Coinbase Extension® — Getting Started | Coinbase Wallet®
The Coinbase Extension®, commonly known as the Coinbase Wallet® browser extension, is a self-custodial Web3 wallet designed to help users securely manage digital assets and interact with decentralized applications directly from their web browser. Unlike custodial exchange accounts, the Coinbase Wallet® extension gives users full control over their private keys, enabling a more decentralized and permissionless crypto experience.
This guide provides an overview of how to get started, what to expect from the extension, and the fundamental principles users should understand before using it.
What Is the Coinbase Wallet® Extension?
The Coinbase Wallet® extension is a non-custodial crypto wallet that runs in supported browsers such as Chrome-based browsers. It allows users to store cryptocurrencies, manage NFTs, and connect to decentralized applications (dApps) including DeFi platforms, NFT marketplaces, and Web3 games.
Because it is self-custodial, the wallet does not rely on centralized account access. Instead, users manage their wallet through a recovery phrase, which acts as the ultimate key to their funds and identity on the blockchain.
Installing and Setting Up the Extension
Getting started begins with installing the official Coinbase Wallet® extension from a trusted browser extension marketplace. Once installed, users are guided through an onboarding process that includes creating a new wallet or importing an existing one.
During setup, the wallet generates a recovery phrase, typically consisting of 12 or 24 words. This phrase is critical and should be stored securely offline. Anyone with access to this phrase can control the wallet and its assets. There is no password reset or account recovery mechanism through Coinbase or any third party.
Users also create a local password for device-level protection. This password helps prevent unauthorized access on the same device but does not replace the recovery phrase.
Managing Digital Assets
After setup, users can begin managing supported cryptocurrencies and tokens. The Coinbase Wallet® extension supports multiple blockchain networks, allowing users to hold assets across ecosystems within one interface.
The wallet provides balance tracking, transaction history, and the ability to send or receive assets by interacting directly with blockchain networks. Network fees, often called gas fees, apply to transactions and vary depending on network conditions.
Because transactions are blockchain-based, they are generally irreversible once confirmed. Users are encouraged to double-check addresses, networks, and transaction details before confirming any action.
Connecting to Web3 and dApps
One of the primary benefits of the Coinbase Wallet® extension is seamless Web3 connectivity. When visiting a supported decentralized application, users can connect their wallet directly through the browser. This connection allows the dApp to request transaction approvals, signature confirmations, or read-only access to wallet addresses.
Common use cases include swapping tokens on decentralized exchanges, participating in DeFi protocols, minting NFTs, or interacting with DAO governance platforms. Each interaction requires explicit user approval, maintaining a layer of user consent and transparency.
Users should be cautious and only connect their wallet to trusted dApps, as malicious smart contracts can potentially exploit permissions if misused.
NFTs and Digital Collectibles
The Coinbase Wallet® extension also supports non-fungible tokens (NFTs). Users can view, store, and manage NFTs associated with their wallet addresses. NFTs may represent digital art, collectibles, access tokens, or in-game assets.
Because NFTs are stored on the blockchain, visibility and availability depend on the network and marketplace standards. The wallet acts as an interface, not a custodian, meaning users retain ownership at all times.
Security and Responsibility
Security is a shared responsibility in self-custodial wallets. While the Coinbase Wallet® extension incorporates encryption and secure design principles, users must take active steps to protect their assets.
Best practices include safeguarding the recovery phrase, avoiding phishing websites, verifying smart contract interactions, and keeping devices free from malware. Users should never share their recovery phrase or approve transactions they do not fully understand.
It is also recommended to regularly review connected dApps and revoke permissions that are no longer needed.
Understanding the Difference from Coinbase Exchange
It is important to distinguish between the Coinbase Wallet® extension and the Coinbase centralized exchange. The wallet operates independently of exchange accounts and does not require identity verification. Funds held in the wallet are not accessible or recoverable by Coinbase.
This separation reinforces user autonomy but also means users are fully responsible for their assets.
Final Thoughts
The Coinbase Extension® offers a gateway into the decentralized Web3 ecosystem, providing users with control, flexibility, and direct blockchain access. For those seeking to explore DeFi, NFTs, and decentralized applications while maintaining ownership of their assets, the Coinbase Wallet® extension serves as a practical starting point.