Crypto Academy Week 5 Homework Post for [@yohan2on]

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Hello..!!
My Dear Friends,
This is @eh-shohag from 🇧🇩Bangladesh

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Basic Concept

Coinbase Wallet puts you in control of your crypto assets. The application lets you access decentralized crypto apps (DApps) already using a browser. However, Coinbase has gone one step further with deep integration with the most popular DeFi projects. DeFi means “decentralized money,” and it was a heated trend in the cryptocurrency space. DeFi projects seek to reproduce traditional enduring financial products in blockchain. For example, you can borrow and lend money, invest in derivative assets and much more.

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A popular segment of DeFi projects has been providing compounds and protocols like DYDX. These protocols work pretty well like LendingClub but blockchain. Some users send money to a DeFi scheme to contribute to liquidity pools. Other users borrow money from this pool. Interest rates go up depending on supply and demand. With today's update you can contribute to making the protocol easier. Coinbase Wallet lets you select a cryptocurrency, compare interest rates across multiple DeFi protocols, interact with those protocols, and view your balances on a unified dashboard. You do not need to use Deep Browser in Coinbase Wallet. Interest rates will change over time. At any time you can check the current interest rate, see how much you have already earned and withdraw your crypto assets.

Brief History

Coinbase was founded by Brian Armstrong and Fred Ehrsom in June 2012. Ben Reeves, co-founder of Blockchain.info, was part of the original founding team, but later parted ways with Armstrong due to differences over how Coinbase Wallet should be operated. As a result the rest of the founding team continued Coinbase until 2012. In October 2012, the company launched services for buying and selling Bitcoin through bank transfers. In May 2013, the company received a 5 million investment from venture capital firm Union Square Ventures, led by Fred Wilson. December 2013 Coinbase receives 25 million from venture capital firm Andreessen Horowitz, Union Square Ventures (USV) and Ribbit Capital.

Security Issues

In case of USD account management, they will offer you USD wallet. Any sensitive information provided by the trader is stored on a server that is completely disconnected from the Internet.

In addition it protects information from online attacks. Now to get this benefit, Coinbase will usually take some control over your cryptocurrency assets. These are deposited in the Coinbase wallet. Which, of course, made the video an overnight sensation.

But wallets offer several benefits. One of which is that it will give you access to decentralized exchanges through which you can buy and sell tokens.

How to use Coinbase Wallet?

There is an app, you can download from here Coinbase Wallet

Gmail Verification & Primary Stage

Have you intall it? If yes, launch the app & click on "Get Started" You are required to sign in your name, gmail & password. The authority will send you a gmail.

Now visit your gmail. You can see an incoming gmail in inbox. Gmail will ask you verify. Easily we can verify. Just click on "Verify Button". After that you have to "Sign Up" with this gmail & own set password. During sign in & sign up : don't take any screenshots.

Pin & Biometric Setting : Strong Security

• To set biometric setting, first we have to set a 4 digits PIN. Mind it, don't take a screenshot for your security. They will allow us to transfer asset, open the app if we turn on the three button. Then our security level will be more strong.

Deposit or Fund Account

• A user interface will be shown after sign up. Click on "Fund Account" to make your first investment in your crypto asset. You can deposit your fund through scanning QR code or copying your address. This is your wallet address.

Bitcoin Watchlist & Chart

^{To see the bitcoin price in details, click on "Bitcoin". The below interface will be shown.}

The present price of bitcoin is $56965.82 & price is declining. $57000.00 presents the height price within 1 hour & the lowest price is $56357.58. We can see the chart considering 1 day, 1 week, 1 month, 1 year & all. Just click on 1D, 1W, following..Price line up means price increasing & down means decreasing.

How to see the current price of "STEEM & SBD"

^{Here some crypto coins are most tradeable & market prices. Market is up. We know that bitcoin is booming. It's a most trending crypto currency. However, if we want see the price of steem & sbd, click on "search button" in top-right side. My searched screenshot is showed below.}

The above picture tells us that the current market price of steem is $0.48 (BDT 40.32 Approximately). Its growing rate is +7.65% now. And the current market price of Steem Dollars/SBD is $8.05 (BDT 676.2 Approximately). Its growing rate is 21.73% now.

Conclusion

As for the positive aspects of this system, people have said that they prefer mobile apps for monitoring their accounts. Another plus is the free ability to transfer funds directly from one balance to another within your own profile. Coinbase has also begun to respond positively to low commissions for outbound transactions with speed and availability. Despite the dissatisfaction, the wallet of this system is very popular today, because it communicates with many payment structures that work with mobile phones.

N.B : All screenshot are taken from Coinbase Wallet App & edited by @eh-shohag.

In gratitude I would like to thank @yohan2on for disclosing the second chapter on DeFi. Thanks a lot.

Cc:
@steemcurator01
@steemcurator02
@yohan2on