Wallet

A coin balance, not a chain account.

Readers buy CoinBased coins. Merchants debit them. The number on the user row is a cache; the transactions table is the truth.

Identity

Email + scrypt password. Session cookie on coinbased.net. Merchants never store it.

Mint

FIAT_PURCHASE rows from sandbox (and later a real processor). Positive amount, no app_id.

Spend

MERCHANT_SPEND rows, negative amount, app_id set. Idempotent if the merchant sends reference_id.

What you will not find

  • No seed phrase
  • No on-chain withdraw of these coins
  • No card vault on the merchant