Coinbase Wallet Review 2022: Pricing, Features, Pros & Cons

Coinbase is one of the most popular cryptocurrency wallets in the world. The wallet has been around since 2012 and allows users to buy, sell, send, receive and store digital currency. Coinbase also provides a variety of tools that help with your day-to-day crypto trading as well as some useful features for storing your digital assets.

Coinbase Wallet Overview

The Coinbase wallet is available for Android and iOS smartphones. The app allows you to create an account, send and receive digital currency and store it in the wallet. You can also transfer funds between your Coinbase account and other wallets that support the XRP Ledger such as Ledger Nano S or Trezor hardware wallet.

Features

The Coinbase wallet is an easy to use app that allows you to buy, sell and transfer digital currency. The wallet also has a variety of tools and features that make it useful for trading. Some of the key features include:

  • Buy & sell cryptocurrency on one platform, which makes it quick and easy to get started with your first purchase
  • Securely store digital currency in the Coinbase vault
  • Easily transfer funds from other wallets into your Coinbase account
  • View real-time pricing charts for all cryptocurrencies available on the exchange
  • Track recent transactions and balance information on each Bitcoin or Ethereum address

Pricing
Coinbase offers two accounts: Coinbase Account and Coinbase Pro. The Coinbase Account is free to sign up for. If you want more advanced features such as access to the vault, buying and selling cryptocurrency or trading cryptocurrencies, then you will need a Coinbase Pro account.

Fees

The Coinbase wallet does not charge any fees. The only fee you will incur is when you send or receive digital currency to another address. In order for an action such as sending funds to another wallet to be successful, the recipient needs to have enough XRP Ledger compatible hardware wallets, like a Ledger Nano S or Trezor device that are connected and then signed in with their account details. Once this has been completed successfully, the transaction request will be sent and confirmed by the network.

Security

The Coinbase wallet is a secure app. It uses the same encryption technology as Gmail and Google Drive. The Coinbase team has also made it their priority to keep all of your sensitive information safe and private. They have implemented additional security measures that include:

  • Two-factor authentication (2FA) to improve your account security – Only storing one backup key for each vault, which means if you lose access to one device, you still have access to the other keys – Allowing users with 2FA enabled full control over their account via email

Customer Support
Coinbase has a large customer support team that is available to provide you with advice and assistance as needed. The support staff is also on hand to help you with any issues that may arise, ensuring your account remains secure.

Pros And Cons
Now that the cryptocurrency market is booming, more and more people are trying to get involved in this exciting new industry. However, it can be difficult to know which cryptocurrency exchanges to use, as there are many different ones out there.
Pros

  • You can easily create an account at the Coinbase website using either a username or email address. This means you don’t have to create another login when signing up for their Android or iOS mobile app. The app is available in over 30 different languages so if you are not able to read English then there is a translation feature available within the app so you can still access your account.
  • The Coinbase wallet is a secure, easy to use app that allows you to buy, sell and transfer digital currency. You do not have to download an additional piece of software. This means it is easy for new users to get started with the platform and start trading immediately after signing up.
  • Easy to use app No fees On-boarding process improved significantly since last year More functionality than other cryptocurrency apps Available on all devices

Cons

  • Limited countries for users Disadvantages of using Coinbase Pro Tends towards novice traders who may find it difficult without assistance Features
  • Securely store your digital assets in the vault
  • View real-time pricing charts for all cryptocurrencies available on the exchange
  • Track recent transactions and balance information on each Bitcoin or Ethereum
  • There are no fees on the Coinbase platform for buying or selling cryptocurrency. However, there are other costs associated with using the app such as transaction fees if sending funds from one address to another. These costs vary depending on the amount being transferred, but they range between $0.25-$2 per transaction depending on your country of residence (and therefore which network you are connected through).
  • Supported Coins
    Ethereum
    Polygon
    Bitcoin
    Dogecoin
    Litecoin
    Stellar Lumens
    Ripple network

Coinbase Wallet Vs Other Wallets 

When it comes to finding the best cryptocurrency wallet, there are a number of factors that you need to consider in order for this decision to be the correct one.

The three main elements that you will want to pay attention too are security, ease of use and cost effectiveness.


Wallet Security
The most important aspect when thinking about cryptocurrency wallets is their level of protection from outside threats.

This means that they must provide both simple and advanced levels of security so that your funds cannot be stolen by hackers or other malicious parties.

There are many different types of wallets out there on the market at this time, but some have been shown to be more secure than others; which ones should you choose?

Is Coinbase Wallet Trustworthy?

The Coinbase wallet is a secure app. It uses the same encryption technology as Gmail and Google Drive. The Coinbase team has also made it their priority to keep all of your sensitive information safe and private.

Frequently asked questions

Yes, there is an Android version which is available for download from Google Play Store . There are also iOS versions available for both iPhone and iPad users across the world. To help you with your decision process, we have included some screenshots below so you can see how easy it is to use this application.

Yes, you can. The Coinbase wallet is available for both desktop and mobile users. If you are not able to download the app from your mobile device then there is also a website version that allows you to create an account and manage your funds through their secure web browser.

If you want to get your money out of a Coinbase wallet, the easiest way is to sell bitcoins on an exchange. You can then transfer the bitcoins into a personal bank account or move them into your own digital wallet.

Yes, Coinbase Wallet is free to use. In fact, it’s a secure way to store your bitcoin and Ethereum. So if you want to start using cryptocurrency but don’t know where to begin, Coinbase Wallet is an easy place to start.