Coinbase Wallet- A Key To Managing The World Of Crypto

Published: 2023-04-07
Views: 845
Author: Mikelawrence
Published in: Finance

Since the time when the crypto industry started to expand a little, traders were introduced to digital wallets which eventually help them to store the purchased cryptocurrencies. Thus, while exploring these cryptocurrency wallets, we came across one wallet which definitely is the top pick for crypto investors of all levels i.e. Coinbase wallet. Now, most of you must have heard of Coinbase which is definitely a very popular crypto exchange, and similar is the popularity of its wallet service as well.

With that understood, let us now take a step forward and have a glance at the key features of this wallet service so that you can step forward and learn whether you should use it or not.

Why should you download Coinbase Wallet?

Today, we have access to a lot of paid and free cryptocurrency wallets, and all these wallets come packed with a lot of features and services. So, you might have a question in your mind about why should you use this wallet instead of any other:

• Not just crypto coins or tokens, but this can be a good storehouse for your NFTs as well
• The wallet supports a great collection of crypto tokens along with a wide range of dApps
• It is a decentralized wallet that is easily accessible on a desktop as well as a smartphone
• Comes with high-end security features so that you can store your digital assets with complete peace of mind
• A beginner-friendly wallet that only charges the network fee

The first steps to get started with this wallet

Here are the primary steps that you need to take in case you wish to use this wallet for securely storing your crypto money:

1. To begin with, you need to download the Coinbase Wallet first
2. For this, go to the Coinbase wallet homepage i.e. https://www.Coinbase.com/wallet
3. Click the "Download Coinbase wallet" button and open the same file
4. Then, click the "Create new wallet" button and then accept the given terms on the next page
5. Now, it's time to choose a new username for your wallet and click "Next"
6. After this, choose whether you wish to keep your wallet "Public" or "Private"

Note: If you choose the "Public" option, users would be able to find and send you crypto. On the other hand, if you choose the "Private" option, your address would not be discoverable.

1. Then you can choose how you'd like to protect your wallet- Use Face ID/ Create Passcode
2. After this, choose "Backup now" and then choose a backup location
3. When given the seed phrase, write it down with caution on two pieces of paper and keep them separately
4. Your wallet is now successfully created and ready to use

If you wish to use this wallet through the wallet extension, then you can download and add it to your web browser and then use the steps given above to set up your wallet.

How to import an existing Coinbase wallet?

If you want, you can easily import an existing Coinbase wallet, only if you have the secret recovery phrase of the wallet with you. To do so, all you need to do is follow these steps to access the wallet on your device:

1. You can start by opening the Coinbase wallet extension.
2. After this, find and tap on the "Import an existing wallet" button
3. On the next screen, very carefully enter the 12-word secret recovery phrase
4. Click on the "Import Wallet" button and then pick your username
5. Submit and complete the process with some easy prompts

Conclusion:

Viola! You have just created your Coinbase wallet successfully and learned how to access it just by using your secret recovery phrase. We hope you gained the necessary information about this wallet through this informative post.