One of the largest crypto exchanges, Coinbase announced the support for Ledger Hardware wallet with more security features through the Coinbase wallet browser extension.
The first time any crypto exchange-based wallet supports integration with a hardware wallet.
The Coinbase wallet is a non-custodial wallet that enables users to buy, sell or hold digital assets such as cryptocurrencies and NFTs.
With the integration of Ledger, Coinbase users will be able to use a hardware device to maintain the private keys to their wallets offline.
Adam Zadikoff, a senior product manager of Coinbase believes that the support of Ledger will provide an additional layer of security and greater peace of mind for users.
He said, “We want to empower everyone to use DApps and access Web3, and that requires building the easiest-to-use and most accessible self-custody wallet in the ecosystem. Today’s release solves [..] the ability to use a hardware wallet for enhanced security.”
To celebrate this integration, Coinbase has partnered with Ledger to launch a limited-edition Coinbase-branded Nano X hardware wallet on Ledger’s official website.
Coinbase stores about 12% of most crypto from more than 150 assets. Earlier, the company’s chief financial officer, Alesia Haas stated:
“Nearly 50% of our transacting customers are doing something other than buying and selling crypto, which indicates to us that crypto is moving beyond its initial investment phase into the long-expected utility phase.”
Coinbase continuously is adding new extensions to its platform to enhance its reach. Recently, Coinbase introduced an extension incorporating full standalone functionality.
