Coinbase Wallet Review

In this article, we will take a look at how the wallet is and what users say about it with the Coinbase wallet review. If you’ve been in the cryptocurrency industry for a while, you’ve probably heard the name Coinbase a few times. Not on the ground either; One of the best cryptocurrency exchanges on the market!

“What is a Coinbase wallet?” you may ask. As the name suggests, it is a digital (hot) wallet that can store users’ cryptocurrencies. The main feature of the wallet is security. Although you can store your coins on an exchange, it is generally not recommended as there is too much risk of danger.

Now that we are talking about the main concept, we can move on to our Coinbase review article.

SUMMARY: Coinbase wallet is known as the safest digital currency wallet where you can store your crypto. It’s easy to use, well designed and has multiple security features (eg 2-FA) to protect your coins. Coinbase does not host many cryptocurrencies.

Good Points

  • Easy to use
  • Free to register and store crypto coins
  • Reasonable prices
  • Supports most of the main cryptocurrencies
  • High security

Bad Points

  • Few cryptocurrencies supported
  • “Hosted” wallet – Requires stable internet connection

Coinbase Wallet Review: Benefits

Let’s start our Coinbase wallet review article by talking about the features and benefits of the platform.

What you need to know from the beginning is that when you search for Coinbase, you will find yourself on the cryptocurrency exchange page by default. Often people associate this brand name with the stock market. Many users are unaware that such a wallet even exists!

However, the situation is very different! As you will learn in the Coinbase wallet review, the wallet has many different benefits. Let’s ask “Is the Coinbase wallet good?” Let’s start by addressing one of its most well-known benefits.

One of the Safest Cryptocurrency Wallets

Everyone knows that the term “cryptocurrency” often has negative connotations. Most of the connotations come from the fact that it is a highly unstable market. You can become rich one day and lose all your savings the next day.

Aside from the uncertainty of the market, there is another scenario; hackers.

The issue of cryptocurrencies is so complex that most people who get into it don’t know how to protect their Bitcoin or Ethereum (or any other cryptocurrency) from possible frauds and hacks.

“Is the Coinbase wallet good?” This is the “peak point” of our review, for which we sought an answer; The wallet stands out for its security.

For those who are wondering how Coinbase wallet is in terms of security, rest easy; often referred to as one of the safest hot wallets in the current market. Coinbase has multiple different security measures; two-factor authentication, multiple signatures, verification requests, etc.

The wallet has never been hacked or leaked before. Naturally, this factor adds plus points to the safety and reliability of the vehicle.

In some Coinbase wallet reviews, users mention that their account has been “hacked”. If you pass through these reviews without thinking, you will miss the truth of the matter. Most “hacks” are caused by bad passwords or similar issues.

In other words, it’s the user’s fault, not the platform’s.

“How is Coinbase wallet in terms of security?” I can say to those who are wondering: The company is making an incredible effort to create very strong and resilient crypto security technologies.

Easy to Use, Stylish Interface Design

As I mentioned earlier in the Coinbase wallet review, many people who jump into the world of cryptocurrencies are actually far from being experts in the field. Many users get lost in industry jargon and know-how.

“So what does this have to do with the Coinbase wallet review article?” you may ask. Many people say that the wallet is one of the easier tools in this respect.

Registration is quick and simple, and it’s generic too. The same transactions are applied as other crypto wallets on the market. All you have to do is download the app on your Android or iOS device (yes, the wallet is mobile based) and enter your personal information when prompted.

At the end you get start information and a key. In Coinbase wallet reviews written by users, it is stated that Coinbase offers two-factor authentication (2-FA) as an extra layer of security. After all, this guarantees the security of your crypto coins!

Another point that should be mentioned for the Coinbase wallet review is that the interface design of the tool is very stylish. The simplicity of the wallet also contributes to this. You do not get lost in different functions, you can easily access your money.

Crypto Wallet + Premium Exchange

“How’s the Coinbase wallet?” We brought this subject in the introduction part of our review, in which we sought an answer to the question. Let me explain.

Since you know what a Coinbase wallet is, the cryptocurrency exchange platform of the same name should not confuse you. The two tools work interactively with each other.

So what exactly does this mean? As mentioned in many Coinbase wallet reviews, once you create your Coinbase wallet, the services offered by the exchange are used much more easily and smoothly.

You gain access to a crypto vault and your stock market transactions go very smoothly. To tell the truth, some users say that Coinbase is actively “pulling” you onto the exchange platform. While it’s really annoying if you’re using another exchange, it can actually be a good thing considering the brand we talked about!

Coinbase Wallet Review: CONS

Throughout our review, we have always talked about the advantages that come with using Coinbase wallet. It’s time to examine the disadvantages.

To be frank, “Is Coinbase wallet good for security?” There are many notable disadvantages as we found the answer to the question VERY safe. However, certain negative aspects are mentioned in some Coinbase wallet reviews written by users. Let’s have a look.

Few Cryptocurrencies Supported

One of the most emphasized negative aspects of the use of Coinbase wallet is that it offers support for a small number of crypto coins.

What does “less” mean? At the time of writing the Coinbase wallet review, the wallet supports 8 cryptocurrencies and all ERC-20 tokens.

It’s actually not that big of a problem when you want to step into the crypto world. Because most newbies and investors use more familiar coins like Bitcoin or Ether.

“Hot” Wallet – Not the Safest Option

Coinbase wallet is one of the most secure wallets in the market. Really true. If you’re looking for a digital crypto warehouse, it really is.

Truth be told, while digital wallets are somewhat secure, they are far from the safest way to store your Bitcoin or Ether. The reason is that your cryptos are stored online. That means they can be hacked or stolen at any time, at least in theory.

So how to avoid such a thing? Simple; using a cold storage device.

Hardware crypto wallets are the safest alternative, period. The reason is that your coins are stored offline. No one can access because there is no internet connection.

But this is not the main problem. “How is Coinbase usage?” You may encounter the phrase “hosted” when asked. This is the main problem with the car.

Coinbase is a hosted wallet, meaning all your stored crypto and information are stored on a remote server that is constantly connected to the internet. It’s not ideal at all.

If there are any security issues and Coinbase’s servers are hacked, it could result in a large-scale hack. However, as we mentioned earlier in this review of the use of Coinbase, the company behind the wallet takes security very seriously. He added high-level measures to prevent such a thing from happening.

Final ideas

As you will notice, the topic of cryptocurrencies is indeed quite popular. It’s been like that for the last few years.

People are still skeptical of anything crypto related, coins included.

A huge plus as more secure and reliable crypto services appear every day. Services like these help show the world that the crypto universe isn’t just full of hackers trying to rob you, it’s full of amazing opportunities and technological innovations.

Even so, if you have read the Coinbase wallet review article and decided to use this wallet, all I can say is; Good luck to the hackers, they’ll need it!

You can keep your money safe by using a Coinbase wallet. Using the app itself is very easy. No “technological know-how” is required to use it properly.

Coinbase supports a small number of cryptos such as Bitcoin, Litecoin, and Ethereum. Unless you’re looking for some niche coins, this shouldn’t be a big deal. Coinbase wallet fees are also quite reasonable!

If Coinbase is just for your crypto, be sure to try the wallet! If you are someone who is more hardware-oriented, you can take a look at the best cold wallets in the market on our site.

Note: The information, comments and evaluations contained here are NOT in the Scope of Investment Consultancy. Keep following the SinceCoin.

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