Review on Coinbase Wallet by Othere Obtentus
Best online wallet for trading
Coinbase is a hosted, web wallet for storing and exchanging supported digital currencies within the platform.
It is a digital currency exchange and a wallet for storing cryptocurrencies. A variety of cryptocurrencies can be stored or traded with convenience without leaving the wallet.
Although the number of supported currencies is few, its security and easy interface makes it one of the best wallet available in the current market
Coinbase is a hosted wallet. It means that the keys for your wallets will be stored safely by a trusted third party. You will have no access to your keys which limits the control you have over your wallet but provides with you a 12 word recovery phase to restore your wallet.
So the coinbase company has more control over your wallet. It has access to your keys and your account details. But the company is trusted and reliable for their policies and ethics.
One thing that contrasts Coinbase from other cryptocurrency wallets is its earning options. Coinbase also have earning options where you can easily get hold of valuable coins just by watching a video and taking a quiz.
Pros
- User friendly interface
- Various options for withdrawal and deposit
- Multiple security features
- Built-in exchange platform
- Coinbase earn
- Staking supported cryptocurrencies
Cons
- Lacks privacy and anonymity
- Not many supported cryptocurrencies
- Demands personal information and KYC
- Similar to banking system
