Block.io wallet review

Block.io
Block.io
Developed Ease of use,  High Privacy,  Wallet platform Private Keys Stored

Block.io is a web-based platform mainly targeted to developers that want to build their own wallet. It's a basic wallet API that can be adapted by developers to meet their needs. It supports Bitcoin, Litecoin or Dogecoin. Block.io has some good security features and offers by default a free ad-supported version for the basic service plan.

Block.io multi-signature feature works on the dTrust framework, allowing users to set-up custom signature configurations for the wallet addresses. Block.io users can set-up labels for the wallet addresses, keeping a better record of them. On the paid plan services, users have the possibility of using a private network infrastructure and create a larger number of wallets.

Company / organization behind the wallets

There is not much information regarding the company that runs this service. Block.io has a company Twitter account (@blockio) and a Facebook page (/blockapi/) but there isn't any information background regarding the people that run the company.

Crypto Currencies Support

Language Support

  • English

Supported Systems

  • Online Only

Block.io has two layers of security a user and password followed by a pin number. Block.io allows users to add up to 4 keys besides the key the platform keeps, thus creating custom signatures. These are exceptional features.

Summary:

Security
Low
2 Factor Authentication
Yes
Multi-Signature
Yes
Private Keys Stored On
Wallet platform
Storage Type
Hot storage
Transactions Validation
SPV or Lightweight client
Hierarchical Deterministic
No

What happens in the event of a disaster/theft/loss?

The user has a 'root key', 'recovery phrase' or 'word seed' that can be used to regenerate private keys.

The web interface of this platform can create some degree of confusion for a novice user since there are some options for developers that want to create applications around Block.io platform. (API keys, Testnets - sandboxed networks that allow developers to debug implementations while using coins that have no value)

Summary:

Given the fact that the company which runs the website has little to no record of existence and due to the fact that the private keys are stored by Block.io and not in control of the user, you should be advised not to use this service for large amounts of cryptocurrency. This platform is mainly intended for developers that want to deploy blockchain-integrated applications.

Ease of use
Developed
Suitable For
Techy’s
Account activation process
Involved
Transaction fees
Dynamic Transaction fees, Set up fees
Setup fee
$0.00

Block.io multi-signature feature works on the dTrust framework, allowing users to set-up custom signature configurations for the wallet addresses. Block.io users can set-up labels for the wallet addresses, keeping a better record of them. On the paid plan services, users have the possibility of using a private network infrastructure and create a larger number of wallets.

There are none

Help and
support:

  • FAQ section
  • Contact form
  • Email
  • Live chat
  • #block.io (chat.freenode.net)
  • Reddit (/r/BlockIO/)

Personal information for activation account:

  • Name
  • Email Address

Most common
customer complaint:

poor customer support.