Coinbase announces hardware wallet support, starting with Ledger

Coinbase Exchange announced it will support crypto hardware wallets, starting with Ledger. The two announced at the Ledger Open conference, which will take place on December 9th and 10th in Paris.

Ledger is a major provider of hardware wallets (cold wallets), which 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-management and full control over their assets.

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

Max Branzburg, Vice President of Product at Coinbase, said:

“We look forward to making further announcements in the coming months about the most secure Coinbase wallet that Web3 will join.”

Coinbase stores 12% of all cryptocurrencies

Meanwhile, Coinbase CFO Alesia Haas made some big claims in her testimony to the U.S. House of Representatives Financial Services Committee on Dec. 8 that they went beyond simple swaps.

“Nearly 50% of our customers do more than just simple crypto purchases and sales, which shows us that crypto is moving beyond the initial investment phase into the initial investment phase. Long-awaited benefits”.

Coinbase claims to have more than 73 million customers worldwide, including 10,000 institutions and 185,000 application developers.

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