Getting Started with Coinbase Wallet: A Beginner’s Guide to Trading Your First Cryptocurrency

Cryptocurrency offers you financial independence, but it also comes with the responsibility of managing your own assets. A self-custody wallet like Coinbase Wallet gives you full control over your crypto. Unlike exchange wallets, where third parties hold your funds, Coinbase Wallet puts the ownership directly in your hands.

Part 1: Setting Up Coinbase Wallet

— Step 1: Download Coinbase Wallet

1. Mobile users:
   — Go to your device’s app store (Google Play Store for Android, or App Store for iOS).
   — Search for “Coinbase Wallet” and download the app.
2. Desktop users:
   — Go to [wallet.coinbase.com](https://wallet.coinbase.com).
   — Download the browser extension for Chrome or Firefox.

Important: Coinbase Wallet is separate from the Coinbase exchange app. Make sure you’re downloading Coinbase Wallet to have full control of your private keys and assets.

— Step 2: Create a New Wallet

1. Open the Coinbase Wallet app and tap “Create a new wallet.”
2. Set up a username: This is your public identifier within the wallet ecosystem. Keep in mind that this name can be shared with others to receive funds but does not expose your private keys or sensitive data.
3. Backup your seed phrase:
   — You’ll be shown a 12-word seed phrase. This phrase is the key to accessing your wallet.
   — Write it down physically and store it in a secure place (avoid storing it digitally). If you lose access to your device, this phrase is the only way to recover your wallet.
   — Do not share this phrase with anyone. If someone gains access to it, they can control your assets.
4. Set a strong password: After backing up the seed phrase, you’ll be prompted to set a password for app access. Make sure it’s strong and unique to ensure your wallet is secure.

Note: If you lose both your seed phrase and your password, you will permanently lose access to your funds.

— Step 3: Fund Your Wallet

To trade crypto, you need to add funds to your wallet.

1. Receive crypto from an external…