Coinbase Wallet App Announces Support For Bitcoin (BTC)

Coinbase Wallet App Announces Support For Bitcoin (BTC)

Bitcoin Core

According to a recent report, the San Francisco based crypto exchange, Coinbase has made public its support for Bitcoin Core (BTC) in the company’s noncustodial wallet app which was initially dedicated to Ethereum (ETH), Ethereum classic (ETC), ERC721, and ERC20 tokens. The company, however, plans to add more currencies to the wallet the near future.

Support for BTC added to Coinbase Wallet App

Coinbase released a non custodial wallet which is a rebrand of the ‘Toshi’ client that was launched back in April 2017 and its functions include sending, storing, and receiving of ETH, ETC, and several other ERC based tokens. It also connects to a dapp browser which showcases specific ETH- fueled platforms.

After the development team at the exchange had announced their intention to include BTC in the company’s wallet a couple of weeks ago, a representative at the exchange, Siddharth Coelho-Prabhu on the 5th of February revealed that developers have fully integrated support for the currency.

The announcement states that:
“Our goal with Coinbase Wallet is to create the world’s leading user custodied crypto wallet.”

Coelho-Prabhu, a representative of the exchange went further to state that: “Bitcoin support is activated by default — all you need to do is tap ‘Receive’ on the main wallet tab and select Bitcoin to send BTC to your Coinbase Wallet,” “Coinbase Wallet supports both newer segwit addresses with lower transaction fees, as well as legacy addresses for backward compatibility in all applications.” he continued.

According to the representative, the light client’s private keys are encrypted on the user’s mobile phone or tablet using secure enslave technology just like the previous version of the wallet.

He said: “This specialized hardware is considered the most secure way to safeguard private data on mobile devices.”

ETH and BTC testnets Supported

He further explained that the Coinbase light client also supports the ETH and BTC testnets which allows programmers to work with testnet coins to deploy cryptocurrency integrated applications in the tool such as Instadapp, Totle, Cent ,Peepeth, Compound, Smartdrops, Oasis Direct, Airswap, Paradex, and all Ethereum-based protocols. You can also click the “Discover Dapps” button to find more applications within the wallet’s browser.