publishes reviews and news, which can be found in the “Latest Headlines”.

How to create and use blockchain wallet

Blockchain info wallet collaborates with exchange partners all over the world and makes instant transactions secure. But buying or selling cryptocurrencies is available only in Single Euro Payments Area region (Europe). It supports Bitcoin, Bitcoin Cash and Ether. Transfers are shown to every user but details are hidden — you can see the amount of transaction but can’t see participants.

Creating the wallet, as well as managing it subsequently, is simple — you just provide your verifiable e-mail address, choose the password and confirm your mobile number. After registering you get 2 keys — private key and public key. Private key (combination of numbers and letters) is kept in secret, you should never give it to anyone, otherwise, wallet loses safety. Public key, or blockchain info address, you send to the third part to receive payments. Private key gives you full control over your values kept in your blockchain wallet — it’s used to spend, exchange or send cryptocurrency or different documents to someone else.

To improve safety blockchain info offers a two-step verification by using e-mail/mobile phone and also Google Authenticator for better protection of wallet. Also, after registration, it is strongly recommended to write down a backup phrase, which is the most important measurement to secure the account or to recover the access in case if you forget your password.

How to add money to wallet

Buying/selling option was added to blockchain info wallet in 2016, and that feature increased the popularity of the service in times. How to add money to blockchain? In fact, you can’t keep cash in blockchain info wallet — you can just purchase Bitcoins via bank transfer or by using your debit or credit card. After you submit your order, the transaction will be sent to blockchain info review. Time to complete transaction is not defined — it depends on various factors:

  • payment method;
  • country;
  • amount of currency, etc.

Exchanging or sending/receiving cryptocurrency is much faster, it will appear on wallet balance within 20 minutes after transaction submitted.

Blockchain info customer reviews in the last couple of weeks show that service was experiencing some issues but by now blockchain info news submits that everything is fixed and works on a regular basis.

If you find blockchain info down or you can’t access your wallet — contact with support center, they have the strong professional team that will help you with any issue.