Blockchain.com: Crypto Wallet 4+

Not working in iOS 17.1

App is crashing on the iOS 17.1 after login view.

Swap

Everything was going well with this application until I did a swap from BTC to USD-D and the charges were as high as 40%. So unfair, everything I worked for was taken right in front of my eyes. Worst of all is I am unable to swap my money back from USD-D to crypto and even worst I can’t send to someone else as the charges to send is about 30% of what I am left with. This is so unfair with the very high commission/charges. I worked for months just for the blockchain to take ever gains from me plus a big part of capital😔

Odpowiedź dewelopera ,

Hi Liz,

Thank you so much for taking time to share your feedback. Although we charge a small spread when you swap crypto, it sounds like the fees you are describing are the network fees charged to transfer the crypto between the wallets to facilitate the swap. Currently ERC-20 based tokens have very high network fees due to the large increase in network activity (and congestion). As the price of crypto has increased so quickly, this is causing more and more people to send crypto (To friends or to sell on exchanges) and as a result the fees to transfer are considerably higher than normal. As the network gets congested, the fees increase. The miners who confirm transactions on the network are awarded these fees every time they confirm someone's transaction. This means the busier the network, the higher the fees as more and more people start increasing the fee they are willing to pay in order to ensure their transaction is confirmed faster by the miners. Naturally the miners on the network will choose the transactions from people paying the higher fees first, as this is how they get paid for their part in the confirmation process.

Blockchain.com does not profit from those fees in any way. The transaction fee is absorbed by the crypto network and paid to the miners who are independent from Blockchain.com in order for them to confirm your transaction. We do offer dynamic fees in the wallet so you can manually adjust the fee and lower it, but doing so will increase the length of time it takes for the miners to pick your transaction and confirm it. The fees automatically adjust based on how busy the network is.

I hope this helps explain how the fees work, and if you need any further information please feel free to raise a support ticket and we can answer any questions you may have.

Thanks

Love it!

One of the best wallets out there. They allow storing on private key wallets as well! 💪

Odpowiedź dewelopera ,

Hi Yersuachu,

We pride ourselves on the fact we are one of the biggest non-custodial wallets out there, and were glad you're enjoying holding your crypto in one of our wallets! Thank you.