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Coinbase Wallet For Beginners: The Complete Guide

Created by the leading US-based cryptocurrency substitute, Coinbase Wallet is quickly becoming a choose self-custody wallet among users .
It offers a very familiar exploiter have to existing solutions, which makes the overall transition seamless for those who ’ ve already worked with a self-custody wallet. furthermore, it carries the reputation and confidence instilled by the Coinbase brand .
Coinbase Wallet was launched in 2018 and has managed to become one of the best self-custody solutions presently available in the market .
Some of its features include but are not limited to :

  • Fully-developed mobile application
  • Support for major non-EVM compatible cryptocurrencies (Bitcoin, Dogecoin, Ripple, etc)
  • Option to transfer assets from the Coinbase CEX quickly and easily
  • Fiat on-ramp in all 86 countries where Coinbase operates

In this guidebook, we will take a closer look at how to set up Coinbase Wallet as a browser extension and on your smartphone .

Coinbase Wallet as a Browser Extension

For those of you who prefer interacting with the huge populace of Web3 via PC, installing the Coinbase Wallet as a browser annex is the most logical choice .
To do indeed, you should install the Coinbase Wallet extension from the Chrome Web Store. Be peculiarly careful and always triple-check the links you ’ re downloading the extension from. Coinbase Wallet (1)
The only official Chrome Web Store link for the Coinbase Wallet elongation can be found here .
once on the landing page, just click on the “ Add to Chrome ” clitoris and confirm the initiation .
From here, you have two options :

  1. Create a new wallet
  2. Import an existing wallet

How to Create a New Wallet?

Let ’ s first see how to create a new wallet. a soon as you hit the gloomy button, you will be prompted to create a username. This is how other users can find you and send you cryptocurrency .
Please keep in judgment that you won ’ thyroxine be able to change your username after this !
once you ’ re happy with your choice, hit put in. nowadays, you will be given a 12-words semen phrase. Make certain to write these down in the accurate arrange they appear, double-check every letter, and store them safely. Losing this seed phrase means that you will no long have access to your cryptocurrencies, and there is nothing Coinbase or anyone can do to restore it .
Coinbase Wallet (2)
deoxyadenosine monophosphate soon as you have that done, you are ready to continue. The next measure is an extra security layer added by Coinbase Wallet to make sure that you wrote the seed phrase down correctly .
You will see a bunch together of beat words, and you will have to click on the first and the death news from your source phrase .
After that, you will need to enter a strong and guarantee password. It ’ mho recommended that you use lower and upper-case letters, numbers, and particular characters for extra protection. Once everything is all set, this is what the extension looks like :

To check your address, just hover over your diagnose in the peak forget corner, and you will see both your Ethereum and Solana addresses .
Coinbase Wallet (4)
You can send tokens to these addresses from any other wallet to fund your Coinbase Wallet. additionally, you can besides add funds through Coinbase Pay for a seamless decree on-ramp, as we mentioned at the begin .

How to Import from Existing Wallets?

For those of you who already have a self-custody wallet but it ’ s other than Coinbase Wallet, it ’ sulfur easy to import it and access your funds .
All you need to do is access your privy recovery phrase ( seed idiom ) for that other wallet. so, for exemplar, if you have a MetaMask wallet that you want to import into Coinbase Wallet, you will have to input the 12-word semen phrase for that MetaMask Wallet .
Coinbase Wallet (5)
once this is done, you will have to select a username and create a password to access the wallet .
You can besides import from other wallets such as :

  • Phantom Wallet
  • Solflare Wallet
  • Trust Wallet
  • Ledger Hardware Wallet

The Coinbase Wallet Mobile App

Using the mobile app is just as easy. You will have to download it first : use either Apple ’ s App Store or Google ’ sulfur Playstore, depending on whether you use an iPhone or an android device .
From there, the steps are pretty like to the ones described above .
Coinbase Wallet (6)
If you want to create a new wallet, you will first have to set a PIN or enable biometrics. once this is done, you will have to write down your seed phrase to access your wallet .
If you want to import an existing wallet, you can just follow the steps outlined above as they are similar .
From the Coinbase Wallet mobile app, you can easily send and receive cryptocurrency. You can besides connect your Coinbase report to transfer assets quickly and securely .
The mobile app besides allows you to trade different cryptocurrencies through an integrate DEX application, making it easy and quick to access diverse assets.

There ’ mho besides an NFT yellow journalism that allows you to navigate through your collections of diverse non-fungible tokens .
This is pretty much everything you need to know about setting up your Coinbase Wallet. once you have all of the above done, you can begin interacting with assorted Web3 applications that require some screen of self-custody wallet connectivity .
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terms ).

source : https://leowiki.com
Category : Economy

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