What is Coinbase Wallet?
Coinbase Wallet is a self-custody crypto wallet designed to give users complete control over their digital assets. Unlike the custodial wallet provided by the main Coinbase app, where Coinbase manages the private keys, Coinbase Wallet stores the private keys locally on the user's device. This ensures that only the user has access to their keys and funds, offering greater security and privacy.
Coinbase Wallet supports a wide range of blockchain networks, including Ethereum, Bitcoin, Solana, Dogecoin, and all Ethereum-compatible networks such as Avalanche, Fantom, Polygon, Arbitrum, and Optimism. This multi-chain support allows users to manage a diverse array of digital assets within a single wallet.
The wallet provides seamless integration with decentralized finance (DeFi) platforms, enabling users to engage in liquidity pools, borrow or lend crypto, and earn yield. Additionally, it supports a broad array of decentralized applications (dApps), facilitating a comprehensive exploration of the decentralized web. Users can also manage their NFTs across multiple networks, with features like grid view for NFTs, custom playback controls for audio NFTs, and tools to discover new and trending mints.
Coinbase Wallet is available as both a mobile app and a browser extension, ensuring accessibility across different devices. The user-friendly interface allows for easy management of crypto assets and interactions with dApps. Users can link their Coinbase Wallet to their main Coinbase account to transfer funds seamlessly. The wallet also supports purchasing crypto using various payment methods, including bank accounts, local payment methods, and card payments in over 130 countries.
In terms of security, Coinbase Wallet emphasizes user control and privacy. As a self-custody wallet, it requires users to securely store their private keys and recovery phrases. The wallet does not collect or store any personal information, reducing the risk of data breaches.