Blockonomics. Is it trustworthy?

[Jay-W]

Hi there,
I have been looking into Blockonomics .co because I'm interested in finding a good place to monitor various different Bitcoin wallets, held on different software and hardware wallet systems.

I was wondering if you could share your opinion about this site..  How does it compare to other companies providing same/similar services? .. Does it also function as an Escrow service?

Thank you
JW

[1714645419]

1714645419

[1714645419]

1714645419

[1714645419]

1714645419

[1714645419]

1714645419

[LeGaulois]

They have been around for ~5 years now and I've never heard anything bad about them. Although I don't hear everything,... fortunately...

The problem I faced is the system watch out only the latest 100 transactions (I don't remember correctly if 100 is the exact number but for sure there is a limit). So if you're re-using BTC addresses, it will come to the point you will hit the limit maybe. Same if you monitor someone else address.

I would call this a minor thing, considering their main activity is also non-custodial payments processing systems...

Did you take a look at Sentinel from Samourai wallet and bitcoinwhoswho.com?

[bL4nkcode]

I'm using them for email notification of my funds with my ledger nano s since 2018.

Never heard about the escrow thing from them but they work as a payment gateway for cryptocurrency mainly for bitcoin.

[Jay-W]

Thanks for replying.

... Did you take a look at Sentinel from Samourai wallet and bitcoinwhoswho.com?

I have only heard of Samourai, but I haven't looked at them in detail yet. I will check them out.

[Jay-W]

Thank you 

... but they work as a payment gateway for cryptocurrency mainly for bitcoin.

Regarding the payment gateway, I stumbled across this page which is why I thought there might also be an escrow service. 
https://www.blockonomics.co/views/merchant_reviews.html?merchant_emailid=aW5mb3JtYWdlZWtzcHJvLnNob3BAZ21haWwuY29t

Could this be an indication of customers leaving reviews of vendors using Blockonomics? 

Perhaps it is integrated with the payment gateway. The vendor doesn't seem to be able to prevent customers from leaving bad reviews.

[bL4nkcode]

Regarding the payment gateway, I stumbled across this page which is why I thought there might also be an escrow service. 
https://www.blockonomics.co/views/merchant_reviews.html?merchant_emailid=aW5mb3JtYWdlZWtzcHJvLnNob3BAZ21haWwuY29t

Could this be an indication of customers leaving reviews of vendors using Blockonomics? 

That sounds like a warning to everyone users/buyers that people should be wary to any sellers that uses blockonomics payment gateway or do any transaction in bitcoin as bitcoin isn't reversible, once you sent the funds, its final and you can get it back.

Perhaps it is integrated with the payment gateway. The vendor doesn't seem to be able to prevent customers from leaving bad reviews.

Yes, its normal thing but should be limited to users who bought  the items/products.

[BitMaxz]

~snip~

What are you planning to do with the Blockonomics merchant? Are you going to use it as an escrow service?

Actually, I'm using their service on my WordPress website as my payment gateway without any issue yet and you will need the master public key of your wallet to connect it to Blockonomics. It means that all of your sales are sent directly to your wallet and they don't have full control of your wallet. All generated addresses from invoice are generated from your "master public key". So it's just a third party to accept payment but they do not act as an escrow service.

[BitMaxz]

What if our nano ledger is lost or damaged? Can we still back up our lost assets on the hardware wallet? or should we surrender? I've been in crypto for years, but haven't used a hardware wallet lol. Because I'm the type to be careless when handling small items.

You should visit ledger nano documentation first to learn how to use it. You can download the manual from here https://support.ledger.com/hc/en-us/articles/360007061974-User-manual

Ledger nano is generating mnemonics seed(24 word phrase) on the first setup so make sure you have a copy of this or write them down on the piece of paper and put them on the safe place because you will need it in the future if the hardware wallet is lost or damaged.

[bL4nkcode]

What if our nano ledger is lost or damaged? Can we still back up our lost assets on the hardware wallet? or should we surrender? I've been in crypto for years, but haven't used a hardware wallet lol. Because I'm the type to be careless when handling small items.

As long as you have a backup of its seed (24 word recovery phrase) nothing to worry, you can import it to electrum and use desktop wallet if and only if your hardware wallet broke or lost.

[elda34b]

Hi there,
I have been looking into Blockonomics .co because I'm interested in finding a good place to monitor various different Bitcoin wallets, held on different software and hardware wallet systems.

If you just need a notification of transactions, then a bot like magnum notifier is a good alternative. Blockonomics is limited as somebody said, so you'll have to pay at some point. Other than that, they're good enough but as always, there's a first time for everything.

[pakhitheboss]

Thanks for replying.

... Did you take a look at Sentinel from Samourai wallet and bitcoinwhoswho.com?

I have only heard of Samourai, but I haven't looked at them in detail yet. I will check them out.

Samourai is the best mobile wallet for Bitcoin, the best desktop wallet for Bitcoin is wasabi and ledger is for hardware wallet. I have been using Samourai wallet for quite sometime now and have not faced any issue with it. It is highly recommended wallet on BTT.

[bitmover]

Hi there,
I have been looking into Blockonomics .co because I'm interested in finding a good place to monitor various different Bitcoin wallets, held on different software and hardware wallet systems.

I don't trust. They probably will track you and the addresses you paste there.

You  can create your own using excel

Nust take a look at this topic
https://bitcointalk.org/index.php?topic=5245623.msg54357027#msg54357027


K

For a long time I have been searching for a solution for a simple problem that I have:

Too many addresses to monitor in different wallets. Additionally, I have receive bitcoins more than once a week, just like many here do.

I was for a long time using easybalance , which is a great website, but it doesn't support native segwit addresses.

So I decided not to be lazy and create an address monitor on my own using blockchair api data. It was pretty easy.

I will show you how:

1 - Download Excel Power Query https://www.microsoft.com/en-us/download/details.aspx?id=39379&CorrelationId=c9c9ec0d-5336-4ba8-a6a7-7b229fb861ac

2 - Click Add Data From Web


3 - On the URL enter:

https://api.blockchair.com/bitcoin/dashboards/addresses/{:address}
{:address} = (for a set of up to 100 addresses, comma-separated, further referred to as the addresses dashboard)
(source=https://blockchair.com/api/docs)

4- Once API data shows up, click in Data > Record.
Then click Set > Record

5 - Then click convert Into Table


Now you just go to Balance tab (which is zero in this picture, but you should do with a set of addresses with balance). Then you should create a formula like =B5/100000000 to show balance properly (otherwise it will show in satoshis, not in Bitcoins.

Hope you it helps somebody

[btc_enigma]

Thank you 

... but they work as a payment gateway for cryptocurrency mainly for bitcoin.

Regarding the payment gateway, I stumbled across this page which is why I thought there might also be an escrow service. 
https://www.blockonomics.co/views/merchant_reviews.html?merchant_emailid=aW5mb3JtYWdlZWtzcHJvLnNob3BAZ21haWwuY29t

Could this be an indication of customers leaving reviews of vendors using Blockonomics? 

Perhaps it is integrated with the payment gateway. The vendor doesn't seem to be able to prevent customers from leaving bad reviews.

Just stumbled across this thread. I am a team member of Blockonomics.

Few clarifications:
- Blockonomics is not an escrow. The received funds are sent direct to merchant wallet
- We have a review system to check merchant scam. Lots of merchants were selling good but not delivering goods after receiving funds. Since, we are not an escrow and don't hold funds, we put have reviews in place to helps customers. Any paying customer will get a review link to rate the merchant according the order.

[Jay-W]

Regarding the payment gateway, I stumbled across this page which is why I thought there might also be an escrow service. 
https://www.blockonomics.co/views/merchant_reviews.html?merchant_emailid=aW5mb3JtYWdlZWtzcHJvLnNob3BAZ21haWwuY29t

Could this be an indication of customers leaving reviews of vendors using Blockonomics? 

That sounds like a warning to everyone users/buyers that people should be wary to any sellers that uses blockonomics payment gateway or do any transaction in bitcoin as bitcoin isn't reversible, once you sent the funds, its final and you can get it back. ...

I don't see how it is a warning not to deal with anybody who uses Blockonomics. From what I can see, Blockonomics seems genuinely impartial. It is reassuring to see a platform that the vendor cannot manipulate. I do hope this is the case anyway.

Perhaps it is integrated with the payment gateway. The vendor doesn't seem to be able to prevent customers from leaving bad reviews.

Yes, its normal thing but should be limited to users who bought  the items/products.

I hope so.. or if not, then it isn't much of a proof of purchase and genuine review platform.

[Jay-W]

Thank you 

... but they work as a payment gateway for cryptocurrency mainly for bitcoin.

Regarding the payment gateway, I stumbled across this page which is why I thought there might also be an escrow service. 
https://www.blockonomics.co/views/merchant_reviews.html?merchant_emailid=aW5mb3JtYWdlZWtzcHJvLnNob3BAZ21haWwuY29t

Could this be an indication of customers leaving reviews of vendors using Blockonomics? 

Perhaps it is integrated with the payment gateway. The vendor doesn't seem to be able to prevent customers from leaving bad reviews.

Just stumbled across this thread. I am a team member of Blockonomics.

Few clarifications:
- Blockonomics is not an escrow. The received funds are sent direct to merchant wallet
- We have a review system to check merchant scam. Lots of merchants were selling good but not delivering goods after receiving funds. Since, we are not an escrow and don't hold funds, we put have reviews in place to helps customers. Any paying customer will get a review link to rate the merchant according the order.

Very interesting. Thank you for posting

... Can you show us a screenshot of the web portal a customer uses to send bitcoin to the vendor (business) please?

[btc_enigma]

Thank you 

... but they work as a payment gateway for cryptocurrency mainly for bitcoin.

Regarding the payment gateway, I stumbled across this page which is why I thought there might also be an escrow service. 
https://www.blockonomics.co/views/merchant_reviews.html?merchant_emailid=aW5mb3JtYWdlZWtzcHJvLnNob3BAZ21haWwuY29t

Could this be an indication of customers leaving reviews of vendors using Blockonomics? 

Perhaps it is integrated with the payment gateway. The vendor doesn't seem to be able to prevent customers from leaving bad reviews.

Just stumbled across this thread. I am a team member of Blockonomics.

Few clarifications:
- Blockonomics is not an escrow. The received funds are sent direct to merchant wallet
- We have a review system to check merchant scam. Lots of merchants were selling good but not delivering goods after receiving funds. Since, we are not an escrow and don't hold funds, we put have reviews in place to helps customers. Any paying customer will get a review link to rate the merchant according the order.

Very interesting. Thank you for posting

... Can you show us a screenshot of the web portal a customer uses to send bitcoin to the vendor (business) please?

Feel free to see this https://twitter.com/blockonomics_co/status/1157198804623351808

[DarkDays]

From what I know, there is really nothing to "trust" here since you are not staking your money with them. They are providing a similar service to what Blockchain.info did years ago but they are doing it in a much better way with way better visual interfaces for the end-users. Even non-tech people will find Blockonomics interesting to look through as opposed to reading through a bunch of dry data.

So long as you're not either handing of control of your wallet, or providing access to your private keys/mnemonic phrase, you can be pretty sure that a platform is safe.

No access to funds = safe.

[BitMaxz]

... Can you show us a screenshot of the web portal a customer uses to send bitcoin to the vendor (business) please?

Are you talking about the invoice sample? Take a look at this sample image below.



And this


You can check this below on how to setup and accept bitcoin.

https://www.youtube.com/watch?v=tysaHV2CxPI

[bitmover]

So long as you're not either handing of control of your wallet, or providing access to your private keys/mnemonic phrase, you can be pretty sure that a platform is safe.

No access to funds = safe.

The risk is about privacy, not funds safety. He will just create an account and attach some addresses to his account. Isn't that a privacy nightmare?
He will be tarcking his balance and they certainly have a database with all users adn their addresses (and balances).

As I said, I would avoid this kind of service.
Would you share your bank acount balance with anyone?

[bL4nkcode]

The risk is about privacy, not funds safety. He will just create an account and attach some addresses to his account. Isn't that a privacy nightmare?
He will be tarcking his balance and they certainly have a database with all users adn their addresses (and balances).

As I said, I would avoid this kind of service.
Would you share your bank acount balance with anyone?

Their service primarily works like that and for a payment gateway, there are other services do the same for what they're offering, "track/monitor/notifier of a bitcoin address(es)"

Some people need this kind of service/work/job. While others can always choose what they want, you have your choice as well to avoid them.