Coinbase Essentially Just Added Every Ethereum-based Asset

By launching the Coinbase Wallet app for IOS and Android, Coinbase just essentially added every Ethereum-based asset (all tokens and DApps). After-all, with Coinbase and Coinbase wallet you can shift between cash and all Ethereum-based tokens and access any DApp.

This is really big news, because now Coinbase customers are just a few clicks away from owning any Ethereum-based asset and accessing any Ethereum-based app!

Like MyEtherWallet Coinbase wallet is a place to store Ethereum tokens (for example both ERC-20 and ERC-721 tokens). Meanwhile, like a web browser and MetaMask, you can use it to access and interface with Ethereum-based applications AKA DApps (for example decentralized exchanges).

Meaning its like a web browser for DApps with a wallet attached to it that you can use for buying, storing, and sending coins.

So you can for example buy ETH on Coinbase, send that to Coinbase Wallet and store it on there, then use to buy some MRK, then store your MRK on Coinbase Wallet, then trade your MKR back to ETH, then send your ETH to Coinbase and sell it.

Thus, although there are a few steps involved, customers now have access to the entire Ethereum ecosystem through Coinbase.

Meaning, although Coinbase didn’t just add every ERC-20 and ERC-721… they kind of did via Coinbase Wallet… and that is big news for Ethereum.

Author: Thomas DeMichele

Thomas DeMichele has been working in the cryptocurrency information space since 2015 when was created. He has contributed to MakerDAO, Alpha Bot (the number one crypto bot on Discord),...

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