Introduction
The blockchain wallet just as its name suggest is a wallet in which we keep our money or fund except that in the case of the blockchain wallet funds kept are in the form of cryptocurrency the same way your bank keeps your funds in your local currency. Again just as some banks deals in more than one currency at a time and have international branches such that you have access to your funds anywhere at anytime, the blockchain also works in a similar in not same way.
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And so with the blockchain for those that are termed multichain wallets, they are able to hold more than one cryptocurrency and can show you the total value of all your assets. There are many types of blockchain or otherwise known as crypto wallets some of which include the blockchain wallet by Peter and Nicola, atomic wallet, trust wallet etc. There are also exchanges like Binance that allows you to keep crypto funds in different forms and can exchange from to another. They indirectly serve as wallets for your crypto funds too and their apps act directly as crypto wallet.
Blockchain App
The application I have been using since I got to understand the basics of blockchain technology and bitcoin transactions etc is the blockchain app. I use both the desktop version and the mobile version, mobile version can be obtain both at google playstore and apple store. Initially the app supported very few cryptos, the once I remember was bitcoin and ethereum, then there was bitcoin cash, later they did an airdrop for stellar which I missed out because I had not done the KYC as at that time. The KYC is not compulsory though if you want to use the app however access to some other functions such as trading, exchange, airdrops, buying and selling crypto with the app requires you do go through the verification process.
Currently the app also supports algorand, wrapped-DGLD, USD Digital, and Tether. There is also the swap option where one can convert their bitcoin to Ether, USD Digital or Stellar. The blockchain app uses the wallet ID and it is important that one keeps his wallet ID secured together with their password for their account so they can access it anytime anywhere whether via mobile or desktop.
More of the Blockchain App
I love the blockchain app probably because it is the only one I have ever known and it’s easy to navigate, with your account ID you are good to go and the rates of transaction is quite low. As a matter of fact you can even customized your fee and bring as down as you want although that will affect how long your transaction will take if the mempool is increased but it is a good feature for me.
The backup phrase can help you recover your accounts should anything go wrong or you lost your keys or wallet ID, this can be accessed at the settings option at backup phrase. You definitely have to keep this much secured since anyone with access to it can just get access to your funds. The app comes with email and mobile verifications too which keeps you updated on all the things that you may be doing in your wallet. You can change your local currency to your preference and also have the option of cloud backup and 2-step verification
Conclusion
Whiles my knowledge of this particular app may not cut across all multichain wallets I believe most the things I have said here can be generalized to the others. The most important thing about any crypto based wallet that we must always be particular about though is keeping our private keys secured safe at all times for without it we may loss our assets. Thanks for reading and have nice time.