Coinbase Wallet is a non-custodial mobile wallet proposed by Coinbase. Unlike the wallet that you can have on the exchange, this wallet is decentralized and let you have full control over your funds (you own the private keys). Let's discover the features of this wallet, much less known than its big brother Coinbase Exchange.
Please note that you don't need to have an account on Coinbase to use Coinbase Wallet.
Setup and usability
Available on Android and iOS, the app is very fast to setup.
First step, you have to chose your username allow you to use one of main feature of the wallet : send and receive cryptos from other users without use the addresses.
Next, just secure your wallet access with a figerprint or a pin.
That's all, your wallet is ready.
Welcome on your wallet. As you can see, I'm not rich... yet 😅
Like Coinbase Exchange, the user interface is pretty clean. It is very simple to navigate through the different menus and the app goes to the essentials which is ideal for new users.
The Wallet
Let's have look on the wallet itself. With it, you can store BTC, BCH, ETH, ETC, LTC but also your ERC-20 tokens and ERC-721 collectibles (for example, game items - which are separate with a specific tab).
As you can see, the app show you, in real time, the value of all your tokens in the local currency of your choice (USD, EUR, CNY, etc.).
To send or receive cryptos, it's easy. Just use your username (or your addresses in the application for each token). The possibility of using QR Codes is also present in the application.
If anyone feels generous enough to increase my DOGE wallet.
Feel free to tip 🐶
Finally, note the presence of a system allowing the transfer of your tokens directly from Coinbase.
Concerning security, a few interesting points. Transactions necessarily require your figerprint or pin. The recovery phrase is backed up on your iCloud account (for iOS users - I don't know if there is a similar feature on Android). Of course, it's also possible to make a manual backup with the 12 words.
Dapps Browser
This is one of the strong points of this Wallet, it has directly a browser to interact with Dapps. A store is present and allows you to try several services directly related to your tokens.
The Dapps browser, a great feature of Coinbase Wallet 👍
DeFi
In recent weeks, Coinbase Wallet has also been offering greater integration to allow users to use DeFi (decentralized finance) services. Especially to earn interest on the cryptos you own.
I haven't tried it yet, but I'm going to test it, especially since the BAT is listed on the service.
Earn some cryptos with Coinbase Wallet and DeFi 💰
Conclusion
I plan to keep this wallet in the future because I was seduced by its simplicity of use. The integration of decentralized applications is also very interesting. If you are interested to try this wallet, you can find it on wallet.coinbase.com.
Thank you for reading this article, I hope you enjoyed it !
If you have any questions, feel free to leave a comment 😁
