What are the strengths of using the Coinbase Wallet?
As one of the world’s leading crypto exchange services, Coinbase already has a huge footprint on the industry. You can use the platform to buy and sell cryptocurrencies with Bitcoin at the forefront. It started as an exchange at first but it also became a software wallet.
Coinbase’s wallet is available across 32 countries and millions of users. Initially, it was only made for Bitcoin but it has now become an exchange for altcoins as well. This proves that Coinbase has a finger on the crypto market’s pulse as they know that altcoins are becoming more popular as well.
As an exchange, Coinbase is a proven service because they provide so much versatility to the crypto market. Beginners love Coinbase because they make the experience much easier and as they continue to embark on their crypto journey, they will still use it as their main exchange.
You can find out about the Coinbase vs Metamask wallet debate online but it’s hard to go against the former. Coinbase is such an established name in the crypto market now that it can the one-stop-shop for everything that you need with your crypto journey. You can already buy crypto coins there but it can also store them which makes for an easier process. Let’s dive further into what people see when they talk about Coinbase’s strengths as a wallet.
Coinbase Wallet is trustworthy
As you look into Coinbase Wallet, you can see that it is supported by Secure Enclave technology. This is crucial because that tech safely stores the user’s private keys. They will have to go through authentication points like two-factor authentication to control the access. There are times when SMS is used to verify as well which is also a reliable option. Lastly, a four-digit security PIN is also used, especially when the mobile app is used to help in authorizing transactions.
In the past, there have been hackers who tried to breach the Coinbase system but they did not succeed in doing so. Coinbase is one of the most formidable systems in the crypto world and they are doing everything possible to keep that perfect record spotless.
The wallet is safe and follows the best practices in safeguarding the cryptocurrencies contained. Users can safely store sensitive user data in the wallet because it encrypts the data well and it even creates backups. Coinbase themselves have ensured that the funds will be stored offline with the drives and backups placed in deposit boxes and vaults for safekeeping.
It is the best option for beginners
If someone is new to cryptocurrencies, it should be an easy answer when it comes to wallet recommendations. Coinbase is the perfect solution for that kind of problem because they have all of the newbie-friendly features. First of all, it can be downloaded as a smartphone app on both Android and iOS for free.
The app’s user interface is easy to navigate because everything is streamlined to make it friendly to the crypto newbies. They are laid out well and in the first few instances, there will be guides on how to use the app.
Coinbase makes the experience easier because users can trade cryptocurrencies from Bitcoin to the many altcoins in the market. The exchange and wallet even have their own Visa-backed debit card that can be used with Apple Pay and Google.
Since the wallet is integrated into the exchange, this process is much better than any other crypto wallet. Coinbase knows how to cater properly to new users and they have proven to be a reliable option over the years.
Coinbase Wallet is already proven
Ever since Coinbase was launched back in 2012, the company worked on getting the good word about cryptocurrencies out there. They have been proven to be arguably the best crypto exchange in the world. Since their wallet is intrinsically linked with the exchange, the quality of the wallet is also up there.
It also helps that the platform itself wants to help the new users learn more about crypto. When you log onto the app, you will see that there are helpful sections that provide information about crypto market and how it works.
It is hard to come up with a definitive answer to the Coinbase vs Metamask wallet debate but it’s challenging to find negative aspects from Coinbase. It will be interesting to see how future wallets will pan out because Coinbase is already one of the most popular ones today and its popularity will keep growing.