Coinbase wallet is very similar to other online wallets, including the aforementioned Blockchain, but at the same time it has several significant distinctive features:
Quick confirmation of transactions. On many resources, you can see the inscription “instantly”, but in fact instant confirmation of transactions in the cryptocurrency system is a priori impossible due to the specific design of the algorithm. However, Coinbass easily surpasses many existing Bitcoin wallets online services in terms of confirming transactions.
Significantly lower transfer fees.
Offers cold storage service. This term refers to the use of a special security protocol. The work consists in the following: a large amount of bitcoins, which does not imply frequent use, is stored in an isolated and highly secure environment, where translation operations are extremely rare, because safety and security of funds is in the first place. And the rest, a small and actively used part of the funds is placed on the server and is used in the normal “working” mode.
The opportunity directly, without leaving the wallet, to buy and sell Bitcoin cryptocurrency, as well as to make its exchange for dollars and euros, and even pay for purchases. However, for the first purchase of bitcoins for USD or EURO, the user will need to transfer the currency to a Coinbase bank account and provide information about their bank details. Verification of a user (photo or scan of an identity card) will also be required for withdrawal on plastic cards.
To simply use Coinbass as a wallet, drive back and forth, transfer and receive bitcoins – verification is not needed.