Coinbase Announces Supporting Hardware Wallet Ledger

Coinbase, the largest crypto exchange in the USA in terms of transaction volume, continues to bring new products and solutions to its ecosystem. Finally, Coinbase announced its support for Ledger, a popular crypto hardware wallet for its Wallet product.

Coinbase Announces Supporting Hardware Wallet Ledger

Hardware wallets (aka cold wallets) are physical devices designed to store users' private keys offline rather than in centralized places such as exchanges, called hot wallets. Private keys are a critical piece of information required to authorize transactions on the networks of Blockchain networks such as Bitcoin or Ethereum. However, they are highly susceptible to theft and hacking when stored online.

Coinbase will also be aware of this, as it has brought Ledger wallet integration. It is now available through the Coinbase wallet browser extension, which provides users with an additional layer of security.

Charles Hamel, Vice President of Product at Ledger, made the following statements on the subject:

“There is no future in Web3 without security at the start of the consumer journey. With billions of transactions occurring each month, we believe every user deserves world-leading security and ease of use, no matter what or why you trade. The Coinbase and Ledger partnership builds this for the crypto and NFT communities.”