Okay, so the biggest screw up I see with Coinbase Wallet? People skip backing up their seed phrase right away. They think "eh, I'll do it later." Boom. Phone dies, app glitches, and poof-all your crypto's gone forever. No customer service gonna save you. That's the self custody life.
But here's the right way. We're fixing that from jump. Download the app first-grab it from the App Store or Google Play, search "Coinbase Wallet." Not the regular Coinbase app. This one's standalone for full control. Open it up, hit Create a new wallet. Boom, you're in setup mode.
Now, it'll spit out 12 random words. That's your recovery phrase. Write 'em down on paper. Not your phone notes. Not a screenshot. Paper. Hide it safe, like in a fireproof spot. I usually split mine across two locations-paranoid much? Yeah, but it works.
Test it back to the app. They'll ask you to re enter a few words. Nail that? You're golden. Why does this matter? It's your only. Lose it, and you're locked out. No resets.
Alright, wallet created. Tap the top left-your address shows up. Hit Add and manage wallets, then claim a username. Something like yourname.cb.id. Makes sharing easy. No more copying those monster Ethereum strings like 0xabc..forever.
Make it public if you want friends sending you stuff quick. Private? Keeps it stealth. In my experience, public one's handy for tips or airdrops.
Pro move: Always send a tiny test amount first. Like 0.001 ETH. Wait for confirms. Sound familiar? Saved my ass once when I fat fingered a network switch.
Bottom tabs: Assets, Transactions, Explore, Settings. Assets shows your balance. ETH at top usually. Tap to see USDC, SOL, whatever you've added. NFTs down below.
Transactions logs everything. Pending swaps? Right there. Kinda like a bank statement, but transparent.
Explore's gold. DApps galore-Uniswap, Aave. Tap one, connects auto. Price alerts too. Set a watchlist for that next gem.
So, got some ETH but want SOL? Hit Swap on home screen. Picks best rates via 1inch or whatever aggregator they're using. Fees? Gas plus 0.3% swap fee usually. Enter amount, review slippage-set to 0.5% max unless volatile.
Confirm. Done in seconds. But watch network congestion. ETH L2s like Base are cheaper-~0.0001 ETH gas. Switch networks via the dropdown.
| Network | Avg Gas (gwei) | Best For |
|---|---|---|
| ETH Mainnet | 10-50 | Big DeFi |
| Base | 0.01-0.1 | Cheap swaps |
| Solana | ~0.000005 SOL | Speed/NFTs |
| Polygon | 20-100 | Low fees |
Table above? Real numbers I check daily. Base is killer for newbies-Coinbase's own L2, gas pennies.
Stuck on ETH wanting Arbitrum? Bridge tab. Pick from/to chains. Say 1 ETH to Base. Fees ~$2-5 total. Takes 10 mins tops.
Issue? Stuck tx? Check via explorer link in app. Cancel if needed-advanced, but app guides you. I usually bridge small first.
What's next? Batch sends if you're fancy-app supports it now.
Phone not enough? Extension time. Chrome store, search Coinbase Wallet. Add to Chrome, pin the puzzle icon.
Create new or link mobile. Scan QR from phone to connect. Mirrors your balances. Connects to dApps like 1inch.
Pro: Multi wallet support. Run ETH and SOL side by side. I use it for work, phone for mobile.
Explore tab. Uniswap for liquidity pools. Aave for lending-earn 5-10% APY on USDC. Connects one tap.
Risks? Impermanent loss, smart contract bugs. Start small. I threw $100 in Aave once-made $2 week one. Pretty much passive.
NFTs? Gallery tab. Mint on Base cheap. Floor prices track real time.
Wallet not loading? Force quit, relaunch. Clear cache in settings.
Tx failed? Gas too low. Bump it next time-app suggests auto.
Seed lost? Import to new device. But don't lose it again, dummy.
Phishing? Never click sketch links. App warns on shady dApps. Revoke permissions in settings > connected sites.
Two factor? App uses biometrics. Enable notifications for tx approves.
Got funds, wanna cash out? Reverse send to exchange. Or sell in wallet to USD via ramps, but fees higher.
Direct link: In exchange app, select "Send to Wallet." QR scans auto. Zero hassle.
Gas hacks? Use L2s always. Base, Optimism-saves 90%. Track via Dune dashboards in Explore.
Never share seed. Ever. Scams fake "support" sites? Red flag.
Update app weekly. Bugs get patched.
In my experience, 90% hacks from phishing. Double check URLs. Wallet address first chars match? Good.
Question: Phone stolen? Remote wipe via seed on new device. But biometrics lock it quick.
Swaps: 0.3% + gas.
Bridge: 0.1-1% + gas.
Send ETH: ~$1-10 depending gwei.
SOL/USDC: Pennies. Like 0.0001 SOL.
Top left > manage. Create/import up to 10 easy. Switch via dropdown.
Label 'em: "Daily driver," "DeFi experiments." Keeps chaos out.