How to Resolve the Not Working Error of the Blockchain Wallet?
Do you have a Blockchain Wallet? Do you often get not working error when accessing the blockchain wallet? Do you not know what to do to fix the issue? If yes, then keep reading the following section. It allows you to understand the major ways to fix the error immediately and enjoy the fullest benefits of the blockchain wallet.
Before getting into the topic, let’s have a look at what the blockchain wallet is and its major uses. Knowing much about the blockchain wallet makes you aware of many issues and gets instant solutions as well.
What is the Blockchain Wallet?
While reading the topic, the term Blockchain Wallet seems new to many people. Actually, it is a computer program designed in a way to keep checking and managing cryptocurrencies securely and safely. Even though this wallet is not physically present, it is a virtual destination where you can be able to store your currency just like the regular wallet.
Whenever you are dealing with the popular crypto wallets such as blockchain wallets, the transactions are usually recorded on the blockchain. It stores the fund in the virtual format, which users can access to pay when tradition into the cryptocurrency via blockchain or even transfer money.
Look at the Major Features of Blockchain Wallet
Before starting accessing the blockchain wallet, it is highly important to know about its features because it helps you to take most out of the wallet without any hassles. Take a glance at the major features of the wallet, which every user should know.
- This wallet is extremely easier to access. It is much similar to other software and wallet, which you access in your day-to-day transactions. Thus, you need not think much about accessing this wallet.
- It is one of the highly secure and safe wallets because it accesses the private key. It is the major reason behind the high level of security.
- It lets instant transactions throughout geographies. As it is barrier-free and works without intermediaries, it is extremely easier to do transactions with no worries.
- The fee for transferring funds across various accounts is charged lower when compared to traditional banks.
- This is why the number of people accessing the blockchain is increasing every day.
- It lets transactions across several cryptocurrencies and assists people in doing easy and hassling free currency conversions
Reasons for blockchain considered secure and safe
The security features of the blockchain help you access the appropriate information and data at the right destination at the right time effortlessly. It also enables the companies to separate roles and responsibilities by safeguarding sensitive data without compromising the customers’ access. The blockchain also ensures that the customer has a safer and secure account.
Different security layers such as user access security player, network security layer, infrastructure security layer, application security player, and identity security layer are used in the wallet to protect the account. These are the major reasons for blockchain considered as the safest destination to engage with.
How Does Blockchain Work Securely?
If you really want to understand the major concept behind blockchain, then it is vital to know how it works in a safe and secure way. There is no existence of any type of cryptocurrency without the distributed and transparent ledger. It makes all kinds of transactions highly possible to happen with no alterations. Usually, the data managed by the blockchain is distributed and stored throughout the network. Each operation on the data is recorded and then confirmed in the record form.
Blockchain generally accesses two major types of keys, such as public key and private key. You always require a place to store your transactions record safely with the private key, which enables your identification in the decentralized network. During the transaction, your private key must match the public key.
As soon as it is identified that both keys matched, the current owner is signed off to the address of the wallet. Then, you will witness the transactions recorded on the secure blockchain network. In your Blockchain wallet, your balance will appear for your concern. If you do not understand the blockchain wallet concept, then let’s explain everything clearly.
Take the email address as an example. It is much similar to the wallet public key. You can give an email address (public key) to anyone. However, it does not mean that anyone can send an email from your account. To do so, someone needs to know about your password. Keep in mind that the wallet follows the same process using the private and public keys together. At the time of wallet generation, the public key is also generated and shares it with others to receive the funds.
You should keep the private key safer because it is top-secret. It acts much similar to a password. Use this key whenever you are going to spend your fund. When someone gets access to your wallet private key, the chance of getting your account compromised and hacked is high. It might end up losing all your cryptocurrency deposits in the account. Now, you will be cleared about the way blockchain wallet works.
Different Types of Blockchain Wallet
The need for reliable and secure cryptocurrency storage is increasing a lot in the modern era. It is vital to remember that cryptocurrency safety usually depends upon the responsibility of the user. If you really want to keep your funds safer, it is extremely crucial to combine the knowledge of the currency storage and digital security. The processed cryptocurrency transactions are highly irreversible. Thus, you should maintain protection access to both private and public keys to keep away from becoming the victim of the hacker attack.
To fulfill the requirements of all the user requirements, a wide range of the blockchain wallets are available in the online marketplace to select from. Before selecting the right blockchain wallet to use, it is necessary to learn all the information about the wallets and its major types. In a simple word, the blockchain wallet is a combination of the private key and users’ public addresses. The type of storage is the only vital feature differentiating wallets from every other.
The major types of the blockchain wallet are classified based on the private keys – cold wallets and hot wallets. The hot wallets are much similar to normal wallets, which people carry for regular transactions, and these are extremely user friendly. On the other side, cold wallets are exactly the same as the vault. They used to store cryptocurrencies along with the top level of security.
Hot wallets are similar to online wallets through which you can transfer cryptocurrencies easily and quickly. This type of wallet is usually accessible online. In this wallet, private keys are stored in the cloud for quick transfer. They are extremely easier to access 24×7 and can be used through the mobile or desktop. However, the risk of theft when hacked is unrecoverable.
Cold wallets are nothing but the digital offline wallet where you can make transactions, which signed offline and disclosed online later. Usually, private keys are stored in the paper document or hardware. It is not connected to the cloud and the internet. This method of transactions assists in protecting the blockchain wallet from unauthorized use and various other vulnerabilities.
- We can further divide the blockchain wallets into the following types, which help you a lot to find out the right one to access as per your needs.
- The desktop wallet is extremely easier to use from your device. It is extremely safer and securer than online wallets. You can download this wallet and install it on your personal computer for better access.
- The mobile wallet is quite handy and easier to access. To access this wallet, you should download the application and then open the account.
- The online wallet is one of the widely accessed wallets because it is used from any browser. This wallet is extremely easy to set up and commonly free to access.
- The paper wallet is the paper document, which comes along with the private keys and written public keys
- Hardware wallets are much similar to pen-drive. This wallet is much easier to carry around. As it is universal, you can access this wallet wherever you want.
- All these wallets have their weaker and stronger sides so that it is your responsibility to find the right wallet as per your needs. Overall, the blockchain wallet is the popular and highly secure bitcoin wallet with low transaction and in-built crypto trading features.
Benefits of the Blockchain Wallet
Currently, more than 30million wallets are developed to date. The team behind the development of the blockchain wallet proudly announces that this wallet is not only famous but also highly trusted crypto storing wallet on this planet. Blockchain technology is doing some wonderful things in the world for the past couple of years. Among them, the blockchain wallet always holds a special mention, and it renders tons of benefits to the customers or users.
Blockchain allows you to back up your funds and secure your account with the password. Or you can even access two-factor authentication for double account protection. After that, memorize and write down the recovery phrase. These things ensure your wallet is safe to use. The transaction fee is another greatest feature of the blockchain wallet. Upon accessing this wallet, you will receive the lowest trading, selling, and buying fees in the industry.
It allows the trading cryptos into various other cryptos within the blockchain wallet itself. It actually makes the entire process much faster, smoother, and less stressful. Currently, blockchain is available for mobile in iOS and Android versions, as well as online versions. According to your needs and convenience, you can take access to any of this way. This wallet supports up to 22 flat currencies and can be accessed in 25 different languages.
Understand the major blockchain wallet issues
It has already been over a decade since cryptocurrency became famous. Crypto users and fans have been attempting out several ways to store their assets in various wallets. However, you have not witnessed huge crypto adoption because of the number of issues related to blockchain wallets. The major reason behind this is not having enough knowledge about digital security features.
Along with this, it seems to be impractical to access crypto for regular retail transactions and small payments. Even though the number of people accessing crypto wallet is increasing a lot in recent times, blockchain wallets have not obtained a massive adoption. It is all just because of the major issues associated with the wallets.
Take a glance at the major issues associated with the wallet. Every problem has a solution so that once you understand them, you will be able to make the most out of the wallet.
Lack of security
While designing the digital wallet, the highest priority is given to the security aspect. However, the level of security still differs from one type of wallet to another. The great inconvenience in the blockchain wallet is that crypto exchanges can easily get hacked. Additionally, it is extremely easier to withdraw the funds of the users because there is no tied-in password for the wallet.
There is a huge reason behind this. It is nothing but the user address storage stored in a single file. Since it contains several numbers of unique addresses associated with users’ accounts, it looks a better choice for hackers. To make a wise option, you must research all the wallets and their characteristics properly. Never store most of your funds in the less secured wallets.
Always select the cold storage because it stores user data properly and separately on the isolated server. Usually, cold wallets are much slower but contribute much to security. When the operating machine is attached, the attackers will not obtain a hold of the user data. While selecting the wallet, ensure you perform this aspect double-check.
Unable to Deal With Non-Cash Assets
Wallets usually deal with cryptocurrency management and storage. Some of the most popular cryptocurrency is Ether and Bitcoin. However, the issue is the non-cash assets such as smart contractors and personal data, and IDs cannot be stored in the digital wallet. Moreover, it is not possible to access them whenever dealing with businesses but not supporting cryptocurrency.
You can wait some time and look for what the future holds. The wallets are still developing in stage to render more amazing functions. At present, it is highly possible to use up your crypto coins from your cards directly. When you do not have any crypto, the blockchain wallet is not for your needs.
Common Issues and Solutions of the Blockchain Wallet
Unfortunately, the above-mentioned issues happen sometimes, and therefore things do not go smoother as planned. Certain issues, such as application fail and face reliability issues, are often confronted by wallet users. Take a glance at the major issue related to blockchain wallet access and its possible solutions.
How to Fix Not Working Error of the Blockchain Wallet?
Even though the blockchain wallet has taken advantage of many technologies, it is still prone to some unexpected technical glitches, which affect the users greatly. One of the common issues users confront when accessing the wallet is not working error. It lets the users neither get access to their wallet account does not utilize the balance in the blockchain wallet.
Whenever you confront such an issue, you should address the issue with the specific instructions. Here are the major methods to fix the blockchain, not working issues.
Access the funds’ recovery option
The major reason behind the not working issue of the blockchain wallet is unable to recover the fund from your wallet. If you want to recover the fund from the wallet, firstly, you have to go to the security center and then enter the section “backup funds.” It helps you to enjoy trouble-free fund transfer. However, this section will recover your money to a completely new blockchain wallet.
In addition, the system will also generate the new wallet ID for you. This amazing feature works in the same manner as all kinds of wallets including the popular blockchain wallet. It offers you access to your money but ensures to keep all the information offline and secured. Keep in mind that you should follow the steps mentioned in this section properly to fix the issue.
Fix the Browser Related Issues
Web browsers generally develop many issues while utilizing the blockchain wallet. Whenever you experience an issue, immediately, you need to refresh the site by simply pressing the Ctrl + F5 button on your keyboard. In case if this step does not work correctly, then clear your browser histories such as cache files and cookies. It assists you to show the refreshed and latest content on your site. You can do this while you experience any issue related to the web browser.
Reset 2FA Option on Your Blockchain Account
In most cases, the major reason behind the blockchain not working issue is the 2FA related problems. It serves as an additional layer of security. Whenever you lost your 2FA (two-factor authentication), you require to choose the alternate choice, such as getting the codes through instant SMS.
As soon as you find yourself in situations such as unable to access verified emails, device not functioning, delay issue, and not getting verification code, you can be able to request a 2FA option. It assists you to receive the code via the Yubikey and Google authenticator app. It is always better to keep 2FA updated to stay away from these issues.
Solve the DNS related problems instantly
Sometimes, the blockchain wallet is not working properly because of the DNS related problems. Actually, DNS determines the site IP address, and therefore you can access them to remember your data quickly. It is similar to a webpage phonebook, and your ISP offers such kind of service.
If you really want to avoid this issue, then it is necessary to clear the local DNS cache every now and then. Try to load the latest cache of your device ISP, and most importantly, remember the system OS has different settings.
How to solve the reliability issue
Another major issue confronted by the blockchain wallet is trustworthiness and reliability. Users are unable to ascertain which kind of wallet to select. Here are certain problems and the ways to address them easily.
Recover your blockchain wallet
Suppose you are accessing the mobile crypto wallet and lose your mobile phone as well as the private key. Now, what do you do? In such circumstances, you should not worry because all you need to do is installing the wallet on your new device and then recovering the wallet with the help of mnemonics. Mnemonics is nothing but the phrase connected straightly to the private keys. It works as the decryption and alternative key at the time of private key loss. It renders the easy and quick backup.
Authentication of the valid wallet transaction
At present, there are a huge number of funds hacking cases recorded against the crypto wallets. Thus, it is highly mandatory to maintain a high level of safety of the funds. Blockchain wallet is offering the extra layer of security to perform the hassle-free cryptocurrency transactions. It also makes sure that the transaction is completely executed only when all the needed parties sign the crypto transactions. In simple words, valid authentication is highly important for doing the wallet transaction.
The validity of the users
As the use of the crypto wallets is high in demand, fund safety should also be maximized simultaneously. Therefore, features such as two-factor authentication, password-protected access, biometric authentication, and various other must be integrated into the Blockchain Wallet for additional protection. It also ensures the safety and security of accessing the wallet.