If you’re new to the cryptocurrency world, you may be wondering what the difference is between Coinbase and Coinbase wallet. Both are popular choices when it comes to buying and storing digital currency, but there are some key differences to be aware of.
Coinbase is first and foremost a cryptocurrency exchange. This means that you can use Coinbase to buy and sell various digital currencies on its platform.
In addition to this, Coinbase also allows you to store your coins in a wallet on their site. However, it’s important to note that the Coinbase wallet is not as secure as other options on the market, which we’ll discuss later.
Coinbase wallet, on the other hand, is a standalone app that allows you to store your digital currency offline in what’s known as a “cold storage” device. Cold storage devices are considered much more secure than online wallets because they’re not connected to the internet, which reduces the risk of hacking.
However, it should be noted that if you lose your cold storage device, there’s no way to recover your coins.
So, which should you choose If security is your main concern, then Coinbase wallet is the better option. However, if you’re looking for convenience and want to be able to buy and sell cryptocurrencies on the same platform, then Coinbase is a good choice.