With the rise of Crypto traders, the demand for crypto wallets is also at its peak. It is difficult for first-time users to evaluate which wallet is the most suitable one for them. The choice is a little difficult, however, the people who have decided on their crypto wallet as Coinbase Wallet should stay on the page.
This write is especially for the people who want more details on ‘How coinbase wallet works?’. So, if you are one of them then continue scrolling the write-up to get the details. It will explain all the procedures you need to know to start using the wallet easily.
To begin using this wallet you must do the Coinbase Wallet Extension download for iOS, Android, and Chrome so that you can create your account on it. And if you are ready then follow our written guide below:
Open the link https://www.coinbase.com/wallet
Press ‘Download Coinbase Wallet’.
From the new screen select where you want the wallet to be downloaded.
After selecting, a new window will be opened.
Follow the further prompts on the screen to complete the Coinbase Wallet app downloading process.
Coinbase Wallet Signup Process
Traders who are very familiar with dApps already know that the wallet set is easier if it is through the wallet extension than the mobile application itself. However, we do not mean that you should only opt for the wallet extensions. Follow the steps directed below to know how you can set up your new Coinbase Wallet account:
Open the installed wallet extension or the wallet application.
Press ‘Create Wallet’.
In the opened form fill all the details that are being asked correctly.
Then open the email ID that you have given in the registration form. Check your inbox for any verification emails.
Open the received mail and then tap on the provided link and it will automatically verify your account.
Soon, a new window with your 12-word Secret Recovery Phrase will be given that you have to store safely.
To check if you have stored the Secret Recovery Phrase in the correct order, you will have to pass a test by following the on-screen instructions.
Upon the completion of the test, create a password for the wallet account that will be used if you ever get logged out of your account.
Now, claim a username for the Coinbase Wallet account. Remember that every user has a different name making it easy for the other traders to verify the account they are sending crypto assets to.
Once you have executed these easy nine steps the crypto wallet account will be ready to be used by you.
What are the steps of Coinbase Wallet login?
You might get logged out of your account if not used it for a long time. In situations like these, you will have to execute the login process, and to do so, follow the guide:
Open the wallet application or the Extension as per your choice.
Enter all the details being asked on the screen for login purposes.
Check your entered details if no mistake has been found then move further to the wallet login.
Now just wait for a few seconds for the home page of your account to get opened.
Reasons for Coinbase wallet desktop not working
There could be several reasons for not working the Coinbase Wallet. And few of them are listed below:
Internet Connection is not strong.
High traffic on the platform and as a result it crashed.
The site is under maintenance by the developers.
If there is a login issue, then check the entered login credentials.
There could be many other possible reasons for the non-working and a few of them were listed above to solve them you try some of the common troubleshooting steps and if the site status is down, then you can check the operational status of Coinbase Wallet after waiting for some time.
The Coinbase Wallet allows users to secure their digital assets in the wallet. The wallet has several security layers that are being placed for the fund's security. The users are in full control of their accounts, denying the developers any authorization to your wallet account. Hence, you do not need to worry that you will be denied access to your stored digital assets. Also, no private data of the account is sent to any other database so that no hacker could get your account information to take all of your funds. So, without wasting any more time start with the wallet by downloading it directly through the link https://www.coinbase.com/wallet/downloads and then follow the guide above to know all the process. But do not use the wallet if you do not want to pay a high fee for the transaction processing.
Yes, the wallet is considered one of the safest wallets. From the list of all other software wallets present, this wallet is considered a safe wallet that will keep your funds protected. It has several security features such as 2-factor authentication, password protection, security key, and much more.
Is Coinbase Wallet worth it?
It is one of the most popular and demanding wallets among crypto traders. The wallet is the perfect choice for beginners who have just started their crypto trading. The wallet permits users to trade in plenty number of coins listed on it.
Where can I find my Coinbase wallet address?
Finding your wallet address is a simple and very straightforward process. Just open your wallet account and move to the profile section button. Once the new page is opened, click on the ‘Manage Your Profile button’. There you will be able to view the list of all your crypto addresses.
Can I withdraw from Coinbase Wallet?
Yes, you have the option to withdraw all of your deposited funds. To withdraw all the deposited funds, you will have to log in to your wallet account and move to the ‘Balance’ section. Then tap the ‘Withdraw’ button, you can now fill up the rest of the details to complete the withdrawal.
What are the disadvantages of Coinbase wallet?
The only disadvantage of the wallet is that it has high transaction fees. So, if you are not comfortable enough to spend extra money to transact via this wallet, then it is suggested that you should find a little more cost-efficient wallet.
Why is it so expensive to use Coinbase wallet?
The wallet is continuously in demand among crypto traders and hence the number of wallet users is increasing from time to time. Thus it also results in a rise in the volume of crypto trading. And high volume of crypto trading results in high fees.
How do I convert my Coinbase wallet to cash?
Open your wallet account and tap the option of ‘Buy/Sell’. Then press ‘Sell’, choose all the names of the assets that you want to sell, and then enter the total amount. Then confirm all the selections and proceed to press the ‘Sell Now’ button.