Onboard to crypto in seconds with the new Coinbase Smart Wallet. Create a new wallet directly on Matcha secured by passkeys stored on your device or cloud accounts.
Ready to start in crypto but don't have a wallet? We've integrated Coinbase smart wallet support so you can create a wallet directly on Matcha and dive straight into Web3 today!
Coinbase Smart Wallet is simple and safe self-custody solution you can set up in seconds from your browser or phone, without needing to worry about recovery seeds or physical backups.
Create a smart wallet now!
What is a smart wallet?
Crypto wallets come in many forms: apps, extensions, hardware, software, and even paper. And now, smart wallets too! Smart wallet solutions use smart contracts instead of EOAs (externally owned accounts) to manage funds, allowing rules to be set for what your wallet can be used for according to the EIP-4337 standard.
Smart wallets use device passkeys to generate and secure the private and public key pair that grants access to your funds - and you can set one up in seconds.
Unlike most other crypto wallets, smart wallets let you use biometrics like Face ID or fingerprints to access your funds and authorize transactions, while enabling new experiences through account abstraction.
How to create a smart wallet on Matcha
You can set up a smart wallet now using the same on-device security you use for everything else, such as an iCloud keychain, mobile phone, password manager extension, or many other solutions. You can also store passkeys on a supported hardware device such as a YubiKey!
Passkeys are generated securely on your device, while keeping your data isolated securely locally or in cloud storage where they are stored under end-to-end encryption, so no-one but you can access your funds!
To set up a new wallet on Matcha:
- Click on the new Create wallet button to open the Smart Wallet onboarding in a pop-up window.
- Select Create a smart wallet.
- You will be asked to Create a passkey. Choose from the list of available options.
- Confirm by clicking Continue.
- Your smart wallet is now ready to use and you can close the window. Alternatively, click Fund wallet to log in to your Coinbase account, or click Explore wallet to open your wallet profile.
You can also view your smart wallet profile to see your balances, transactions and more by clicking on your connected wallet in the top-right corner of Matcha and selecting Wallet Profile from the dropdown menu.
What you can do with Coinbase smart wallet
For now, you can use your Coinbase Smart Wallet on Matcha to swap tokens and make cross-chain trades. Matcha Auto, which enables MEV protection and swaps without gas, and Limit orders are not yet available using the Smart Wallet. To access these features you will need to use a standard crypto wallet, such as a browser extension, hardware device or mobile wallet.
When using a Coinbase Smart Wallet, you can manage your crypto portfolio on your wallet profile, and you can even connect your Coinbase account to easily buy crypto to top up your wallet, see all your assets in one place, and stay in sync across devices.
If you already use Coinbase Wallet, you can connect both your Smart Wallet and Coinbase Wallet in the same app, so you don’t need to worry about managing funds in multiple places.
How to access your smart wallet from another device
If you want to use the same smart wallet on different devices, they must have shared access to the passkey. That means you will need to have access to the same service you used to create the wallet, such as iCloud or your smartphone, on any other device you want to use the wallet from.
What happens if your wallet device is lost or stolen?
If you lose a device containing your smart wallet, you should still be able to access it using the passkey from another device. It is however advisable to move your funds from the wallet as soon as possible once you regain access, and send your funds to a new wallet that is not accessible from the lost device.
The reason to move your funds is that although the wallet itself is secure from remote access, if your device is not properly secured with a strong password, biometrics, or two-factor authentication, a skilled attacker with physical access to it could use your wallet. This also applies to regular crypto wallet apps and browser extensions.
Hardware wallets offer extra protections against physical access, but are not impervious and a similar approach of moving funds to a newly generated wallet is generally recommended in case of loss or theft.
It’s never been easier to get onchain
The Coinbase Smart Wallet integration makes it easier than ever to set up a wallet and start trading within seconds. Even if you already have a wallet, the new Create wallet feature on Matcha is the perfect way to onboard friends and family to Web3. Give it a test run now and see for yourself how quick and easy it is to set up!
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