The use of coinbase wallet gives you the ability to have sole custody of your crypto funds.
But to keep your funds safe, you must know how to protect coinbase wallet.
This is very important as it will help you secure your crypto funds well.
There are diverse ways you can make use of to protect your wallet.
You can make use of the touch ID.
You can also add a password to your wallet.
Also, you have to make the safety of your recovery phrase a priority too.
In this guide, you will be taken through all the steps in which you can use to keep your coinbase wallet safe.
Reasons Why You Should Protect Coinbase Wallet
When it comes to your crypto funds, it is very important that you protect them.
Some of the reasons include;
1) To Increase The Privacy Of Your Crypto Assets
One of the things you should try and avoid is how easy it is for people to access your wallet.
Access to your crypto wallet should be majorly exclusive to you.
When this happens, you curtail the probability of someone knowing the worth of your wallet.
An evil minded person having access to the net worth of your coinbase wallet is really bad.
It will lead to thoughts of a possible exploitation.
So to avoid this, make sure that you protect your wallet with a high level of priority.
2) Coinbase Wallet Protection Avoids Hacking Of Wallet
When you take the protection of your coinbase wallet seriously, your funds will be safe.
Hackers do not just dream of a wallet to hack.
There is always a weak link that they exploit to their advantage.
Mostly it is always a mistake from the owner of the coinbase wallet.
These are some security measures that some people do not consider important.
When hackers see this flaw, they make use of it and hack your coinbase wallet.
But when you protect coinbase wallet, the activities of hackers are useless.
How To Protect Coinbase Wallet
Concerning the safety of coinbase wallet, there are diverse ways you can use to protect it.
1) Secure Coinbase Wallet With Password
One of the best ways you can keep your coinbase wallet protected is by using a password.
With the use of a password, you have boosted the safety of your coinbase wallet.
This will help in reducing or eliminating unauthorized access to your wallet.
This is because before someone access your coinbase wallet with your device, the password will be required.
Also, before a withdrawal is made from your account, the wallet password will be requested too.
This puts you a step ahead of the game a hacker plays.
2) Protect Your Coinbase Wallet With Touch ID
Another way you can keep coinbase wallet safe is with the use of a touch ID.
This has been a better option for most people.
With the use of a password, someone might hide and see the combinations you input as password.
But with the use of a touch ID, you basically use your finger to access your wallet.
This keeps the access of people totally away from your coinbase wallet at all times.
Apart from that, it is a very easy way for you to use and access your protected wallet.
With just a contact with your assigned finger, you instantly gain access.
3) Protect Coinbase Wallet By Keeping Recovery Phrase Secured
This is the greatest way you can protect your coinbase wallet.
Any mistake in this, your crypto assets are gone.
You can easily protect your wallet with password.
You can also secure coinbase wallet with touch ID too.
But irrespective of how strong your coinbase wallet password or touch ID is, it cannot grant you total protection if you are careless with the recovery phrase.
With the recovery phrase, your wallet can be easily restored anytime.
If you become careless with your recovery phrase, you will easily lose your crypto assets.
This occurs when a wrong person gains possession of your coinbase recovery phrase.
With the recovery phrase, your wallet can be restored on another device.
This gives the person full control of your wallet including the funds in it.
So make sure you protect your coinbase wallet recovery phrase well.
How To Protect Coinbase Wallet With Password
You can easily secure coinbase wallet with a password.
This can be done when you setup a new coinbase wallet or when you restore coinbase wallet.
It can also be done while using the coinbase wallet in your device.
To do this, select the set up password option.
This will request you to input the password combination that you want to use.
Make sure you are not casual about the password that you use.
Make it a strong password.
Also make sure that it is a password that you can easily remember.
When you are done inputting the password, input again to confirm the password.
This will bind the password to your coinbase wallet.
Anytime you want to login to coinbase wallet, the password will be requested.
Also, when you want to make a withdrawal from coinbase wallet, the password will also be required.
When you protect coinbase wallet with password, it keeps your account more secured.
How To Protect Coinbase Wallet With Touch ID
Some people always like to secure coinbase account with touch ID.
This is because of the smoothness and ease of use that it has.
Sometimes when you make use of a coinbase wallet password, someone may peep and see them when you input.
But in the case of a touch ID, that is not possible.
That is why some people prefer it a lot of times.
You can setup a touch ID on a new coinbase wallet or with an existing coinbase wallet.
With this, you have added an extra layer of protection to your wallet.
To do this, click on use touch ID.
This will now make use of your finger to access your coinbase wallet.
It is very easy to setup but at the same time, it offers a lot of benefits to your wallet.
When you Protect Coinbase Wallet With touch ID, it secures your coinbase wallet more.
The need to secure coinbase wallet is a high requirement.
This will make sure that your funds are always safe.
So in all the crypto wallets that you make use of, make sure that you keep them well protected.
In the course of this guide, many of such measures have been discussed.
Which include protect coinbase wallet with password.
Also you secure coinbase wallet with touch ID.
Irrespective of using the password and touch ID, make sure that you keep your coinbase recovery phrase safe.
With this, your wallet protection is really boosted from a potential attack.