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Coinbase Adds Bitcoin Support to its Wallet App

siliconreview Coinbase Adds Bitcoin Support to its Wallet App

Coinbase, the San-Francisco based digital currency exchange has added Bitcoin support to its wallet app. The development came to the fore on Tuesday.

Last year, the company announced that its open source decentralised app browser and wallet, Toshi will be rebranded to become Coinbase Wallet.

The company’s wallet app is little different than its website page. The older version allowed Coinbase to store the private keys and the customer purchases but the new wallet enable users to safeguard their crypto by their unique private keys.

Coinbase will release the new update for its wallet next week. It will be available for both Android and iOS USERS. The company’s support will get installed by default, whenever users wish to receive the coin to their wallet. The private keys of the users will be fully encrypted through Secure enclave Technology.

The following cryptocurrencies are being considered by the company for the app: Litecoin (LTC), Bitcoins Cash (BCH) and few others on the list.

Earlier, Coinbase has rolled support for the European Union residents to make fiat currency withdraws to PayPal. Apart from that, the company has chipped in resources for customers inside America to claim crypto trades on their taxes and setup TurboTax, tax software in its systems.

As per reports by Cointelegraph, Ledger, a cryptocurrency hardware wallet firm has announced its Bluetooth-based wallet Ledger Nano X. The new wallet allows customers to store their crypto assets.

The move by Coinbase will help them to expand their database.