How does the Coinbase Wallet function?

The Coinbase Wallet functions as a self-custody cryptocurrency wallet, enabling users to take control of their own digital assets without relying on Coinbase to hold their funds. Users can store a wide range of cryptocurrencies, NFTs, and tokens securely within the wallet. The wallet generates a private key, which is encrypted and stored locally on the user's device, ensuring that only the user has access to their funds. Additionally, the wallet interacts with decentralized applications (DApps) through a user-friendly interface, allowing individuals to participate in the decentralized finance ecosystem, trade on decentralized exchanges, and engage with Ethereum-based smart contracts. As a non-custodial wallet, it provides users with full sovereignty over their crypto holdings, emphasizing security and privacy while still offering a seamless experience for managing and trading cryptocurrencies.