Block.io Wallet Review – A versatile and secure wallet for your coins

About Block.io Wallet

Launched in South Korea in 2016, Block.io is a wallet that provides services that allow its users to transfer and manage some of the major cryptocurrencies like Bitcoin, Dogecoin and Litecoin. Block.io is a platform that provides services that allow its users to transfer and manage some of the major cryptocurrencies. To access their services you need to have a registered wallet on their platform. They also provide APIs specifically for developers so they can develop their own wallet and integrate them into an application.

Block.io Wallet Key Details

How To Install Block.io Wallet?

Block.io Wallet Fees

Unlike other wallet services, Block.io does not charge you any fees, at all. Network Fees, however, are part of the Dogecoin, Bitcoin, Litecoin network design. Without Network Fees, our beloved digital currencies cannot function properly.They keep your Network Fees as low as possible for your transactions, while ensuring your transactions get network validation as quickly as possible.

Block.io Features

Your private keys are stored by a third party and they have easy access to them. Hierarchical Deterministic, Open Source, Multi-Signature, 2 Factor Authentication “Block.io is meant to be easy to use, fast, and secure.Addresses require at least two signatures for every withdrawal: yours, and theirs.The website interface is clean and easy to use. A good start for anyone looking at using Dogecoins.

Block.io Wallet Security

Block.io addresses require at upto 5 signatures for every withdrawal: one of ours, and upto 4 of yours. Simply put: we do not have access to your coins.This section tells you how we approach our systems’ and users’ safety, and provides guidelines for you to follow.

Customize your security

Our Distributed Trust (dTrust) framework helps you establish custom signature configurations for your addresses. This feature exponentially enhances your system’s security compared to the single-signature addresses in general use today.Trust lets you add up to 4 keys next to the key we keep, and allows you to set your own signature requirement. You can then keep your keys on different machines, USB-sticks, print them to paper, assign to friends and family, run an escrow service, etc. In a high-security automated environment, you’d send your keys across the globe and store your secrets on different continents.Moreover, you can use your dTrust addresses without using Block.io

How Can Safe Block.io Wallet Coins

To withdraw from our basic (default) addresses, 2 keys are needed. Multiple signatures have a number of security benefits over single-signature (regular) addresses.One key is held by you, to make sure you always sign off on every transaction.The second key is held by Block.io, which enables us to provide extra security to you through API access restrictions and two-factor authentication.

How we secure your data

Strong Encryption Standards

We encrypt all user secrets linked to your wallets through a 256-bit AES cipher and 25,000 PBKDF2 hash rounds. This makes cracking a single Secret PIN extremely resource intensive: requiring over 1 million days on state of the art computers today!

Zero Knowledge of your Secrets

We are unaware of your Secret PIN, and cannot recover these even if we tried. Your Secret PIN is never sent over the network.

We minimize use of Secrets

We use Multi-signature wallets built on top of Hierarchical Deterministic wallets (HD wallets), as outlined by the BIP0032 standard, to generate new addresses for your account without ever needing access to old or new addresses’ private keys.

Security Best Practices

The website and API libraries use the up-to-date security standards such as BIP0062, and RFC6979.

How To Secure Your Block.io Wallet?

There Are A Number Of Ways To Keep The “Bad Guys” Away From Block.io Wallet . And Although Cryptocurrency, As A Technology, Has Increased Anonymity And Encryption, The Devices On Which These Funds Are Stored (Phone, Pc, Tablet) Are Much More Susceptible To Hacking. Below Are A Number Of Simple Tips That Can Improve The Security Of Your “Crypto Wallet”.

Step 1 : Store Your Token Pocket Wallet Private Keys Offline: Print Them Out On Paper

The “Hunt” For Your Data Does Not Stop For A Minute, Regardless Of What Gadget You Use, Or What Network You Are Connected To. A Good Idea To Solve Some Of The Problems Associated With The Possibility Of Theft Of Personal Data Is Printed On Paper Keys For The Wallet — A Variant Of Replacing The Software “Assistant”. In This Case, You Will Only Need Paper And A Printer — No Additional Devices Or Gadgets. The Output Will Be A Kind Of Offline Wallet, Represented By A Pair Of Printed Keys. Some Enthusiasts Refer To This Approach As “Cold Wallets”, Because In The End, The Storage Process Takes Place Offline.Paper Wallets Are In Regular Demand, And You Can Test Their Functionality Yourself:

The Main Difference: The Creation Of Unique Addresses And Keys Through The Use Of Client-side Js Scripts. In Other Words, Keys Are Created Immediately On Your Pc, Without Requiring Data Transfer Over The Internet. And To Make This Process More Fun, The Developers Suggest That You Move The Mouse And Fill In Text Fields, Thus Obtaining Unique Data For Generating The Necessary Tools.

Step 2 : Setup Second Step Verification

Two-factor Authentication Requires The User To Enter An Additional Code From Another Source – Such As A Text Message Or Email. However, The Most Common Method Is Through The Google Authenticator App. Just Install It On Your Phone And It Will Generate A New 6-digit Access Code To Log In To Your Block.io Wallet Or Make Transfers.

We Recommend Using Only Those Web Wallets That Do Not Support Two-factor Verification. In Particular, The Wasabi Wallet Offers To Activate 2fa Already At The Registration Stage.

Step 3 : Create A Strong Password For Your Block.io Wallet

If You Decide To Use A Web Block.io Wallet, Which Is Recommended Only For Small Transactions, Alway Make Sure That Your Password Is Secure. Never Enter Your Date Of Birth Or Credit Card Pin As Your Password. Use Alphanumeric Combinations, Combine Cases, Use Underscores, And So On. But It’s Best To Use An Strong Online Password Maker Website.

Step 4 : Learn To Recognize Phishing Sites

Phishing Sites And Apps Mimic The Design Of Popular Crypto Wallets In The Smallest Detail — Only The Page Address Is Slightly Different. Before Entering Your Private Key Or Secret Phrase In Your Wallet, Make Sure That The Page Address Is Correct.

The Chrome Store Library Is Known For Its Abundance Of Phishing Extensions, Especially For Cold Wallets Like Ledger. Although Google Removes Dozens Of Such Fraudulent Products Every Month, New Ones Are Coming In Their Place. In March 2020, Fraudsters Stole More Than $ 250,000 In Ripple Coins From Their Wallets Using A Fake Extension, And In June 2020, Crypto Podcast Host Eric Savix Lost All Of His 12 Bitcoins By Entering A Secret Phrase In A Phishing Extension For Ledger.

Step 5 : Don’t Click On Links In Emails

Phishers Often Send Emails From An Address That Is Almost Identical To The Real Address Of The Wallet Support Service. For Example, If You Use A XYZ Wallet From xyz.cxom Then You May Receive An Email From A Fake Address Like Support@xy-z.com Instead Of The Present Support@xyz.com. These Emails Try To Scare The User Or Create The Illusion Of Urgency — For Example, You Will Be Informed That Your Account Has Been Hacked/Blocked And That You Need To Update Your Security, Change Your Password, And So On. The Link Leads To A Fraudulent Page That Will Either Steal Any Data You Enter Or Install A Virus On Your Device.

This Also Applies To Ads Above Google Search Results That Often Advertise Phishing Pages. Here Is An Example – Note The Difference In Just One Letter Between A Real Address And A Fraudulent One:

Step 6 : Install Or Use Trusted Antivirus

The First Thing You Should Do After Installing A Block.io Wallet Is Install A Reliable Antivirus And Update It. Most Cyber Attacks Attempt To Send Important Information From Your Computer, You Should Make Sure That Your Pc Or Mobile Is Protected From A Virus Threat. Regularly Update Your Antivirus To Minimize The Risks Associated With The Appearance Of New Virus Threats That The Old Version Did Not Protect Against.

Step 7 : Never Disclose Your Private Keys

Private Keys Are Intended Exclusively For You. You Should Not Disclose Them For Transactions Or Cryptocurrency Purchases

Final Thought

We Hope You Like Our Block.io Wallet Review . If You Like Than Please Comment Your Thought Below . Also Subscribe Our Newsletter For More Interesting Copay Bitcoin Wallet Reviews . Thanks For Visit At Altwow .