Coinbase announces hardware wallet support, starting with Ledger

Coinbase Exchange announced that it will support cryptocurrency hardware wallets starting with Ledger. This was announced at the Ledger Open conference, which will take place on December 9 and 10 in Paris.

Ledger is a major provider of hardware wallets (cold wallets) that store users’ private keys more securely than online wallets (hot wallets).

Coinbase Wallet browser extension users can connect their Ledger hardware wallet while maintaining self-governance and full control over their assets.

The partnership will roll out gradually from the first quarter of 2022. Thereafter, the Coinbase mobile app will also support ledger wallets.

Max Branzburg, VP of Products at Coinbase, said:

“We look forward to further announcements in the coming months about the safest Coinbase wallet Web3 will join.”

Coinbase holds 12% of all cryptocurrencies

Meanwhile, Coinbase CFO Alesya Haas said in testimony to the US House of Representatives Financial Services Committee on December 8 that they go beyond simple swaps.

“Almost 50% of our clients are doing more than buying and selling cryptocurrency, which shows us that cryptocurrency is moving from the initial investment phase to the initial investment phase. Long-awaited benefits ”.

Coinbase claims to have over 73 million customers worldwide, including 10,000 organizations and 185,000 app developers.