Coinbase Just Released A Crypto Wallet. Should You Use It?

in #ethereum3 years ago (edited)

cbw.PNG

Coinbase is currently one of the largest players in the US Crypto space, offering exchange and token custodian services. Well, announced today, Coinbase has released their newest product - Coinbase Wallet (https://wallet.coinbase.com).

Coinbase Wallet allows users to store Ethereum based tokens, and provides wallet-integrated web browsing. This means, you can easily and seamlessly purchase cryptokitties based on an all-in-one wallet/browsing experience.

The Coinbase Wallet technology is not new, however. Trust Wallet (recently purchased by Binance), among others have been on the scene offering near exact capabilities, however Coinbase brings with it a trusted brand familiar to many US based token holders.

Should I Use Coinbase Wallet?
With any new tech, it may be best to wait and see. Hackers will likely try to exploit the newly deployed Coinbase Wallet, and until vetted by the crypto-community, you may be safer storing coins on other hot wallet (or recommended cold storage) alternatives. That said, it is worth noting that Coinbase's wallet solution is leveraged from their recent acquisition, Toshi, which initially developed their own wallet.

So, how do you feel about Coinbase Wallet? Do you plan to useCoinbase Wallet over existing aternatives?

Lastly, as a quick reminder, please consider storing your tokens on cold storage alternatives. I recently posted an article that offers viable options that can reduce your risk of hacked accounts: https://steemit.com/cryptocurrency/@myhaxdontwork/man-loses-usd24-million-in-crypto