New Coinbase NFT marketplace bullish for crypto

Coinbase NFT

Crypto is an exciting new digital asset class that has been growing exponentially over the past few years. One of the most popular crypto exchanges, Coinbase, just announced a new feature on their platform: a NFT Marketplace! The blog post below will explain the Coinbase NFT announcement, and why NFT digital assets might soon become a standard in many crypto portfolios

What are NFTs?

Non-fungible tokens, or NFTs, are cryptocurrencies that represent tangible things like art, music, video games, and more. You may buy and sell them on the internet. They use the same code as many other cryptos. There are some distinctions between them.

NFTs are considered digital assets or digital store of value. They are created using blockchain technology and cryptography. Just like crypto, they are secured and ownership is authenticated with a private key. They can also be transferred from one person to another without any central authority controlling them.

Because NFT’s are one-of-a-kind digital assets they are ‘non fungible’. This means you can’t exchange one NFT for another of the same NFT (like for like) because each is unique. Like you can’t swap a Monet for a Jackson Pollock for example.

NFTs have value both as cryptocurrencies and also as a digital form of expression and culture. Because of this cross over between value and culture, NFT with culture and community attached have become incredibly popular and valuable. The number of unique wallets that has either bought or sold an NFT since 2019 continues to climb as more people get excited about and involved in this new asset class.

Some famous examples include CryptoKitties, CryptoPunks and Bored Ape Yacht Club.

And it’s not just art.

Industries like fashion, gaming, and music are beginning to recognize the potential of NFTs for new kinds of creativity and ownership.

What is the Coinbase NFT announcement?

Coinbase is the biggest centralised crypto exchange in the US. On October 13, 2021 Coinbase announced that they are adding an NFT marketplace to their platform.

The marketplace will enable users to make, buy, showcase and explore NFTs.

Coinbase claim that their NFT market place will be easier to use than other NFT platforms such as Opensea. It will also have a social element enabling creators to engage directly with communities.

Undoubtedly, Coinbase sees an expontentially growing market and an opportunity to make revenue through fees. They’re yet to divulge what fees will be charged to transact in the marketplace…

Coinbase NFT market waitlist

Coinbase has created an ‘early access’ waitlist. Since the Cointbase NFT announcement, we have heard that more than 1.5 million people have signed up to the Coinbase NFT waitlist. If you’re keen it get in early here is the link.

You don’t have to wait until the Coinbase NFT marketplace is live. If you’re thinking about diving on in now you can use other popular marketplaces like OpenSea, Rarible, Exclusible.

What can you do with NFTs?

Trade them.

NFTs are a digital store of value and there is a market around them. An entire marketplace of trading NFTs has emerged since 2020. There is an initial market where you can ‘mint’ NFTs. This just means you’re creating the NFT record on the blockchain, and authorising your ownership of it. There is also a secondary market where NFTs are on-sold.

Showcase them.

Art and gaming NFTs are about community belong and social status. So people like to showcase the NFTs they buy. Twitter is the most popular place to do this. Twitter lets you showcase NFT art as your profile picture, after you have been through a process of validating that you are the owner of the NFT art-piece.

Hodl them.

NFTs are assets and act as a store of value over space and time. A lot of people try to buy early and Hodl (hold) their NFTs just like any asset, hoping the value will go up over time.

You hodl NFTs buy storing them in your crypto wallet.

Coinbase NFT

Where to start with buying NFTs?

If you’re looking to get into the NFT marketplace you’re going to need these things:

The coin or token for the blockchain that the NFT is built on

Most NFTs are built on the Ethereum network, but blockchain networks like Solana and Avax also have popular NFT platforms built on top of them. You need the token or coin for that blockchain to buy the NFT and to pay the network fees for using the blockchain when you buy it. For example, if you’re buying an NFT on the Ethereum blockchain, you’ll need ETH to buy it!

A crypto wallet

You need a hot wallet or online wallet to receive your NFT when you do buy it. You use your crypto hot wallet to create an account on the NFT marketplace of your choice. Once you have purchased an NFT, it’s stored in your hot wallet. Most people use Metamask wallet to buy NFTs.

A platform to buy them from

You can either Mint and NFT or buy one on the secondary market. Minting is where the NFT is first recorded on the blockchain and authorised as belonging to you. To mint, you need early knowledge of NFT project collections and a bit of luck. You mint NFTs directly from a project website. If the NFT is already minted, you can buy it from the secondary market like Opensea or the coming Coinbase NFT marketplace.

Keeping your NFTs secure

The first thing to know is, don’t leave your NFT in your hot wallet!

Like any crypto, NFTs are susceptible to hacking and theft. Especially if they’re seen as a valuable asset!

The only way to keep your NFT safe from cyber criminals is store the private keys to it in a hardware wallet.The best and most convenient wallet to use for this is the Ledger Nano.

The safest way to buy NFTs – Ledger nano + Metamask

The Ledger Nano Hardware Wallet allows you to access trusted third-party hot wallets like MetaMask via its hardware wallet software.

If you link Ledger Nano with Metamask, the private key to your NFTs is kept in the secure element chip of your Ledger Nano while it’s linked to MetaMask.

As a result, you can buy NFTs from your smartphone or computer with any NFT marketplace, such as Rarible or Open Sea, and do it securely. The MetaMask wallet will send a request to the Ledger hardware whenever you perform an activity.

Only once you physically sign/approve the request using your hardware wallet’s private key will the transaction complete.

It works like your bank texting you a one-time password to approve transactions. And no one else can steal your NFTs as long as you keep your Ledger device and protect your recovery phrase.

Here are some instructions to link your Ledger to Metamask hot wallet, so you can safely buy and sell NFTs. Have fun!

How to make money with Coin98 mobile wallet

make money with coin 98 mobile wallet

In this post we’re going to answer the critical questions you need to know about how to make money with the new and much lauded Coin98 Mobile Wallet.

Coin98 is a new crypto project from South East Asia building up a suite of DeFi products many of which you can access on the Coin 98 mobile wallet app.

Coin 98 mobile wallet – the ultimate DeFI gateway

The wallet is unique for its multi-chain capabilities as we explain below. These capabilities are designed to make it easier, faster and more simple than ever to transact crypto and interact with DeFi protocols. You can earn crypto from the one wallet regardless of what chain the DeFi protocol is built on. For this reason, its a great starter crypto wallet for anyone new to crypto because the in wallet capabilities save you from making mistakes that might otherwise mean your crypto is lost for good.

Like most crypto projects, Coin98 has its own token C98. You can buy C98 directly on Binance, which is the highest volume crypto exchange and the one we recommend. To get 5% off all spot trading fees on Binance in perpetuity (and this can add up!), set up an account using our link.

C98 token is transacted on three blockchains – Ethereum, Binance Smart Chain and Solana. C98 is a governance token and you can also stake C98 and earn rewards and Airdrops by holding the token. C98 token took off when recently listed on Binance but unlike other new tokens has held its value well, which is a promising sign for the project.

How to download Coin98 mobile wallet

The mobile wallet app is available for iOS and Android phones. Here is a link to the project page and from here you can link to the App. We do this because there are so many fake mobile wallet apps out there trying to part you from your money. We link to the source developer so you have the legitimate developer link to the App.

The first thing to know is that when you go into Google Play or Apple’s App store you’ll see two Apps from the same developer – Coin98 Finance. You need to download the Coin98 Wallet. The other App – Coin 98 insights – is an information and research hub only.

Once you’ve downloaded the Wallet you’ll be prompted to set a pin code to get access. You have the option of enabling face ID after your Pin is set.

Coin98 mobile wallet features we love

When you open the wallet you will be taken to the default landing page. From here, you can open the four menu items – Markets, Swap, Browser and Settings. You can also swipe left or right to access some of the other great features we list out below and that we really like about Coin98 mobile wallet:

  • User interface – the best User Interface we’ve experienced in any crypto mobile wallet app.
  • Set up – you can chose the currency you want to operate in and from 12 languages
  • Exchange connect – You can connect to 9 different cryptocurrency exchanges directly from the wallet, including many of the popular ones such as Binance, Kucoin, and FTX.
  • Native dApps – there is an inbuilt dApp browser in the App which is where you’ll make money with Coin98 wallet. We go into some of the best offers we’ve found using the Native dApps below.
  • Cross Chain bridge – you can convert tokens between 4 blockchains – Ethereum, BSC, Tron, Solana – directly in the wallet. Anyone that uses DeFi knows how valuable this is.
  • Cross chain staking, swaps, earning and yield farming – this is the biggest and best feature of Coin98 and what sets it apart from other fully featured mobile wallet apps. We’ll go into this in more detail below to explain what you get when you download and set up the Coin98 mobile wallet.
Connect directly to some of the biggest exchanges in crypto

The cross chain features that set Coin98 wallet apart

22 Blockchains supported

Coin 98 wallet supports 22 Blockchains as we write this post. That’s more than any other mobile wallet app we’ve come across. Here are the long list of Chains supported within the one wallet:

  1. Supported chains
  2. Bitcoin
  3. Ethereum
  4. Binance Smart Chain
  5. Solana
  6. HECO chain
  7. Near
  8. Avalanche C Chain & Avalanche X Chain
  9. Tron
  10. Polygon
  11. Fantom
  12. Polkadot
  13. Kusama
  14. Cosmos
  15. THORChain
  16. Terra
  17. BandChain
  18. Kava
  19. Persistance
  20. Binance Chain
  21. TomoChain
  22. Celo

This is such a great feature when it comes to trying to get the best returns from your crypto assets. You can easily switch between DeFi protocols with the best APY and APR rates. The wallet makes it easy to be an active crypto investor with very little experience.

Tips on using the cross chain functions

Before you start accessing DeFi protocols and transacting your coins you will need to activate your wallet/s. This is where the real convenience and simplicity of Coin98 mobile wallet app shines. You can create a single multi-chain wallet to store assets for all supported blockchains. The great thing is the wallet and all its assets can be accessed with a single passphrase. This saves you tonnes of time each time you want to transaction on different Chains, but it also means you have to keep the multi chain wallet password extremely secure.

The benefits of Coin 98’s multi-chain wallet features compared to Single chain wallets

If you don’t want to use the multichain wallet convenience, you can set up a wallet for each chain you want to use, for example – an Ethereum wallet, a Binance Smart Chain wallet etc. This means taking a note of your passphrase and private key for each wallet. Once you have set up a wallet for each Chain you want to transact on, you can skip seamlessly between Defi Protocols and the wallet will automatically swap to the right Chain for that Protocol.

This may seem like a small thing, but to new DeFi users, it takes away the fear of losing your coins because you’ve selected the wrong Blockchain Network for your transaction. This is priceless.

We love this feature because it helps to bring non tech savvy users to crypto.

How to make money with Coin98 mobile wallet

The best thing about the Coin98 mobile wallet is that it has an inbuilt dApp browser. Now this is an inbuilt browser the likes of which we haven’t seen in other mobile wallets because of its cross chain functionality. You can choose to view and use dApps on different networks with the click of a button, making it super easy to transact in the DeFi world

The dApp Browser is also how you make money staking and farming with with Coin98 wallet all from the one place.

Native dApps across multiple chains is why you want to download and start using Coin 98 mobile wallet

dAPP coverage

Coin 98 wallet has native integrations with many of the larger DeFi protocols – SushiSwap, UniSwap, PancakeSwap, Aave, Compound, Yearn Finance. This means you can stake, farm, lend, borrow, earn – all from the one wallet. There are also native Gaming dApps like CyrptoKitties and GodsUnchained.

We did notice that of the dApps supported by Coin 98 wallet most built on Ethereum and Binance Smart Chain. There’s very few yet that are built on Polygon. We think this is one area that the Coin98 team could expand. Polygon is a popular network because of the low fees and bridging capabilities with Ethereum. It would be great to see integration with some Polygon dApps. If you’re a Polygon user, then at present we’d recommend sticking to your current wallet. we have heard that QuickSwap on Polygon and JulSwap on Tron will soon be integrated following the Coin98 Wallet version X. Good news.

Best money making opportunities with Coin98 wallet

Here are three of the best opportunities for high returns that we found at the time of writing, using the Coin98 mobile wallet dApp integrations:

  1. Staking – earn 77% APY by staking CAKE on PancakeSwap and get paid in C98
  2. Earning – up to 23% APY lending stablecoins like USDT, DAI and USDC on DeFi Yield Protocol.
  3. Lending – 15.15% APR lending USDC and Chainlink on SushSwap.

Another cool feature is the native dApp Zapper, which lets you see your entire net worth staked across multiple different Chain-native DeFi protocols, all in the one screen.

Will the dApp Browser last?

The dApp Browser looks a lot like the in built Browser from the Trust Wallet, which we have reviewed here. You’ll see in our Trust Wallet review there is a 9 June 2021 update reporting that the App Store had required the removal of the dApp Browser in Trust Wallet. Android users were unaffected by this. We covered the issue in detail in this article.

The question is, if the App Store required the removal of integrated dApp browser in Trust Wallet, how long will it be until Apple users face the same with Coin98 Wallet? It will be a real shame if this happens as the cross chain capability plus dApp browser integration make Coin98 mobile wallet stand out amongst it’s peers and we’ve loved what we have seen so far from the Coin98 Finance team.

The verdict

A great new mobile wallet with loads of in-built convenience. The wallet solves the problem of complexity for new crypto users by automatically and seamlessly switching between chains and by offering up the very convenient multi-chain wallet. It also provides new functionality for seasoned crypto investors through the in-wallet bridge. Provided the browser is here to stay we will write a full review of Coin98 mobile wallet app in coming months. We hope it sticks around and cements a place at the top of the crypto wallet field.