Coinbase Wallet || Review

GitHub Repository:

https://github.com/CoinbaseWallet

Introduction:

Cryptocurrency have been making its way in our life in various ways. The development of it's technology aka BLOCKCHAIN have made a significant amount of impact in our life both in terms of financially and in terms of freedom as well. It has given us the chance to do whatever we want with our money without having to worry about any third party involvement. In other words, you have control over your digital assets at all times.

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Cryptocurrency are digital assets which have a market value and they can be converted from one cryptocurrency to another similarly it can be converted from crypto to fiat or vice versa. For that purpose there are various exchanges which are continuously making this kind of transactions 24*7 and 365 days. There are various exchanges and wallets available for exchanging/storing your cryptocurrency. Let's get to know one of them.

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Coinbase Wallet

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Store your crypto, in a App and have access to it any time you want. Coinbase also has an exchange which have been serving it's users for a long time. In addition of the Coinbase wallet feature it makes it a little more secure in handling your digital assets.

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I am a user of Coinbase for a very long time. Be that it may of popularity or easy to use, it is quite popular in my country as well. So, today's review it can be said of about sharing my experience of using coinbase with you all. I have been using their exchange (Coinbase) and I must say without some glitches once in a while, I am quite satisfied with their way of work.

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The procedure is quite simple and easy. To have access to Coinbase Wallet you will have to download the app in your phone. It has both the Android and IOS version available. Download the app from here.

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Let's get to the next steps of setting up an account.

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After the app is installed, create a new wallet. If you already have a wallet import your wallet, with recovery phrase that you saved earlier.

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Select the way you want to secure your wallet either with pin or fingerprint. I prefer to use pin rather than fingerprint. Once it is done you will be redirected to the next page where you can select your username for coinbase wallet. It shall take few moments to create your account on the chain. All the information of yours, will be stored on Ethereum blockchain (Anonymously).

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As soon as the account is created it shall be presented like the below image. If it's a new account the UI will look like the below image,no crypto would be there and the wallet will feel empty (I know the feeling). While before going any further, the very next step that you should do is, save your recovery phrase. As this will be only way that you will be able to log back in your account if you sign out or any accident happens with your account.

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For recovery phrase click on the settings or the third icon. You shall see the Recovery Phase. You can either save it manually or in google drive (I suggest you do manually). Save it in a safe place because if you loose it, there will not be a recovery process to gain access to your account meaning you will loose everything in your account.

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Adding coinbase account to your wallet

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This is the part where I like Coinbase. Not that I prefer to keep my Cryptocurrency in any exchange/wallet (that I do not have access fully) . While like the first image, once it is clicked to link the coinbase account a page will appear and on that page log in with your credentials (Email & Password of your coinbase account). Once it is done a pin code will be sent to your given mobile number in a sms. Input it and the next phase of security arrives, which is the new IP log in issue. You will have to authorize the IP from your email address.

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This additional security of coinbase gives some satisfaction to use it once in a while. In regard to that, I mostly use coinbase to exchange crypto into fiat. Like I stated above, coinbase is quite well known in my country and people prefer to use it very much for its easy UI and other relative facts.

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The information above should be sufficient enough for a user to use Coinbase wallet and have the user experience of coinbase. Like it is said, if you do not use a product you will never know how it serves the purpose.

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What I like about Coinbase wallet

As a new user this tool would be perfect to get to know a little more about crypto world and the user experience of a new user would be of satisfaction.
The additional 2 factor verification makes it a little more secure, while adding up the coinbase account with the wallet. (Yep, it’s available in other Apps as well but giving the popularity of it they sure are living up to it). There are few other security measures included in the app which is the lock method which is every time the phone locks you will have to log in back with your pass key which is safe and adds a little bit more security to your funds.
The support team is quite active as well. I have had issues regarding coinbase in the past but it was dealt with, thanks to the team.

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What I dislike about coinbase wallet

Though it is one of the biggest and adopted app available for crypto holders but compared to most other exchanges/wallets the number of cryptocurrency are limited in here. In addition to that the fiat deposit and withdrawal is also limited with few countries. I hope in the coming days they include much more countries in the list.

Conclusion

This app can be of use to anybody, even someone who has no experience with crypto as well. The layout and the procedure are very simple to go through and can make the best out of the App. I would recommend it to anybody to give it a try.

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Rating :I would give Coinbase Wallet, 4 out of 5.

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Some important links:

• Coinbase Wallet
• State of the DApps

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DISCLAIMER

This is not financial advice, nor a guarantee or promise in regards to any result that may be obtained from using the above content. The information provided here is for informational and entertainment purposes only. It should not be considered as financial and/or investment advice. No person should make any kind of financial decision without first consulting their own financial adviser and/or conducting their own research and due diligence.