The Ledger hardware wallet is now supported by Coinbase Wallet

Coinbase has teamed with Ledger to create a limited-edition Coinbase-branded Nano X hardware wallet as part of the launch.
The Ledger hardware wallet is now supported by Coinbase Wallet | Coinscreed

Coinbase Wallet, the in-house wallet service of popular crypto exchange Coinbase, has added support for Ledger hardware wallets to its browser extension.

Coinbase Wallet is a noncustodial wallet available in the Chrome Web Store that allows users to store and exchange cryptocurrencies and nonfungible tokens (NFT).

Coinbase users can now use a physical Ledger device to keep the private keys to their wallets offline, thanks to the addition of Ledger support.

Coinbase senior product manager Adam Zadikoff emphasized the development as a way to provide users with an extra layer of protection and peace of mind. He stated his case:

“We want to empower everyone to use DApps and access Web3, and that requires building the easiest-to-use and most accessible self-custody wallet in the ecosystem. Today’s release solves [..] the ability to use a hardware wallet for enhanced security.”

Coinbase has teamed up with Ledger to provide a limited-edition Coinbase-branded Nano X hardware wallet on Ledger’s official website as part of the launch.

Coinbase apparently keeps around 12% of all cryptocurrency across more than 150 asset types, according to the company’s chief financial officer, Alesia Haas, who stated at the time:

“Nearly 50% of our transacting customers are doing something other than buying and selling crypto, which indicates to us that crypto is moving beyond its initial investment phase into the long-expected utility phase.”

Due to the release of a new malware named Mars Stealer, Cointelegraph has highlighted the rising risks for crypto wallets developed as browser extensions, such as MetaMask, Binance Chain Wallet, and Coinbase Wallet.

The malware targets over 40 browser-based crypto wallets with a grabber function that takes users’ private keys by exploiting two-factor authenticators.

The new malware is a significant improvement of the information-stealing Oski trojan, according to security researcher 3xp0rt.

The malware can also infect all Chromium-based browsers, including Google Chrome, Microsoft Edge, and Brave, according to the researcher.