Is Coinbase Wallet free?

Coinbase Wallet is a free, non-custodial app offering secure storage, dApp access, and support for multiple cryptocurrencies with user-controlled private keys.

Jul 29, 2025 at 12:28 pm

Understanding Coinbase Wallet and Its Core Features

Coinbase Wallet is a non-custodial cryptocurrency wallet developed by Coinbase, one of the largest and most trusted cryptocurrency exchanges in the world. Unlike the main Coinbase app, which acts as a custodial wallet, Coinbase Wallet gives users full control over their private keys, allowing for enhanced security and autonomy over digital assets.

The wallet supports a wide range of cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and various ERC-20 tokens. It also enables users to interact with decentralized applications (dApps) on the Ethereum blockchain, making it a versatile tool for both casual investors and advanced crypto users.

Is Coinbase Wallet Free to Download and Use?

Yes, Coinbase Wallet is free to download and use. The wallet application is available for both iOS and Android devices at no cost through the respective app stores. Users are not charged a subscription fee or any recurring costs for maintaining the wallet.

However, while the wallet itself is free, users may incur fees when performing transactions on the blockchain. These fees—commonly known as gas fees for Ethereum-based transactions or network fees for Bitcoin—are paid to miners or validators and are not collected by Coinbase. These fees fluctuate based on network congestion and can sometimes be significant during peak usage times.

What Are the Costs Associated with Using Coinbase Wallet?

Although the wallet is free, users should be aware of several types of fees that may apply when using Coinbase Wallet:

• Network Fees: When sending or receiving crypto, users must pay a network transaction fee. These fees vary depending on the blockchain and current network demand.
• Gas Fees: On the Ethereum network, gas fees are required for executing transactions or interacting with smart contracts. These fees are determined by the complexity of the operation and current network congestion.
• Exchange Fees: If users choose to buy or sell crypto within the wallet using third-party services integrated into the app (like Coinbase Exchange or third-party providers such as Wyre or Simplex), they may incur exchange or service fees.
• Conversion Fees: Converting one cryptocurrency to another within the wallet may also involve a conversion fee, which is typically a small percentage of the transaction amount.

These fees are clearly displayed before any transaction is confirmed, allowing users to make informed decisions.

How to Download and Set Up Coinbase Wallet for Free

Setting up Coinbase Wallet is a straightforward process that involves the following steps:

• Download the App: Search for “Coinbase Wallet” in the App Store (iOS) or Google Play Store (Android) and download the application.
• Create a New Wallet: Upon opening the app, users will be prompted to create a new wallet or import an existing one using a recovery phrase or private key.
• Secure Your Recovery Phrase: The app will generate a 12-word recovery phrase. Users must write it down and store it securely. This phrase is the only way to recover access to the wallet if the device is lost or damaged.
• Set a Strong Password: Choose a strong and unique password to protect the wallet from unauthorized access.
• Verify Email (Optional): While not mandatory, users can link an email address to receive notifications and transaction confirmations.
• Start Using the Wallet: Once set up, users can receive, send, and store cryptocurrencies, and also interact with dApps directly from the wallet interface.

It is crucial to never share the recovery phrase with anyone, as it grants full access to the wallet and its contents.

Security Features of Coinbase Wallet

Despite being a free service, Coinbase Wallet offers robust security features to protect user assets:

• Non-Custodial Design: Users retain full control over their private keys, which are stored locally on the device and never shared with Coinbase or third parties.
• Biometric Authentication: The app supports fingerprint or facial recognition for secure and convenient access.
• Encrypted Backups: Users can encrypt and back up their recovery phrase using cloud services, although it is recommended to store it offline for maximum security.
• Transaction Verification: Every transaction requires manual confirmation, preventing unauthorized transfers.
• Decentralized Architecture: As a non-custodial wallet, Coinbase Wallet does not hold user funds, reducing the risk of centralized exchange hacks.

These features ensure that even though the wallet is free, it maintains a high level of security suitable for both novice and experienced users.

Supported Cryptocurrencies and Tokens

Coinbase Wallet supports a wide array of cryptocurrencies and tokens, making it a flexible option for users who hold multiple digital assets. Some of the supported currencies include:

• Bitcoin (BTC)
• Ethereum (ETH)
• Litecoin (LTC)
• Ripple (XRP)
• Stellar Lumens (XLM)
• Dogecoin (DOGE)
• Ethereum-based tokens (ERC-20, ERC-721, ERC-1155)

Users can also add custom tokens manually if they are not listed in the wallet by default. This flexibility allows users to manage NFTs and other blockchain-based assets seamlessly within the same interface.

Commonly Asked Questions About Coinbase Wallet

Q: Can I use Coinbase Wallet without a Coinbase account?

Yes, Coinbase Wallet is independent of the Coinbase Exchange. Users can create and use the wallet without linking it to a Coinbase account.

Q: Is Coinbase Wallet insured like the main Coinbase platform?

No, since Coinbase Wallet is non-custodial, the insurance protections offered by the main Coinbase platform do not apply. Users are responsible for securing their recovery phrase and device.

Q: Can I use Coinbase Wallet on multiple devices?

Yes, users can install Coinbase Wallet on multiple devices, but they should ensure that the recovery phrase is securely backed up and not exposed during the setup process.

Q: Does Coinbase Wallet support hardware wallet integration?

Currently, Coinbase Wallet does not support direct integration with hardware wallets like Ledger or Trezor. However, users can manage multiple wallets through the app and switch between them.