Coinbase Wallet

Coinbase is one of the world’s biggest and most trusted crypto exchanges; however, it also offers a cryptocurrency wallet where its users can store, manage, and interact with thousands of cryptocurrencies.

With its user-friendly mobile app and easy-to-use interface, Coinbase wallet is an excellent choice for anyone who wants to keep his assets safe as well as access one of the many features the wallet offers. Yet, while Coinbase wallet includes many advantages, the question remains – can it be used for online crypto betting?

How To Sign Up at Coinbase

Setting up a Coinbase wallet is straightforward and takes no longer than a few minutes. All you need is your phone or browser and internet connection, and you can begin by visiting the official Coinbase website.

Visit Coinbase or App Store/Google Play Store
Download the Coinbase Wallet app
Open the app and create a new account
Pick a strong password and enable 2FA authentication
Save your recovery phrase
Complete the registration

The registration procedure is free as it does not require users to pay any money to download the app or create an account. Once set up, Coinbase Wallet also includes a browser extension and is even compatible with Ledger, adding a layer of security.

Using a Coinbase Wallet for Crypto Betting

While setting up a cryptocurrency wallet is one of the first steps anyone who intends to use crypto sportsbooks must take, Coinbase Wallet might not be the best option. As per its user agreement, the Coinbase wallet can not be used on any betting or gambling site, as stated under the “Unlawful Gambling section.”

Lotteries; bidding fee auctions; sports forecasting or odds making; fantasy sports leagues with cash prizes; internet gaming; contests; sweepstakes; or games of chance that are not sanctioned by a governmental body or regulatory authority.

Buy & Sell Crypto at Coinbase

While the Coinbase wallet is not necessarily connected to your Coinbase account, it is advisable to have both, enabling users to buy and sell crypto assets through the Coinbase exchange seamlessly.

Users can sell crypto through Coinbase Wallet either on the mobile app or via the browser extension by following a few simple steps.

Sign in to your Coinbase account
Select “Buy & Sell” tab and pick Sell
Enter the amount you want to sell
Pick the asset you would like to sell
Select “Preview Sell”
Select “Sell Now”

To buy crypto:

Sign in to your Coinbase account
Select the “Buy & Sell” tab and pick Buy
From the buy tab, select the asset you want to purchase
You can pick between a one-time order or a recurring buy
Select the payment method
Click “Preview Buy”
Select “Bell Now”

Note that minimum purchase amounts will apply depending on the individual crypto asset.

FAQ

Can you use Coinbase Wallet for betting?

As per the terms and conditions, Coinbase Wallet can not be used for online crypto betting or gambling. However, it is still an excellent wallet for managing and storing your cryptocurrencies.

Can you buy and sell crypto at Coinbase Wallet?

Yes, Coinbase Wallet can be used to buy and sell cryptocurrencies by connecting it with the Coinbase crypto exchange. All purchases and withdrawals can be done through the app quickly and effortlessly; however, minimum purchase amounts will vary depending on the asset chosen.

Is Coinbase Wallet safe?

Coinbase Wallet is known as one of the safest hot wallets for cryptocurrencies and NFTs. It protects your assets with advanced security features and is also compatible with the Ledger wallet, making it an excellent choice for anyone who wants a secure crypto wallet.