Coinbase crypto exchange is widely used for trading cryptocurrencies. It is one of the largest trading platforms in the world. However, before you decide to work with it, you need to learn about its key features. Coinbase has its own wallet, where traders can hold their cryptocurrency. Traders Union analysts have prepared a Coinbase Crypto Wallet Review. In this article, traders will learn everything about its specifics.
Wallet versions and supported cryptocurrencies
There are two versions of Coinbase crypto wallet. Traders can use a mobile app, which is available for iOS and Android, and there is also the Coinbase wallet extension. The extension is available for Google Chrome and other Chromium-based browsers.
Coinbase crypto wallet supports over 150 cryptocurrencies, including the following:
- Bitcoin
- Ethereum
- Ethereum tokens (including ERC20)
- Ripple
- Stellar
- Litecoin
- Ox
- Polygon
- Dogecoin and others.
Coinbase crypto wallet can also be used to hold NFT.
Is Coinbase wallet safe?
The Coinbase crypto wallet is non-custodial. It does not transfer private keys; therefore the users always have full control of their finances. A client can set a PIN or a password for access. Biometric authentication is supported. The wallet supports FaceID and fingerprint technologies.
Coinbase crypto wallet supports two-factor authentication. It is an additional security option that has proven to be highly effective. You can also set a special security phrase that will allow you to restore access to the wallet.
Coinbase uses cold storage of cryptocurrencies, with 98% of client deposits held in special wallets on the devices where they are well protected. There have not been any hacker attacks or failures in the entire time of operation of the Coinbase wallet. Users did not lose their money as a result of hacks or other issues.
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