Finding The NEXT 100x On Coinbase BASE: Complete Guide!!

[Music] Finding 100x altcoins is difficult but Doable it all depends on whether there Are new ecosystems with promising up and Coming crypto projects As it so happens coinbase recently Launched its own layer 2. now this is Analogous to when binance launched the BNB chain and those of you who are Around back then will know that there Was no shortage of 100x altcoins but Also no shortage of scams and rug pulls That's why today we're going to tell you Everything you need to know about Coinbase's new layer 2 including how it Works how to use it and how to avoid Getting wrecked when hunting for the Next 100x This one's mine Let's start with a bit of background as Almost all of you will know coinbase is One of the largest cryptocurrency Exchanges in the world second only to Binance and coinbase has been working on Its own layer 2 for ethereum called base Which launched just recently Bass is uh based on another ethereum Layer 2 called optimism both layer twos Use optimistic roll-up technology to Increase ethereum's scalability AKA Speed Optimistic Roll-Ups do this by bundling Multiple ethereum transactions together And submitting them to the blockchain as

A single transaction this allows base And optimism to process around 2 000 Transactions per second though I should Note that bass hasn't officially Confirmed its transaction speeds in its Documentation Given that bass is based on optimism It's safe to assume that it can process A similar number of transactions per Second What basis documentation does confirm is That the layer 2 is powered by a single Sequencer node operated by coinbase this Is consistent with the information on Its block Explorer which suggests that Every blog on base is being produced by A single node the same is apparently True for optimism Now this begs the question of what makes Base and optimism different and the Short answer is accessibility as you'll See bases Integrations with coinbase and The coinbase wallet make it a much more Accessible layer 2 for the average Ethereum user Bass likely has more access to funding As well Another difference is that optimism has Its own token while bass does not Although base has stated that it has Quote no plans to issue a token this Doesn't mean it's off the table if other Layer twos are ending to go by early Base users could someday be rewarded

With an airdrop of a base token This is where the potential comes in According to l2beat optimism is the Second largest ethereum layer 2 by total Value locked or tvl to put things into Perspective optimism is 10 times larger Than base in terms of tvl at least at The time of shooting this video However bass is quickly gaining ground Base also recently surpassed optimism by Daily active users this is likely a Consequence of the fact that bass's Ecosystem is brand new and there are Dozens of new crypto projects popping up Left right and Center It could also be a consequence of all The crazy stuff that happened shortly Before its official launch Some of you may have heard about all the Meme coins that were mooning on base Late last month you may have also heard That most of them turned out to be rug Pulls especially the infamous bald token This led to speculation that coinbase Would introduce kyc to bridge crypto out Of Base when it launched for context it Was only possible to bridge crypto Interbase fortunately or unfortunately This kyc requirement was never Introduced but it could be introduced in The future more on that later Now the fact that bass continues to be a Wild west of crypto whales and meme Coins inspired us to create this

Step-by-step tutorial on how to navigate This new ecosystem note that some info Could be out of date by the time you see This video also note that nothing in This video is financial advice it is Purely educational content meant to Assist you on your crypto Quest Now the first step to using bass is to Set up a crypto wallet that's compatible With the layer 2. the two best options Are the coinbase wallet extension and The metamask extension It's important to note that each of These wallets comes with its own Benefits and drawbacks when it comes to Exploring alts The benefit of the coinbase wallet is That support for base is built in so You're ready to go the moment you set it Up the drawback of the coinbase wallet Is that it's not as widely supported as Metamask meaning it might be harder to Go down certain altcoin rabbit holes Namely new daps and protocols Now of course the benefit of metamask is That it's widely supported meaning it's Perfect for going down altcoin rabbit Holes the drawback of metamask is that You have to manually set it up to be Compatible with bass and also you have To be much more careful when interacting With new dapps and protocols So for your convenience we'll show you How to use both starting with the

Coinbase wallet to download the coinbase Wallet go to the coinbase wallet website And click download coinbase wallet note That we will leave links to all of these Resources in the description On the next page click download for Chrome this will open a page to the Chrome web store on the Chrome web store Click add to Chrome and then add Extension on the pop-up that appears After a few seconds you should get a Notification in the top right that tells You the coinbase wallet extension has Been downloaded once downloaded click on The little puzzle piece icon in the top Right of your browser and click on the Coinbase wallet When you do this you'll get a neat Animation and see a button that says Create new wallet go ahead and click it Now this part folks is extremely Important so pay close attention in The Next Step you have to save your private Seed these words will let you recover Your coinbase wallet if anything happens To your browser or computer so please Make sure you write them down put them In a safe place and don't show them to Anyone Better yet get yourself a metal seed Phrase card to make sure those words Withstand fires and floods you can check Out the coin Bureau merch store if You're interested in one of those

So once you've written down your wallet Seed check the box that says I Understand that if I lose my recovery Phrase then I'll lose all the crypto in My wallet and click continue Now the coinbase wallet will then check That you wrote down your wallet seed Correctly by asking you to identify two Of the words once you've done that click Submit and finally you'll be asked to Create a secure password for your Coinbase wallet so come up with Something secure preferably a new Password that you haven't used before Fun fact people reusing passwords is the Number one way that hackers get your Info so don't be that person So once that's done click submit and Voila you've created your coinbase Wallet feel free to claim a free Username or just click I'll do it later Like we did If you click the receive button you'll Notice that the base chain is included Among the ethereum chains supported by The coinbase wallet as for metamask Meanwhile you'll recall that I mentioned You'll need to add the base chain Manually if you don't already have Metamask we'll leave a link to our Detailed tutorial in the description for Your convenience If you do already have metamask then go To the chain list website and search for

Base note that the link to the chain List website is in the description as Well Once you've found it click connect Wallet this will cause metamask to pop Up select the accounts you want to Connect and click next and then connect Metamask should automatically switch to Base you'll be able to tell if there's a Letter B on the top left of your Metamask extension now the second step To using bass is to add eth to your base Based wallet it's a bit punny I know As with setting up the base wallet there Are two ways you can add eth to your Base based wallet the slightly safer Slower and simpler way or the slightly Riskier faster and more complex way so The slightly safer slower and simpler Way is to either buy your ethon coinbase Or to bridge any eth you already have on Ethereum to base using coinbase's base Bridge For reference it can take up to seven Days to move your eth on and off base Using coinbase or the base Bridge per The disclaimers provided by both in our Experience depositing to base with Coinbase and the base Bridge was fast For small amounts the same is true for Base withdrawals done via coinbase However withdrawing base from base using The base Bridge took a long time Our eth still hadn't been withdrawn by

The time we finished this tutorial now Obviously this isn't convenient for Everyone which is why some of you might Be better off using the slightly riskier Faster and more complex way this Involves buying eth on your favorite Crypto exchange sending it to your Ethereum wallet and then bridging to and From base using a third-party Bridge Now the reason why this is slightly Riskier is because not all Cryptocurrency exchanges are as safe as Coinbase and third-party Bridges have a History of experiencing exploits the Trade-off is that you can Bridge your East to and from base within minutes Instead of days and sometimes for much Cheaper too again for your convenience We will show you how to do both starting With the safe slow and easy way For the sake of time we won't go through Setting up a coinbase account you'll Have to do that on your own time For what it's worth it doesn't take long And there are plenty of tutorials out There once you've bought some eth on Coinbase click the send and receive Button on the top right next select the Amount you want to send enter your base Wallet address triple check that it's Correct and click continue On the next slide click on where it says Network to open up all the different Network options find base and click on

It note that you'll get a bunch of Warnings and disclaimers when clicking Around these options it's annoying but Better safe than sorry before you click Send now double check that the base Chain has been selected in the network Section and be sure to take note of the Estimated arrival time for smaller Transfers your eth should arrive in your Base wallet within minutes click Send Now our eth arrived in our wallet within Five minutes Now assuming you already have eth on Ethereum then you can head directly to Coinbase's base Bridge Note that you can use the base Bridge With any of the most popular crypto Wallet extensions to start the bridging Process click connect wallet select your Preferred wallet extension and connect The relevant accounts once you've Connected to the bridge select the Amount of eth you want to bridge to base Before you do though note that you're Going to need some eth in your ethereum Wallet to pay for the gas fees to bridge To base and also to bridge back when you Decide to withdraw so don't send over Everything once you've selected the Amount you want to send click deposit Eth and confirm the transaction in your Wallet extension take note of the gas Fee for bridging over you can expect to Pay a similar amount of gas fee for

Bridging back After a few minutes your eth should Arrive in your base based wallet Remember that bridging your eth back From base to ethereum using the base Bridge can take a very long time If you want to speed things up while Keeping things simpler and safer you can Send your eth to coinbase on the base Chain alternatively you can go the Faster riskier and more complex route So as for this alternative route start By buying eth on your favorite crypto Exchange our preferred crypto exchange Is currently by bit and we'll leave a Link to our tutorial in the description Note that there are over forty thousand Dollars in bonus airdrops available if You sign up there Now once you've got your eth send it to The extension wallet of your choice and Head on over to the hop exchange Protocol now for those unfamiliar hop Exchange is a non-custodial cross-chain Bridge and decentralized exchange it Supports transfers between popular Ethereum layer twos now to be clear we Are not affiliated with hop nor have we Verified the crypto projects code While our research suggests that it's Safe EG is being audited we are not Qualified to speak to its security for What it's worth we could not find any Reports about any hacks exploits or

Other significant issues again this is The slightly riskier route The trade-off is that you can move your Eth between layer 2's much faster and Not just between ethereum and bass as You can see hop supports over half a Dozen layer twos in fact this is one of The few bridges that supports the layer 2 used by reddit's Moon tokens Nova Anyways to bridge to base using hop Start by connecting your wallet Extension to the bridge using the button In the top right once you've selected And connected your wallet extension Select the blockchain that you want to Move your eth from again hop allows you To bridge from another layer 2. for the Destination chain select base and input The amount of eth you want to bridge Over as with coinbase's base Bridge it's Paramount that you keep some extra eth In your ethereum wallet to make sure you Can pay the gas fees required to bridge To and from base Once you're happy with your selection Click Send and be sure to take note of The gas fee again you can expect to pay A similar price to bridge back in this Case hop is much more expensive to use Than the base bridge but the bridging Process is faster in both directions If you can't Bridge back using hop or Another third-party Bridge either Because you don't want to pay the higher

Fee or don't have enough ethon ethereum To pay the higher fee you can simply Send your eth on base to your base Address on coinbase or Bridge it back to Ethereum using the base bridge now the Third step to using bass is to find all The different niches where you can Potentially find promising crypto Projects there are many ways you can do This The first way is to take a look at the List of Base ecosystem projects provided By crypto price tracking websites like Coin market cap This approach also allows you to see What other crypto projects are closely Connected to base in this case balancer Axillar and cyber connect all seem to be Key players in bases ecosystem at least According to coin market cap If you're wondering how well you'll need To do your own research Now the second way to identify promising Crypto projects on base is to look at Which dapps are seeing the most adoption This can be done by looking at dap Tracking websites like dap radar According to DAP radar base has over 30 Dabs some of which have thousands of Active daily users As I mentioned earlier though you need To be extremely careful about which Dapps you allow to interact with your Extension wallet it's absolutely

Critical that you do your own research Before using any of these On the flip side keep in mind that those Without tokens could airdrop tokens to Early users in the future Now the third way to identify promising Crypto projects on base is to look at Which D5 Protocols are receiving the Most in terms of total value locked as You can see the total value locked on Basis D5 protocols has been exponential Recently with most of this tvl going to Decentralized exchanges As with other emerging ecosystems base Seems to have its own in-house D5 Protocols such as base swap these Branded D5 Protocols are often just Carbon copies of popular D5 protocols on Ethereum in this case uni swap however Sometimes these D5 Protocols are new and Have serious potential again you'll have To do your own research to find out Feel free to use our uni swap versus Pancake swap video to give you a sense Of what to look for the link to that Will be down in the description Now the final way you can identify Promising crypto projects on base is to Sift through each token that's trading On it this can be done using Dex Analytics tools like deck screener these Let you see which base tokens have Pumped the most over a recent time Period and where you can find these

Tokens it goes without saying that this Approach is the riskiest of them all and Therefore requires the most research if You need a guide on how to research Cryptocurrencies we'll leave a link to Our tutorial for that in the description As well In terms of Milestones to look out for Most of the crypto projects on base will Probably pump because of Partnerships Investments or listings on exchanges so Far we haven't seen many Base projects Meet any of these criteria which is a Bit of a double-edged sword it's either Early or it's another scam or rug pull And this relates to the risks associated With using bass itself I'll start by Reminding you that bass currently runs On one sequencer node operated by Coinbase now in coinbase's defense they Plan on decentralizing base over time Hence our prediction that it will Eventually airdrop a governance token to Early adopters now logically this degree Of centralization can create risks the Fact that bass is basically brand new Also means that it hasn't been as battle Tested as other layer twos this means There could be a risk of a hack or Exploit of the base chain or even the Optimism code that base is based on this Ties into bases terms and conditions Which acknowledge these risks and note That the coinbase sequencer and the

Coinbase bridge are Services provided by Coinbase as such coinbase reserves the Right to restrict certain users from Accessing the sequencer or the bridge For any reason they see fit in their own Words quote we may suspend or terminate Your access to and you solve the Services at our sole discretion at any Time and without notice to you in other Words coinbase can ban anyone from using Bass so long as it's the only sequencer Node and can ban anyone from using the Base Bridge which isn't that big of a Deal since there are third-party Bridges Now this presumably means that coinbase Can require kyc to use these services or Worse the good news is that coinbase is Very unlikely to implement these kinds Of restrictions voluntarily the bad news Is that coinbase could be forced to Implement these kind restrictions by U.S Regulators this is much more than Speculation because it's already Happened to one of coinbase's existing Products If you watched our video about the sec's Lawsuit against coinbase you'll know That one of the reasons it sued coinbase Was because it allegedly offered Securities via the coinbase wallet from Our perspective there's nothing stopping The SEC from applying this reasoning to Base as it's currently operated it Appears that coinbase tried to protect

Against this possibility in basis terms And conditions by specifying that the Base and base Bridge smart contracts Themselves are not a part of coinbase's Services this protection could prove to Be insufficient but well perhaps we're Just being pessimistic In any case the key takeaway is that There are many layers of risk to any new Crypto ecosystem in this case there are Risks with the tokens there are risks With the dapps there are risks with the Smart contracts there are risks with the Layer 2 and there could even be risks With the base chain as the saying goes Though no risk no reward There's no question that some of the Crypto projects in bases ecosystem will Become multi-billion dollar behemoths That will offer massive returns to early Investors and users the only question is Which ones and it's ultimately up to you To find the answers And that's all for today's video folks So if you found it helpful help us out By Smashing that like button if you want To make sure you keep getting helpful Content subscribe to the channel and Ping that notification Bell if you think Others need help exploring bass share This video with them And if you're in crypto for the long Term make sure you're accumulating using An affordable exchange and storing your

Coins and tokens on a secure crypto Wallet the coin Bureau deals page has up To forty thousand dollars of discounts And incentives on the former and massive Discounts on the latter the link to that Will be down in the description so thank You all for watching and I'll see you Next time [Music]