description Coinbase Wallet Overview
Coinbase Wallet is a self-custody mobile application that allows users to store, send, and receive cryptocurrencies like Bitcoin and Ethereum by generating their own private keys. It’s designed for managing digital assets independently without relying on an exchange.
help Coinbase Wallet FAQ
Is Coinbase Wallet the same as having an account on the Coinbase exchange?
No, Coinbase Wallet is a self-custody wallet separate from the Coinbase exchange. With the exchange, Coinbase holds your private keys; with Coinbase Wallet, you generate and control your own private keys via a 12-word recovery phrase.
Does Coinbase Wallet support Ethereum ERC-20 tokens and NFTs?
Yes, Coinbase Wallet fully supports ERC-20 tokens, NFTs, and other Ethereum-based assets. The wallet also supports multiple blockchains including Bitcoin, Solana, Polygon, and various Layer 2 networks.
Is there a fee to use Coinbase Wallet?
The Coinbase Wallet app is free to download, but users must pay network gas fees for blockchain transactions such as sending cryptocurrency or interacting with decentralized applications. These gas fees go to network validators or miners, not to Coinbase.
What happens if I lose my phone with Coinbase Wallet installed?
You can restore full access to your wallet on a new device using the 12-word recovery phrase generated when you first set up the wallet. Without this recovery phrase, funds cannot be recovered, which is a fundamental characteristic of all self-custody wallets.
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