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Good News: Coinbase Announces Wallet Support For XRP Holders

Altcoins

Good News: Coinbase Announces Wallet Support For XRP Holders

XRP is one popular cryptocurrency that never seems to get out of the media focus. Every now and then, there’s something going on about XRP or its creator company, Ripple. As a matter of fact, most of the reports that circulate regarding these two entities are all about development achievements – like Ripple netting more institutional customers willing to use XRP as base currency, or XRP getting listed on new crypto exchanges.

This time around, XRP is getting even more support from a large and popular crypto exchange, Coinbase. Just a few weeks ago, Coinbase announced that it was listing XRP and facilitating the crypto’s trade on its platform. Now, the exchange is doing even more. Turns out, a dedicated wallet would do the trick.

Coinbase Wallet

Being a large and respected crypto exchange, Coinbase has taken steps to foster better customer relations as well as ensure the safety of the digital assets kept on its platform. As such, the exchange has developed an in-house digital wallet known as the Coinbase Wallet.

To better support XRP, Coinbase has announced that XRP holders can now use the Coinbase Wallet to secure their assets. The wallet already supports other cryptos including Ethereum, Bitcoin, Ethereum Classic, Bitcoin Cash, and numerous other ERC721 and ERC20 collectibles based on the Ethereum network.

How It Works

The Coinbase Wallet works much like other digital wallets. It uses the Secure Enclave technology to encrypt private keys. In fact, the Secure Enclave technology is currently the most secure way to ensure the safety of data stored on mobile devices.

Coinbase plans to avail the new wallet app integrated with XRP support over the coming week. The wallet will also support XRP Testnet for use by power users and developers. The app will be available for use on both Android and iOS devices.

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