Beginner's Blockchain Wallet FAQ

Blockchain Wallet FAQ

What is a block explorer?

A block explorer is a service that allows you to easily view and verify information about the blocks, addresses, and transactions created by Bitcoin. It simplifies transactions by saving Bitcoin users the hassle of running the Bitcoin client to verify the exchanges. Blockchain.info is a block explorer.

What is a block? 

A block is a record of some or all of the most recent Bitcoin transactions that have not yet been recorded in any prior blocks. An analogy could be to the individual pages of a recordbook or a stock transaction ledger. New blocks are added to the end of the blockchain, and never changed or removed.

What is a transaction? 

A transaction shows coins which have been sent between one of more bitcoin addresses. Often transactions include an additional "change" output.

What are address tags?

Address tags are identifiers known to you only. They help you to manage your addresses efficiently.

What are public notes?

Public notes are embeddable short messages during the transaction. An example of a public note can be seen below:

How do I make a public note?

You can embed a public note when doing a transaction with Blockchain.info. Simply input your message in the column below when sending a transaction.

What is taint?

The taint is the percentage of funds received by an address that can be traced back to another address. An example of a taint analysis is: https://blockchain.info/taint/1dice6GV5Rz2iaifPvX7RMjfhaNPC8SXH

What is My Wallet?

My Wallet is free service which makes it easy to send and receive Bitcoins without needing to download a Bitcoin client, and update the blockchain. In short, My Wallet is a secure online wallet designed to simplify the use of Bitcoins for new and experienced users alike.

Are there any fees?

No, it is a free service. You may be asked to include a "miners fee" to help support the Bitcoin network, which is mandatory for the use of Bitcoins.

Is it secure?

Yes it is, we are protected from hacks as all of your private keys are encrypted with your password before leaving your computer. We do not hold a copy of your password, and thus are unable to view or spend your Bitcoins. You retain full control of your private keys, so your wallets can never be seized or blocked and can be imported into any desktop Bitcoin client.

Where can I find help?

Please create a ticket at Support Desk

Why does the price amount change over time in my wallet?

This is due to the constantly changing price of bitcoin, the price of one bitcoin follows the market patterns.

How do I send Bitcoins?

Please log in to your My Wallet account, and navigate to the 'Send Money' tab. Enter the destination Bitcoin address and the amount involved. You will be asked to confirm and to pay a miner's fee if needed.

How do I receive Bitcoins?

Please log in to your My Wallet account, navigate to the 'Receive Money' tab, and click the New Address option. Enter a label that corresponds to its purpose, i.e.: 'From Ben','From faucet'. Remember to back up your wallet frequently!

How do I back up my wallet?

Please log in to your My Wallet account, and choose a backup method listed there. Blockchain.info can upload an encrypted copy of your wallet to your Dropbox or Google Drive, and email you an encrypted copy of your wallet to your email. Alternatively, you can download your wallet directly.

How do I label an address?

Please log in to your My Wallet account, navigate to the 'Receive Money' tab, and and click Actions. Select the Label Address option, and enter the label accordingly.

How do I delete an address?

Please log in to your My Wallet account, navigate to the 'Receive Money' tab and click Actions.

We suggest that you do not delete your addresses directly, and instead archive it. If you really want to delete the key from your wallet, you can delete it in the Archived Addresses tab. (Warning! Bitcoins sent to this address in the future will be lost too!) 

What is Watch Only address?

Bitcoin Addresses come in two parts, a public part and a private part. The public part allows you to view the transactions and balance of a bitcoin address only. The private part is the important bit to prove that you are the owner of a Bitcoin address and is needed to be able to send funds from that address. If there is an address in your My Wallet account which is missing its private key, it will be marked "Watch Only" which means unless you have the private key saved up elsewhere you do not own the funds at that address and can only "Watch" them.

What is a paper wallet?

A paper wallet is analogous with a pre-signed check book that contains everything you need to send and receive money from your Bitcoin wallet. Paper wallets are one of, if not the most, secure way to store your Bitcoins. There is no way anyone can make unauthorized transactions on your behalf without stealing the paper document. We provide an easy way for you to make a secure paper wallet using My Wallet. Please see this tutorial.

What is two factor authentication?

Two factor authentication is as an approach to security authentication, which requires that the user of a system provide more than one form of verification in order to prove their identity and allow access to the system. Our users are protected from hacking attempts with the use of two factor authentication via Yubikeys, Google Authenticator, SMS message and Email.

How can I enable two factor authentication?

Please log in to your My Wallet account, and choose the Account Settings option. Navigate to the Security tab, and choose an authentication method.

Can I use a mobile device to access My Wallet?

Yes. There is an Android app and an iOS app available.

How to export a wallet to Multibit?

Please log in to your My Wallet account, and download a copy of your wallet. Start your Multibit Client up, and follow this guide.

How to import a Bitcoin-Qt wallet?

Please go to https://blockchain.info/wallet/import-wallet, and locate your wallet.dat file. Drag your wallet file into the area provided, and follow the instructions given.

Where is my wallet.dat file?

In Windows, go to Start -> Run (or press WinKey+R) and run this: explorer %APPDATA%\Bitcoin

In Mac, open Finder -> Press [shift] + [cmd] + [g] and enter ~/Library/Application Support/Bitcoin/

In Linux, the file will be located in ~/.bitcoin/

How do I close my account?

We apologize, but closing your account is not possible at the moment.

What if I forget my password?

Your Bitcoins in your wallet are unfortunately lost. We apologize, but due to our stringent security practices we do not have a copy of your password. Please periodically create paper backups of your wallet to prevent this unfortunate incident from happening.

Where can I find your privacy policy?

Our privacy policy can be found here

I have added a watch only address, but it is asking me for a private key to send a transaction? 

It is impossible to generate the private key unless it is saved somewhere else e.g. paper wallet. Without the private key you do not own the funds stored at this address.

How can I sign a Bitcoin message?

Please log in to your My Wallet account, navigate to the 'Receive Money' tab, and click the Action option.

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