Developed by Coinbase Global Inc. and formerly known as Coinbase Wallet, Base Wallet is a web browser and mobile-based software tool that lets you perform a range of crypto-related tasks. Also referred to as Base app, it’s a self-custody hot wallet – meaning that you get full control over your private keys (password to access/recover wallet), and it always stays online.

The Base Wallet’s services extend well beyond sending, receiving, and storing crypto, including social networking, exploring decentralized finance (DeFi) apps, chatting with friends, collecting non-fungible tokens (NFTs – digital collectibles), trading, staking (locking up crypto for returns) and handling payments.

It also comes with smart wallet options like transaction fees coverage and passkey backups for easy account recovery. The wallet is compatible with several blockchain networks, including Solana and Ethereum, supporting millions of digital assets.

[Note: In May 2025, Coinbase experienced a security breach with attackers stealing nearly 70,000 users’ personal data. However, no private keys were compromised and all impacted users were reimbursed.]

Base Wallet: Key Points

• Self-custody hot wallet giving users direct control over their private keys and assets
• Gives the option to explore millions of cryptocurrencies across several blockchains
• Can be used as a mobile app (iOS and Android) or in a web browser environment
• Goes beyond basic storage, offering integrated social and DeFi tools
• Comes with NFT support, facilitating minting, trading and storage of NFTs

Base Wallet: Functions and Services

The Base Wallet offers a comprehensive range of tools for managing crypto assets. Let’s go over some of its main offerings below:

Storage and asset management

The wallet claims to support millions of assets, including Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and thousands of ERC-20 (a token generation model on the Ethereum blockchain) tokens. This enables sending, receiving and storage of diverse crypto assets across different blockchain networks, without the need for separate apps.

In-wallet buying, selling, and swapping capabilities

You can buy crypto directly using cards, bank accounts, or local payments in 120+ countries. The wallet has 75+ decentralized exchanges (DEXs) like Uniswap, Quickswap and others working in the background, facilitating swaps between millions of different cryptocurrencies. The selling feature connects users to markets and third-party providers for cashing out.

Staking, yield farming and governance features

The Base Wallet enables connection to DeFi protocols to stake assets like USDC, Ethereum and others. Staking involves locking up crypto to help secure a blockchain network and earning rewards in return. Think of it as lending your car to a ride-share service for a cut in the fares. You can also participate in yield farming and deposit your crypto assets for interest income. The governance feature facilitates voting on blockchain projects’ decisions by holding their tokens.

NFT support

You can mint, trade and store NFTs on blockchains like Solana and Ethereum. The collection can be viewed in-app, and trading happens by connecting to external NFT marketplaces like OpenSea, Magic Eden and Blur.

Built-in browser for connectivity to other services

With a built-in browser that connects to decentralized applications (dApps – apps built on blockchain), the Base Wallet works as a hub for various Web3 activities. It offers functionalities like social interactions, gaming, lending, trading, bridging (moving/exchanging crypto assets across different blockchains) and more. The available dApps include moshi.cam (an on-chain photosharing app), Soulbound TV (a next-gen decentralized TV service), Fit Club (a fitness app that rewards for walking), Tribally (a gaming app), Pods (a platform for on-chain podcasts), Sound (new music discovery app), deBridge (an asset bridging app) and more.

On- and Off-Ramp Capabilities of Base Wallet

The term ‘on-ramp’ refers to the process of converting conventional money like US dollars or Euros into cryptocurrency, while ‘off-ramp’ is the opposite: converting crypto back into conventional currency. Base Wallet facilitates both these operations indirectly. 

While the app itself is mainly for storing crypto assets and on-chain activity, it connects you to third-party services or exchanges (including the Coinbase ecosystem) to buy crypto with bank accounts, cards, digital payments and local payment methods in 120+ countries.

For the off-ramp, you can convert your crypto assets to local currency via the app’s ‘Cash Out’ service, which would connect you to a crypto exchange or a third-party provider. 

Please note that the available options for buying and cashing out crypto may vary depending on the region and regulatory support.

Is Base Wallet safe to use in 2025?

From a safety standpoint, it’s important to remember that the Base Wallet uses a self-custody structure. Your private keys are generated and stored on your device, with access secured via a mobile app-enabled passkey or a 12-word recovery phrase, and optional encrypted cloud backup. While this simplifies regular logins and account restoration, misplacing the passkey/12-word phrase can lead to irretrievable asset loss.

The wallet also adds two-factor authentication (2FA), biometrics and user-managed dApp approvals for an added safety layer. 

On the whole, the Base Wallet can be termed as a dependable tool if you follow good security practices like staying alert to phishing attempts, safeguarding passkey/12-word recovery phrases and double-checking links before clicking. 

It’s worth noting that the Coinbase exchange suffered a security breach in May 2025, where criminals stole personal data of nearly 70,000 users. However, the Base Wallet’s self-custody model ensured that no private keys were compromised. The company reimbursed all impacted users.

Base Wallet FAQs

Is Base Wallet suitable for long-term storage?

Although it can store your crypto assets indefinitely as a self-custody wallet, being a hot wallet exposes it to internet risks. For large sums, it may be better to combine it with offline storage in cold wallets. 

Is the Base Wallet app the same as the Coinbase app?

No. Although Base Wallet is the rebranded version of the Coinbase Wallet, it’s not the same as the Coinbase app. The latter is a custodial exchange app (private keys controlled by the exchange) for buying, selling and trading crypto assets, while the Base Wallet app is a self-custody wallet that gives users direct control over their private keys and crypto assets.

How beginner-friendly is Base Wallet?

Designed for both beginners and advanced users, the Base Wallet has an intuitive layout for storing, transferring and exploring crypto. While its broader features add some complexity, beginners can take their time to get acquainted with them gradually.

Can I use Base Wallet on both desktop and mobile devices?

Yes, the Base Wallet is available on both desktop (from a web browser or as a browser extension) and mobile (iOS and Android) devices. The same wallet can be accessed across all preferred platforms using your passkey or 12-word recovery phrase.

Does Base Wallet charge any fees for conversions or transactions?

While the wallet itself doesn’t charge any fee for holding crypto, any on-chain action, such as sending crypto or swapping assets, will incur a gas fee (network fee). There might be app-specific charges too, normally small percentages, which are shown upfront before executing any transaction.