does coinbase wallet support erc20

Coinbase Wallet supports ERC-20 tokens, enabling users to securely store, transact, and swap these tokens within the wallet's user-friendly and secure platform.

Nov 04, 2024 at 11:42 am

Does Coinbase Wallet Support ERC-20 Tokens?

1. Understanding ERC-20 Tokens

ERC-20 tokens are a type of cryptocurrency that runs on the Ethereum blockchain. They are used to represent various assets, such as digital assets, utility tokens, or even security tokens.

2. Coinbase Wallet and ERC-20 Support

Yes, Coinbase Wallet fully supports ERC-20 tokens. You can use your Coinbase Wallet to:

• Store and manage your ERC-20 tokens securely.
• Send and receive ERC-20 tokens from other Coinbase Wallet users or external wallets.
• Swap between supported ERC-20 tokens directly within the wallet (this feature may be limited in certain jurisdictions).

3. How to Add ERC-20 Tokens to Coinbase Wallet

To add an ERC-20 token to your Coinbase Wallet, follow these steps:

• Open the Coinbase Wallet app and tap on the Assets tab.
• Tap on the "Add Asset" button.
• Search for the specific ERC-20 token you want to add.
• Tap on the token to add it to your wallet.

4. Security with Coinbase Wallet

Coinbase Wallet prioritizes the security of your funds, including your ERC-20 tokens. It uses robust security measures such as:

• Self-custody: Your private keys (which grant access to your funds) are stored solely on your device and not shared with Coinbase.
• Multi-factor authentication: This adds an extra layer of security by requiring you to verify your identity through multiple methods.
• Insurance: Coinbase maintains insurance policies to protect your assets from various threats, including cyberattacks and theft.

5. Supported ERC-20 Tokens

Coinbase Wallet supports a wide range of popular ERC-20 tokens, including:

• Ethereum (ETH)
• Bitcoin (BTC) (through the Wrapped Bitcoin [WBTC] token)
• Tether (USDT)
• DAI
• Uniswap (UNI)
• Chainlink (LINK)
• Shiba Inu (SHIB)
• Decentraland (MANA)

6. Conclusion

Yes, Coinbase Wallet is a secure and convenient way to store, manage, and transact ERC-20 tokens. With its user-friendly interface and comprehensive security features, Coinbase Wallet is an ideal choice for both experienced and beginner cryptocurrency users.