Connect with us


Coinbase Introduces Smart Wallet – Self-Managed and Easily Accessible

Coinbase introduced its Smart Wallet, a new generation of digital wallets designed for easier asset management and secure access using biometric logins or Google Chrome profiles. As a web app, it is free and compatible with eight networks, including Ethereum and Binance Coin. The wallet aims to simplify DeFi activities and target 1 billion users.




The crypto exchange Coinbase has introduced a new generation of digital wallets with its Smart Wallet. This will allow users to organize their Bitcoin and other assets more easily than before and retain sole access.

Coinbase wants to revamp the topic of crypto wallets with a smart wallet

A blog post explains the differences and improvements compared to other popular wallets. Coinbase focuses on network fees, the process of setting up a wallet and complicated passwords and recovery phrases. You can simply log into the smart wallet using Face ID, fingerprint, Yubikey or an existing Google Chrome profile and no longer have to deal with complicated procedures and long passwords, promises Coinbase.

The Smart Wallet is not designed as a download app, but as a web app and therefore works on all operating systems. Coinbase advertises that it is free of charge. At launch, the Smart Wallet is compatible with eight networks, specifically Ethereum (ETH), Binance Coin (BNB), Optimism (OP), Arbitrum (ARB), Polygon (MATIC), Avalanche (AVAX), Zora and Base. It seems a bit strange that Coinbase did not natively link its Smart Wallet to the Solana (SOL) ecosystem right from the start , although increased use of Solana in Coinbase services had been promised by the end of 2023 .

However, the Smart Wallet is prepared to be connected to existing wallets from other providers such as MetaMask, which allows users to compensate for missing features. Coinbase names the decentralized finance (DeFi) division as the area in which the Smart Wallet shows its strengths and makes it easier for beginners to get started.

Instead of having to install and keep an eye on several wallets, DeFi activities should now be possible centrally from the Smart Wallet. Coinbase has set an ambitious goal of 1 billion users for the Smart Wallet. Over the summer, several campaigns have been set up aimed at developers and are intended to reward them for opening their apps to the Smart Wallet.

Conclusion: Smart Wallet has Coinbase behind it

Coinbase launched a network with its Layer 2 for Ethereum called Base in August last year that introduces people to blockchain solutions easily and inexpensively. The Smart Wallet is the next logical step to diversify the actual crypto exchange business model and tap into Web3 with DeFi, blockchain gaming and NFTs.

Competitor Binance launched its own Web3 wallet at the end of 2023. Things are happening with crypto wallets and the Smart Wallet could prove useful for everyday use. However, anyone who wants to keep their Bitcoin (BTC) and other cryptocurrencies safe in the long term should still not do without a hardware wallet like the one from Ledger.


(Featured image by Anna Tarazevich via Pexels)

DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.

This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.

First published in BLOCK-BUILDERS.DE. A third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us

Valerie Harrison is a mom of two who likes reporting about the world of finance. She learned about the value of investing at a young age upon taking over her family's textile business when she was just a teenager. Valerie's passion for writing can be traced back to working with an editorial team at her corporate job, where she spent significant time working on market analysis and stock market predictions. Her portfolio includes real estate funds, government bonds, and equities in emerging markets such as cannabis, artificial intelligence, and cryptocurrencies.