Cybercrime is on the rise and this calls for some serious actions on the part of online traders. If you are trading cryptocurrency, digital assets that depend completely on online operations, then you must look out for a crypto wallet. And believe me, the best wallet out there in the crypto industry is none other than the Coinbase wallet.

Those who have been dealing in the crypto industry for a long now must be aware of the popularity and reliability factor of the Coinbase exchange. From the same brand, comes the Coinbase wallet extension. Hence, if you are considering this wallet as your primary choice, then take a look at the section to follow.

A Coinbase wallet is a self-custody hot crypto wallet that is counted as the safest amongst many other wallets out there. The wallet, not only allows you to manage and store your crypto private keys but also helps you store Non-Fungible tokens.

Not to forget, the reason why this wallet is all the hype among traders is because of the fact that it comes with a wide range of security features and you can use it to connect to a wide set of Decentralized applications without any hurdles.

There are many reasons that make this wallet a top choice among crypto investors and these creatures or reasons are listed below for your convenience:

•         Usability and availability- Using this wallet is extremely simple because of its simple layout and user interface. The wallet is available in the form of a Coinbase wallet extension and a mobile app making it easily accessible.

•         Free to use- Anybody around the globe is free to use this wallet and he does not need to pay any fees to use this wallet or store their crypto in it.

•         Crypto support- Unlike MetaMask and many other crypto wallets, this wallet supports multiple crypto assets meaning that you can easily store a wide selection of crypto on this wallet.

•         World-class security- Yes, the wallet offers top-notch security to all the private keys or the crypto assets that you have stored over this wallet.

Now that I have discussed all the features and benefits of using this wallet, it is time now that we should take a look at how we can use this wallet on a mobile phone.

1.       Go to the Google Play Store or App Store on an Android/ iOS device

2.       Look for the authentic Coinbase wallet and download it

3.       Open the downloaded app and tap the “Create new wallet” button

4.       Then, use the given option to pick your desired username

5.       After setting up your wallet name, back up your Secret Recovery Phrase very carefully

6.       For this, go to the wallet “Settings” and select your name

7.       Then, choose the “Recovery Phrase” option to reveal the Seed Phrase and then back it up

8.       If on iOS, you can save it on iCloud

Since the Coinbase wallet extension is currently available only for the Chrome web browser, therefore we have listed below the steps for getting the extension and setting up the wallet on this browser-

1.       From your Chrome browser, go to https://www.coinbase.com/wallet/downloads webpage

2.       Hit the option referred to as “Download for Chrome”

3.       The Chrome Web Store will now show up on your screen

4.       Now, click the “Add to Chrome” button present there

5.       For confirmation, choose the “Add extension” or “Yes” option on your screen

6.       In a while, the Chrome extension will be added to your browser

7.       Pick the “Create wallet” option after opening the extension

8.       Choose a username for your wallet

9.       Create a resilient Coinbase wallet login  password to access your wallet

10.   Back up the Secret Recovery Phrase and that’s all

After discussing the basic procedure to create a Coinbase wallet, let us now take a dig into learning the basic procedure to transfer your crypto from an exchange to your Coinbase wallet-

1.       First, you should open your crypto exchange e.g. Coinbase

2.       Select the “Send” option and then choose your preferred crypto

3.       Enter the Coinbase wallet address which you can fetch from the “Receive” section on the wallet platform

4.       Input the amount and confirm the transaction

Coinbase wallet is the perfect hot crypto wallet for storing a wide range of crypto assets and NFTs. I hope this guide has given you deep insights into using the wallet as a new user.