Cryptocurrency exchange Coinbase today enabled support for the Solana blockchain on its Coinbase Wallet browser extension. Coinbase Wallet users can now manage their Solana (SOL) and Solana-based SPL tokens using the extension.
Prior to adding Solana, the Coinbase Wallet extension supported Ethereum, Polygon, Avalanche, and the BNB Chain, among others. By adding Solana support, Coinbase positions its wallet as a competitor to leading Solana wallets Phantom and Solflare.
While the Coinbase wallet now offers support for SOL and SPL tokens, it doesn’t yet allow users to manage Solana NFTs directly within the wallet. It’s also worth noting that Solana tokens will only be visible via the Coinbase wallet browser extension at launch—the Coinbase Wallet mobile app won’t show them.
Users can move their tokens from an existing Solana wallet to a Coinbase wallet by inputting their confidential recovery phrase into the Coinbase wallet browser extension on setup.
“In the coming months, we’ll be adding support for Solana NFTs and the ability for you to connect your wallet to Solana dapps to interact with everything the Solana ecosystem has to offer,” Coinbase senior product manager Adam Zadikoff said in a release.
For many cryptocurrency users, having multiple wallets for different blockchains can feel like a cumbersome experience. To address this, wallet providers have sought to consolidate and support various blockchains and their native coins. Popular Ethereum wallet Metamask, for example, supports Polygon, Avalanche, and Fantom. It does not, however, support Solana, since the network is not Ethereum Virtual Machine (EVM) compatible.
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FAQs
Coinbase Wallet supports the following networks: Ethereum, Polygon, Bitcoin, Dogecoin, Litecoin, Stellar Lumens, XRP, and Solana. Coinbase Wallet also supports the following Ethereum Layer-2 networks: Arbitrum, Avalanche C-Chain, BNB Chain, Fantom Opera, Optimism, Polygon, and Gnosis.
What is the best wallet for Solana? ›
Top Solana Wallets to Consider
- Phantom Wallet: Most Versatile Multi-Chain Wallet for Solana. ...
- Solflare: User-Friendly and Versatile SOL Wallet. ...
- MetaMask (Snaps): Most Popular Web3 Wallet for Crypto Lovers.
- Tangem. ...
- Exodus Wallet: Popular Choice for SOL Staking. ...
- Ledger Nano X: Beginner-Friendly Hardware Wallet.
Close and re-open your app or browser. Update your app to the latest version (if necessary). Confirm that you provided the sender with both the correct: Address.
How do I withdraw from Solana from Coinbase? ›
Withdrawing crypto assets
- Find the asset you want to withdraw and click Withdraw from the Actions column on the far right (if you can't take any actions, your user role doesn't have the permissions to perform those actions)
- Click Withdraw to External Address or Transfer Funds Internally.
Coinbase Wallet allows you to create up to 15 "sub-wallets" linked to one recovery phrase on your Ethereum and Solana wallet. Each sub-wallet gives you a unique Ethereum and Solana address for you to send funds to that wallet.
Is Solana not on Coinbase? ›
Yes, Solana is currently available on Coinbase's centralized exchange.
What is Solana's official wallet? ›
Solana wallets are cryptocurrency wallets built for the storage and transfer of Solana (SOL) tokens. Most of them even support DeFi activities on Solana, such as swapping, bridging, and staking. There are generally two types of wallets for storing SOL and other cryptocurrencies.
What is the safest way to store Solana? ›
Best Solana Hardware Wallet for Staking: Ledger Wallet
As far as safety goes, it's one of the best out there with a 24-word seed phrase acting as the gatekeeper plus a regular password for protection. The list of Solana validators is also available for staking selection.
Is Coinbase Wallet safe? ›
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.
Why is my money stuck in Coinbase Wallet? ›
Funds on hold
When you use a linked bank account (ACH) to buy crypto or add cash to your account balance, the funds are placed on hold and won't be immediately available to send or cash out. Think of this like depositing a check to your bank account and having to wait for it to clear before you can remove the funds.
Yes, there is a 2.49% fee to convert cryptocurrency to fiat within Coinbase Wallet. What happens to Coinbase Wallet if Coinbase fails? If Coinbase were to shut down, users would be protected by insurance coverage for at least part of their funds.
Can Coinbase Wallet hold Solana? ›
Coinbase Wallet supports Ethereum, Solana, and all EVM-compatible networks in both the mobile app and browser extension. Coinbase Wallet comes with the following networks already configured, however you can add other EVM-compatible networks manually as well: Arbitrum. Avalanche C-Chain.
Why can't i withdraw Solana? ›
You might come across a 'Sorry, internet seems to be down', 'Sorry, insufficient funds' or 'A network error occurred' error message when attempting to unstake or withdraw an inactive SOL stake. This can happen if your Available balance doesn't have sufficient SOL to cover the transaction fee.
Why won't Coinbase let me cash out? ›
Funds on hold
During the hold period, you can still sell or trade crypto that you bought with these funds, or you can use the funds to buy crypto. However, until the hold is removed, you won't be able to cash the funds out or send any crypto bought with these funds from your Coinbase account.
What wallets support Solana pay? ›
Solana Pay
- Phantom (iOS, Android)
- Solflare (iOS, Android)
- Glow (iOS, Android)
- Decaf Wallet (iOS, Android)
- Espresso Cash (iOS, Android)
- Ottr (iOS, Android)
- Ultimate (iOS, Android)
- Tiplink (Web)
How to Add Solana to MetaMask
- Step 1: Obtain the Wrapped Solana Contract Address. First, head to the CoinMarketCap page containing the Wrapped Solana's contract address. ...
- Step 2: Confirm Default Network on MetaMask. ...
- Step 3: Import and Add Solana to MetaMask.
