Use Coinbase Wallet to store and protect altcoins
Coinbase has always been on the upward curve since its inception, and it has acquired a global reputation for providing the best cryptocurrency exchange platform in the entire world. It is the only platform that offers users to choose among the many altcoin variants that they can invest and trade-in. It is always considered best to have a safe place to keep and carry our funds/money, which is why we have wallets, purses, etc. Now, that we’ve entered a more digitized age, we have seen money getting digitized and here, we’ll be talking about one of the most efficient digital wallets that have ever existed- Coinbase Wallet. You’d learn what this service is, the features that it entails, and a few more significant details that can help you use it.
Explaining what is the Coinbase Wallet
To top the priority list of Coinbase services, the focus has always been on providing easy and smooth continuing operations. And all the other Coinbase services have been put in place based on how much user satisfaction that one service can yield. Also, we are all aware of the threats that our highly technical world consists of. This was the reason for the ideation of a safe digitized location to put your crypto funds and keep them protected. And so Coinbase came up with its wallet service- the Coinbase Wallet.
Learn about the traits entailed with Coinbase Wallet
Enlisted below are the major characteristics that Coinbase Wallet has been created with:
- This service is an exclusively built digital safe for keeping your crypto funds.
- It’s designed to work as a medium for trading and earning interests on DEXs and assets.
- The pre-requisites for the wallet service does not include creating a Coinbase account.
- Access to the free crypto exchange application gets easy for all crypto enthusiasts through the wallet medium.
When you start using the Coinbase wallet, your crypto experience gets affected too. And here’s how:
- You get exposure to a vast variety of crypto tokens including BCH, BTC, ETC, LINK, UNI, USDT, TLC and so many more.
- You’ll be eligible to put biometric authentication in use and choose for or against the optional cloud backup feature so that your private ke4ys get stored on the “Secure Enclave”.
- Another fun addition to your crypto experience is that you get access to a ton of digital collectibles- Kitties and/or Punks.
Get to know how does Coinbase wallet work
As you know that there are no mandatory requirements to have a Coinbase account, you should also know that using the Coinbase Wallet is not that difficult. For starters, all you have to do is get it downloaded on your mobile phones, install it and get it ready to be used for storing, sharing, trading and investing in the crypto variety available on Coinbase. Another great thing about this exclusive service is that users from different exchange platforms can be entitled to benefit from this wallet service by using it. You have to simply go on to create a Coinbase wallet address that hasn’t been taken before by any other user.
What should you know about Coinbase wallet address?
A wallet address on Coinbase works as the unique username that you can use to send out crypto, trade-in them and invest in. These addresses can be generated with each of your trading transactions and at some point, you might notice that your account has been associated with multiple such addresses for receiving crypto. Also, keep in mind that these addresses need to be compatible with the variety of cryptocurrencies that you desire to use. Your wallet address plays a crucial part in the Coinbase identity verification procedure.
Comparing the Coinbase Wallet with Coinbase
You all know that Coinbase is an exchange platform with the largest variety of cryptocurrencies for you to buy, sell, trade and invest in. It is a platform that has been well-known for selling altcoins in exchange for your fiat currency. It shows you the market trends and price fluctuations in cryptocurrencies to help you make the right investment and trading decisions.
On the other hand, Coinbase Wallet is a service that the brand came up with to provide the ultimate safe digital storage space to all the users as well as to non-users. And that is why you are not restricted to have a Coinbase login account to use the wallet service. It offers to keep your altcoins safe on your device (on and offline)rather than saving them in your Coinbase account.
Getting crypto from Coinbase to your Coinbase Wallet
Enlisted are the steps you’d have to undergo to get your crypto funds from your Coinbase account to the Coinbase wallet after you link bank account to Coinbase:
- Get the wallet app installed and launch it on your phone.
- Spot “Settings” and hit on the “Buy or Transfer” key.
- Decide on any of the compatible crypto variants to send.
- Go for “Continue” and Keep up with the prompts.
Coinbase has been at the front of its line when it comes to providing the largest altcoin collection with the most efficient and effective services that have ever existed for cryptocurrency exchanges. The detailed read above has been focused on introducing you to the Coinbase Wallet service, its functioning, about the wallet address, comparison between Coinbase and its wallet service, and end with transferring crypto from your Coinbase account to the wallet.