Set up your wallet
Last updated
Last updated
When you initiate a subscription, we ask you to provide the public address of your Bitcoin or other crypto wallet. Your wallet address is unique and only you are able to access it.
If you don't have a wallet when starting a subscription, it is also possible to check "I'll provide my Bitcoin wallet later" and register it before the end of the first active month. Don't worry, adding your wallet after starting a subscription is easy! Here's how to do it. If you need a reliable wallet for your phone, we recommend Coinbase wallet, one of the most trusted & secure crypto wallets for your mobile phone.
Coinbase Wallet is one of the most secure non-custodian wallets on the market. Designed to safeguard popular cryptocurrencies like Bitcoin, Ether, Ripple, Tezos, Litecoin and many more. The wallet is built and backed by Coinbase, one of the worlds' foremost cryptocurrency exchanges, making it safer and more secure.
In order to use digital assets e.g. Bitcoin, a wallet is the first thing you need. Not only is a wallet required to store your coins, but also to perform any transfer of funds. All wallets uses pairs of keys: public keys, which are public and used for identification, and private keys, which are used for authentication and encryption, and as such need to stay private.
A custodial wallet is a wallet in which your private keys are stored by a third party. This means, you do not have full control over your funds, which exposes these wallets to risk, as the third party might get hacked or fail as a business.
Non-custodial wallets, on the other hand, allow you to fully control your funds and therefore are more secure. You are responsible for keeping your password and recovery phrase secure because any truly noncustodial wallet will not store this information. Non-custodial wallets may be web, paper, mobile, desktop, and hardware wallets — as is the case with custodial ones.
Please note
Do not confuse Coinbase Wallet with Coinbase Exchange — they are not the same.
You can link your Coinbase Wallet to your Coinbase Exchange account. Although both Coinbase Wallet and Coinbase Exchange offer the ability to store major digital assets like Bitcoin, Ether, Ripple, Tezos, Litecoin and others, the way they store it is different: Coinbase Wallet is a non-custodial wallet solution, while Coinbase Exchange is an exchange service with a built-in custodial wallet.
Coinbase Wallet is available on the following links for Android and iOS devices: Android: Coinbase Wallet — Crypto Wallet & DApp Browser iOS: Coinbase Wallet on the App Store
Once you have installed the Coinbase Wallet app on your mobile device you will see the Welcome screen, with the Two options - Create а new Wallet and I already have a wallet.
Choose to Create a new wallet. You will need to go through the Legal pages and accept the terms and conditions.
The next step is to choose a username for your wallet. This can help you in the future to send Bitcoin and other digital assets between Coinbase Wallet users only by using usernames.
Once you choose the username, you should choose privacy preferences. Choose the Public if you want your username to be visible by other users, or Private if you wish to disable this feature.
On the next screen, you will be asked to choose how you would like to protect your wallet. You can choose from passcode and your device protection service - FaceID, Fingerprint, etc. We recommend to set up both.
Next, you will be prompted to backup your wallet with a secret recovery passphrase. This will give you access to your wallet, in the event your hardware (the mobile phone where you installed your wallet) is lost or stolen. You should never share this recovery phrase with anyone else. Basically treat it like the PIN code on your ATM card.
Save the recovery phrase by writing it on a piece of paper that you store somewhere safely, or save it in your password manager.
On the next screen, you will see the user dashboard also called the portfolio. You will have buttons to send and receive funds, and scan QR codes. The total balance of the wallet will also be shown on top of the screen.
