Is it any good? It is supposed to support hundreds of different currencies. If Coinbase goes under, is the wallet still good? The wallet can be linked to your Coinbase account. Is it’s linked, is the wallet still safe?
Coinbase is one of the oldest Crypto exchanges they offer 2 wallets an exchange wallet and a defi wallet. I have never really used their newer defi wallet but I have used their older exchange wallet. I do not know much about their newer wallet however their original wallet/exchange but the original wallet is Coinbase if they go down so does that wallet. I would not be surprised to see the same happen to their defi based product.
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Coinbase Wallet is a versatile choice known for supporting numerous cryptocurrencies, making it convenient for many users. It’s worth noting that Coinbase Wallet is a standalone wallet, separate from your Coinbase account. So, even if something were to happen to Coinbase, your wallet’s functionality should remain intact.If you’re looking for additional security and services for managing your crypto assets, you might want to explore crypto wallet as a service providers. These platforms offer not only secure storage but also valuable resources and support to enhance your crypto experience.
For me Coinbase is definitely one of my most trusted Wallets.
What impresses me the most is that when the SEC filed their BS actions against Coinbase, Coinbase fought back, multiple times and won every darn time. Here is one quote:
" **a New York federal court on March 27, 2024, rejected nearly all of Coinbase's challenges to the SEC's charges against it and cleared the case to proceed.**Mar 27, 2024"
There are lots of videos concerning the SEC's actions against crypto. Recommend that you watch a few, especially those about Coinbase.
Coinbase has gone back to the SEC over 30 times, I believe over 60 times, but do not have the exact number of times in front of me, I know the 30 X number is safe. Each and every time, the SEC said nothing, nada, did not even respond. Just more proof how not legitimate, their legal actions against Coinbase are.
You see they gave permission for Coinbase to start doing business, but refused to tell them how to get started, when Coinbase asked, you guessed it, they said nothing. Can you imagine how insane it would be to have an entity that would like to regulate you give you the go ahead, but refuse to tell you how to start...pathetic.
The reality is Gensler (SEC Chair) is just jockeying for a higher level banking job. Like Elizabeth Warren, the Banks have him bought and sold, lock, stock and barrel. It really is pathetic when you start looking at the various actions the SEC starts.
If a Crypto refuses or cannot fight back, not only do they get fined by the SEC, but the SEC files again, and again, and again exacting more and more penalties from that specific crypto.
Coinbase is not stupid, they know it is smarter to fight back, no matter what the cost, and they do. This makes their wallet one of the best.
Now that both the Senate and the House have passed legislation telling the SEC to CEASE and DESIST their baseless actions against crypto, it might slow down. However Elizabeth Warren has ignored the facts about blockchains the visibility into all the transactions and pushed President Biden to "veto" the legislation. Let's hope there are enough votes to overcome his veto, I believe there may be.
The USA needs crypto jobs to stay here in this country. We need access to other forms of currency that are not controlled by the Banks, Governments, etc..., like Bitcoin.
These are huge reasons to rely on the Coinbase wallet among others! They are doing it right.
It is also telling that with more the 2,000 different cryptos, the SEC is only attacking a handful of them.
In my mind, short-sellers, in any market, do more harm than any crypto, especially any crypto using a secure blockchain that gives 100% visibility into each and every transaction. If you watch the hearings in the Senate and the House, you will learn that there is more drug and crime related transactions flowing through Banks, then Bitcoin. Their attacks are being made to prop up and protect the banks and other financial institutions in my opinion.
Coinbase wallet is great! With that said, it is important that you “self custody” some of your Bitcoin and Crypto and do not only have wallets on exchanges. Your keys, your crypto!
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