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Hello Steemians,

This is my first Homework Task for @yohan2on. I am happy to write this post to complete his homework task & am excited to take part.

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Coinbase Wallet

Coinbase Wallet

Introduction

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Coinbase Wallet is one of the best mobile wallets for cryptocurrencies at our convenience. Coinbase Wallet allows us to securely store, send and receive Ethereum-based ERC20 tokens, Stellar Lumens (XLM), Ether (ETH), Ether Classic (ETC), XRP (Ripple), Litecoin (LTC), Bitcoin Cash (BCH), and Bitcoin tokens (BTC).

All of your digital assets in one location

Coinbase also has a website called "Coinbase.com" & Coinbase App for crypto traders to buy and sell cryptocurrencies. We can store our cryptocurrencies securely on Coinbase Wallet without worrying about managing our private keys. Coinbase.com and cryptocurrency smartphone applications are available in more than 100 nations.

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Security Features

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Coinbase Wallet is a dedicated app that allows us to store and explore the decentralized network with a dapp browser.

We don't need a Coinbase account to use the Coinbase Wallet app. Coinbase Wallet allows us to manage our private keys and store crypto assets directly on our devices, not through centralized brokerage or exchange.

We cannot bind Coinbase Wallet to our bank accounts to buy or sell cryptocurrencies with US Dollars or any other fiat currency. Coinbase Wallet can be downloaded and used anywhere in the world.

It's a user-controlled, non-custodial product. The app creates a 12-word recovery phrase and only given us, access to our account and moves the collected funds. Coinbase will never have access to this code, and will not be able to transfer our funds even if we lost our Recovery Keys and ask them to move our funds.

They've also created an encrypted Google Drive and iCloud phrase recovery backup function to help protect against keys loss. We have asked to back up our recovery phrase using both the cloud backup function and to write down our recovery phrase and store it in a safe location.

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Why should we use Coinbase Wallet?

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Coinbase Wallet is a software that gives us access to a wide range of decentralized innovations to buy and store our cryptocurrencies, search decentralized apps (DApps), shop in stores that accept cryptocurrency, and transfer crypto to anyone in the world.

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How do we start using Coinbase Wallet?

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Coinbase Wallet is available on Google Play Store & Apple App-Store

We will have to search and install the "Coinbase Wallet — Crypto Wallet & DApp Browser" app on our device.

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It will ask us to accept the terms & conditions and after accepting the same, it will allow us to set a username for our wallet.

Then on the next page will ask us to choose our privacy preference. It will give two options one "Public (Recommended) & Private.

If we select "Public", other wallet users can search us by our username and trade with us & if we select "Private", other users can not search us by our username. It will be hidden from the public wallet users.

After selecting the privacy preference, it will ask us to create a six-digit wallet ping to secure our wallet.

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_{Our Coinbase Wallet is ready}

From the wallet, we can send and receive our digital currencies to anyone in the world.

At the bottom of the application, we will have 3 options. 1st is for wallet, 2nd is for DApp Browser, & 3rd one is settings.

Before using this application, please make sure to back up the security keys as advised, and enable all the security features available under the settings to secure our wallet. Then we can explore all other features securely without any fear.

It is one of the best Crypto Wallets with improved security and a lot of features. It very to diffluent to write everything in a single post. But I definitely recommend at least give try to this one. You will not regret your choice.

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Thank you professor @yohan2on for the wonderful lecture & thanks to all for reviewing my post & for your support! Steem On....

Thank you!
@ghostfacer99
Member: Steeming India Community

My post & comments are set to power up to 100%. Your contribution would be very much appreciated.