Balder's career was marked not only by valor in war but also by deep personal conflict. He developed a complicated bond with Karnilla, Queen of the Norns, whose love for him often placed him at the center of magical and political intrigues. During one notable period Balder was separated from Asgard and became embroiled in events involving Karnilla, Frost Giants, and the struggle for succession following Odin's apparent death.

In time, despite all efforts to avert destiny, Balder's death became one of the key events leading to Ragnarok and the destruction of Asgard. After the fall of the gods, Balder did not pass entirely from existence, and during the later restoration of the Asgardians he was eventually recovered and returned. In the modern era, Loki revealed Balder's full parentage and manipulated circumstances so that Balder was elevated to the throne of Asgard while Thor was cast out.

As ruler, Balder struggled with doubt, manipulation, and the burdens of kingship. He permitted Asgard to be relocated to Latveria under deceptive counsel, a decision that placed his people in peril. During the Siege of Asgard, Balder fought beside his fellow gods against the forces assembled by Norman Osborn. In the aftermath, though burdened by guilt over the devastation suffered under his reign, Balder remained a central figure in Asgardian affairs and continued to serve his people with characteristic honor and humility.

Balder is also one of the most swift and agile of all Asgardian warriors. His speed, coordination, and reflexes are of an extremely high order even by Asgardian standards, and he is renowned as one of Asgard's finest swordsmen and combatants. He has vast experience in armed and unarmed combat and has fought some of the most dangerous enemies ever to menace Asgard.

Through training and mystical development, Balder has also demonstrated the ability to manipulate light and heat. He has generated powerful luminous energies for offensive and defensive purposes, and on at least one occasion displayed enough control over such energies to affect Frost Giants and their stronghold on a large scale. He has also shown limited magical talents on rare occasions, though he is not primarily a sorcerer and normally relies upon his natural abilities, warrior skill, and enchanted weaponry.

Like other Asgardians, Balder's metabolism enables him to recover from injury far more rapidly than a human being, provided the injury is not catastrophic and does not bypass his mystical protections. He is not truly immortal in the absolute sense, but ages at an extremely slow rate and can live for many millennia.