The damage of the copper stave will affect the sustainable production of the blast furnace and is not conducive to improving the economic efficiency of the blast furnace. The formation of a stable slag crust is crucial for the longevity of the copper stave. In this study, the flow properties and crystallization characteristics of the slag crust in a blast furnace with the copper stave running for 10 years without damage in China were analyzed. The phase precipitation during the cooling process was calculated by FactSage software. The phase composition and micromorphology of the slag crust were studied in detail by XRD and SEM–EDS. The results show that the slag phase in the slag crust is a CaO-SiO2-Al2O3-MgO-FeO slag system with high alumina content (33.62 ~ 35.72%) and low magnesium oxide content (2.68 ~ 3.84%). The melting characteristic temperature of the slag crust in the belly and the bosh is between 1127–1303 °C and 1287–1500 °C, respectively, and the characteristic temperature of the cold side of the slag crust is higher than that of the hot side, which was mainly resulted from the tendency of gehlenite and magnesia-aluminum spinel in the slag phase to precipitate during the cooling process. With the increase of the basicity of the slag phase, the precipitation temperature and amount of gehlenite increase, resulting in the characteristic temperature of the slag crust in the bosh significantly higher than that in the belly. The increase of FeO content reduces the initial precipitation temperature of crystals, and the increase of cooling strength is beneficial to the slagging on the copper stave, which provides a theoretical basis for the stable operation of the slag crust on copper stave blast furnace.