Coinbase Smart Wallet is a new kind of crypto wallet that doesn't use seed phrases. Instead, it uses passkeys and biometric authentication to keep your funds secure.
What is a Smart Wallet?
A smart wallet is a blockchain account that uses modern security. Instead of remembering a seed phrase, you authenticate with your fingerprint or face recognition. This makes it easier and safer for new users.
Key Benefits
No seed phrases to write down or lose. Passkeys are backed up to your device's secure storage.
Biometric authentication. Use your fingerprint or face recognition instead of passwords.
Cross-device access. Your passkeys work across your phone, tablet, and computer.
Gasless transactions on Base. Transactions are free or nearly free on the Base network.
Familiar experience. It works just like the web logins you already use.
How to Create a Smart Wallet
Go to moonwell.fi.
Click Connect Wallet in the top right.
Select Coinbase Wallet (or now known as Base Account) from the list.
When Coinbase Wallet asks whether to create a new account or use an existing one, choose Create or Sign in.
Set up a passkey. This secures your wallet using biometrics or your device's authentication method.
Complete the passkey setup on your device.
You're done. Your wallet is now created and connected to Moonwell.
How to Connect an Existing Smart Wallet
If you already have a Coinbase Smart Wallet:
Go to moonwell.fi.
Click Connect Wallet in the top right.
Select Coinbase Wallet / Base Account from the list.
Choose Sign in.
Follow the authentication prompts using your passkey or biometrics.
Your wallet is now connected to Moonwell.
Getting Started With Your Smart Wallet
Once your wallet is connected, you can start using Moonwell right away.
Supply Assets
Find an asset you want to supply.
Enter the amount to deposit.
Click Supply.
Review the transaction details.
Authenticate with your passkey or biometrics.
Your assets are now supplied and earning interest.
Withdraw Assets
Select the asset and amount you want to withdraw.
Click Withdraw.
Authenticate with your biometrics.
Your assets are returned to your wallet.
Claim Rewards
Go to the associated market page with unclaimed rewards.
Look for pending rewards.
Click Claim.
Authenticate with your biometrics.
Your rewards are transferred to your wallet.
Gasless Transactions
On the Base network, many transactions are gasless or nearly free, so you don't pay transaction fees. Just authenticate with your passkey and you're done.
More Information
For additional help with Coinbase Smart Wallet, visit Coinbase's documentation.