Since there are plenty of crypto wallets to choose from, you need to make sure which one is fulfilling your crypto storage needs in the most apt way. Today, through this write-up, we'll be discussing
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If you have been into crypto trading for some time now, you must be aware of the significant value each crypto asset holds. Hence, it becomes more than necessary to take the safety of your crypto assets seriously. Whether you hold a small number of crypto assets or a large one, you need to be wary of its security. Since crypto assets are prone to hacks, if they are kept on the exchange, therefore, crypto wallets were developed.
Since there are plenty of crypto wallets to choose from, you need to make sure which one is fulfilling your crypto storage needs in the most apt way. Today, through this write-up, we'll be discussing a very famous hot crypto wallet- the Coinbase wallet. The wallet is available as a Coinbase exchange and app which means you can either use it on your desktop or on your mobile phone.
With that said, prior to learning how to use it, let's check out some interesting features and benefits of this wallet.
If you use this wallet, you'll be provided with 2FA service which restricts unauthorized access to your funds stored in the wallet
After setting up your wallet via the Coinbase extension, you'll be provided with a multi-signature access request service
As we know this wallet is backed by Coinbase, therefore, we do not need to get worried about the safety factor of this wallet
In addition to that, the wallet provides robust security to all your funds and you should note that no hacking incidents have been reported since it came into existence
Though it is a hot wallet, you can still connect it to a hardware wallet to add some more layers of security to your private keys or funds
As explained in the introductory part of this read, the wallet service can be utilized by installing the Coinbase extension or the Coinbase wallet mobile app. So, grab your smartphone or PC, and do as directed below:
Reach the https://www.coinbase.com/wallet/downloads website
Choose among Download for iOS/ Download for Android/ Download for Chrome options
To download the Coinbase extension, choose the "Download for Chrome" option
Otherwise, download the mobile app by picking the relevant option
To get the extension, select "Add to Chrome" on the resulting page
Then, you may choose the "Add extension" option
Further, you can just wait and let the internet do its job
As soon as the Coinbase extension is added or the app is downloaded, you can set up your wallet or import your wallet using its seed phrase. If you want to learn how to set up your Coinbase wallet, check out the details in the next section.
Here is the most appropriate way through which you can create a new Coinbase wallet:
Initially, you need to open up the Coinbase extension or the app
Pick the "Create new wallet" option
Go through their policies carefully and then accept them
Further, you can pick a relevant username for your wallet
After submitting the username, you can choose your preferred security method
When you've shown your backup phrase, create its backup
That's all folks!! You are good to go
The conclusion that can be drawn after reading this post is that you should make sure to carry out enough research about the platform you are going to trust your funds with. In case you are not sure about which wallet to choose, you can give the Coinbase extension wallet a try and it will surely live up to your expectations.
