Coinbase Adds Solana Tokens to Self-Custody Wallet in Non-EVM First (2024)

FAQs

Is Coinbase wallet EVM compatible? ›

Coinbase Wallet supports Ethereum, Solana, and all EVM-compatible networks in both the mobile app and browser extension.

A self-custodial crypto wallet is a digital wallet where you keep total control of your cryptocurrencies and other digital assets, such as Bitcoin, Ether, and Bitcoin.com's official token VERSE.

If you're a Coinbase customer, you have your choice of a hosted wallet or a self-custody wallet. The Coinbase app, where you buy and sell crypto, is a hosted wallet. You can also download the standalone Coinbase Wallet app to take advantage of the benefits of a non-custodial wallet.

MetaMask is a popular EVM compatible crypto wallet. Rainbow is a user-friendly wallet on Ethereum with bridging and cross-chain swaps to Layer 2s. Rabby Wallet is a wallet for Ethereum and all EVM chains.

You can use Coinbase Wallet to send and receive supported cryptocurrencies and digital assets such as ERC-20 tokens. Coinbase Wallet supports the following networks: Ethereum, Polygon, Bitcoin, Dogecoin, Litecoin, Stellar Lumens, XRP, and Solana.

What is the difference between the smart wallet and the Coinbase Wallet mobile app or extension? The smart wallet allows you to create a wallet in seconds with no extension or app installs.

Keep your assets secure

Coinbase Wallet is a self-custody web3 wallet, putting you in full control of the private keys to your assets on the blockchain. Nobody, including Coinbase, can access your tokens or NFTs without your recovery phrase.

The main difference between custodial and non-custodial wallets is that custodial wallets give a third party the permission to hold your private keys, whereas non-custodial wallets give you sovereign control of your private keys.

On the other hand, a non-custodial wallet is a type of cryptocurrency wallet where the user has complete control over their private keys. This means that the user is responsible for securing their cryptocurrency and ensuring that it is safe.

Should I use a non-custodial wallet? ›

Popular non-custodial crypto wallets are reliable, but still have their disadvantages. If the private key and the phrase to recover it are lost, the funds will also be irretrievably lost. It is worth being especially careful with “brainwallet”, i.e. with storing data in your memory or on paper.

High Transaction Fees: Compared to other wallets, the transaction fees users pay for buying and selling crypto on the Coinbase exchange are extremely high. Limited NFT support: While Coinbase Wallet supports NFTs, it can only send and receive Ethereum and Polygon NFTs.

With your Coinbase wallet address in hand, you can now add the Solana network to your wallet. To do this, you'll need to use a decentralized wallet interface such as MetaMask or Trust Wallet. These interfaces allow you to interact with different blockchains and add custom networks to your wallet.

Yes, Solana is currently available on Coinbase's centralized exchange.