We often get confused relating to the several concepts associated with the crypto realm. Digital assets have brought a revolution in the trade and investment journey. A lot of people are engaged in activities relating to crypto assets.
There are several crypto exchanges and wallets that add convenience to the working of crypto investors. But, we as a human often take some terms as synonyms or one and the same. Isn’t it?
Not sure. Let’s take an instance of the Coinbase and Coinbase wallet. I have noticed that many of the investors think that both are the same. But is it really so?
The answer to it is “NO”. Both are different from one another, but why do we get confused then, especially novice investors is a major question.
The most possible reason for it may be that they are closely related to one another. So, to give you a crystal clear idea of it, we have prepared this read.
Let’s step ahead to learn about the same.
What is Coinbase?
Crypto assets are digital funds, which means that they do not have any physical existence. In other words, we can say that they are intangible.
If they don’t have any physical existence then how can one trade into these assets?
For this purpose, crypto exchanges were introduced and Coinbase is one such crypto exchange. The cornerstone function of the exchanges is to bring digital assets and potential crypto investors to one place so that they can easily carry out the trade and investment activities of digital funds.
With this, you might have got a rough idea of Coinbase.
A look at the Coinbase wallet
Now, with the crypto exchanges, you might have embarked on your trade and investment activities. By doing so, you might be yielding handsome profits. Another question that comes here is how you are going to manage your earned digital funds.
Looking at this necessity of the investors crypto wallets came into existence. Just like physical wallets, crypto wallets are also used to store, organize, and better manage the valuable funds earned through the trade of digital assets. The same is the function of the Coinbase wallet. The wallet is password protected which denotes that only the real owner of the wallet can get into the account and access his funds.
The crypto wallet also opens up a vast universe of crypto applications. You can even send, and receive digital funds from the other party. The wallet is compatible with both mobile devices and computers/laptops. To operate it on a mobile device you can get an app. But to use it on a computer, users have to get a Chrome extension first.
Closing Thoughts!!
The above read was furnished to help you distinguish between the Coinbase and the Coinbase wallet. Check the authenticity of the app before getting it. Hope that after going through this discussion you will not get confused between the both in the future.
