What is Coinbase Wallet?
Coinbase Wallet is a non-custodial crypto wallet developed by Coinbase, designed to give users full control over their digital assets. Unlike custodial wallets where the platform manages your private keys, Coinbase Wallet allows you to manage your own keys—giving you complete ownership over your cryptocurrencies, NFTs, and decentralized applications (dApps).
Coinbase Wallet supports thousands of cryptocurrencies and tokens, including Ethereum (ERC-20), Bitcoin, Solana, and assets on BNB Chain, Avalanche, and more. It also functions as a Web3 browser, allowing users to explore the decentralized internet directly from their mobile devices or browser extensions.
Key Features of Coinbase Wallet
- Non-Custodial Control: Your private keys are stored on your device—not on Coinbase servers.
- Supports Multiple Networks: Ethereum, Polygon, Solana, Avalanche, BNB Chain, and more.
- Multi-Asset Support: Store and manage cryptocurrencies, stablecoins, and NFTs in one place.
- Web3 Integration: Access DeFi platforms, NFT marketplaces, and blockchain games directly.
- Secure Backup: Back up your recovery phrase securely and regain access to your wallet if your device is lost.
- Mobile and Browser Extension: Available on iOS, Android, and as a Chrome extension.
- Biometric Security: Use Face ID, fingerprint, or passcode for extra protection.
Coinbase Wallet vs Coinbase Exchange
It’s important to understand the difference between Coinbase Wallet and the Coinbase Exchange.
- Coinbase Exchange: A centralized platform where your assets are stored in a custodial wallet managed by Coinbase.
- Coinbase Wallet: A decentralized wallet where you control your private keys and own your crypto outright.
If you plan to trade frequently, Coinbase Exchange is ideal. But for long-term holders, NFT collectors, and DeFi users, Coinbase Wallet offers greater control and flexibility.
How to Set Up Coinbase Wallet
- Download the Coinbase Wallet app from the official website, App Store, or Google Play.
- Open the app and tap “Create New Wallet.”
- Write down your 12-word recovery phrase and store it securely offline. This is the only way to recover your wallet.
- Set a strong password or enable biometric authentication.
- Your wallet is now ready! Start receiving, sending, or exploring dApps securely.
Supported Assets and Networks
Coinbase Wallet supports thousands of tokens and major blockchain networks including:
- Ethereum (ETH, ERC-20 tokens)
- Polygon (MATIC)
- Solana (SOL)
- Bitcoin (BTC)
- BNB Chain
- Avalanche (AVAX)
- Fantom, Arbitrum, and more
You can also manage NFTs based on Ethereum and Polygon, view them in your wallet, and interact with NFT marketplaces like OpenSea.
Security Tips for Using Coinbase Wallet
- Protect Your Recovery Phrase: Write it down on paper and store it in a safe place. Never share it online.
- Enable Biometric Locks: Use Face ID or fingerprint to prevent unauthorized access.
- Watch for Scams: Always verify URLs before connecting to dApps. Avoid signing unknown transactions.
- Use Hardware Wallet Integration: For advanced security, connect Ledger or Trezor devices with Coinbase Wallet.
- Keep the App Updated: Regular updates help fix security vulnerabilities.
What Can You Do With Coinbase Wallet?
- Send and receive crypto instantly worldwide.
- Access DeFi apps like Uniswap, Aave, and Compound.
- Buy and store NFTs from OpenSea, Rarible, and others.
- Earn yield through staking and lending platforms.
- Participate in DAOs and decentralized governance.
Coinbase Wallet is your passport to the decentralized world, allowing you to explore the full potential of blockchain technology.
Frequently Asked Questions
Q: Is Coinbase Wallet safe?
A: Yes. It gives you full control of your private keys and offers security features like biometric authentication, encrypted storage, and secure backup.
Q: Can I use Coinbase Wallet without a Coinbase account?
A: Yes. You don’t need a Coinbase.com account to use Coinbase Wallet. However, you can connect the two for easier transfers.
Q: What happens if I lose my phone?
A: