Coinbase Wallet: Setup Your Crypto Wallet Now | Best Crypto Wallets

Most people who are already trading in the cryptocurrency market are aware of the importance of holding a crypto wallet. A crypto wallet not only stores your purchased crypto assets but also ensures the safety of the assets dumped into it. But, the real confusion arises when you do not which wallet you should go ahead with, whether you should pick a hot wallet or a cold wallet. In this context, the questions that might come into your mind are endless.

But, there is one answer to all your questions- Coinbase wallet. This wallet is always there by your side and will help you in storing a wide range of crypto assets without having to keep your peace of mind aside.

So, in today's post, I will be sharing some exclusive details on how you can start using the Coinbase wallet from scratch.

Wondering what a Coinbase wallet is and what are some of its features? Don't worry, we have dedicated this section for you to understand some important details about it. Coinbase wallet is a digital hot cryptocurrency wallet that allows you to work with Bitcoin, Ethereum, all EVM-compatible networks, Dogecoin, Litecoin, Ripple, and Stellar blockchains. The wallet is highly compatible with Chrome browser, Android, and iOS devices. This wallet can be categorized as a decentralized wallet and charges nominal Network and Variable fees. The best thing about using this wallet is the option to seek customer support when you fall prey to any critical situation.

The wallet works in association with the Coinbase Inc. company which makes it a trustworthy destination to dump all your purchased assets. Now, you must be wondering how to get started with it. Well, the whole process is pretty simple and requires very less effort.

Want to know how that is done? The following are sections that will guide you through the whole process.

As said already, the Coinbase wallet extension is only available for Chrome browser users, hence, we will show you the steps to get the extension added to your Chrome browser:

• First of all, you need to go to the official Coinbase wallet website

• The website can be accessed by navigating to https://www.coinbase.com/wallet

• Either hit the "Download" button or select "Download Coinbase wallet"

• Choose Chrome web browser to get the extension for it

• And then, select the option of "Add to Chrome" > "Add extension"

This way you can easily install the Coinbase wallet Chrome extension on your device.

Yes, you can get the Coinbase wallet app downloaded on your mobile phone. All you have to do is get the app installed via the Google Play Store or the App Store. If you are unsure whether you are downloading the authentic app or not, then you should go to https://www.coinbase.com/wallet from a browser on your mobile.

On this site, select the "Download" button and then choose one of the application store icons. This way you can easily download the authentic Coinbase wallet app on your device.

If you are going to use this wallet for the first time, then you can create a new wallet by referring to the following instructions. Else, import your wallet using your wallet's secret recovery phrase. Here's what you need to do:

• Begin the process by opening the wallet software on your device

• Now, you need to select the "Create new wallet" option

• Thoroughly read the terms and policies of this wallet and accept them

• Choose a username for your wallet

• Submit that username and then choose the username preferences

• Next up, select a security method and then you will be shown a secret recovery phrase

• Immediately create a copy of this backup phrase

• Re-enter this phrase to confirm it and you're done

Signing into your Coinbase wallet is not rocket science if you know the correct process and have access to the correct login credentials. So, what you have to do to access your wallet is to open the wallet extension or its mobile app. After this, you need to complete the biometric authentication process. As soon as you do it, you will be landed in your wallet.

In case you have been logged out of your wallet, you can enter the Coinbase wallet login passcode to access your wallet. On the other hand, if you have forgotten the login passcode, you can import your wallet by using the 12-word secret recovery phrase which was provided to you at the time of the wallet creation process.

If you wish to receive funds in your Coinbase wallet then you can do so by sharing your Coinbase wallet address. The wallet address is the username that you picked when you first created your wallet on the platform. In addition to that, you can also generate a wallet address for receiving specific crypto assets.

With your username as the Coinbase wallet address, you can surely receive both crypto assets as well as NFTs in your wallet. To know your username, just sign into your wallet and share your username with others so that they can find you easily.

I hope you found the given details informative and now you are all ready to start your journey with Coinbase wallet. If you still have queries, then you surely can read the given frequently asked questions and get to know more about this wallet. Since this is a non-custodial wallet, you will never be able to recover your funds if you ever lose them. Hence, it is suggested that you never share the details of your funds, the private keys, and the secret recovery phrase of your wallet. All of these are sensitive pieces of information that should not be revealed at any cost.

What does Coinbase Wallet do?

To put it short, we can say that the Coinbase wallet is a platform that safely stores your crypto money. It is a free digital wallet that falls in the category of a hot wallet. The wallet comes with an in-built web browser that allows you to work with decentralized apps. Not only Coinbase users, but any crypto trader could use it at his convenience.

Is Coinbase and Coinbase Wallet the same?

While Coinbase works as a crypto brokerage giving you the ability to buy, sell, swap, stake, and do a lot more with your crypto assets. On the other hand, the Coinbase wallet is a free crypto storage that lets you store a huge collection of crypto funds and withdraw them as and when needed. So, we can conclude that Coinbase and Coinbase Wallet are distinct.

Can I use Coinbase wallet on desktop?

Coinbase wallet is available in two formats i.e. a web browser extension which is available for Chrome browser and a mobile-friendly application. This app is available for Android and iPhone users. So, to use the Coinbase wallet on a desktop, you can surely get the wallet through its Chrome extension.