Coinbase will begin to implement hardware wallet support in Coinbase Wallet Extension in early 2022. Ledger partnered with FTX and made other notable announcements.
Coinbase is an American company that operates a cryptocurrency exchange platform.the leading cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. exchange in the United States, is working to add support for hardware wallets.
The company announced on Thursday that it will integrate its platform with devicesLedger a record of financial transactions that cannot be changed, only appended with new transactions. after signing a partnership with the wallet manufacturer. The initiative will offer users of Coinbase more self-custody options for your digital digital technologies are these electronic tools that have the ability to generate, store or even process data. currency currency is a medium of exchange that defines value. funds.
The purseshardwarealso known as cold wallets, are USB-like devices that operate without an Internet connection allowing users to store their private cryptocurrency keys securely. By keeping cryptographic keysoff-line (off-line), the funds are less prone to theft byhackeos or cyber attacks.
Coinbase to integrate Ledger wallet
According to a press release that was quoted by several news outlets, users of the browser extension walletCoinbase will be able to move and store their cryptocurrencies in cold storage using hardware walletsLedger from 2022. The integration will be carried out in phases during the first quarter of next year.
The announcement was made during the conferenceLedger Op3nwhich is being held this Thursday in Paris. During the event, Max Branzburg, vice president of product atCoinbasesaid that the exchange is developing support for hardware wallets directly within its non-custodial usually referring to the storage of keys, in relation to wallets or exchanges, a non-custodial setup is one in which private keys are held by the user directly. wallet, called theCoinbase Wallet a place where cryptocurrency users can store, send and receive digital assets. (which is different from the wallet offer of the main exchange).
The official Twitter account an account is essentially a whose purpose is to track the financial activities of a specific asset/ ofLedgerwhich reported the news, quoted the CEO ofCoinbase, Brian Armstrong: “Self-custody is the futurenone
BREAKING: At Ledger, we offer #Web3 hardware for a Web2 world. @Coinbase CEO @brian_armstrong said, “self custody custody is a financial institution's legal capacity to keep and preserve financial assets for its clients to avoid asset theft or loss. is the future.”
It’s no secret they are investing in their software wallet. We are very proud to announce the @Coinbase software wallet is adding @Ledger support!
— Ledger (@Ledger) December 9, 2021
This will be the first time that the popular exchange provides support for a hardware wallet, which could mean that in the future the offer will be extended to other brands likeTrezor. As quoted byThe Block a file containing information on transactions completed during a given time period. Blocks are the constituent parts of a blockchain.Branzburg said the integration will begin with the browser version of its wallet, as opposed to its mobile app. The vice president also commented in the statement:
Coinbase is committed to enabling users around the world to use its cryptocurrency securely across the entire Web3 ecosystem. That’s why we partnered with Ledger to create support the opposite of Resistance, it is a threshold that crypto’s price doesn’t fall below. for hardware wallets in Coinbase Wallet.
“ We will begin implementing hardware wallet support in the Coinbase Wallet Extension early next year, and are excited to share more announcements about how we’re making Coinbase Wallet the most secure way to participate in Web3 over the coming months. “, aggregó Branzburg.
Ledger also partnered with FTX
Ledger also indicated today that it has partnered with other companies in the cryptocurrency space. The partnership announcement withCoinbase was part of a series of announcements made by the wallet maker during its conference on Thursday.
Among the news,Ledger said he has partnered with the exchange businesses that allow customers to trade cryptocurrencies for fiat money or other cryptocurrencies. FTX to expand in-house digital asset trading options on its platform a place to buy, sell and store cryptocurrency Ledger Live. As a result, owners ofLedger will now be able to transfer assets to the exchange throughLedger Live from your hardware wallet and continue to perform transactions within the application.
Although, it should be noted that operations through this service will be more costly, sinceLedger agrega una pequeña tarifa por las transacciones realizadas de esta manera, según indicó The Block.
The integration with the exchange takes place a few months after theLedger will add support for the decentralized decentralization refers to the property of a system in which nodes or actors work in concert in a distributed fashion to achieve a common goal. finance protocol the set of rules that define interactions on a network, usually involving consensus, transaction validation, and network participation on a blockchain. (DeFi),ParaSwapwhich allows users of Ledger Live exchange tokens en la cadena de bloques Ethereum a decentralized open-source blockchain with smart contracts functionality. . ParaSwap is a decentralized exchange aggregator (DEX) that supports several DeFi a movement encouraging alternatives to traditional, centralized forms of financial services. protocols, including Uniswap, Sushiswap y Curve .
The hardware company also made other announcements on Thursday, including a new partnership with the marketplace oftokens no fungibles (NFT)Raribleand the launch of a crypto debit card Visa.
In the meantime,Coinbase is also leading efforts to expand its product line. In November, the exchange launched una billetera de browser extension and is now getting ready to launch its NFT’s own trading platform .
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Article by Hannah Estefania Perez /DiarioBitcoin
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