Coinbase Wallet Review 2023: Pros, Cons and How It Compares

Coinbase Wallet makes it easy to transfer your assets to exchanges, hardware wallets and DeFi applications.

Where Coinbase Wallet shines

Selection: Coinbase Wallet can store a huge number of digital assets. Its website says the wallet supports thousands of coins, including all of the ERC-20 tokens built on Ethereum technology.

Web3 functionality: Coinbase Wallet allows users to buy, trade and earn rewards on cryptocurrency and NFTs without having to leave their assets in the custody of a centralized exchange.

Conversion to cold storage: Coinbase Wallet has a partnership with hardware wallet Ledger to help users easily transfer assets to offline storage.

Where Coinbase Wallet falls short

Not fully open source: Coinbase Wallet has an open-source protocol that developers can use to write applications to work with it, but the overall software is not open source. Some users may prefer wallet software to be fully open source so they can test the security of the code without putting trust in the wallet’s developers.

What Coinbase Wallet is best for

• Mobile or browser-based hot storage with easy access to exchanges and dapps.