By Adam Zadikoff, Senior Product Manager
Since launching the Coinbase Wallet browser extension as a standalone self-custody option in November, we’ve seen incredible adoption. Wallet extension makes it even easier to explore web3 by bringing the world of decentralized apps (dapps) to more devices. Today, we’re adding support for Ledger hardware wallets to Coinbase Wallet extension, providing an additional layer of security and greater peace of mind for our users.
Ledger is an industry leader in hardware wallets, with more than 4 million people putting their trust in Ledger to keep their crypto safe. To celebrate today’s launch, we have partnered with Ledger to release the Nano X Coinbase Edition, which is available for a limited time in Ledger’s online store.
Building the most user-friendly self-custody experience in crypto means giving our users more ways to keep their crypto secure while they access web3 and the world of crypto. And today’s launch is just the beginning — we will continue to build out support for more hardware wallets across all of our users’ devices.
Coinbase Wallet is your passport to collecting NFTs, participating in DeFi, joining a DAO, and so much more. As you start to live more of your life on the blockchain, it’s more important than ever to keep your assets safe.
Fortunately, there are many steps you can take to keep you and your assets safe as you explore web3. It all starts with your recovery phrase, backing it up in a secure location, and making sure to never share it with anyone. And as a reminder, Coinbase will never ask you for your recovery phrase.
Coinbase Wallet offers additional layers of security for our users. For users of Wallet browser extension, we recommend adding a password to keep your assets safe. And in the Coinbase Wallet mobile app, you can use biometrics or a PIN to secure your Wallet.
Today, we are adding support for Ledger hardware wallets in the Coinbase Wallet browser extension, introducing an additional security option for our users. Hardware wallets are physical devices that store the private keys to your crypto wallet offline. Because every transaction on the blockchain requires both a user’s public and private keys, a hardware wallet ensures that only the user who holds the physical device can complete a transaction.
Using a hardware wallet is a lot like using two factor authentication to secure a website login, but instead of a six digit code that is sent as an SMS or generated in an authenticator app, your hardware wallet is used to physically confirm transactions with the press of a button.
Whether you are a first-time hardware wallet user or already have a Ledger it is easy to use Coinbase Wallet to connect to the ever-growing world of NFTs, dapps, and DeFi. All you need to do is download the Coinbase Wallet browser extension, connect your Ledger to your computer, and follow the on-screen instructions.
While today’s launch brings support for Ledger devices to the Wallet extension, we have ambitious plans to support more types of hardware wallets not only in Coinbase Wallet extension, but with our mobile apps as well. We will soon also add support for users with multiple active wallet addresses on a single Ledger device to select which address they want to use with Coinbase Wallet.
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 another set of important user needs, including the ability to use a hardware wallet for enhanced security.
You can experience the latest enhancements for yourself by downloading Coinbase Wallet for free from the App Store on iOS, Google Play on Android, or the Chrome web store. Make sure to follow us on Twitter @CoinbaseWallet for the latest Wallet-related news.