Coinbase Wallet
Coinbase Global
Coinbase Wallet is Coinbase's self-custody wallet, distinct from the custodial Coinbase exchange app of the same name: private keys stay on the user's device, protected by a 12-word recovery phrase (BIP-39 standard), and not even Coinbase can access the funds. It is multichain (Ethereum and EVM networks like Polygon, Arbitrum, Optimism, Base, plus Bitcoin, Solana, Dogecoin and Litecoin) and includes swaps, a dApp browser, WalletConnect and a fiat on-ramp. It offers an optional encrypted key backup to Google Drive or iCloud, decryptable only with the user's password.
Data & conditions
| Fund custody | Self-custody (funds in your control) |
|---|---|
| Type | Software (hot wallet) |
| Source code | Closed-source |
| Recovery | Seed phrase 12 parole (BIP-39) |
| Bitcoin-only | No |
| Supported chains | Ethereum, Bitcoin, Solana, Polygon, Arbitrum, Optimism, Base, Avalanche |
| Built-in swap | Yes |
| dApp browser | Yes |
| WalletConnect | Yes |
| Hardware wallet support | Yes |
| Built-in fiat on-ramp | Yes |
| Segment | B2C |
| MiCA / License status | Nessuna (wallet self-custody non-custodial) |
Strengths
- Genuinely multichain (beyond EVM it also supports Bitcoin and Solana); built-in swaps, dApp browser and fiat on-ramp; optional encrypted backup to your own cloud.
- Self-custody: funds stay in your wallet — the platform cannot touch them.
- No KYC: usable without identity verification.
Weaknesses
- The wallet app is closed-source (only the connection SDKs are public); the privacy policy allows IP collection; easy to confuse with the custodial Coinbase exchange app.
- Closed source: no way to verify what it does with wallet and data.
Verdict
Score 4.3/5, very strong profile. In its favour: genuinely multichain (beyond EVM it also supports Bitcoin and Solana); built-in swaps, dApp browser and fiat on-ramp; optional encrypted backup to your own cloud. The trade-off to weigh: the wallet app is closed-source (only the connection SDKs are public); the privacy policy allows IP collection; easy to confuse with the custodial Coinbase exchange app.
On the Sovereignty lens the score is 3.0/5 (solid): the strength is fund control (5.0/5), while trustless / auditability (0.0/5) is the weak link.
Promp's editorial rating based on real fees and net annual cost. Promp reviews third-party products independently.
"Sovereignty" rating: score computed on privacy/anonymity (30%), fund control (20%), censorship resistance (20%), trustless/auditability (20%) and costs (10%). Same data, different weights.
FAQ
Is Coinbase Wallet the same as the Coinbase app?
No. The Coinbase app is a custodial exchange where Coinbase holds the keys. Coinbase Wallet is a separate self-custody wallet: your private keys and 12-word recovery phrase stay on your device and Coinbase cannot access the funds.
Which blockchains does Coinbase Wallet support?
It supports Ethereum and EVM-compatible networks (Polygon, Arbitrum, Optimism, Base, Avalanche and more), plus Bitcoin, Solana, Dogecoin and Litecoin, across thousands of assets.
Is Coinbase Wallet open source?
No, the wallet app is closed-source. Coinbase publishes only connection SDKs and libraries on GitHub (e.g. coinbase-wallet-sdk), not the app's source code.
Sources
- Official service page Custodia · Funzioni Data verified on Jun 20, 2026
- github.com Sovranita.open source Data verified on Jun 20, 2026
- help.coinbase.com Recovery · Backup Data verified on Jun 20, 2026
- learn.opensea.io Blockchain · BIP39 Data verified on Jun 20, 2026