Coinbase has teamed with Ledger to create a limited-edition Coinbase-branded Nano X hardware wallet as part of the launch.
Coinbase Wallet, the company’s in-house wallet service, has added support for Ledger hardware wallets to its browser extension.
The Coinbase Wallet extension, which is available in the Chrome Web Store, is a non-custodial wallet that enables users to securely store and transact with cryptocurrencies and nonfungible tokens (NFT). With the addition of Ledger compatibility, Coinbase users can now choose to use a physical Ledger device to keep their wallet’s private keys offline.
Coinbase senior product manager Adam Zadikoff described the move as a way to provide users with an additional layer of protection and peace of mind. As he stated:
“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.”
Coinbase has teamed with Ledger to launch a limited-edition Coinbase-branded Nano X hardware wallet on Ledger’s official website as part of the launch.
As previously reports, Coinbase apparently holds around 12% of all cryptocurrency across more than 150 asset classes, with Alesia Haas, the company’s chief financial officer, remarking at the time:
“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.”
Recently, a new malware named Mars Stealer exposed the growing vulnerabilities of crypto wallets created as browser extensions, including as MetaMask, Binance Chain Wallet, and Coinbase Wallet.
The malware targets over 40 browser-based crypto wallets by abusing two-factor authenticators and stealing users’ private keys via a grabber feature. According to security researcher 3xp0rt, the new virus is a significant enhancement to the Oski trojan that steals sensitive information.
Additionally, the researcher claimed that the malware is capable of infecting any Chromium-based browsers, such as Google Chrome, Microsoft Edge, and Brave.
Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.