Coinbase Wallet Expanding with New Support for Bitcoin Cash
The US’s biggest cryptocurrency exchange and wallet provider, Coinbase, announced earlier that it now has added support for Bitcoin Cash to its Coinbase Wallet.
The company made the announcement in a press release published yesterday.
According to the Coinbase Wallet, the new update is set to roll out in a few weeks:
“The new Wallet update with Bitcoin Cash support will roll out to all users on iOS and Android over the next few weeks.”
The Coinbase Wallet is an upgraded version of what began initially as Coinbase’s open source decentralized app browser and wallet called Toshi.
Rebranding as Coinbase Wallet, the upgraded version claims to be more secure and more transparent at the same time.
According to the Coinbase Wallet homepage, the service allows customers to store “all your digital assets in one place.” And also to “Use Decentralized Apps” and “Pay friends, not addresses.”
Effectively, it allows customers to store their own private keys on their devices, buy and store crypto-collectibles, use third-party dApps, and receive airdrops and tokens from initial coin offerings.
The latest support for Bitcoin Cash is just another step forward for Coinbase Wallet, which has been actively updating its service in recent weeks.
Earlier in February, it added support for Bitcoin to its Wallet app. Then on February 13th, it announced that customers can now “back up an encrypted version of their private keys to their personal cloud storage account. These accounts include either iCloud or Google Drive.”
Coinbase itself has bee actively growing too. The crypto service has teamed up with PayPal to offer PayPal withdrawals to Coinbase users in Europe.
The company has been looking to diversify its cryptocurrency support in recent months. It announced in December that it will potentially add an additional 30 different cryptos to its platform. As it stands, it offers users only five cryptos. They are Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, and Litecoin.
At the time of writing, Bitcoin Cash is trading for $146.60 USD, up 0.33% on the day, according to CoinMarketCap.
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