Coinbase Welcomes Ledger Wallets
In a move that’s sure to excite crypto enthusiasts, Coinbase announced at the Ledger Open conference in the bustling city of Paris that it will start supporting hardware wallets, beginning with the well-known Ledger. This partnership is set to enhance how users manage their digital assets, combining convenience with security.
Why Hardware Wallets Matter
For those who might still be lost in the wild world of cryptocurrency, a hardware wallet is your shining knight in the quest for securing digital assets. Unlike hot wallets that are connected to the internet (and, let’s be honest, often more vulnerable to hacking), hardware wallets, such as those made by Ledger, store your private keys offline. Think of it as a super locked treasure chest for your crypto treasure!
Connecting with Coinbase Wallet
Users of the Coinbase Wallet browser extension will soon be able to link their Ledger hardware wallets, allowing for self-custody and greater control over their digital fortune. So forget about trusting someone to hold your treasure; you’ll be the captain now, sailing the vast seas of Web3 in security.
A Phased Rollout
This partnership isn’t just a spontaneous dinner date; Coinbase plans to roll out these features in phases, beginning in the first quarter of 2022. That’s right! Not only will you get to connect with Ledger on your browser, but there are plans to integrate with the Coinbase mobile app too!
Max Branzburg’s Vision
Max Branzburg, the vice president of product at Coinbase, couldn’t hide his excitement, stating, “We’re excited to share more announcements on how we’re making Coinbase Wallet the safest and most secure way to participate in Web3 over the coming months.” Safe to say, a secure crypto future is on the horizon!
Coinbase’s Dominance in the Crypto Market
On another note, Alesia Haas, Coinbase’s chief financial officer, recently shared in a testimony to the United States House Committee on Financial Services that Coinbase now houses about 12% of all crypto across more than 150 asset types! Quite the impressive balance sheet, eh? She noted that nearly half of their active customers are entering a new phase of utility, moving beyond just trading and into diverse crypto applications.
The Numbers Game
To put things in perspective, Coinbase boasts over 73 million customers worldwide, including around 10,000 institutional clients and 185,000 app developers. That’s a small city of crypto lovers right there!
Final Thoughts
The marriage of Coinbase and Ledger isn’t merely an upgrade in services; it’s a sign of the times, where security and self-control are becoming paramount in the digital asset arena. As each new phase unfolds, the excitement for more secure crypto dealings continues to build!
