how to add coinbase wallet to coinbase

How to Add Coinbase Wallet to Coinbase

Coinbase Wallet is a self-custody cryptocurrency wallet that allows you to store, send, and receive cryptocurrencies without the need for an intermediary. Coinbase, on the other hand, is a centralized cryptocurrency exchange that allows you to buy, sell, and trade cryptocurrencies.

To add Coinbase Wallet to Coinbase, follow these steps:

1. Open the Coinbase app and tap on the "Add Wallet" button.
2. Select "Coinbase Wallet" from the list of available wallets.
3. Enter your Coinbase Wallet recovery phrase. This is a 12-word phrase that you were given when you created your Coinbase Wallet.
4. Tap on the "Add Wallet" button.

Your Coinbase Wallet will now be added to your Coinbase account. You can now use Coinbase to buy, sell, and trade cryptocurrencies, and you can use Coinbase Wallet to store your cryptocurrencies.

Benefits of Adding Coinbase Wallet to Coinbase

There are several benefits to adding Coinbase Wallet to Coinbase, including:

• Increased security: Coinbase Wallet is a self-custody wallet, which means that you have complete control over your private keys. This makes it more secure than storing your cryptocurrencies on Coinbase, which is a centralized exchange.
• More control: With Coinbase Wallet, you can control how your cryptocurrencies are stored and used. You can set your own security settings, and you can choose to store your cryptocurrencies on a hardware wallet or in a cold storage wallet.
• Easier access to decentralized applications (dApps): Coinbase Wallet allows you to access decentralized applications (dApps) directly from your wallet. This gives you access to a wider range of cryptocurrency services, such as decentralized exchanges, lending platforms, and yield farming protocols.

Conclusion

Adding Coinbase Wallet to Coinbase is a great way to increase the security and control of your cryptocurrency holdings. It is a simple and easy process that can be completed in a few minutes.