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This rating describes our personal assessment of the user-friendliness of the product. How easy is the onboarding process? How modern is the user interface and is it easy to use? Are all the important functions quick and easy to find? We ask ourselves all these questions in order to give a personal rating from 1 to 10 points.
For products or services in the crypto space, trust and security should be the biggest factors in the selection process. Since we could not seriously evaluate the technical security of a platform or product, we analyze publicly available factors such as security features, location, regulation, certifications, audits, team/company, general reputation and, of course, track record.
Crypto doesn't have to be cryptic. Especially for beginners, the first contact with the crypto world can be overwhelming. With this rating, we give our assessment of how easy it is for beginners to find their way around: from the onboarding process to using the most important functions.
Customer support is an important factor for many users. A long wait or no response at all in the event of problems can be frustrating, especially when it comes to sensitive topics such as finances. With this rating, we give our assessment of the quality of customer support. In order to provide as balanced an assessment as possible, we also include user opinions from other platforms in our evaluation.
Some exchanges and brokers are regulated by financial supervisory authorities in certain countries/states. This often entails strict financial regulatory requirements and compliance requirements to which the company must adhere. Regulatory clarity can contribute to greater transparency and thus also greater trustworthiness.
Do you have ideas or suggestions for changes? Then we look forward to your feedback! We make every effort to keep all metrics and information as up-to-date as possible. However, if you discover an error or outdated information, we would be delighted to hear from you.
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A wallet that is “open source” makes its software code public (e.g. on Github). Either the entire program code or at least significant parts of it are publicly accessible. This has the advantage that many parties can review the code and security gaps or other vulnerabilities are discovered and improved more quickly.
The so-called "private key" is a unique sequence of numbers and characters and the private key that gives you direct access to and control over your cryptocurrencies. The private key is used to sign transactions. In simple terms, it can be seen as a digital fingerprint that proves that you are the owner of the cryptocurrencies. If you store your cryptocurrencies on so-called "custodial wallets" (e.g. crypto exchanges), you are not the owner of your private keys.
The anonymity of “non-custodial wallets” is generally relatively high. However, there are differences between providers when it comes to collecting and storing user data. There can also be differences in the ordering process for hardware wallets as to which user data is stored and for what period of time
The so-called “secure element” is a chip (microprocessor) that stores your private key and is separated from the rest of the hardware. This special chip gives the hardware wallet significantly more protection against local, physical attacks. Depending on the chip, a different level of security can be offered. Some chips can be compromised with less effort, while with others this is only possible with special equipment and is extremely complex.
The so-called “secure element” is a chip (microprocessor) that stores your private key and is separated from the rest of the hardware. This special chip gives the hardware wallet significantly more protection against local, physical attacks. Depending on the chip, a different level of security can be offered. Some chips can be compromised with less effort, while with others this is only possible with special equipment and is extremely complex.
The overall rating is the average of our individual ratings. Our ratings do not constitute investment advice, but merely our personal opinion. You are welcome to use them as rough indicators and additional perspective. In the dynamic and fast-growing crypto sector, parameters can often change from one day to the next, so we cannot guarantee that the rating data is up to date. Therefore, please never use our ratings as an isolated basis for decision-making and not as a substitute for your own research.
Some wallets offer an integrated trading function within the wallet to buy and sell cryptocurrencies directly. This functionality is usually made possible by a connection to the web interface of an exchange. The integrated trading function in wallets offers enormous advantages: cryptocurrencies can be bought in the same place where they are to be stored. The manual transfer of cryptocurrencies from an exchange to your own wallet is therefore no longer necessary, which can save time and money.
Multisignature wallets or multisig wallets are wallets that require at least two private keys to sign a transaction. This additional process makes it possible to greatly increase security against unwanted access, for example through personal threats. This security mechanism is particularly useful when storing particularly high assets.
If the hardware wallet or the device with the corresponding software wallet is lost or damaged, there is no need to panic. As long as you have your private key or recovery seed (also called “seed phrase”) in your possession, you can restore your wallet at any time. The recovery seed is a combination of 12-24 words and is the most common backup method for wallets. Important: Keep your recovery words and private keys secret and never share them with other people!
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The Coinbase wallet is designed for beginners and offers an intuitive and clear design. Users who already have a Coinbase account can link their account directly with the wallet. The Coinbase wallet offers a feature-rich environment for beginners as well as advanced users, allowing easy access to Web3 applications, wallet swapping, portfolio management, and NFT support. While the wallet is great for beginners, we see a good amount of dissatisfaction with customer support. While customer support can be sporadic and take longer, we still recommend the coinbase software wallet, in particular, if you are a beginner.
Coinbase Wallet
Overview
Quick Facts
The Coinbase Wallet is the official wallet of the Coinbase, the leading cryptocurrencies exchange in the U.S. The Coinbase wallet is designed for beginners, provides rich features and access to the decentralized web.
Informations
Pro's & Con's
- Seamless integration with Coinbase exchange accounts.
- Intuitive and user-friendly interface, ideal for beginners.
- High-quality and clear design.
- Includes a Web3 browser extension for easy access to decentralized applications.
- Supports a wide range of cryptocurrencies and tokens.
- Inconsistent customer support can lead to user dissatisfaction.
- Higher transaction and network fees compared to some other wallets.
- Centralized control may not appeal to users preferring decentralized options.
- Limited advanced features for experienced users.
Coinbase Wallet
Hardware
Offer and features of
Coinbase Wallet
Functionality
Unique Features
- Browser extension
- Lending (earning interest)
- DApp Browser
Platforms
Our
Coinbase Wallet
Review
Test Result
Conclusion
The Coinbase wallet is designed for beginners and offers an intuitive and clear design. Users who already have a Coinbase account can link their account directly with the wallet. The Coinbase wallet offers a feature-rich environment for beginners as well as advanced users, allowing easy access to Web3 applications, wallet swapping, portfolio management, and NFT support. While the wallet is great for beginners, we see a good amount of dissatisfaction with customer support. While customer support can be sporadic and take longer, we still recommend the coinbase software wallet, in particular, if you are a beginner.
Customer Reviews
/ 5 average rating from -- reviews
Write a Review
Share your experience! Your review can help others make informed decisions. Let us know what worked well and what could be improved. Your feedback is valuable and will contribute to our community’s knowledge.
Coinbase Wallet
User Reviews
The Coinbase Wallet is often praised for its simple interface and ease of use. Users particularly appreciate the ease of setup and navigation. However, some users criticize the sometimes slow app performance and occasional technical issues.
Users like the easy app, but it’s sluggish at times with regular crashes.
Coinbase Wallet offers numerous cryptocurrencies, such as popular names like Bitcoin and Ethereum, as well as those compliant with the ERC20 and ERC721 standards. The absence of support for more cryptocurrencies and a broader selection of tokens is a point of friction for some users.
The Coinbase Wallet gets credit for having solid security measures like fingerprints and two-factor authentication (2FA). Users also keep their private keys since it is a non-custodial wallet which is good to secure it. However, there are questions about security with mobile devices.
The Coinbase wallet is a good pick for novices. Despite it being uncomplicated, they said that it does require some learning if you are not very knowledgeable.Restricted account types.
Opinions on Coinbase Wallet support are mixed. Some customers appreciate the nice and quick responses, while others report slow replies and issues which remain unsolved.
The Coinbase Wallet is generally reviewed well because it’s so easy to use and it supports lots of different kinds of cryptocurrency. People also feel like it’s pretty secure to use. What people aren't as happy about is how easy it is for complete beginners to start using this thing. And so, the most critical reviews often come from users who are new to this kind of thing. That said, most people feel good about using the Coinbase Wallet.
About
Coinbase Wallet
Coinbase Wallet
About the author
At Exchange Flow, Ethan is recognized as the resident crypto expert. With 10+years of experience navigating the waters of global crypto exchanges, Ethan is a trusted voice in the ever-evolving world of digital currencies. He tests and scrutinizes exchanges so you don’t have to, offering reviews and articles that newbies and seasoned traders alike find invaluable. When he’s not coding, Ethan likes to travel and play retro games. He uses his crypto earnings to fund his trip around the globe.
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