how to lock coinbase wallet

To effectively lock your Coinbase wallet, enable 2-factor authentication, navigate to "Security & Privacy" settings, activate the "Advanced Security" feature, and toggle the "Lock wallet sending" option to "On."

Oct 31, 2024 at 07:55 pm

How to Lock Coinbase Wallet

1. Set Up 2-Factor Authentication (2FA)

• Enable 2FA by going to your Coinbase account settings and selecting the "Security" tab.
• Choose an authentication app like Google Authenticator or Authy.
• Scan the QR code or manually enter the provided code into your authentication app.

2. Go to "Settings" and Select "Security & Privacy"

• In your Coinbase account, click on your name in the top right corner and select "Settings."
• Choose the "Security & Privacy" tab from the left menu.

3. Enable Advanced Security Button

• Click on the "Advanced Security" button in the "Crypto Address Safety" section.

4. Lock Your Wallet

• Toggle the "Lock wallet sending" switch to the "On" position.
• Enter your Coinbase password and click "Lock sending."

5. Verify Your Email

• Coinbase will send a verification email to your registered email address.
• Follow the instructions in the email to verify your identity and complete the locking process.

6. Remove the Lock

• To remove the lock on your Coinbase wallet, return to the "Advanced Security" settings.
• Toggle the "Lock wallet sending" switch to the "Off" position.
• Enter your Coinbase password and click "Unlock sending."
• Again, verify your email by following the steps in the verification email that Coinbase will send to you.

7. Set a Withdrawal Threshold

• You can also set a withdrawal threshold to limit the amount of assets that can be withdrawn from your wallet without additional confirmation.
• In the "Advanced Security" settings, click "Edit" next to "Withdrawal Threshold."
• Set the desired threshold amount and click "Save."

8. Monitor Account Activity

• Regularly review your Coinbase account activity for any suspicious transactions or activity.
• Use the security alerts feature to receive notifications about account changes and potential threats.

Benefits of Locking Your Coinbase Wallet:

• Enhanced Security: The locked wallet feature prevents unauthorized withdrawals, even if your account is compromised.
• Account Monitoring: Coinbase monitors activity on locked wallets and notifies you of any suspicious activity.
• Increased Confidence: Locking your wallet gives you peace of mind and confidence that your assets are secure.