Coinbase and Coinbase Wallet are two separate but related products offered by Coinbase. Both are designed to give users the ability to buy, sell, and store cryptocurrencies, but they differ in a few key ways.
Coinbase is a digital currency exchange that allows users to buy and sell cryptocurrencies such as Bitcoin, Ethereum, and Litecoin. It also offers a range of other financial services, including a debit card that allows users to spend their cryptocurrency balances just like they would with a traditional bank account.
Coinbase Wallet, on the other hand, is a non-custodial cryptocurrency wallet that allows users to store and manage their digital assets. Unlike Coinbase, which holds users’ assets on its own servers, Coinbase Wallet is a software-based wallet that stores users’ assets on their own devices. This means that users have full control over their assets and can access them anytime, anywhere, as long as they have their device with them.
One key difference between Coinbase and Coinbase Wallet is that Coinbase is a centralized platform, while Coinbase Wallet is decentralized. This means that Coinbase holds users’ assets on its own servers, while Coinbase Wallet stores users’ assets on their own devices.
Another difference is that Coinbase is primarily designed for buying and selling cryptocurrencies, while Coinbase Wallet is primarily designed for storing and managing them. This means that Coinbase Wallet is a more secure option for long-term storage of digital assets, as it gives users more control over their assets and reduces the risk of them being hacked or stolen.
In terms of fees, Coinbase charges a variety of fees for its services, including trading fees, withdrawal fees, and conversion fees. Coinbase Wallet, on the other hand, does not charge any fees for its services, as it is a non-custodial wallet.
In summary, Coinbase and Coinbase Wallet are two separate products that serve different purposes. Coinbase is a digital currency exchange that allows users to buy and sell cryptocurrencies, while Coinbase Wallet is a non-custodial cryptocurrency wallet that allows users to store and manage their digital assets. Both are useful tools for anyone looking to get involved in the world of cryptocurrencies, but they should be used for different purposes.