Coinbase, the San-Francisco based cryptocurrency exchange has taken a step forward towards making the use of cryptocurrencies easier by announcing that Bitcoin can now be stored on its mobile wallet. The announcement means that users can now store and use their Bitcoins on their Coinbase mobile wallets.
The new wallet update that is set to be initiated over the next week for iOS and Android users is another step in Coinbase’s plans to make its wallet the world’s leading user-custodied crypto-wallet. The wallet already supports Ethereum, Ethereum Classic and hundreds of other ERC20 tokens built on the Ethereum platform. The browser-based wallet had been converted to its present form after changes were made to Toshi, the world’s first mobile dApp browser.
However, Coinbase has announced that it is not stopping at allowing Bitcoin, the world’s largest cryptocurrency to be stored inside its mobile wallets. Instead, the cryptocurrency exchange will also be working towards making sure other cryptocurrencies such as Bitcoin Cash [BCH] and Litecoin [LTC] are integrated to the platform soon, making it possible for them to be stored in the wallets as well.
The announcement made by Coinbase via its Twitter and Medium channels suggests that the mobile wallet will be backwards compatible too. Not only will it be able to accept new Bitcoin SegWit addresses with lower transaction fees but, it will also be able to accept legacy addresses. Coinbase also promises that its new mobile wallet will have Secure Enclave technology, a state-of-the-art security software that offers extra layers of protection to the users’ private keys and protects against any breach of private data.
More than just a mobile wallet, however, Coinbase has promised that new updates to the wallet will make it the most user-friendly dApp platform anywhere in the market.