How do i get my money out of coinbase wallet

What’s the difference between the Coinbase app and the Coinbase Wallet app?

The Coinbase app (available on iOS and Android) is the company’s product for individuals looking to buy or sell cryptocurrencies, also available at Coinbase.com. It is an easy, secure, regulated on-ramp to crypto using US dollars or other local fiat currencies. You can safely store crypto on Coinbase so you don’t have to worry about managing your own private keys. Coinbase.com and the mobile apps are available in more than 100 countries.

The Coinbase Wallet app is a separate, standalone app that allows users to store, or custody, their own crypto, and explore the decentralized web with a dapp browser. You do not need a Coinbase account to use the Coinbase Wallet app. Coinbase Wallet helps users manage their own private keys and store their crypto assets directly on their devices, not with a centralized brokerage or exchange. You cannot connect Coinbase Wallet to your bank account to buy or sell cryptocurrencies with US Dollars or other fiat currencies. You can download and use Coinbase Wallet anywhere in the world.

Coinbase is already a popular name in terms of crypto exchanges and is also doing a pretty great job as a non-custodial wallet as well. One of Coinbase wallet’s biggest sell point is that it is a mobile app for Android and iOS users that lets you store, send and receive cryptocurrencies such as Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), and ERC 20 tokens along with providing you access to DApps on the Ethereum network.

The Coinbase Wallet is not just a wallet. It is a multi-coin wallet, Ethereum wallet, and Ethereum browser (DApp browser) that lets you explore the decentralized web. Simply put, the Coinbase wallet is integrating the power of cryptocurrency with decentralized applications.

One of Coinbase wallet’s biggest selling points is that it’s a mobile app for Android and iOS users that lets you store, send and receive cryptocurrencies such as Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), and ERC 20 tokens while also providing you access to DApps on the Ethereum network.

Connecting Your Coinbase Wallet To ZenLedger For Your Crypto Tax Forms

  • To import your Coinbase Wallet transactions into ZenLedger for your crypto tax forms, all we need is your public wallet address.
  • Paste your wallet address into the Coinbase wallet address field in ZenLedger.
  • Select the proper coin from the dropdown list.
  • Select if the wallet is based in the USA or not.
  • Then hit add coin.

How To Use Coinbase Wallet?

The download and installation process of the Coinbase wallet is very simple. Simply follow the below steps and your wallet will be ready to use in a couple of minutes.

  • Download the Coinbase wallet on App Store (iOS) or Play Store (Android)
  • Create a new account by clicking on “Create New Account” on the app
  • Add your username where other users can find you and make transactions
  • Protect your account using either Touch ID (fingerprint) or a 6-digit passcode
  • The app will then display a 12-word recovery passphrase that you must write down, in case your device is lost or stolen.

After following these steps, your Coinbase Wallet will be ready to transfer crypto.

How Does Coinbase Wallet Work?

Once the wallet has been set up, you can make transactions of BTC, BCH, ETH, ETC, LTC, and all your ERC-20 tokens. The Coinbase wallet has a super-simple interface for sending and receiving crypto.

Sending Crypto

  • Log in on the Coinbase wallet app
  • Click on “Tokens” and select the token you want to send and send “Send”
  • Enter the number of tokens
  • Scan the QR code or manually enter the address of the recipient
  • Click on “Continue”

Receiving Crypto

  • Log in on the Coinbase wallet app
  • Click on “Tokens” and select the token you want to send and send “Receive”
  • Share your wallet address or the auto-generated QR code with your sender

The Bottom Line: Why Choose Coinbase Wallet?

Coinbase is already a popular name in terms of crypto exchanges and is also doing a pretty great job as a non-custodial wallet as well. Since its inception, a number of updates, top-quality security, a simple interface, and a variety of tokens have made it an impressive choice among crypto users.

  • Supports cryptocurrency Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH), and ERC20 tokens, and ERC721 collectibles.
  • Cloud-backup
  • Easy transfer using Coinbase.com account
  • Current price of assets in regional currency
  • Crypto payments
  • The private key for signing messages cryptographically
  • Transaction history
  • Auto-add ERC 20 tokens and ERC721 collectibles
  • Backup using 12-word BIP39 recovery phrases

Coinbase wallet FAQs

1. How do I use the Coinbase wallet?

  • Download the Coinbase wallet on App Store (iOS) or Play Store (Android)
  • Create a new account by clicking on “Create New Account” on the app
  • Add your username where other users can find you and make transactions
  • Protect your account using either Touch ID (fingerprint) or a 6-digit passcode
  • The app will then display a 12-word recovery passphrase that you must write down, in case your device is lost or stolen.
  • After following these steps, your Coinbase Wallet will be ready to transfer crypto.

    2. How do I withdraw money from my Coinbase wallet?

  • You can withdraw the funds by signing into your Coinbase Commerce account.
  • Click on the “Withdraw” button beside the cryptocurrency you want to withdraw.
  • Enter the amount you want to withdraw on the pop-up window.
  • Enter where you would like these funds to be deposited.
  • 3. What is the difference between Coinbase and Coinbase wallet?

    Coinbase, to put it in simple words, is a crypto exchange that allows one to buy/sell crypto in exchange for fiat currency. Coinbase wallet, on the other hand, is where you can view all the crypto you own. It must be noted that you do not necessarily need to have a Coinbase account for using the Coinbase wallet app.

    4. Is Coinbase wallet safe?

    Coinbase offers advanced security features like cloud backup, a private key for signing messages cryptographically, and a backup using 12-word BIP39 recovery phrases.

    Coinbase Wallet is your key to what’s next in crypto. Coinbase Wallet is a self-custody, mobile crypto wallet and web3 dapp browser that lets you take control of your crypto, NFTs, DeFi activity, and digital assets. Blockchain exploration made simple and secure.

    The all-new Coinbase Wallet mobile app is the easiest and safest way to buy NFTs, earn yield on crypto with staking or decentralized finance (DeFi), and access thousands of decentralized applications (dapps). Web3 is more accessible and user-friendly than ever!

    Wallet also makes it easy for you to securely store, send and receive Ethereum (ETH), Bitcoin (BTC), Solana (SOL), Bitcoin Cash (BCH), Ether Classic (ETC), Litecoin (LTC), and hundreds of thousands of altcoins, including ERC20 tokens. Store digital assets in a secure, private wallet. You remain in control of your private keys, which are stored on your device using Secure Element technology. Because Coinbase Wallet is a self-custody crypto wallet, only you have access to your funds.

    Why use Coinbase Wallet for your web3 browser and crypto self-custody wallet?
    • Trade, swap, stake, lend and borrow to your heart’s content. Coinbase Wallet supports hundreds of thousands of tokens
    • Best-in-class multi-chain virtual wallet with support for Ethereum, Solana, and all Ethereum-compatible chains including Avalanche, Polygon, BNB Chain, Optimism and more. Transact on L1s, L2s, and everything in between
    • DeFi & crypto wallet available in 25 languages and >170 countries around the globe
    • Awarded Best Crypto Wallet for Beginners by Money.com, Mashable, and CNET

    Welcome to the world of crypto and web3
    • Coinbase Wallet is your gateway to collecting NFTs, earning yield with DeFi, joining a DAO, and more
    • Enter the web3 ecosystem and say “hello” in your preferred language with 25 languages available

    Take control of your crypto
    • You are in control of your crypto, keys and data
    • Crypto and NFTs safely stored in one place
    • View real time price charts for assets in your virtual wallet, in your local currency
    • Sign messages cryptographically with your private key

    Support for hundreds of thousands of tokens and a whole world of dapps
    • Access an ever-growing list of tokens and decentralized apps on Ethereum & other supported networks
    • Securely store, send and receive Bitcoin (BTC) and Ether (ETH), as well as other popular assets like Bitcoin Cash (BCH), Ether Classic (ETC), Litecoin (LTC), and all ERC-20 tokens
    • Any NFTs (ERC721 collectibles) that you own are automatically added to your wallet

    Industry-leading security
    • Keep your crypto and data safe and explore the decentralized web with confidence
    • You remain in control of your private keys, which are stored only on your device using Secure Element technology
    • Support for cloud backups of your recovery phrase help you avoid losing your assets if you lose your device or misplace your recovery phrase

    Easily go from cash to crypto
    • Coinbase Pay lets you fund your defi wallet from fiat with ease
    • Optional ability to seamlessly link your wallet to a Coinbase account to access everything that Coinbase has to offer

    Do more with your crypto
    • Buy: Buy cryptocurrencies from Coinbase, the world’s most trusted crypto exchange
    • Transfer: Transfer crypto held in other exchanges or wallets to your new self-custody wallet
    • Send: Send cryptocurrency payments to anyone, anywhere in the world
    • Receive: Get cryptocurrency as payment from other users right to your virtual wallet
    • Trade: Convert your crypto with decentralized exchanges (DEXs)
    • Hold: Lend crypto with DeFi and earn interest*

    It’s our mission to bring the power of cryptocurrency and decentralized applications to as many people as possible.

    *Returns aren’t guaranteed. While loans are backed by collateral, there are still risks.

    For feedback and assistance, you can reach us at [email protected] You can also find us on Twitter: @CoinbaseWallet

    Updated on

    Nov 25, 2022

    Finance

    Written by Jane