Coinbase Extension

Coinbase is known for its robust security features and user-friendly system. However, several security breaches over the years have proven it’s not immune to online threats.

Coinbase Extension

Meaning of Coinbase Wallet

Coinbase Wallet is a non-custodial mobile wallet and decentralized app (dApp) browser for managing and storing cryptocurrency assets. It was launched by Coinbase, one of the world's largest cryptocurrency exchanges, in 2018. Unlike a custodial wallet, where a third party holds your private keys and controls your funds, Coinbase Wallet gives you full control over your private keys, enabling you to securely store and manage your digital assets on your mobile device.

Coinbase Wallet supports many cryptocurrencies, including bitcoin, ether, and ERC-20 tokens. It also enables users to interact with decentralized applications (dApps) on the Ethereum blockchain, allowing for seamless integration between the wallet and various decentralized finance (DeFi) protocols, games, and other dApps.

Pros & Cons of Coinbase Wallet

Pros:

User-friendly interface: Coinbase Wallet has an intuitive and easy-to-use interface, making it simple for users to manage their cryptocurrency assets and interact with decentralized applications.

Decentralized: As a non-custodial wallet, Coinbase Wallet gives users complete control over their private keys, enabling them to store their digital assets in a decentralized manner.

Wide range of supported cryptocurrencies: Coinbase Wallet supports a wide range of cryptocurrencies, including bitcoin, ether, and ERC-20 tokens, making it a versatile wallet for managing different types of digital assets.

Cons:

Limited customer support: Coinbase Wallet's customer support is limited, which can be frustrating for users who encounter issues with the wallet.

No fiat support: Coinbase Wallet does not support fiat currencies, meaning that users cannot buy or sell cryptocurrencies directly through the wallet.

Limited security features: While Coinbase Wallet allows users to control their private keys, it does not offer advanced security features such as two-factor authentication (2FA) or biometric authentication.