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blakicious

Coinbase.com made it possible to receive crypto from their account wallet

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On 12th March, Coinbase made it public that its non-custodial crypto wallet app for both Android and iOS referred to as “Coinbase wallet,” can now be linked to your coinbase.com account, and with this, you’ll easily transfer your tokens/coins to this app.

 

Coinbase gave some differences between Coinbase Wallet and Coinbase.com:

"Coinbase.com a.k.a Coinbase Consumer is a digital currency brokerage - you use it to buy or sell cryptocurrency in exchange for fiat currency (i.e. USD or your local currency). Coinbase Consumer can also act as a custodian, storing your digital currency for you after you purchase it. Coinbase Consumer is available in 32 countries. Wallet is a user-custodied digital currency wallet and DApp browser. This means that with Wallet, the private keys (that represent ownership of the cryptocurrency) are stored directly on your device and not with a centralized exchange like Coinbase Consumer. You do not need a Coinbase Consumer account to use Wallet and you can download Wallet from anywhere in the world." 

 

There are reasons why you should make use of coinbase wallet:

  • Coinbase Wallet is a software product that gives you access to a wide spectrum of decentralized innovation,
  • buy and store ERC-20 tokens,
  • participate in airdrops and ICOs,
  • collect rare digital art and other collectibles,
  • browse decentralized apps (DApps),
  • shop at stores that accept cryptocurrency, and
  • send crypto to anyone around the world

 

Coinbase wallet is a mobile application that supported just Ethereum (ETH) and Ethereum tokens (ERC20 and ERC 721) at first. It then added support for Ethereum Classic (ETC) on 28th November 2018, and later, announced support for Bitcoin (BTC) on 5th February. About a fortnight later, Bitcoin Cash (BCH) support was also added by Coinbase. And from 22nd February, support for storing, sending, and receiving Litecoin (LTC) was introduced.

 

You will go through the coinbase login page to link to your coinbase account, where you’ll be asked to enter your credentials. You must note that, you can only link to one coinbase.com account.  Once your account is linked, with just few clicks, you can make a tramsfer of whatever crypto you have with two exceptions XRP and ZCash (ZEC).

Coinbase wallet also has a decentralized app (dApp) browser which makes it very easy for users to find their wallet in order to buy digital collectibles, play games, or use open finance apps such as Compound or Maker.

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