Cryptocurrency News

Blockchain Monthly Update: June

We’ve been in constant build mode over the last year, and we want you to be among the first to know what we’ve been up to. So, we’re kicking off a new series of monthly blog updates to keep you in the loop on what’s going on at Blockchain.

In it, we’ll cover things like:

  • ICYMI: a sneak peek at product enhancements and launches you may have missed
  • Feature of the Month: highlights a feature you may not be using
  • The Bottom Line: figures around cryptocurrencies and growth of our community
  • Blockchain in the Cryptosphere: insights from our team and events on the horizon

We hope you will find these updates as useful as even members of our growing team have found them to be.

ICYMI – USD PAX and Swap Updates

In May, we partnered with Paxos to add the first stablecoin (USD PAX) to the Blockchain Wallet. Since then, we’ve seen a rapid rise in its use across our wallets; global uncertainty and volatility across crypto have grown, and users have turned to USD PAX to hedge currency and portfolio risk.

Next up, we’re preparing for another adoption boom as we add USD PAX to our mobile wallets. The addition will allow Android and iOS users – who make up a significant portion of our community – to unlock peer-to-peer payments and savings pegged to the US dollar. We’re especially excited for the opportunity this will bring users in inflation-prone countries like Venezuela, Turkey and Nigeria.

While we’re on the subject of launches, we wanted to take a brief moment to update you on a feature we announced last October called Swap.

For those not familiar with Swap, it’s a quick and easy way to exchange crypto-to-crypto without ever leaving your wallet or having to convert to fiat.

You keep full control over your private keys. We handle the rest.

We’ve seen such high demand for Swap in the last seven months that we’ve introduced Gold Level exchange limits. Gold Level users can now trade up to $10,000 (or your local equivalent) per order, and a maximum of $50,000 per day.

If you’re currently at Silver Level or haven’t signed-up for Swap yet, upgrade to Gold for free and start swapping at our highest level!

Feature of the Month – Login via Mobile

Want to accelerate your web wallet login and save yourself some keystrokes? Try the “Pair Web Wallet” feature to unlock your web wallet through your mobile app.

Begin by selecting “Pair Web Wallet” in the app menu. From there, you’ll be directed to open the web wallet login screen in your computer browser. Select “Login via Mobile” in the bottom left corner of the box, and permit your browser to access your webcam.

Using your computer’s camera, scan the QR code unveiled in your mobile wallet. Note: this code is unique to you and contains your wallet credentials, so keep it hidden!

Once it scans, you’re logged in and ready to go.

Just make sure you don’t rely on Login via Mobile too much and forget your password. Actually, while you’re logged in, why not triple check that you’ve written down your recovery phrase?

The Bottom Line

Did you enjoy BTC’s ride from $5380 to over $8400 in May as much as we did? How about ETH and BCH jumping by more than 60% each? Despite a dip over the first few days of June, I’m sure you share our hopes that the crypto winter is thawing and we’re in for a long summer.  

And the rising crypto prices have brought with them a new wave of adopters making the leap into crypto. In fact, we’ve added more than 4M wallets to our community in just the last two months – over double the number of wallets created in April and May last year.

So, if you’re an OG Blockchainer and see a new face adopter join the cryptosphere, give them a warm welcome.

Blockchain in the Cryptosphere

In the news:

  • Unchained Podcast – Our Co-founder and CEO Peter Smith caught up with Laura Shin to talk the vital role of non-custodial services, our Markets division and plans for our future
  • Forbes – Laura also spoke with our President and Chief Legal Officer Marco Santori on the SEC, and the challenges of applying current laws to crypto
  • Coindesk – Leigh Cuen caught up with our Head of Strategy and General Manager of our Wallet, Xen Baynham-Herd to talk about adding USD PAX to our mobile wallet
  • Times of India – Our Head of Research Garrick Hileman on why stablecoins can have a big impact in India
  • Quartz – Garrick again, this time talking with Nupur Anand about crypto and why asking Warren Buffett about it is like asking for a taxi driver’s view on Uber

At events in June:

  • Tokenized Assets London (June 4) – Our Co-founder and Vice Chairman Nic Cary joined a panel on the role of exchanges in mass adoption of crypto
  • CryptoCompare Digital Asset Summit (London, June 12) – Catch our Head of Research Garrick Hileman talking the Future of Stablecoins at 10:35 a.m. on the Main Stage

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