how does the coinbase vault work

Coinbase Vault is a new digital wallet service developed by Coinbase, a cryptocurrency exchange. It allows users to store their cryptocurrency safely and securely, while also offering various features such as transparent account balances and transactions. The Vault is based on blockchain technology, which allows it to be transparent, secure, and easy to use. It works by creating a new, unique address for each cryptocurrency account that is used to store the user's money. This address is protected by a key pair that is generated and shared between the user and Coinbase. When the user withdraws their money, it is sent to the corresponding address. This process is completely transparent and secure, as the data is encrypted and stored on the blockchain. This allows users to store their cryptocurrency safely and securely, without the need for any third-party service or service provider.