Coinbase cryptocurrency exchange has added support for Bitcoin Cash (BCH) to its Coinbase wallet app shortly after it added support for first non-ethereum based cryptocurrencies.
The U.S.-based crypto operators announced on Tuesday, Feb. 19, via a blog post on its website that it has added support for BCH. “Starting today, you can now store your Bitcoin Cash (BCH) directly in the Coinbase Wallet app,” the statement read.
“The new Wallet update with Bitcoin Cash support will roll out to all users on iOS and Android over the next few weeks.”
It noted that the wallets will immediately be compatible with both the new CashAddr address formats, as well as Legacy addresses in all applications.
Expanding the Coinbase Wallet App
As Smartereum reported, Coinbase added support for bitcoin (BTC) earlier this month making it the first non-ethereum cryptocurrency supported by the app. The Coinbase app was originally developed as Toshi, a wallet for ethereum tokens until May of last year when it was moved to Coinbase wallet. The team promised to expand the support for other cryptocurrencies.
With Coinbase announcement, the wallet app will now support Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic as well as over 100,000 different ERC20 tokens and ERC721 collectibles built on Ethereum.
Siddharth Coelho-Prabhu, Product Lead at Coinbase explained that the team’s goal with Coinbase Wallet is to create the world’s leading user-custodied crypto wallet. With the Coinbase wallet app, users can store their private keys on their devices, buy and store crypto-collectibles, use third-party DApps and receive airdrops and tokens from ICOs.
Recent Developments at Coinbase
Following the split of the Bitcoin Cash (BCH) last year which gave rise to the Bitcoin Cash ABC side and the Bitcoin SV (BSV) side, Coinbase adopted the ABC side as the main BCH chain. Although it did not list BSV, the exchange has made provisions for BCH holders to withdraw their BSV coins which resulted from the hardfork.
Last week, Coinbase added a new feature which allowed users to back up an encrypted version of their private keys on Google Cloud and iCloud storages. And though this was met with mixed reception, Coinbase noted that it will allow users to access their accounts from multiple devices. This comes as the crypto community is faced with the QuadricX debacle which ensued as CEO and founder of the exchange died with sole access the wallets that reportedly contains customers’ cryptocurrency worth 190 million.
Solomon Sunny is the market reporter for Smartereum, one of the global leaders in Ethereum, blockchain and currency news. He produces technical price updates on digital currencies and writes recent developments about blockchain.