Coinbase® Extension - Coinbase Wallet browser
Open your Phantom browser extension or mobile app, and input your password to access your wallet. Go to Settings, then click Show Secret Recovery Phrase. Enter ...
Let’s address something right off the bat: The term “wallet” in crypto can be slightly confusing because it has several different connotations depending on what you’re trying to do. While we’re primarily going to focus on the “self-custody” category (which includes products like Coinbase Wallet), here’s a quick breakdown of some of the most common categories:
Hosted (or “custodial”) wallets are crypto wallets that centralized exchanges like Coinbase manage on your behalf. When you set up a Coinbase account, we provide you with a hosted crypto wallet to safely store your crypto for you. A hosted wallet allows you to make basic crypto transactions easily — without the need to manage your own private keys (which work sort of like passwords for your crypto).
Self-custody wallets like Coinbase Wallet are popular with users who want to take more control over their assets and are interested in emerging crypto technology like DeFi. With these wallets, you’re responsible for securing your private keys, often with a recovery phrase (more on this below). Importantly, Coinbase will never have access to your private keys or recovery phrase and can’t help you recover them if you lose them. And anyone with your recovery phrase can get access to your crypto — so keep it safe!
Hardware wallets like Ledger are physical devices for storing crypto. They are also self-custody, meaning the same responsibilities around securing your own recovery phrase apply. You can also think of a hardware wallet as a form of two-step authentication — the device acts as a physical key needed for completing any self-custody transactions.
Why it matters… Control of your private keys isn’t the only reason to get a self-custody wallet. Perhaps an even bigger reason is that a self-custody wallet is your passport to the entire universe of decentralized crypto apps (or dapps) that’s emerged over the last several years — in much the same way a web browser is your gateway to the internet. Coinbase Wallet, for instance, supports hundreds of thousands of assets and a variety of blockchain networks. And Coinbase Wallet’s browser extension and mobile app enable you to explore the growing world of Web3: decentralized finance (or DeFi), NFTs, staking, and much more.
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