Coinbase, Exchanges

What Is Difference Between Coinbase and Coinbase Wallet?

What is the difference between Coinbase and Coinbase Wallet?

This is a question that often comes up for those new to the cryptocurrency space. Coinbase is one of the most popular exchanges where you can buy and sell Bitcoin, Ethereum, and Litecoin.

They also offer a hosted wallet service called Coinbase Wallet. So, what is the difference between Coinbase and Coinbase Wallet?.

Coinbase is primarily an exchange. This means that it is a platform where you can buy and sell cryptocurrencies.

NOTE: WARNING: Before using Coinbase or Coinbase Wallet, it is important to understand the difference between them. Coinbase is a cryptocurrency exchange platform that allows users to buy and sell cryptocurrencies. Coinbase Wallet is a cryptocurrency wallet designed to store, receive and send digital assets like Bitcoin, Ethereum or Litecoin. It is important to note that Coinbase Wallet does not support buying or selling cryptocurrencies and therefore should not be used as an exchange platform.

You can also store your cryptocurrencies on Coinbase, but they do not recommend this because they do not control the private keys to your coins (meaning that if Coinbase were to be hacked, your coins could be stolen). For this reason, they recommend that you use their Coinbase Wallet service to store your coins.

Coinbase Wallet is a hosted wallet service provided by Coinbase. This means that they control the private keys to your coins and you rely on them to keep your coins safe.

While this may be less secure than storing your own coins on a hardware wallet or paper wallet, it is still more secure than storing them on an exchange like Coinbase. Additionally, Coinbase Wallet offers some features that are not available on other wallets, such as the ability to easily back up your wallet with a 12-word seed phrase.

In conclusion, Coinbase is an exchange where you can buy and sell cryptocurrencies, and Coinbase Wallet is a hosted wallet service provided by Coinbase where you can store your coins.

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