So Coinbase of course doubles as a wallet and also an exchange. It's probably one of the better known services to most involved with crypto and even those who are not involved with it. I've seen it advertised on Facebook, and just about anywhere ads can be placed.
But did you know there is literally a wallet app for your phone for Coinbase? So they have 4 different versions of themselves. The app which is basically exactly the same as its website except more mobile friendly, of course the website which is the main option for computers, Coinbase Wallet, which is simply just a wallet that supports more variety then the application or website and doesn't support changing one crypto into another unless you use an outside source, and also of course Coinbase Pro.
One has to wonder why they can't just have 1 seamless application and then have the website.
The website/application can be connected to your wallet but you do have to reconnect it every single time you want to do anything between the two, and in order to move money to one or the other you still need to pay the miners fee and the gas fee.
Of course, it doesn't take a lot of experience to know that every transfer costs something in the blockchain. A miner fee and of course the 'gas' fee. So, having to move all assets from online to the wallet doesn't appeal to me, and given the extreme cost of the miner fees of late with Eth it isn't worth doing anyway. Which I wouldn't mind in all honesty. People have to make money and I don't mind having my assets split. I have around 7 separate wallets at the moment for that very reason.
However, needing to connect my wallet to my online account/application every single time I want to do something between the two is just silly in my opinion.
I like Coinbase, but the website and the application share amounts between the 2 while the wallet is more of a separate entity, which is just inconvenient for me.
I'm sure these 2 things are trying to improve 'security'. But if you want to have a smooth experience you won't find it between these two systems. I use the app more then online now that I have it, but online has the added security of if I lose my phone then I don't lose everything. (If you write down your seed, email, and password you won't lose everything with Coinbase regardless) But my general recommendation for these 2 platforms is that you treat them as if they are separate.
They are very different applications. Coinbase online has the option to change the different cryptos into whatever you like that they support, while the wallet actually supports more variety. And yes you can transfer from one to the other, just don't mind needing to connect them every single time you want to do something and don't mind all the fees needed for the transfers.
The same permissions you allow for Coinbase online will be applied to your wallet with them as well. And they both conveniently remember your payment options, but can't seem to stay in sinc with each other. Ironic how that works. When they stand to make money they make it as smooth as possible for their systems but when it comes to your convenience and your money well security dictates smoothness goes out the window. Let's just say I think we should be able to make the decision whether Online stays connected to the wallet or not. Some of us appreciate the 'security'. Me personally, I don't need 2+ from the exact same publisher that do separate things all of the time without taking my convenience in mind. If I want to consolidate my resources later, I will likely lean toward one of the applications I am a member of that makes everything 1 smooth transaction. But maybe that's just me?
It's all about opinion and preference, I honestly don't think the wallet adds anything. One could argue that it is safer from hacks but the truth is the web and cell phones are not all that hard to hack into. My meaning is if someone knows how to hack into one they likely know how to hack into the other.
The most secure wallets are ones you can download onto your computer, and even safer still are the hardware wallets, which are essentially flash drives. I know I intend to get a hardware wallet as soon as I hit my goals. I only trust devices so far.
If I have to simplify later I will likely just go with the website on my computer and the android app on my phone, although I do also like the wallet for different reasons, I just wish that they all could be combined seemlessly into one application.
I have no experience with Coinbase Pro for a few reasons. One of them being I like the option to earn some crypto in exchange for learning about it. Besides that I have enough Coinbase applications, all free, without also dipping my fingers into the paid version of the application.
