Coinbase Wallet Review

Coinbase Wallet (formerly known as Toshi) is one of the most secure crypto wallets to store digital currencies. Primarily used to store Ethereum, ERC20 tokens and other digital collectibles, recently, Coinbase announced that from February 2019, it will also start supportignBitcoin as well. Even though the Coinbase Wallet is an app wallet, it offers full protection for cryptos using advanced security features similar to the hardware wallets like Ledger Nano S or Trezor.

The wallet can be used to receive tokens bought from other exchanges or directly from ICO token sale events. Apart from that, Coinbase wallet allows users to interact with Ethereum-based DApps (Decentralized Applications) with its integrated DApp browser.

To use the Coinbase Wallet, it is not mandatory to create an account on its respective exchange. As the wallet uses standalone software, it can be downloaded and installed by anyone, without any geographical restriction and stored on any IOS or Android device. Because of its simplicity and ease of use, the Coinbase Wallet is a good choice for novice traders who would not like to spend money to buy a Ledger hardware wallet. This wallet will keep your cryptos safe and allow you to send or receive digital currencies anywhere in the world. Apart from that, Coinbase Wallet allows users to sign messages with their private keys.

How does Coinbase compare to other crypto wallets?

It is noteworthy to point out that this crypto wallet is different from the exchange wallet available on Coinbase.com. The main difference between the two is that the exchange wallet will store private keys Coinbase’s servers, whereas the Coinbase Wallet will store the keys on the user’s own device. Additionally, the latter wallet allows users to move assets from their existing wallet apps like Metamask, MyEthereWallet to it with ease.

It displays the current price of the digital assets in your local currency. It supports more than 100 different currencies including EUR, GBP, USD, AUD, and CAD. Moreover, it allows users to buy and sell tokens from leading decentralized exchanges. The Coinbase Wallet app is available for free download on both Google Play Store and iOS App Store.

Supported Cryptocurrencies

Currently, the Coinbase Wallet allows you to store Bitcoin, Ethereum, ERC20 tokens and ERC 721 collectibles. The wallet can also be used to receive tokens bought from the ICO token sale event. Support for Bitcoin Cash and Litecoin will be added very soon.

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Connectivity

The Coinbase Wallet can be installed on iPhone, iPad and iPod Touch, provided that the device runs iOS 11.0 or later versions. To install on Android phones and tablets, it requires at least the Android 6.0 version.