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Block.io VS MyEtherWallet

Compare Block.io VS MyEtherWallet and see what are their differences

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Block.io logo Block.io

Block.io is the safe and powerful wallet for your coins that conveniently manage your bitcoin, dogecoin, and litecoin by using a single platform.

MyEtherWallet logo MyEtherWallet

MyEtherWallet is a free, open-source, client-side interface.
  • Block.io Landing page
    Landing page //
    2021-07-05
  • MyEtherWallet Landing page
    Landing page //
    2023-04-05

Block.io features and specs

  • User-Friendly Interface
    Block.io offers an intuitive and easy-to-use interface, making it accessible for beginners who want to engage in cryptocurrency transactions without technical barriers.
  • Multi-Currency Support
    Block.io supports multiple cryptocurrencies, allowing users to manage various digital assets from a single platform.
  • Security Features
    With features like multi-signature wallets and cold storage options, Block.io prioritizes the security of users' funds, reducing the risk of unauthorized access.
  • API Integration
    Block.io provides robust API support for developers, facilitating seamless integration with other applications and services for various use-cases like payment processing.
  • Automated Backup
    The platform offers automatic backup of wallet data, which ensures that users can recover their assets in the event of data loss.

Possible disadvantages of Block.io

  • Centralization Risk
    As a custodial service, users are required to trust Block.io with their private keys, which introduces a risk if the platform itself is compromised.
  • Limited Advanced Features
    Compared to other cryptocurrency platforms, Block.io might lack some advanced features that experienced traders and developers might require.
  • Transactional Fees
    Block.io charges fees for transactions and other services, which could be higher compared to using native blockchain networks directly.
  • Dependency on Service Uptime
    Users' access to funds and transactions relies on Block.io's server and service uptime, potentially posing a risk if the service is down.
  • Regulatory Challenges
    Operating as a centralized service, Block.io might face regulatory challenges in certain jurisdictions, affecting its operational stability and user accessibility.

MyEtherWallet features and specs

  • User Control
    MyEtherWallet (MEW) is a non-custodial wallet, meaning users have full control over their private keys and funds, enhancing security and autonomy.
  • Open Source
    Being open-source software, MEW allows users and developers to review its code, enhancing transparency and security.
  • Compatibility
    MEW is compatible with various hardware wallets like Ledger and Trezor, providing additional security options for users.
  • Wide Range of Tokens
    MEW supports a wide variety of Ethereum-based tokens (ERC-20), making it versatile for different types of users and use cases.
  • Integrated with DeFi
    MEW offers integration with decentralized finance (DeFi) platforms, enabling users to easily access various DeFi services.
  • Web and Mobile Access
    MEW offers both a web interface and a mobile app, allowing users to access their wallets conveniently.

Possible disadvantages of MyEtherWallet

  • User Responsibility
    As a non-custodial wallet, users are fully responsible for managing their private keys. Losing keys means losing access to funds, and there is no way for customer service to recover them.
  • Phishing Risks
    Being a popular online wallet, MEW is often targeted by phishing attacks. Users must be cautious to ensure they are using the correct website.
  • Technical Knowledge
    MEW may require a certain level of technical knowledge to fully utilize its features, which could be a barrier for beginners.
  • Limited Support
    MEW has limited customer support compared to custodial wallets, which might be a challenge for users needing immediate assistance.
  • Security Risks
    Since MEW is primarily a web-based wallet, it can be vulnerable to online threats and hacking risks. Users need to implement strong security practices.

Analysis of Block.io

Overall verdict

  • Block.io is considered a good option for those who require a reliable and secure API for managing cryptocurrency transactions. Its ease of use, security features, and support for multiple cryptocurrencies make it a convenient choice for developers and businesses.

Why this product is good

  • Block.io provides a user-friendly API for managing Bitcoin, Litecoin, and Dogecoin wallets. It offers features such as multi-signature wallets, instant withdrawals, and a focus on security with PIN-protected systems. The service is beneficial for developers and businesses looking to integrate cryptocurrency transactions into their applications without dealing with the complexities of blockchain management.

Recommended for

  • Developers building cryptocurrency applications
  • Businesses looking to integrate cryptocurrency transactions
  • Users who need multi-signature wallets for enhanced security
  • Anyone wanting to simplify cryptocurrency transactions with an API

Analysis of MyEtherWallet

Overall verdict

  • MyEtherWallet is a good option for those looking to manage Ethereum and ERC-20 tokens. Its ease of use, security features, and flexibility make it a viable choice for both new and experienced cryptocurrency enthusiasts.

Why this product is good

  • MyEtherWallet (MEW) is popular among users for its ease of use, especially for beginners in the cryptocurrency space. It allows users to create wallets for Ethereum and ERC-20 tokens without the need for third-party software. MEW is also a non-custodial platform, meaning users have full control over their private keys and funds, enhancing security. The platform supports hardware wallet integration and provides a simple interface for managing Ethereum-based assets.

Recommended for

    MyEtherWallet is recommended for those who are comfortable managing their private keys and prefer a non-custodial solution to hold Ethereum and ERC-20 tokens. It is especially suitable for users who value integration with hardware wallets for enhanced security.

Block.io videos

No Block.io videos yet. You could help us improve this page by suggesting one.

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MyEtherWallet videos

+ Add

How Create MyEtherWallet (MEW) Account | Complete Tutorial 2020

More videos:

  • Demo - How To Use MyEtherWallet: Demo & Review
  • Review - Setting Up & Using MEWconnect with MyEtherWallet

Category Popularity

0-100% (relative to Block.io and MyEtherWallet)

Block.io

MyEtherWallet

Cryptocurrencies
20 20%
Cryptocurrencies
80% 80
Cryptocurrency Wallets
18 18%
Cryptocurrency Wallets
82% 82
Business & Commerce
100 100%
Business & Commerce
0% 0
Crypto
0 0%
Crypto
100% 100

User comments

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Reviews

These are some of the external sources and on-site user reviews we've used to compare Block.io and MyEtherWallet

Block.io Reviews

We have no reviews of Block.io yet.
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MyEtherWallet Reviews

Top DeFi Wallets
In the earlier days, wallets such as MyEtherWallet dominated the market while providing clunky UI/UX. Fortunately, within the past year, many wallets have upped their game and are creating better interfaces with significantly better user experience.
Source: defirate.com

Social recommendations and mentions

Based on our record, MyEtherWallet should be more popular than Block.io. It has been mentiond 55 times since March 2021. We are tracking product recommendations and mentions on various public social media platforms and blogs. They can help you identify which product is more popular and what people think of it.

Block.io mentions (14)

  • Communicate with the block.io company
    Does anyone know a way to be able to communicate directly with block.io management / CEO. Source: about 2 years ago
  • NEED HELP
    OK so I signed up to block.io. It looks dodgy AF to me! But the backup contains an xprv and a bip39 seed phrase... Unfortunately I can't make them make matching addresses. I suggest trying to restore the seed into a mobile wallet like Coinomi and see if it can find your funds. Source: over 2 years ago
  • Block.io locked me out of my account. how can i sweep all my coins with my private keys
    We run a crypto ATM and fortunately the manufacturer contacted them on our behalf about the account lock and managed to unlock it. When we tried to email block.io, it was always NO reply EVER. We tried emailing about a different topic on a different email address and they replied within the day so they clearly saw the emails but refused to reply. Source: over 2 years ago
  • Block.io locked me out of my account. how can i sweep all my coins with my private keys
    I got locked out of my block.io account for no reason. Thankfully I was able to get my private keys. Source: over 2 years ago
  • block.io issues
    Block.io support can you give a detailed explanation on how to export or sweep btc from block.io wallet to another external wallet using private keys from block.io. Source: over 2 years ago
View more

MyEtherWallet mentions (55)

  • WELCOME NEWCOMERS!!🎉🎉
    Never share your private key/recovery phrase (same thing in different form). I made one exception to this, which was to use myetherwallet.com to generate my private key from the reovery phrase, then use my private key to import my account into metamask. Source: over 2 years ago
  • MEW v5 sunsetting on October, 4th 2022!
    In order to prevent any issues with wallet access after the sunsetting of MEW v5, try out our current version of MEW at https://myetherwallet.com. Source: almost 3 years ago
  • How to find and unstake HEX without Metamask access - is it possible?
    If you have the mnemonic seed phrase, you can find out what the corresponding Private Key/Ethereum address is, for example, with myetherwallet.com. However, any Ethereum wallet works for this, Electrum or Exodus are also legit choices and always safer choices than an online wallet provider. Source: almost 3 years ago
  • What is the absolute most secure way to create an Ethereum wallet?
    Visit website to create public and private key (like myetherwallet.com). Source: about 3 years ago
  • Lost 17,000 $ of ETH due to hacked Metamask wallet
    Thank you! I just checked that. The account is newly created, it was only connected to myetherwallet.com. Maybe the whole Metamask wallet was compromised so the hacker can access to all the accounts within it. Source: over 3 years ago
View more

What are some alternatives?

When comparing Block.io and MyEtherWallet, you can also consider the following products

Toshi - A browser for the Ethereum network

Jaxx - Jaxx.io is a blockchain wallet available as desktop software, a mobile app, or as a Chrome extension

Exodus.io - All-in-one app to secure, manage and exchange blockchain assets.

Trezor.io - The Hardware Bitcoin Wallet

Atomic Wallet - Secure cryptocurrency wallet for Bitcoin, Ethereum, Ripple, Litecoin, Stellar and over 500 tokens. Exchange and buy crypto for USD with credit card in seconds.

My TON Wallet - My TON wallet. Free TON blockchain wallet allows you creating new accounts, make backups, restore them, send transactions and much more. You will be able to transfer CRYSTALS between accounts quickly and securely. Open source code on Github.

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