A recovery phrase consists of a 12-word sequence of words that are associated with the private keys of your Coinbase Wallet. It is also called a seed. In case you forget or lose your password you should have your recovery phrase with you otherwise there is no way to access your account.
Transactions between Coinbase and Coinbase Wallet App definitely would not happen in no time and would take a certain period because network confirmation and on-chain completion are also done before the transaction is executed and the availability of Coinbase exchange is also a mandatory requirement for the doing the same.
As soon as you sign in with the correct Coinbase Login credentials, the first thing that you are supposed to do is enable two-factor authentication over it. This shall help you enhance the security of your account so that you can trade crypto assets with complete peace of mind.
The biggest flex of Coinbase Wallet is that it does proper management of security keys and operates storage of the assets of the users in their own devices. It should not be considered to be a centralized exchange but the point to be noted is that it does operate the transactions of such exchanges.
The categories of Cryptocurrencies that are currently supported by Coinbase Wallet App are Bitcoin, Ethereum, Binance smart chain, Dogecoin, Litecoin, Polygon, Stellar, Ripple networks, and Ethereum layer 2 solutions. Swapping between Ethereum and Polygon-based can be done directly from the decentralized exchange feature of the Coinbase wallet App in a very easy way.
Using your Coinbase Login account, you can easily use the wide range of trading services that are included in it. Once your profile is created, you can use its other services such as Coinbase Pro and Coinbase wallet, although they are not interlinked. Additionally, you can access your profile both on the web and the mobile app.