Aaryamann Shrivastava
·2 min read
Coinbase has been one of the leading crypto organizations. Their extension towards one of the biggest hardware wallets will enable almost 4 million more investors to be a part of the cryptocurrency exchange.
Coinbase X Ledger
In an announcement today, Coinbase wallet extended its support for the Ledger hardware wallet. With this added support, the crypto exchange will be providing an added layer of security for the users who opt for it.
Ledger is one of the leading hardware wallets which creates physical devices that store the user’s crypto wallet’s private keys offline.
This allows a user to be in complete control of their transaction as, without the private key, funds cannot be moved in or out of the account.
Explaining the same, Coinbase stated,
“We want to empower everyone to use dapps and access web3, and that requires building the easiest-to-use and most accessible self-custody wallet in the ecosystem. Today’s release solves another set of important user needs, including the ability to use a hardware wallet for enhanced security.”
Similarly, now even Coinbase users can store their private keys on a hardware wallet. A Coinbase X Ledger limited edition hardware wallet was launched to commemorate the same.
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Coinbase added that this support opens the door for the exchange to further its efforts towards user’s satisfaction.
Beyond Ledger, Coinbase will be bringing support for more hardware wallets which would be integrated into their mobile application as well.
Coinbase’s Senior Product Manager, Adam Zadikoff, stated in the launch,
“We want to empower everyone to use dapps and access web3, and that requires building the easiest-to-use and most accessible self-custody wallet in the ecosystem. Today’s release solves another set of important user needs, including the ability to use a hardware wallet for enhanced security.”
The cryptocurrency exchange has been keeping up with the ever-expanding demands and possibilities of the crypto space.
As reported by FXEmpire, Coinbase’s investment arm Coinbase Ventures was a part of Amber Group’s $200 million Series B+ funding round. The invested money raised the company’s valuation to $3 billion.
Extending support to Ledger is a similar move.
This article was originally posted on FX Empire
