Don’t you get bored and tired of doing the same things every single day? A little change is what everyone needs in their life. This is the same with the crypto users. They also get bored of using the same crypto wallet platform regularly. So, why don’t you give a try to some other crypto wallets? Who knows maybe you find a better wallet than the one you currently use. The next question that arrives in your mind is which wallet you should use. 

Well don’t worry we are here to help you out, in this write-up we will be helping you in analyzing a famous crypto-storing wallet called Coinbase. This wallet is available to be used as a mobile application as well as a Coinbase Wallet Extension.

Why use Coinbase Wallet?

The wallet is extremely beneficial for those who are beginners and do not have any issue in spending a little money as the fees charged by the wallet are a little expensive. But spending that money is worth it because of its exceptional features. Below are some of those features:

• The Coinbase Wallet Extension is a decentralized wallet that allows users to keep more than 100,000 digital assets in their wallet account.
• Even the swapping of Polygon and the Ethereum-based digital coins could be done on the platform itself.
• The users can get a large range of varieties to trade in from the listed tokens on the Wallet. Almost all of the popular tokens are listed on it.

Scams on Coinbase Wallet Extension

Although we have told you about some of the amazing features of the wallet, the next thing that should be discussed is what type of scams could happen with you on this wallet extension.

• Phishing

It is easy to create a fake website that resembles the same as the original one. The creators must use some developing tools to create the same replica of the original website. So, many times the users write their account details on these websites without checking the link and confirming whether it is original or not.

• Scams like Giveaway

Youngsters nowadays believe everything that is being displayed on social media. It is one of the easiest ways for the youth to fall into a scam. The hackers just publish a forged message from the name of the company showcasing some fake news that they are providing some giveaway gifts. And along with that there would be a link attached, the people will click on the given link, and provide their login details to claim the gift.

• Beware of dusting attacks

In this situation, the attacker just transfers a tiny amount of funds to your Coinbase Wallet Extension account via the Airdrop facility. And after that whenever the user would initiate some kind of transfer the attacker would get all the details of the user’s account. So, if you receive any kind of these unexpected funds then you should always report them to the Coinbase. And do not use those funds so that the attacker would not be able to complete his analysis.

Summing it up

Through this blog, we have tried to explain all the types of scams that you might face while using Coinbase Wallet Extension. So, you should pay more attention to the pages you visit, links you open, etc. Do not give your login credentials to just any website. You first have to make sure that you are using the correct Coinbase website. And report the scam to the Coinbase support team if you have incurred any.