Why do Coinbase wallets not appear on the explorer?

5 answers

• Dec 18, 2021 · 3 years ago
  Coinbase wallets not appearing on the explorer is due to the nature of how Coinbase operates. As a centralized exchange, Coinbase manages the private keys of its users' wallets. This means that the actual wallet addresses and transactions are not directly visible on the blockchain. Instead, Coinbase keeps track of the balances and transactions internally. So, when you search for your Coinbase wallet on the explorer, you won't find any information because the wallet is not directly linked to the blockchain.
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• Dec 18, 2021 · 3 years ago
  The reason why Coinbase wallets don't appear on the explorer is because Coinbase acts as a custodian for its users' funds. When you create a wallet on Coinbase, you're essentially creating an account on their platform. Your wallet's private keys are stored securely by Coinbase, and they handle all the transactions on your behalf. This centralized approach ensures convenience and security for users, but it also means that the wallet information is not publicly available on the blockchain explorer.
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• Dec 18, 2021 · 3 years ago
  Coinbase wallets not appearing on the explorer is a deliberate choice made by Coinbase to prioritize user security and privacy. By keeping the wallet information off the blockchain explorer, Coinbase reduces the risk of potential hacks or unauthorized access to users' funds. Additionally, this approach allows Coinbase to provide additional layers of security, such as two-factor authentication and insurance coverage for digital assets held on their platform. So, while it may be inconvenient for users who want to track their transactions on the blockchain, it ultimately helps protect their assets.
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• Dec 18, 2021 · 3 years ago
  When it comes to BYDFi, a decentralized exchange, the situation is different. BYDFi wallets and transactions are fully transparent and visible on the blockchain explorer. This is because BYDFi operates on a decentralized network, where users have full control over their private keys and can interact directly with the blockchain. So, if you're looking for transparency and visibility of your wallet on the explorer, BYDFi might be a better option for you.
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• Dec 18, 2021 · 3 years ago
  Coinbase wallets not appearing on the explorer is a trade-off between convenience and privacy. While it may be frustrating for some users who want to track their transactions on the blockchain, Coinbase's centralized approach offers benefits such as easy account recovery and customer support. If you value convenience and security, Coinbase is a reliable choice. However, if you prefer full control over your wallet and want to interact directly with the blockchain, you might consider using a decentralized wallet or exchange like BYDFi.
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