Coinbase App and Coinbase Wallet: Are they different?

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We all have fear of losing money especially when we are planning to step into the digital world of investment.

Cryptocurrency has opened up new doors to investment. The concept is new and quite complicated for a beginner and due to a lack of its knowledge, we often step back from investing. Don’t we?

Yes, we do! And it’s a general human tendency. We all have fear of losing money especially when we are planning to step into the digital world of investment. But, on the other hand, we cannot deny the fact that investing in crypto has come out with positive results for many investors.

At times we get confused among some terms related to the crypto world. To erase this dilemma, we are here with this article that will help you to learn the difference between the Coinbase App and Coinbase wallet.

Do you think that both these terms are the same?

If so, it’s quite of an assumption. Both the terms are linked with each other but they are not the same. So, let’s understand one by one what they are and how they work.

Coinbase App

Coinbase came into the existence in 2012 to provide a platform that can be trusted and secured with easy navigation. It provides a transparent financial system to crypto investors.

Coinbase App is a platform where you can sell, buy, hold or exchange cryptocurrency. All you need to do is to set up an account on the app and you are good to go with it. It must be noted that it offers you a “hosted” wallet, which means the wallet is managed by Coinbase and you don’t need to set your private keys to manage your transaction via the website or mobile app.

Coinbase wallet

It is a “self-custodial wallet”. To understand this word better let’s break it up. You can easily conclude that this gives custody of the wallet to the user (self) only, which means that it gives the holder the authority to access the wallet. It is designed to ensure the safety of your wallet so that you can sit back and get relaxed.

The security feature plays a vital role when we are investing in cryptocurrency. The self-custodial wallet relieves you from this headache. You can add to the security by setting a PIN and biometric security through the Coinbase wallet mobile app and a password through the Coinbase extension.

Read More: If you are a professional crypto trader you should go with pro coinbase login. It will enhance your trading journey.

Final verdict

Hoping with the above discussion, you will be able to get an idea about both the terms and the differences between them. Moreover, trading with Coinbase brokerage service is involved, which some of the investors do not like. So to eliminate this, has been introduced. The feature that makes it quite different from the existing ones is that here you can directly make a purchase or sell the crypto, eliminating the brokerage. And both exchanges offer services through the Coinbase App as well as the Coinbase wallet.