Coinbase Wallet - Your key to the world of crypto
This wallet is a top choice for those who prefer a low-cost wallet. It is a non-custodial wallet that encourages users to store their crypto assets in the wallet however they want. In this blog, we will tell you the reasons why you should use this Wallet and how you can withdraw the received funds from the wallet. Hence without wasting a second let's continue with our blog.
Why Coinbase Wallet?
You must be confused about which wallet you should go for because there are a large variety of options to choose from. Examples of some popular wallets are MetaMask Wallet, Trust Wallet, and many more. So here we are giving you a list of reasons for using this wallet. Given below is the said list:
More than 100,000 digital assets can be stored and secured safely and even gives you access to many decentralized applications.
The wallet supports numerous numbers of popular coins such as Binance Smart Chain, Dogecoin, Litecoin, Stellar, Ethereum, Bitcoin, etc. Along with this Etherem layer - 2 solutions such as Optimism, and Arbitrum.
Polygon and Ethereum-based assets can be swapped directly on the platform because of the decentralized feature.
Assets that are Non-Ethereum or Polygon can be purchased from the wallet. Users can even earn interest on their digital assets via staking.
The wallet can be used for free and even the displaying of NFTs on your Polygon and Ethereum blockchain is free. Though fee may be charged for swapping assets and trading.
Even the security system of Coinbase Wallet is the best for users. At the time of account creation, the platform will ask you for setting up your biometrics for account security. And the best part is that even if the server of the Coinbase Wallet gets hacked, your funds will still be stored safely.
Another benefit is that your privacy will be maintained on this wallet because your email address and mobile number are not needed for you to use this wallet.
Funds Withdrawal Process
The following steps should be performed if you want to withdraw the money from your wallet:
Log into your wallet account.
Go toward the Balance section.
Now tap the withdraw button.
A new window will be opened automatically and will ask you about the amount you want to withdraw and the place where the funds should go.
Though point to be noted that it is only a Coinbase commerce account. Therefore linking your bank account is not possible to receive withdrawal funds. You can transfer the withdrawal funds from your wallet to your Coinbase account and then withdraw them through your linked bank account.
There is no maximum limit set on the amount that can be withdrawn. You can take out all the funds available at any point in time. Though there is a limit on the minimum amount that is to be withdrawn in a single transaction. The said limit is $0.10 which could be fulfilled easily by the users.
If you are thinking that the process of withdrawal is for free then you are wrong. Coinbase Wallet charges 1% for the conversion of your digital crypto assets to the currency and with it, standard transaction fees would also be charged.
You may think that the fee charged by the wallet is high but there is an option available to customize the fee to be paid which also depends on how long you can wait for the transaction to be completed.
Summing it up
The help page of Coinbase Wallet is attractive and also has blogs that provide solutions to the common issues faced by users. So the users can look for their issue in those blogs and if the solution is given for it then you should try to execute it. Along with the blogs, a feature of live chat is also available, and a customer care phone number that users can use to give a call to them and ask for their help.