Coinbase Wallet Review: Is Coinbase Wallet the Best Crypto Wallet?

Coinbase Wallet is a popular crypto wallet from leading US crypto exchange, Coinbase. It offers a wide range of features for buying, trading, and storing cryptos.

Coinbase Wallet is a self-custody crypto wallet from leading US crypto exchange, Coinbase. It offers a wide range of features for buying, trading, and storing cryptos, and the wallet’s self-custody approach puts you in control of your crypto.

So, is Coinbase Wallet the best crypto wallet to store your tokens? We’ll dive into everything you need to know in our Coinbase Wallet review.

Our Verdict on Coinbase Wallet

Coinbase Wallet does a great job at the basics of storing your cryptocurrencies and keeping them safe. We liked the wallet’s full self-custody design, full separation from Coinbase.com, and advanced security features. We also liked that you can swap tokens through popular decentralized exchanges (DEXs) like Uniswap or buy and sell crypto by connecting a Coinbase.com account.

Coinbase Wallet also stands out for its Web3 support. The wallet has an extensive list of decentralized apps (dApps) you can connect to, and the integrated Web3 browser makes it easier to navigate the decentralized web. However, we’d like to see better organization of the dApp library to make it easier to find trending apps.

However, Coinbase Wallet doesn’t claim the mantle of overall best crypto wallet because of its user experience. Coinbase Wallet delivers a lot of features, but its interface feels overwhelming at times and doesn’t quite nail the details that crypto traders and investors want. Another thing to watch out for is that Coinbase Wallet doesn’t support Ripple, the fourth-largest cryptocurrency, and doesn’t have its own token launchpad.

Pros

Cons

What Is Coinbase Wallet?

Coinbase Wallet is a self-custody crypto wallet from Coinbase, the largest US crypto exchange. It’s distinct from Coinbase’s custodial wallets, which are included with every Coinbase account. If you buy crypto through Coinbase, you have to transfer it to Coinbase Wallet in order to take full self-custody over it.

That said, you don’t have to buy or trade crypto with Coinbase in order to use Coinbase Wallet. You don’t even need a Coinbase.com account. The wallet does have some integrations with Coinbase’s exchange to make swapping tokens easier.

Coinbase Wallet supports thousands of tokens across dozens of networks, including Bitcoin, Ethereum, Dogecoin, and all Ethereum Virtual Machine (EVM)-compatible blockchains. It also supports non-fungible tokens (NFTs) and dApps to help you dive fully into Web3.

What Type of Wallet Is Coinbase Wallet?

Coinbase Wallet is a self-custody crypto wallet, meaning only you have access to your wallet’s private keys. Coinbase does not have a copy of your wallet’s keys or any access to the tokens stored in your wallet.

This is different from storing tokens in a Coinbase.com exchange account. Exchange accounts with Coinbase.com are custodial, meaning Coinbase does have access to your private keys.

Supported Chains & Cryptocurrencies

Coinbase Wallet supports thousands of tokens across most major blockchains. Some of the top blockchains supported include:

In addition, all Ethereum Layer-2 networks—like Base, Arbitrum, and Optimism—are supported. All other EVM-compatible blockchains and tokens built on them are also supported by Coinbase Wallet. You can import existing crypto wallets into Coinbase Wallet or connect a Coinbase.com account for seamless trading.

Notably, Coinbase Wallet does not support Bitcoin Cash (BCH), Ethereum Classic (ETC), Stellar (XLM), or Ripple (XRP).

In addition to crypto tokens, Coinbase Wallet also supports NFTs hosted on the Ethereum or Polygon blockchains. The wallet doesn’t support NFTs created through lazy minting on OpenSea or NFTs in the ERC-1155 standard.

Coinbase Wallet Features & Tools

Let’s take a look at some of the features and tools that help Coinbase Wallet stand out.

Multiple Wallets

Coinbase Wallet supports up to 15 wallet addresses per account for both Ethereum and Solana. This enables you to create multiple wallets for different purposes, as well as “burner” wallets for interacting with potentially dangerous dApps or websites. You can also import any number of existing Ethereum or Solana wallets to Coinbase Wallet, making it easier to manage all of your tokens from one place.

Buying, Selling, and Swapping Crypto

Coinbase Wallet integrates with Coinbase.com as well as several major DEXs, which are available though the dApp library. Connecting a Coinbase.com account only takes seconds, although it’s important to note that you will need to go through a full Know Your Customer (KYC) process in order to sign up for Coinbase.com.

With a connected account, you can easily move assets between the exchange and Coinbase Wallet. You can also buy and sell tokens directly through Coinbase Wallet using any of the payment methods supported by Coinbase.com, such as credit and debit cards and bank transfers.

Without a Coinbase.com account, you