Coinbase Wallet, a separate wallet service offered by leading cryptocurrency exchange Coinbase, has implemented browser extension support for Ledger hardware wallets.
Available from the Chrome Web Store, the Coinbase Wallet extension is a dishonest wallet that allows users to store and trade cryptocurrencies and non-fungible tokens (NFTs). By adding Ledger support, Coinbase users can use a physical Ledger device to store private keys for an offline wallet.
Adam Zadikov, Senior Product Manager at Coinbase, emphasized that the development is a way to provide an extra layer of security and greater security for users. He said:
“We want everyone to be able to use DApps and access Web3, and this requires creating the easiest and most intuitive self-managed wallet in the ecosystem. Today’s release replaces [..] the ability to use a hardware wallet. To improve security.”
As part of the launch, Coinbase has partnered with Ledger to release a limited edition Coinbase-branded Nano X hardware wallet on the official Ledger website.
As previously reported by Cointelegraph, Coinbase is said to own about 12% of all cryptocurrencies in over 150 asset types, as the company’s chief financial officer, Alicia Haas, stated at the time:
“Nearly 50% of our transaction customers do something other than buying and selling cryptocurrency, which indicates to us that crypto is moving from the first stage of investment to the long-awaited stage of use.”
Related: Scammers, Beware! New malware targets MetaMask and 40 other crypto wallets
Cointelegraph recently highlighted the increasing vulnerability of crypto wallets created as browser extensions such as MetaMask, Binance Chain Wallet and Coinbase Wallet due to the launch of a new malware called Mars Stealer.
The malware targets more than 40 browser-based cryptocurrencies using two-factor authentication with a snatching feature that steals users’ private keys. According to security researcher 3xp0rt, the new malware is a powerful update to the information-stealing Oski Trojan.
The researcher also noted that the malware can target all Chromium-based browsers, including Google Chrome, Microsoft Edge, and Brave.