Coinbase Wallet Will Allow Users to Access Portfolios From Multiple Platforms in One Place

The company said in a July 11 statement that the new wallet will be available through a website on desktop and mobile devices.

Cryptocurrency exchange Coinbase is releasing a new version of its crypto wallet that will allow users to access their portfolios from multiple platforms in a single place.

The company said in a July 11 statement that the new wallet will be available through a website on desktop and mobile devices. Users will be able to connect any self-custodial wallet supported by Wallet Connect, including MetaMask and Phantom wallets, to have an aggregated view of assets across applications. Users don’t need to have a Coinbase wallet to use the service.

The solution seeks to address retail users’ demand to track non-fungible tokens (NFTs) and decentralized finance (DeFi) positions across wallets, according to Coinbase. “Many people also manage several crypto wallets and […] achieving a comprehensive view of all their assets in one place has been a challenge,” said Coinbase.

Coinbase is not the first company to offer this service. For example, Zerion Wallet allows users to connect multiple wallets and track crypto portfolios, including NFTs and DeFi positions. The platform supports multiple blockchains, including Ethereum, BNB Smart Chain, and Polygon.

Coinbase’s wallet will offer support to assets across Bitcoin, Solana, and Ethereum-based chains. Sid Coelho-Prabhu, Coinbase’s senior director of product management, told Cointelegraph that no fees will be charged to users of the platform. “Users do continue to pay network transaction fees (not Coinbase fees) for most assets when sending or receiving assets, as they would with any self-custodial wallet.”

Phishing, scams and other vulnerabilities

In the past, users of the Coinbase wallet have been targeted by sophisticated phishing attacks, scams and other vulnerabilities.

Cointelegraph previously reported on scammers using legitimate-looking emails and communication methods to deceive users into providing sensitive information. In some cases, even Coinbase support employees were reportedly tricked, leading to unauthorized access and theft of funds.

Coinbase says its security team continuously works on new features and security measures to protect users’ assets, such as biometric authentication, passwords, security locks, approval alerts, and spam token management.

“No platform, regardless of its safety measures and sophisticated security technology, is immune from users potentially falling victim to scams. Security is a shared responsibility — everyone has a role to play,” explained Coelho-Prabhu, adding that educating customers has been an important step in improving security.

Related: Coinbase users report phishing attacks despite exchange’s security measures

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