Today there are so many investment options available and crypto is one of them. Which is giving higher returns than any regular investment like gold, silver, stocks, or mutual funds. You need to keep your investment secure.
And for crypto, there are many types of crypto wallets available to keep your crypto investment safe, and secure. And coinbase wallet is one of the safest and most secure wallets for your hardcore crypto investments.
Here, in this post, we will give you a detailed coinbase wallet review covering all aspects of this wallet like its features, fees, trustworthiness, reliability, pros and cons, and how to use this wallet.
Must read- 7 Best Platforms To Learn And Earn Crypto For Free
So, let’s start-
What is a Coinbase wallet?
A Coinbase wallet is a digital wallet provided by the cryptocurrency exchange Coinbase. It allows users to store, send, and receive a variety of cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and more. The wallet is available on both mobile and desktop platforms and is protected by multiple layers of security to help keep users’ funds safe. Additionally, Coinbase offers the option of a hardware wallet, called the “Coinbase Vault,” which provides an added layer of security for storing large amounts of cryptocurrency.
However, you need to understand that coinbase and coinbase wallet are two different things. Coinbase is the world’s largest cryptocurrency exchange platform where you can buy, sell, or trade cryptocurrencies while coinbase wallet is used to keep your crypto and NFTs secure. Coinbase wallet is a powerd by coinbase platform. Coinbase wallet has its andfiod and IOS app and chrome browser extension also. You can use it easily on your smartphone and desktop also. Right now coinbase is available in more then 100 counties with more then 108 Million verified users across the globe. You can check here.
On the coinbase wallet, you can easily send and receive cryptocurrency and NFTs. Coinbase wallet supports thousands of tokens and dapps. You can explore the decentralized web on your phone or browser. It is the best way to keep your digital assets protected with industry-leading security. And you get complete control of your crypto investment. And if you use the coinbase exchange platform then you can easily access the coinbase on the coinbase wallet to keep your cryptos there directly.
Must read- coinbase wallet vs coinbase
How coinbase wallet work?
Coinbase Wallet is a software wallet provided by Coinbase, a cryptocurrency exchange and brokerage company. The wallet allows users to securely store and manage their cryptocurrency holdings, including Bitcoin, Ethereum, and other supported coins and tokens. Users can send and receive cryptocurrency using the wallet’s built-in address book and QR code scanner. The wallet also includes a feature called “Collectibles,” which allows users to store and manage non-fungible tokens (NFTs). The wallet uses a 12-word recovery phrase to protect the user’s funds in case they lose access to their device. The private keys of the wallet are stored on the device and are encrypted with a password set by the user.
How to get started with the Coinbase wallet?
Getting started with Coinbase Wallet is relatively simple and straightforward. Here is a step-by-step guide on how to get started:
Download the Coinbase Wallet app:
The Coinbase Wallet app is available for both iOS and Android devices and can be downloaded from the App Store or Google Play Store. Also you can have coinbase wallet browser extension also.
Create an account:
Once the app is installed, open it and create an account by providing your email address and creating a password.
Verify your identity:
Coinbase Wallet will require you to verify your identity by providing your name, date of birth, and a government-issued ID. This step is in compliance with the laws and regulations of Coinbase. Completing KYC is a crucial step to enable transection into your wallet.
Enable two-factor authentication:
You might have a question is coinbase wallet safe to use? Then answer is 100% yes. To enhance the security of your account, you will be prompted to enable two-factor authentication. This can be done by linking your account with the Google Authenticator app or by receiving a code via text message.
Backup your recovery phrase:
You will be prompted to create a recovery phrase, which is a 12-word phrase that can be used to restore access to your account in case you lose your login credentials. Make sure to write down the recovery phrase and store it in a safe place.
Add funds to your wallet:
Once your account is set up, you can add funds to your wallet by purchasing cryptocurrency through the Coinbase app or by transferring cryptocurrency from another wallet.
Use your wallet:
Now that you have set up your Coinbase Wallet, you can use it to store, send and receive a variety of cryptocurrencies, as well as interact with decentralized applications on the Ethereum blockchain.
In summary, getting started with Coinbase Wallet is relatively simple and straightforward, with a clear and user-friendly interface and a process that includes downloading the app, creating an account, verifying your identity, enabling two-factor authentication, backing up the recovery phrase, adding funds to the wallet and start using it.
What are the key Features of Coinbase Wallet?
Coinbase Wallet is a digital wallet that offers a variety of features to help users securely store, send, and receive a variety of cryptocurrencies. Here are some key features of Coinbase Wallet:
Multi-coin support:
Coinbase Wallet supports a variety of cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and more.
DApp Browser:
The DApp Browser is a built-in browser that allows users to interact with decentralized applications on the Ethereum blockchain directly from the wallet.
Security:
Coinbase Wallet has multiple layers of security to protect users’ funds, including two-factor authentication, biometric login, and the option for a hardware wallet.
Insurance:
Coinbase Wallet is insured, which means users’ funds are protected in the event of a hack or other security incident.
Ease of use:
Coinbase Wallet has a user-friendly interface that makes it easy for users to manage their funds on the go.
Multi-platform support:
Coinbase Wallet is available on both mobile and desktop platforms, making it accessible to a wide range of users.
Shared wallets:
Users can create shared wallets, which allows multiple users to have access to the same wallet, making it easy to share funds.
Recovery phrase:
Users have the option to secure their account by creating a recovery phrase, which can be used to restore access to the account in case of lost or forgotten login credentials.
In summary, Coinbase Wallet is a digital wallet that offers a variety of features to help users securely store, send, and receive a variety of cryptocurrencies, including a built-in DApp browser, multiple layers of security, insurance, ease of use, multi-platform support, shared wallets and recovery phrase.
What are the services offered by Coinbase Wallet?
Coinbase Wallet is a digital wallet that offers a variety of services to help users securely store, send, and receive a variety of cryptocurrencies. Here are some of the main services offered by Coinbase Wallet:
In summary, Coinbase Wallet offers a variety of services including secure storage, sending and receiving of multiple cryptocurrencies, a built-in DApp browser, shared wallets, recovery phrases, price tracking, and insurance. Additionally, it is available on both mobile and desktop platforms, making it easily accessible to a wide range of users.
What network and assets does Coinbase wallet support?
Coinbase Wallet supports a variety of cryptocurrencies, including:
This list is subject to change as Coinbase Wallet continuously adds new assets to the wallet. It is important to note that not all of these assets are available in all regions, as some assets may be restricted in certain jurisdictions due to regulatory or compliance reasons.
Coinbase Wallet also supports ERC-20 and ERC-721 tokens that run on the Ethereum blockchain, allowing users to store and manage a wide range of digital assets directly from the wallet. While as of February 2023 Coinbase Wallet will not support the following assets and networks due to low usage:Â
Even if you try to send or receive unsupported assets via Coinbase Wallet then you end up might be losing them.
Which networks are supported by Coinbase Wallet?
Coinbase Wallet supports many types of networks. Coinbase wallet supports Ethereum and all EVM-compatible networks in both the mobile app and browser extension. Coinbase Wallet is already configured with many networks and you can also do it manually. Here is a list of all supported networks-
In summary, Coinbase Wallet supports a wide variety of cryptocurrencies including Bitcoin, Ethereum, and Litecoin, as well as other coins such as USDC and DAI, and ERC-20 and ERC-721 tokens. The list of supported assets is subject to change as Coinbase Wallet continuously adds new assets to the wallet.
Coinbase Wallet Review – Pricing and Fees
Coinbase Wallet is a free-to-use digital wallet, that allows users to store, send, and receive a variety of cryptocurrencies. However, there are fees associated with certain actions, such as buying or selling cryptocurrency on the Coinbase exchange and sending cryptocurrency to other wallets.
Coinbase charges a fee for buying and selling cryptocurrency on its exchange. The fee is based on the size of the transaction and the payment method used. For example, buying or selling cryptocurrency with a bank account or wire transfer typically incurs a lower fee than using a credit or debit card.
Sending cryptocurrency to other wallets, or withdrawing funds from Coinbase Wallet, also incurs a fee. The fee varies depending on the type of cryptocurrency being sent and the blockchain network’s current congestion. For example, Bitcoin transactions typically have higher fees than Ethereum transactions.
Coinbase also charges a network fee for moving funds between wallets. This fee is determined by the blockchain network, not Coinbase, and is used to compensate the nodes that process the transaction.
It is important to note that Coinbase also offers a paid service, Coinbase Pro, which has different pricing and fees structure.
In general, Coinbase Wallet is a free-to-use digital wallet, but it is important to be aware of the fees associated with certain actions, such as buying and selling cryptocurrency, and sending or withdrawing funds, in order to determine if it is the right option for you.
DApp Browser by Coinbase Wallet
The DApp Browser by Coinbase Wallet is a built-in browser that allows users of the Coinbase Wallet to access decentralized applications (DApps) on the Ethereum blockchain. This feature enables users to interact with DApps directly from the Coinbase Wallet, without the need to install additional software or browser extensions.
DApps are a new type of application that runs on a decentralized, blockchain-based network, rather than on a central server. They allow users to perform a wide range of tasks, such as making transactions, managing digital assets, and more, in a secure, decentralized environment.
The DApp Browser by Coinbase Wallet allows users to access a wide range of DApps, including popular decentralized exchanges, games, and other applications, directly from the wallet. The DApp Browser is integrated into the Coinbase Wallet app, making it easy for users to access and use DApps without having to leave the app.
It is important to note that not all DApps can be accessed through the DApp Browser and also that Coinbase Wallet is only compatible with Ethereum-based DApps, it doesn’t support other blockchain networks.
In summary, the DApp Browser by Coinbase Wallet is a built-in browser that allows users to interact with decentralized applications on the Ethereum blockchain directly from the Coinbase Wallet. This feature makes it easy for users to access a wide range of DApps without the need to install additional software.
Overall, Coinbase is considered a reputable and trustworthy digital wallet, but it is important to do your own research, read reviews, and also to follow the security best practices.
Coinbase Wallet Review: Pros and Cons
Coinbase Wallet is a popular digital wallet that has many benefits, but also some limitations. Here are some of the pros and cons of using Coinbase Wallet:
Pros
- Security: Coinbase Wallet is considered to be one of the most secure digital wallets available, with multiple layers of security to protect users’ funds.
- Reputation: Coinbase is a well-established and reputable company, and its digital wallet is widely considered to be trustworthy.
- Convenience: Coinbase Wallet is available on both mobile and desktop platforms, making it easy for users to access and manage their funds on the go.
- Insured: Coinbase is insured, which means users’ funds are protected in the event of a hack or other security incident.
- DApp browser: With the built-in DApp browser, users can interact with decentralized apps on the Ethereum blockchain directly from the wallet.
Cons
- The limited number of assets: Coinbase Wallet only supports a limited number of cryptocurrencies, which may be a limitation for some users.
- Fees: Coinbase Wallet charges fees for certain actions, such as buying and selling cryptocurrency, and sending or withdrawing funds, which can add up over time.
- Limited regions: Some assets may not be available in certain areas due to regulatory or compliance reasons.
- Centralized: As a centralized service, Coinbase Wallet holds the private keys of the users, which might not be suitable for some users who prioritize full control over their keys.
In summary, Coinbase Wallet is a secure and convenient digital wallet that is widely considered to be trustworthy, but it has some limitations, such as fees and a limited number of assets supported. Users should evaluate their own needs and preferences to determine if Coinbase Wallet is the right option for them.
Is Coinbase wallet safe and trustworthy?
Coinbase is considered to be one of the most reputable and trustworthy cryptocurrency exchanges and wallets. The company is based in the United States and is fully licensed and regulated, which provides an added level of security for its users. Additionally, Coinbase has implemented multiple layers of security to protect users’ funds, including two-factor authentication, biometric login, and the option for a hardware wallet.
It is also important to note that Coinbase is insured and has a strong track record of protecting its users’ funds in the event of a hack or other security incident. However, as with any digital wallet or exchange, it is important for users to take the necessary precautions to protect their own funds, such as using strong passwords, keeping their recovery phrase safe and not sharing it with anyone, and enabling two-factor authentication.
Coinbase wallet reviews
Coinbase Wallet is a widely used and reputable digital wallet that offers a variety of features to help users securely store, send, and receive a variety of cryptocurrencies.
Overall, Coinbase Wallet reviews are mostly positive for its security measures, user-friendly interface, and added features of the DApp browser. It also receives praise for its insurance and the convenience of being able to access and manage funds from both mobile and desktop platforms.
However, Coinbase Wallet also has some limitations, such as fees for certain actions, and a limited number of assets supported. Additionally, some users may not be comfortable with the fact that Coinbase holds their private keys, which means that users don’t have full control over their funds.
Coinbase wallet customer support
Coinbase Wallet provides customer support through various channels, including email, phone, and a comprehensive knowledge base. The company also has a dedicated customer support team that is available to help users with any issues or questions they may have.
Users can access the Coinbase Wallet customer support by visiting the Coinbase website and navigating to the “Support” section. Here, users can find answers to common questions, troubleshoot issues, and contact customer support for further assistance.
The customer support team can also be reached via email or phone, and in case of urgent issues, there is dedicated phone support available 24/7.
Coinbase Wallet also has a community forum where users can ask questions and share information with other Coinbase Wallet users.
Overall, Coinbase Wallet provides a variety of customer support options to help users with any issues or questions they may have. The customer support team is available to help users with any issues or questions they may have, and the company also provides a comprehensive knowledge base to help users troubleshoot common issues.
Coinbase wallet reviews on google play store
Overall, Coinbase Wallet is considered to be a reliable and secure option for storing and managing a variety of cryptocurrencies, but it’s important to consider your own needs and preferences before deciding if it’s the right choice for you. And coinbase wallet reviews on google is 4.3 start out of 5 stars.
coinbase wallet ios review
Coinbase wallet app review on apple store is 4.6 stars out of 5 starts which indicates towards the wallet legitimate.
One of the Safest Cryptocurrency Wallets
Safety is one of the most important factor when considering it to secure your crypto investments. And as per our research and coinbase wallet review, coinbase wallet is the safest digital wallet for you.
Coinbase wallet reviews on trustpilot
Coinbase wallet reviews on trustpilot is very limited. There are only 12 coinbase wallet reviews on trustpilot. And till now coinbase wallet has 2 start only on trystpilot inn reviews. You can check coinbase wallet reviews on trustpilot. Just have a look on the negative reviews about coinbase wallet on trustpilot-
Easy to use, clean interface design
Coinbase wallet is a software based hot crypto wallet. And in the review part it is most important to note how crypto wallet app work. Coinbase wallet app has very easy to use and clean interface and smooth design.
Coinbase Wallets Vs Other Wallets – Complete Analysis
Coinbase Wallet is a popular digital wallet that offers a variety of features to help users securely store, send, and receive a variety of cryptocurrencies. However, it is not the only digital wallet available and it’s important to compare it with other options in order to determine if it is the right choice for you. Here is a comparison of Coinbase Wallet versus other wallets:
In summary, Coinbase Wallet is a versatile digital wallet that offers a variety of features to help users securely store, send, and receive a variety of cryptocurrencies. It offers a user-friendly interface and added features such as a DApp browser, but other wallets such as hardware wallets, mobile wallets, desktop wallets, and paper wallets have their own specific features and it’s important to evaluate your own needs and preferences to determine which one is the best option for you.
How to choose the best crypto wallet?
Choosing the best crypto wallet depends on your individual needs and preferences. Here are some factors to consider when choosing a crypto wallet:
In summary, when choosing the best crypto wallet, it’s important to consider factors such as security, coin support, ease of use, privacy, recovery options, control over private keys, fees, reputation, and reviews if you plan to use DApps, a built-in DApp browser. By evaluating your own needs and preferences and considering these factors, you can choose a crypto wallet that best meets your needs.
Conclusion: Is Coinbase Wallet Right for You?
If you ar looking to invest in crypto and wants a best wallet to secure your crypto investment then coinbase wallet is for you. You can try it. It is free to use but charge for transactions. I hope our coinbase wallet review post has given you a wide aspect to understand each and every thing about coinbase wallet.
Is coinbase wallet insured?
Coinbase Wallet is not insured by the Federal Deposit Insurance Corporation (FDIC) or any other government agency. However, Coinbase does have insurance coverage for certain types of digital assets held in its custody. The company’s insurance policy covers losses resulting from theft, hacking, and employee fraud, and is underwritten by various insurance providers. However, it’s worth noting that insurance does not cover losses resulting from user errors, such as lost or forgotten private keys, or unauthorized access to an account. Additionally, the insurance coverage may not extend to all assets stored in the wallet.
Is coinbase wallet safer than coinbase?
Coinbase Wallet and Coinbase are both provided by Coinbase, but they serve different purposes and have different levels of security.
Coinbase Wallet is a software wallet that allows users to store and manage their own private keys. This means that users have full control over their funds and are solely responsible for their security. The wallet is designed to be user-friendly and easy to use, and it includes features such as a 12-word recovery phrase and encryption for added security.
Coinbase, on the other hand, is a cryptocurrency exchange and brokerage service. While it also allows users to buy and sell cryptocurrencies, it holds the private keys on behalf of its customers. This means that users do not have direct control over their funds and are trusting Coinbase to keep them safe. Coinbase has implemented security measures such as two-factor authentication, and insurance to protect against certain types of losses, but ultimately the security of your funds on exchange platforms is lower than having them in your own wallet.
In general, software wallets like Coinbase Wallet offer more security and control over your funds than exchange platforms like Coinbase. However, it’s also important to consider the trade-offs, as software wallets may require more technical knowledge and responsibility for security. Ultimately, the choice between a software wallet and an exchange platform will depend on your own risk appetite and needs.
Is coinbase wallet non custodial?
Coinbase Wallet is a non-custodial wallet. This means that users have full control over their private keys and are solely responsible for the security of their funds. The wallet does not hold or store user’s private keys on behalf of the user. Instead, the private keys are generated on the user’s device and are encrypted with a password set by the user. The 12-word recovery phrase that the wallet generates is also stored on the user’s device and should be kept in a safe place.
Non-custodial wallets like Coinbase Wallet give users more control and autonomy over their funds as they can access their funds directly, and also allow them to move their funds to another wallet or exchange. However, it also means that users are solely responsible for keeping their private keys safe, and if they lose access to their keys, they will lose access to their funds.
Is coinbase wallet a good wallet?
Coinbase Wallet is a well-established and widely used software wallet that is generally considered to be a good option for securely storing and managing cryptocurrencies. The wallet is provided by Coinbase, a reputable cryptocurrency exchange and brokerage company, and it offers a user-friendly interface and several security features, such as a 12-word recovery phrase and encryption. And it provides you many kinds of services and features also.
Is coinbase wallet safe & legit?
Coinbase Wallet is a legitimate and reputable software wallet provided by Coinbase, a well-established and widely used cryptocurrency exchange and brokerage company. Coinbase is a licensed and regulated company, operating in various countries and it has been in business since 2012.