All you need to know about Coinbase wallet at a glance

Nowadays, investment and trading associated with cryptocurrency have become really popular and are done by investors all across the world. And when it comes to cryptocurrency its storage and safety are also really important issues that should be seriously taken care of as cryptocurrency is a valuable asset. And for this purpose, there are crypto wallets that are used for the safe and secure storage of cryptocurrency. And, Coinbase wallet is one of the best crypto wallets in the world. In this blog, we are going to describe Coinbase wallet and its characteristics.

What is Coinbase wallet?

First of all, we would like to make the difference between Coinbase and Coinbase wallet really clear. Coinbase is a web-based platform used for the purpose of crypto exchange. This platform gives users the ability to buy, sell and trade cryptocurrencies.

Whereas, Coinbase wallet is a cryptocurrency wallet whose purpose is to store cryptocurrency in a safe and secure manner. It comes in the category of the safest crypto wallets in the world. Since it is associated with the Coinbase exchange platform, users consider it to be a safe place to store their cryptocurrency. It makes use of hot storage for the storage to store cryptocurrency. So, we can also call it a hot crypto wallet.

Prime features of Coinbase wallet

• If we go by the reviews, Coinbase wallet is the best wallet for crypto storage because of it having some highly-performing features. It has robust security and takes full care that it being a hot wallet does not become a reason for hacking incidents.
• The best feature of Coinbase wallet is that it does the management of private keys and storage of cryptocurrency directly on the device of the user. It is a hot wallet with hardware wallet compatibility which supports hardware wallets like KeepKey, Ledger, and Trezor.
• Coinbase wallet can also be linked to bank accounts that support cryptocurrency. The wallet also provides its users with various features using which they can buy or sell cryptocurrency at profitable margins. And, it also supports fiat currencies like US Dollars (USD).
• One more important feature of the wallet is that it makes its users capable of storing digital collectibles. Non-fungible tokens (NFTs) are becoming popular at a rapid pace in the market which involves digital consumers. Coinbase wallet gives its users the ability to store these NFTs in a proper manner. In addition, it also helps them buy or sell these NFTs on the internet.
• The wallet provides storage services with full-fledged security. There is proper protection given to private and public keys. The strongest security feature made by Coinbase is the Secure Enclave feature. In addition, a shield of biometric protection is also involved in the protection arrangement.

 

Read More: Cash app is a stockbroker and payment app whereas Coinbase is used as a crypto

exchange and both of the platforms have custodial wallets. If you’re looking for an alternative

to the Coinbase wallet, you can use the wallet of the Cash App Login platform which supports

Bitcoin to send, receive or hold.

Conclusion

We have made a full-fledged effort to explain to you all the important things which you need to know or should know before you make a decision of using Coinbase wallet. Though we have highly recommended Coinbase wallet in our content, we would still suggest you to do your own research too before making a choice.