In this article, we’ll explore the differences between Coinbase wallet and Coinbase, and go over how Coinbase Wallet Vs. Coinbase differs in terms of security, fees, insurance, and usability. Crypto
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Coinbase is a well-known cryptocurrency exchange and wallet service that allows users to buy, sell, and store various cryptocurrencies. It's important to note that Coinbase offers two distinct services: Coinbase.com (Coinbase Pro) and Coinbase Wallet. Let me explain both:
Coinbase.com (Coinbase Pro): This is the main exchange platform offered by Coinbase. It's a user-friendly platform designed for buying, selling, and trading cryptocurrencies. Users can create an account, link their bank accounts or credit cards, and trade a variety of cryptocurrencies like Bitcoin, Ethereum, Litecoin, and more. Coinbase Pro is geared towards more experienced traders and offers lower fees and advanced trading features compared to the standard Coinbase platform.
Coinbase Wallet: Coinbase Wallet is a separate mobile app designed for storing, managing, and sending cryptocurrencies. It provides users with full control over their private keys, which are essential for controlling your cryptocurrency assets. It is a non-custodial wallet, which means you are responsible for the security of your private keys. While it's possible to view your Coinbase.com (Coinbase Pro) account balance within the Coinbase Wallet app, they are distinct services.
If you want to exchange cryptocurrencies within your Coinbase Wallet, you'll typically have to send your assets from the Coinbase Wallet to Coinbase.com (Coinbase Pro) or another exchange that supports trading. Then, you can execute trades on the exchange platform. After you've completed your trades, you can withdraw the assets back to your Coinbase Wallet for safe storage.
Keep in mind that the cryptocurrency space is rapidly evolving, and new features and services may have been introduced by Coinbase or other providers since my last knowledge update in September 2021. Always double-check the latest information on Coinbase's official website or app for the most accurate and up-to-date details on their services. Additionally, consider the legal and tax implications of cryptocurrency trading in your jurisdiction.
