RateMyWallets

Coinbase

Coinbase Wallet

4.0|Software Wallet (Mobile App/Browser Extension)|Thousands of cryptocurrencies and NFTs across Ethereum (ETH), Polygon, Solana (SOL), Avalanche (AVAX), BNB Chain, Arbitrum, Optimism, and other EVM-compatible networks.

Coinbase Wallet is a standalone, non-custodial software wallet distinct from the Coinbase exchange account, offering a secure gateway to Web3, DeFi, and NFTs. Available as a mobile app and browser extension, it enables users to manage a broad spectrum of digital assets and interact with decentralized applications with the backing of a major industry brand.

Security Spotlight

Security Rating:
3.7 / 5.0
  • 12-word recovery phrase (seed) for full asset control.
  • Optional encrypted Google Drive or iCloud backup for recovery phrase.
  • Biometric authentication (Face ID/Touch ID) for app access.
  • PIN code protection.
  • Transaction signing requires explicit user confirmation.

Pros

  • •Strong brand backing from Coinbase, instilling user confidence.
  • •Supports a wide range of cryptocurrencies and NFTs across multiple blockchains.
  • •Integrated dApp browser for seamless Web3 interaction.
  • •User-friendly interface, especially for those familiar with the Coinbase ecosystem.
  • •Offers optional cloud backup for recovery phrase (encrypted).

Cons

  • •Separate from the Coinbase exchange account, which can be confusing for new users.
  • •As a software wallet, it is vulnerable to device compromise and online threats.
  • •Some advanced features or customization options might be lacking compared to niche wallets.
  • •Cloud backup, while convenient, introduces a third-party risk if not properly secured.

Full Review

Coinbase Wallet serves as Coinbase's non-custodial offering, empowering users with full control over their digital assets and an entry point into the burgeoning Web3 landscape. Crucially, it operates independently of a user's Coinbase exchange account, emphasizing self-custody. The wallet supports a vast array of cryptocurrencies, including popular tokens and NFTs across numerous EVM-compatible networks, making it a versatile tool for diversified portfolios. Its integrated dApp browser facilitates direct interaction with DeFi protocols, NFT marketplaces, and other decentralized applications, mirroring functionality found in competitors like MetaMask and Trust Wallet. The user interface is clean and intuitive, often familiar to those already accustomed to Coinbase's design language. A notable feature is the optional, encrypted cloud backup for the recovery phrase, offering a convenience factor for users concerned about physical seed phrase storage, though this introduces a reliance on a third-party cloud service. While the brand reputation of Coinbase provides a sense of reliability, it's essential to remember that as a hot wallet, Coinbase Wallet is susceptible to the same security vulnerabilities as any software-based solution, such as phishing or malware. It's an excellent choice for Coinbase users seeking to venture into Web3 while maintaining self-custody with a trusted brand.