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Add to SafariWhen comparing Coinbase Bitcoin Wallet vs Freewallet, the Slant community recommends Coinbase Bitcoin Wallet for most people. In the question“What are the best multi-currency software crypto wallets?” Coinbase Bitcoin Wallet is ranked 3rd while Freewallet is ranked 8th. The most important reason people chose Coinbase Bitcoin Wallet is:
If security is one of your top priorities, Coinbase takes a unique approach at protecting users by storing most information offline.
Question Ranking
Pros
Pro Stores 85% of users' funds offline
If security is one of your top priorities, Coinbase takes a unique approach at protecting users by storing most information offline.
Pro Converts Bitcoin to USD
By integrating a US bank account, Bitcoin can be converted to USD using ACH.
Pro Web and mobile
You can open your bitcoin wallet and fully manage it on both web and mobile, and access your bitcoin any time.
Pro Bitcoin can be transfered through email
Allows avoiding using Bitcoin addresses by transferring funds through email instead.
Pro Credit cards accepted
Option to buy BTC, ETH and LTC with a credit card.
Pro Available on different devices
Applications are available for iOS, Android and Web
Pro High level of security
2FA available and coins held in a cold storage
Cons
Con You don't own your Bitcoins
If they don't like you (KYC/AML) they can lock you out. This is the antithesis of what Bitcoin is able to provide. If you own the private keys, you own the Bitcoins, on Coinbase you don't.
Con Bank account integration is limited
It's only available in US and has a limit for spending and receiving.
Con Tracking you
Bitcoin is anonymous by design but Coinbase is tracking and reporting all transactions.
Con Questionable politics
Con High fees
Some fees are higher than the average
