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The cryptocurrency industry is all about innovation. This is an industry that refuses to rest on its laurels when it comes to improving the products and services offered. In one of last week’s featured stories on ArmyOfBitcoin.com, it was announced that Coinbase was adding support for Bitcoin Cash with a new wallet application. This company has established itself as the United State’s biggest cryptocurrency exchange and wallet provider.
According to company sources at Coinbase Wallet, the new update is set to roll out in the near future. In a direct quote from a company spokesperson, it was noted that: “The new Wallet update with Bitcoin Cash support will roll out to all users on iOS and Android over the next few weeks.”
Coinbase Wallet should be viewed as an upgraded version of its past applications. This originally was thought of as Coinbase’s open source decentralized app browser and wallet known as Toshi. The company decided to rebrand that product as Coinbase Wallet. This upgraded version stakes the claim that it is more secure and more transparent in a combined form. As stated on the company homepage, the service will allow customers to store “all your digital assets in one place.”
This also involves the use of “Decentralized Apps” as well as “Pay friends, not addresses.”
What this effectively accomplishes is a way for customers to store their own private keys on their devices. You can also buy and store crypto-collectibles along with using third-party apps. Even more attractive are ways to receive airdrops and tokens from initial coin offerings.
The added support for Bitcoin Cash is viewed as another step forward for Coinbase Wallet. There has been a continuing drive towards actively updating its overall service in recent weeks. Earlier in February, it added support for Bitcoin in its Wallet app. Going back to February 13, the company announced that customers can now “back up an encrypted version of their private keys to their personal cloud storage account. These accounts include either iCloud or Google Drive.”
Coinbase itself has recently taken steps to team up with PayPal to offer withdrawals to Coinbase users in Europe.
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