Coinbase Wallet For Beginners: The Complete Guide

Created by the leading US-based cryptocurrency exchange, Coinbase Wallet is cursorily becoming a prefer self-custody wallet among users .
It offers a very familiar exploiter experience to existing solutions, which makes the overall transition seamless for those who ’ ve already worked with a self-custody wallet. furthermore, it carries the reputation and assurance instilled by the Coinbase post .
Coinbase Wallet was launched in 2018 and has managed to become one of the best self-custody solutions presently available in the commercialize .
Some of its features include but are not limited to :

  • Fully-developed mobile application
  • Support for major non-EVM compatible cryptocurrencies (Bitcoin, Dogecoin, Ripple, etc)
  • Option to transfer assets from the Coinbase CEX quickly and easily
  • Fiat on-ramp in all 86 countries where Coinbase operates

In this guide, we will take a closer count at how to set up Coinbase Wallet as a browser extension and on your smartphone .

Coinbase Wallet as a Browser Extension

For those of you who prefer interacting with the huge global of Web3 via PC, installing the Coinbase Wallet as a browser extension is the most coherent choice .
To do therefore, you should install the Coinbase Wallet elongation from the Chrome Web Store. Be peculiarly careful and always triple-check the links you ’ re downloading the extension from. Coinbase Wallet (1)
The only official Chrome Web Store link for the Coinbase Wallet extension can be found here .
once on the landing foliate, merely click on the “ Add to Chrome ” button and confirm the initiation .
From here, you have two options :

  1. Create a new wallet
  2. Import an existing wallet

How to Create a New Wallet?

Let ’ s first gear see how to create a new wallet. a soon as you hit the bluing button, you will be prompted to create a username. This is how other users can find you and send you cryptocurrency .
Please keep in mind that you won ’ t be able to change your username after this !
once you ’ re glad with your choice, hit take. now, you will be given a 12-words seed phrase. Make indisputable to write these down in the exact order they appear, double-check every letter, and store them safely. Losing this seed phrase means that you will no long have access to your cryptocurrencies, and there is nothing Coinbase or anyone can do to restore it .
Coinbase Wallet (2)
a soon as you have that done, you are quick to continue. The next dance step is an extra security layer added by Coinbase Wallet to make sure that you wrote the seed phrase down correctly .
You will see a bunch together of beat words, and you will have to click on the first and the death son from your seed give voice .
After that, you will need to enter a strong and secure password. It ’ mho recommended that you use lower and upper-case letters, numbers, and limited characters for extra protection. Once everything is all adjust, this is what the reference looks like :

To check your address, simply hover over your diagnose in the top left corner, and you will see both your Ethereum and Solana addresses .
Coinbase Wallet (4)
You can send tokens to these addresses from any other wallet to fund your Coinbase Wallet. additionally, you can besides add funds through Coinbase Pay for a seamless decree on-ramp, as we mentioned at the begin .

How to Import from Existing Wallets?

For those of you who already have a self-custody wallet but it ’ s other than Coinbase Wallet, it ’ randomness easy to import it and access your funds .
All you need to do is access your secret recovery phrase ( seed phrase ) for that other wallet. so, for case, if you have a MetaMask wallet that you want to import into Coinbase Wallet, you will have to input the 12-word seed idiom for that MetaMask Wallet .
Coinbase Wallet (5)
once this is done, you will have to select a username and create a password to access the wallet .
You can besides import from other wallets such as :

  • Phantom Wallet
  • Solflare Wallet
  • Trust Wallet
  • Ledger Hardware Wallet

The Coinbase Wallet Mobile App

Using the mobile app is precisely as easy. You will have to download it first : use either Apple ’ s App Store or Google ’ second Playstore, depending on whether you use an iPhone or an android device .
From there, the steps are pretty exchangeable to the ones described above .
Coinbase Wallet (6)
If you want to create a newfangled wallet, you will foremost have to set a PIN or enable biometrics. once this is done, you will have to write down your seed phrase to access your wallet .
If you want to import an existing wallet, you can just follow the steps outlined above as they are like .
From the Coinbase Wallet mobile app, you can easily send and receive cryptocurrency. You can besides connect your Coinbase bill to transfer assets promptly and securely .
The mobile app besides allows you to trade different cryptocurrencies through an incorporate DEX application, making it easy and flying to access diverse assets.

There ’ randomness besides an NFT check that allows you to navigate through your collections of assorted non-fungible tokens .
This is pretty much everything you need to know about setting up your Coinbase Wallet. once you have all of the above done, you can begin interacting with assorted Web3 applications that require some kind of self-custody wallet connectivity .
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Category : Finance

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