Coinbase have announced the addition of Bitcoin with support for segWit and legacy bitcoin address to their cryptocurrency Coinbase Wallet for its IOs and Android users.
The San Francisco-based cryptocurrency exchange, made the announcement via its blog post on Wednesday stating that the update comes with the support for bitcoin.
According to the post, support for bitcoin is now available on the wallet app for both iOS and Android users. With this update the app will supports both SegWit and legacy bitcoin addresses for backwards compatibility.
“Starting today, you can now store your Bitcoin (BTC) directly in the Coinbase Wallet app.” “The new Wallet update with Bitcoin support will roll out to all users on iOS and Android over the next week. Bitcoin support is activated by default — all you need to do is tap ‘Receive’ on the main wallet tab and select Bitcoin to send BTC to your Coinbase Wallet.” The blog post reads.
Before this announced update, Coinbase Wallet already supports ethereum (ETH), ethereum classic (ETH) and “over 100,000” different ERC-20 tokens and ERC-721 collectibles built on ethereum, the exchange said, stating that it is also working on to add support for bitcoin cash (BCH), litecoin (LTC) and other major cryptos to its wallet going forward.
The exchange also confirmed via the blog post, that supports for cash (BCH), Litecoin (LTC) and other major cryptos is expected to take place soon enough as it is already making plans towards that.
For clarification purposes, Coinbase expalined that with the main Coinbase app or Coinbase.com, users can buy cryptocurrencies and the exchange itself stores the keys centrally. But with Coinbase Wallet app, users safeguard their own private keys, which are encrypted using Secure Enclave technology for better security.
Coinbase goal as stated in the post for its Coinbase Wallet is to create the world’s leading user-custodied crypto wallet.