Coinbase have announced the addition of Bitcoin to their cryptocurrency Coinbase Wallet. The major news means users are now able to store their own BTC on their Coinbase Wallet, with their own private keys, ensuring that their Bitcoin is held by them and no one else.
The announcement means that Coinbase Wallet app can now store Bitcoin, Ethereum, Ethereum Classic and over 100,000 different ERC20 and ERC721 tokens and collectibles.
Coinbase Wallet builder Siddharth Coelho-Prabhu announced that "Our goal with Coinbase Wallet is to create the world’s leading user-custodied crypto wallet."
The latest addition of Bitcoin is certainly a step in the right direction. The new update which will include BTC support is set to roll-out next week on iOS and Android. The wallet will support newer Segwit addresses with lower transaction fees as well as Legacy addresses for backwards compatibility.
Coinbase will be looking forward to offering their customers a safer way of holding their own cryptocurrencies with the use of Coinbase Wallet. Private keys are set to be encrypted on your phone using Secure Enclave technology. "The hardware is considered the most secure way to safeguard private data on mobile devices"