Coinbase rolls out wallet support for Bitcoin [BTC]
Coinbase, one of the largest exchanges by trading volume, has added wallet support to Bitcoin. The exchange said that it will be rolling out support for Bitcoin on Coinbase wallet app starting today. The exchange’s wallet app already supports Ethereum and other ERC 20 tokens. It is currently working to add support to other major cryptocurrencies like Bitcoin Cash and Litecoin.
“The new Wallet update with Bitcoin support will roll out to all users on iOS and Android over the next week. Bitcoin support is activated by default — all you need to do is tap ‘Receive’ on the main wallet tab and select Bitcoin to send BTC to your Coinbase Wallet,” said the exchange blog.
Coinbase wallet supports both Legacy addresses and Segwit addresses for backward compatibility in the exchange’s apps. It provides secure storage for private keys on the phone via Secure enclave technology. “This specialized hardware is considered the most secure way to safeguard private data on mobile devices,” said the exchange.
Coinbase enables PayPal withdrawals for EU customers
Coinbase has enabled PayPal withdrawals for all EU customers and customers under the European free trade association [EFTA]. The exchange rolled out PayPal support for its U.S customers last Christmas. They also boasted zero fee withdrawals from PayPal accounts.
Coinbase is seeking to expand Paypal withdrawals and has now entered the EU territory. The exchange has extended the new service to 32 European countries with 28 countries under EU and four countries; Iceland, Liechtenstein, Norway and Switzerland, under EFTA.
Customers can link their Coinbase accounts to PayPal accounts and choose a payment method to enable withdrawals.
Coinbase launched PayPal support in June 2016. However, the company had to halt services in early 2018 due to technical difficulties. The exchange spokesperson told that there is a new functionality improvement from the old one. “There is new technical work to make this possible, and that was done in conjunction with PayPal,” he said at the time.
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