Coinbase Wallet supports Ledger hardware wallet

Coinbase Wallet is a popular crypto exchange that offers in-house wallet services.

The Chrome Web Store offers the Coinbase Wallet extension. This is a noncustodial, non-custodial wallet that allows users store and transact cryptocurrencies as well as nonfungible tokens (NFT). Coinbase users have the option to add support for Ledger and store their private keys offline using a physical Ledger device.

Adam Zadikoff, senior product manager at Coinbase, highlighted the new development as a way to provide additional security and peace of mind for users. He stated:

“We want everyone to be able to access DApps and Web3, so we have to make the most user-friendly and accessible self-custody wallets in the ecosystem. Today’s release fixes [..] the possibility to use a physical wallet for increased security.

Coinbase and Ledger have teamed up to launch a limited-edition Coinbase-branded Nano X wallet on Ledger’s official website.

Cointelegraph reported that Coinbase stores approximately 12% of all crypto over more than 150 asset type types. Alesia Haas was the chief financial officer at the time.

“Nearly half of our customers transact other than buying or selling crypto. This indicates that crypto is moving beyond the initial investment phase and into the long-expected utility stage.”

Similar: Hodlers beware! MetaMask and 40 more crypto wallets are under attack by new malware

Cointelegraph highlighted recently the increasing vulnerabilities of crypto wallets built using browser extensions, such as MetaMask and Binance Chain Wallet, due to the release of a new malware called Mars Stealer.

This malware targets more than 40 browser-based cryptocurrency wallets. It exploits two-factor authenticators via an grabber function, which steals the private keys of users. Security researcher 3xp0rt claims that the malware is a powerful update to Oski trojan.

The malware could also target any Chromium-based browsers such as Google Chrome, Microsoft Edge, and Brave, according to the researcher.

Opinion writer on 7trade7