Coinbase Wallet® is a self-custody digital wallet designed for users who want full control over their crypto assets, private keys, and on-chain activity. Unlike centralized exchange accounts, Coinbase Wallet allows users to store cryptocurrencies, interact with decentralized applications (dApps), manage NFTs, and access Web3 services directly from their own wallet.
Getting started with Coinbase Wallet is straightforward, but understanding how it works—and how it differs from traditional crypto exchanges—is essential for using it safely and effectively. This guide walks you through the basics, from setup and security to everyday use.
What Is Coinbase Wallet?
Coinbase Wallet is a non-custodial wallet, meaning users control their own private keys and funds. While it is developed by Coinbase, it operates independently from the Coinbase exchange. Funds stored in Coinbase Wallet are not held by Coinbase or any third party.
The wallet supports a wide range of digital assets, including:
Major cryptocurrencies
ERC-20 and other blockchain tokens
NFTs
Assets across multiple blockchain networks
Because it is self-custodial, Coinbase Wallet gives users direct access to the decentralized web (Web3), including DeFi platforms, NFT marketplaces, and blockchain-based applications.
Coinbase Wallet vs. Coinbase Exchange
A common point of confusion is the difference between Coinbase Wallet and the Coinbase exchange.
Coinbase Exchange is custodial: Coinbase holds your funds on your behalf.
Coinbase Wallet is non-custodial: you hold your own keys and assets.
This distinction matters because self-custody comes with greater freedom—but also greater responsibility. Users must secure their recovery phrase and manage their own wallet safety.
How to Get Started with Coinbase Wallet Step 1: Download the Coinbase Wallet App
Coinbase Wallet is available as:
A mobile app for iOS and Android
A browser extension for supported desktop browsers
Always download the app or extension from official app stores or verified sources to avoid fake or malicious software.
Step 2: Create a New Wallet
When opening the app for the first time, you will be given the option to create a new wallet.
During setup:
The wallet generates a unique recovery phrase
This phrase is the only way to restore access if your device is lost or damaged
Coinbase does not store this phrase for you
You will be asked to confirm the phrase to ensure it is recorded correctly.
Step 3: Secure Your Recovery Phrase
Your recovery phrase is the most important part of your wallet.
Best practices include:
Write it down on paper
Store it in a secure, offline location
Never share it with anyone
Avoid storing it digitally or in screenshots
Anyone with access to your recovery phrase can access your wallet and funds.
Step 4: Set Up App Security
To protect your wallet on your device, enable:
A strong password or PIN
Biometric authentication (fingerprint or Face ID)
Auto-lock features
These settings add an extra layer of security if your device is lost or accessed by others.
Adding Funds to Coinbase Wallet
Once your wallet is set up, you can add funds in several ways:
Transfer crypto from an exchange
Receive funds from another wallet
Purchase crypto through supported on-ramps (availability may vary by region)
Each asset has a unique wallet address. Always double-check addresses and network compatibility before sending funds.
Using Coinbase Wallet Features
After funding your wallet, you can begin exploring its core features.
Sending and Receiving Crypto
Coinbase Wallet allows users to:
Send crypto to other wallets
Receive funds using a public wallet address
Track transaction history on supported blockchains
Network fees apply and vary depending on blockchain congestion.
Accessing dApps and Web3
One of the main advantages of Coinbase Wallet is built-in access to decentralized applications.
Users can:
Connect to DeFi platforms
Swap tokens through decentralized exchanges
Lend, borrow, or stake assets
Participate in blockchain-based communities
All interactions require wallet approval, giving users full control over transactions.
Managing NFTs
Coinbase Wallet supports NFTs across supported networks. Users can:
View NFT collections
Store NFTs directly in their wallet
Interact with NFT marketplaces
NFTs are displayed visually, making it easier to manage digital collectibles.
Understanding Gas Fees and Networks
When using Coinbase Wallet, users interact directly with blockchain networks. This means:
Transactions require gas fees
Fees are paid to the network, not Coinbase
Costs vary by network and transaction type
Choosing the correct network and timing transactions during lower congestion can help reduce fees.
Common Mistakes New Users Should Avoid
When getting started, new users should be aware of common pitfalls:
Losing the recovery phrase
Sending assets on the wrong network
Falling for phishing scams
Approving suspicious smart contract requests
Taking time to review transactions and permissions helps prevent costly errors.
When to Seek Help or Support
Because Coinbase Wallet is self-custodial, support options are limited compared to centralized exchanges. Coinbase cannot recover lost phrases or reverse blockchain transactions.
However, help resources are available for:
App functionality
General wallet guidance
Security education
Users should rely on official documentation and verified help channels only.
Final Thoughts on Getting Started with Coinbase Wallet®
Coinbase Wallet® offers a powerful gateway into self-custody and the decentralized web. While it requires more responsibility than traditional crypto accounts, it also provides greater control, privacy, and flexibility.