Coinbase Wallet Review [Everything You need to know]
Tags: bitcoinwallet, subtopic, wallet
Published: 2020-03-02 18:56:21

---
title: Coinbase Wallet Review [Everything You need to know]
published: true
date: 2020-03-02 17:36:49 UTC
tags: Bitcoin wallet,subtopic,Wallet,bitcoin wallet
canonical_url: https://blog.coincodecap.com/coinbase-wallet-review-the-best-bitcoin-wallet/?utm_source=rss&utm_medium=rss&utm_campaign=coinbase-wallet-review-the-best-bitcoin-wallet
---

[Coinbase](https://www.coinbase.com?utm_source=coincodecap.com) is building crypto first products since 2012. The team has built multiple world-class solutions for crypto trading, storage, and [payment](https://coincodecap.com/category/payment). Today, we will review the [Coinbase wallet](https://wallet.coinbase.com/?utm_source=coincodecap.com), its consumer-facing [crypto wallet](https://blog.coincodecap.com/tag/crypto-wallet/) for everyday users.

> [**Read Coinbase Wallet Reviews on CoinCodeCap**](https://coincodecap.com/product/coinbase-wallet-4)

### **Summary (TL;DR)**

- Easy Onboarding 
- Recovery phase backup on Google drive or iCloud
- Multi-currency support 
- Collectible (aka [non-fungible token](https://en.wikipedia.org/wiki/Non-fungible_token)) support
- Dapp browser built inside the app
- Avoid addresses using Username or [ENS](https://ens.domains/?utm_source=coincodecap.com)
- Multiple fiat currency support
- A non-custodial [crypto wallet](https://blog.coincodecap.com/tag/crypto-wallet/) with useful security features

### Installation

You can install the Coinbase wallet from either from [Playstore](https://play.google.com/store/apps/details?id=com.coinbase.android&hl=en_IN) or [Appstore](https://apps.apple.com/us/app/coinbase-wallet/id1278383455) based on the operating system you are using. 

**Note:**  Never install a wallet from unknown or third-party sources.

### Wallet Setup

Once installed, let’s set up our wallet. We have two options here either create a new wallet or import an existing wallet using a recovery phrase.

For importing an existing wallet, Coinbase provides two options.

- Restore from Google drive or iCloud
- Restore with Recovery phrase

Coinbase provides an option to back up your recovery phrase on your Google Drive or iCloud account. For our review, we will create a new wallet from scratch.

Here are the steps to create a new [Coinbase wallet](https://coincodecap.com/product/coinbase-wallet-4). 

- Accept Terms and conditions
- Create a new username
- Privacy setting (If other wallet users can search your username or not?). For now, let’s make it private.
- Add extra security, Fingerprint or PIN (If your device supports Fingerprint, then its a recommended option).

That’s all for our basic wallet setup, but before moving forward, let’s back up our recovery phrase.

![Step by Step Coinbase wallet setup](https://blog.coincodecap.com/wp-content/uploads/2020/03/coinbase-onboading-1-1024x410.png)<figcaption> Step by Step Coinbase wallet setup</figcaption>

### **Back up your recovery phrase**

We recommend backing up your recovery phrase. Your backup will be encrypted with AES-256-GCM encryption and accessible only by the Coinbase wallet mobile app. This backup can only be decrypted using your password.

Your cloud backup provider or Coinbase will not have access to your password or funds at any time, preserving your privacy and control. Only you know the password that decrypts your encrypted recovery phrase.

> **[Checkout best crypto wallets on CoinCodeCap](https://coincodecap.com/category/wallets)**

So while backing up your recovery phrase, please use a password that you can remember. For backing up your recovery phrase, go to settings → Recovery phrase.

**Note: ** Use your personal Google or iCloud account, not your company’s account. 

### Security

Coinbase wallet provides standard security features such as PIN and Fingerprint. If your mobile device supports Fingerprint, we recommend using Fingerprint over the PIN. 

In addition, the Coinbase wallet is a non-custodian wallet, so if you forget your PIN or lose your recovery phrase, the Coinbase team won’t be able to help you. Therefore, it is essential to backup your recovery phrase properly. 

## **Features**

Let’s review Coinbase wallet features now. The wallet is full of exciting features that make your life easier and provide you the best experience when dealing with cryptocurrencies. Let’s review these features. 

#### **1. Integration with your Coinbase Account**

You can connect your [Coinbase account](https://www.coinbase.com?utm_source=coincodecap.com) with [Coinbase wallet](https://wallet.coinbase.com/?utm_source=coincodecap.com) and transfer coins seamlessly. The Coinbase account is a custodian solution where the Coinbase wallet is a non-custodian solution. 

Hence you can buy cryptocurrencies (such as [Bitcoin](https://blog.coincodecap.com/tag/bitcoin/) or [Ethereum](https://blog.coincodecap.com/tag/ethereum/)) using your Coinbase account and use it via your Coinbase wallet. 

#### **2. Store your Coins and Collectibles **

Coinbase wallet supports multiple Cryptocurrencies. In addition, it also supports Collectibles (aka Non-fungible tokens). So now, you can see all your collectibles in one single place. 

![Cryptokitties on Coinbase wallet](https://blog.coincodecap.com/wp-content/uploads/2020/03/coinbase17-492x1024.jpg)<figcaption>Collectibles Support</figcaption>

#### **3. Dapp Store**

The wallet also allows you to discover [Dapps](https://blog.coincodecap.com/tag/dapps/) and interact with them inside the app itself. You can also bookmark your favorite Dapp. This feature makes the wallet interesting, especially for [DeFi](https://blog.coincodecap.com/tag/defi/) users.

> **Also read: [Best Smart Contract Wallets (DeFi Wallets)](https://blog.coincodecap.com/best-smart-contract-wallet/)**

It is an exciting feature for users as well as Dapp creators. Users can discover best Crypto Dapp, and at the same time, a Dapp builder can reach millions of users using the Coinbase wallet. 

![](https://blog.coincodecap.com/wp-content/uploads/2020/03/dapp-browser-492x1024.jpg)<figcaption>Dapp Browser</figcaption>

#### 4. **Use your Local Fiat currency**

When you create your Coinbase wallet, the default currency is USD, but you can change this using setting → Local currency. I hope Coinbase also provide multiple language options in the future. 

#### 5- **Search using Username or ENS**

While setting up our wallet, Coinbase asked us to create a username. Using this username, you can search other wallet users who have made their username public. 

In addition, Coinbase also supports ENS domain names. ENS is easy to remember strings representing a wallet address. 

Username and ENS enhance the user experience when dealing with cryptocurrency addresses.

#### **Advance Features **

Coinbase wallet supports the [Bitcoin Segwit addresses](https://medium.com/@buddhasource/bitcoin-legacy-vs-segwit-wallet-address-what-is-the-difference-cb2e71ab8381). Besides, there are some advance features for developers where you can use different wallet address and switch between Mainnet and Testnet.

> **Also read: [Best hardware wallet to secure your bitcoin](https://blog.coincodecap.com/best-hardware-wallet-bitcoin/)**

#### **Wrapping Up…**

Coinbase has one of the most effortless user onboarding and simplistic design. The wallet provides an awesome user experience with exciting features. 

One highlight of the wallet is the recovery phrase backup on the personal cloud. We think it will help thousands of new Crypto users not to worry about their recovery phase and become the industry standard for safely backing up the passphrase on the cloud.

Let us know what you think about our Coinbase wallet review in the comment section.

**Also, Read**

- **[Best Crypto Wallets](https://blog.coincodecap.com/best-crypto-wallets-app/)**
- [**Different Types of Crypto Wallets**](https://blog.coincodecap.com/different-types-of-crypto-wallets/)
- [**Best BTC Wallets For Android**](https://blog.coincodecap.com/best-btc-wallets-for-android/)
- [**An ultimate guide to Bitcoin Paper Wallet**](https://blog.coincodecap.com/what-is-bitcoin-paper-wallet/)


The post [Coinbase Wallet Review [Everything You need to know]](https://blog.coincodecap.com/coinbase-wallet-review-the-best-bitcoin-wallet/) appeared first on [CoinCodeCap Blog](https://blog.coincodecap.com).