Coinbase

Coinbase has recently opened up to its own NFT marketplace, which has drawn the attention of non-fungible token investors worldwide. The company wanted to get more involved in the NFT space so that the technology could become available to more people.

We think that the inclusion of an NFT marketplace on the Coinbase platform is a bold move by the company. It has opened up a world of possibilities for new and old investors to get more involved in cryptocurrency and NFT technology.

The company also launched its own wallet that allows you to store all your NFTs and cryptocurrencies in one place. It supports a whole world of apps and thousands of tokens. Coinbase’s NFT wallet is easily considered one of the best globally, and rightfully so.

With this wallet, you can explore decentralized websites with your browser or mobile phone. It also makes buying, selling, and minting NFTs easy, even if you are a newcomer to the industry.

In this Coinbase NFT wallet review, we discuss some of the prominent features of this wallet. After this article, we will have a clear understanding of how the platform works and will be able to decide if it is something you would like to use. We hope to be insightful and deliver concise information.

Without further ado, let us begin this piece.

What Is Coinbase NFT Wallet?

Coinbase NFT wallet is a secure solution offered by one of the world’s most significant cryptocurrency exchanges. The wallet provides storage and compatibility for many blockchains and digital assets.

If you are looking for something to store your ERC 721 digital assets or tokens, the Coinbase NFT wallet is your best option. Due to its interoperability, you can use the platform to connect to various blockchains.

We loved how easy it is to use the wallet once it has been set up. There are also instructions and a how-to guide on the company’s website that can help you get up to speed with the inner workings of the Coinbase NFT wallet.

Our Coinbase NFT Wallet Analysis

People were beyond exciting when they first heard about Coinbase opening its NFT marketplace. The inclusion of a marketplace on its platform allows users to trade, sell, or buy NFTs.

We signed up for the exchange and received an email to verify our account in no time. Next, we browsed through the marketplace to find the most suitable NFTs to invest in. Once we had found the one, we headed over to the payment portal to purchase it.

What’s great about the platform is that it lets you buy NFTs with your credit card or the cryptocurrency in your Coinbase wallet.

Another thing to note about the Coinbase NFT wallet is that you can easily connect it any a range of marketplaces to sell your digital assets. We linked to Coinbase’s native platform and listed some of the NFTs we have collected over the years.

You won’t believe it, but within a few days, those NFTs were sold, and we got a nice amount of Ethereum tokens for it.

We then converted those ERC 721 tokens into dollars and proceeded to withdraw the funds from our Coinbase NFT Wallet. What’s incredible about the withdrawal process is that it is quick and efficient. You will have the funds in your account within 24 to 48 hours after your withdrawal request.

Overall, we think the Coinbase NFT wallet is a fantastic place to store your NFTs and keep them safe while building your collection.

The Signup Process

When you are ready to get started, the first thing you should do is head over to the Coinbase homepage. Here you will find a plethora of tabs that will help you learn more about NFTs and how to sign up for your wallet.

Create Your Account

The first step is to create an account with Coinbase. Head over to the “Coinbase Wallet” page and click “Download Wallet” to download the browser extension. Once the application is downloaded, you can launch it, fill in your details, and click submit.

Check Your Email

After submitting your registration information, you will be sent an email by the company. Open this message and click on “Verify” to prove the authenticity of your account. It is good to note that you may also receive your passphrase in this email.

Learn About the Platform

One of the best things you can do is go through the educational content provided on the Coinbase website. It will inform you of the latest trends, but it will also give you a better understanding of how the Coinbase wallet works.

Start Buying and Storing

Once your Coinbase wallet is set up and verified, it is time to start investing in some NFTs. Check out the platform’s marketplace or hunt for non-fungible tokens on a different service provider; the choice is yours.

Please remember that it is essential to store your NFTs once you have purchased them, as then they will be safe from hackers.

How the Coinbase NFT Wallet Works

Verification

The first step is verification, and once that is complete, you will have full access to the Coinbase NFT marketplace and the platform’s native wallet. Once the above process is finished, you can invest in your first non-fungible token.

Fees

Coinbase fees are determined by market conditions such as liquid and volatility, the size of the order, and the selected payment method. Before you make your purchase, you will see that fees are listed on the trade preview screen.

Payouts

Payouts with Coinbase are straightforward to arrange. If you want to get your funds out of your Coinbase Wallet, you must know that it only takes 24 to 48 hours to arrive in your bank account.

Support

One great thing about Coinbase is that the customer support system is exceptional. There are multiple options for users to contact the company, including phone support, email support, and a convenient live chat service. You will never find yourself stuck in a rut when dealing with the Coinbase support team.

Ease of Use

What’s excellent about the Coinbase NFT wallet is its ease of use. The application is intuitive and can store a vast range of cryptocurrencies and NFTs. Coinbase has opened up plenty of opportunities for novices in the industry to start building their portfolios.

Reputation

Coinbase has nearly been around for a decade and is one of the most prominent names in the cryptocurrency scene. Interestingly, the company is distributed, meaning all staff operates via remote work, and the business doesn’t have a physical headquarters.

One of the most important things to remember is that Coinbase is the largest cryptocurrency exchange in the United States by market capitalization.

Platform Safety

Coinbase is protected with superior online safety protocols so that you never have to stress the security of your digital assets. Military-grade encryption technology and secure SSL certificates are built into Coinbase’s website and wallet.

Transparency

The thing that we love the most about Coinbase is its transparency. Whether you need to find out the fees for buying or selling an asset or you want to learn more about cryptocurrency or NFTs, Coinbase has a stack of essential information for you on its site.

Is it Possible to Withdraw Earnings?

Yes, you can! It is important to remember that you will be charged a small fee when you withdraw funds from Coinbase. If you have built up a considerable amount that you want to transfer to your bank account, it only takes a few clicks to make it happen.

Coinbase NFT Storage

There is a vast selection of NFT marketplaces and cryptocurrencies that can be supported on the Coinbase wallet. You will be spoilt for choice when using your favorite blockchain to transfer assets between them.

Cross Chain Compatibility

The Coinbase NFT wallet supports multiple assets, including DOGE, XLM, XRP, BCH, BTC, USDC, and ERC-20 tokens. With the self-custodial wallet, you have access to a range of cryptocurrencies and NFTs, so what is stopping you from building an extensive portfolio?

Our Verdict of Coinbase NFT Wallet

After significant testing of the Coinbase wallet, we can confidently say that it is the perfect solution for anyone who wants to store their NFTs and cryptocurrencies in a safe and innovative environment.

Even though the wallet is a hot wallet, it is still secured with some of the best protection protocols. You will love the wallet because of the vast interoperability options you have with different blockchains.

What are you waiting for if you don’t have a Coinbase NFT wallet? It may be time that you jump onboard the NFT train and start building your collection today!