Crypto Giant Unveils New Coinbase Wallet
A giant in the crypto industry and innovation leader, Coinbase is a digital currency platform for crypto entrepreneurs where merchants and consumers can transact with new digital currencies like Bitcoin, Ethereum, and Litecoin through a crypto wallet or browser.
Coinbase launched Toshi – a private and secure messaging app, Ethereum wallet and browser in April 2017 which was well received. However, on Thursday, the California-based company announced that it was improving its offering even further by replacing Toshi with Coinbase Wallet which it claims will be the easiest and most secure crypto wallet and browser.
A spokesperson said:
“We’re proud to announce that Toshi is becoming Coinbase Wallet. At Coinbase, we believe that the applications of the future will be built on a decentralised internet (the blockchain). Everyone will own a crypto wallet that allows them to access decentralised applications (dapps) and that wallet will be their gateway to the open financial system.”
Toshi was developed by the Coinbase team over a year ago. When the product launched, it featured the world’s first mobile dapp browser. Later, it became the first wallet to launch crypto collectables. The company states:
“Our goal was to make managing crypto and accessing the decentralised web as easy as downloading an app on your mobile phone and as part of our effort to be the most trusted brand in the space, we also set out to provide best-in-class secure storage with Coinbase Wallet, your private keys are secured using your device’s Secure Enclave and biometric authentication technology.”
Coinbase claims its new wallet is more than just a tool to access cryptocurrency but a home-base for exploring the decentralised web and its possibilities.
With Coinbase Wallet, users can manage ETH and ERC-20 tokens promising to support BTC, BCH and LTC soon. They can also receive airdrops and ICO tokens and buy and store crypto collectibles — non-fungible tokens that are unique — and use them in games, or trade them on marketplaces.
Users can send payments to anyone anywhere, without geographical borders or fees and have access to leading decentralised exchanges and relayers to buy and sell tokens.
There’s also the option to explore the full universe of third-party dapps that enable everything from taking out a loan or lending to others on the blockchain to earning crypto by answering questions, performing services, or completing tasks.
With all these features and more, Coinbase Wallet will no doubt become a very popular platform for many cryptocurrency users, including entrepreneurs and companies looking for DApp adoption.
Existing Toshi users need not be alarmed, as their Toshi app will automatically upgrade to the new Coinbase Wallet shortly.
In his blog, Coinbase developer Siddharth Coelho-Prabhu says:
“Goodbye Toshi, hello Coinbase Wallet — the easiest and most secure crypto wallet and browser. If you already use Toshi, you can look forward to the same great product, with a brand new look. We view our job at Coinbase as building the easy to use, trusted products that move the world closer to an open financial system. Coinbase Wallet is one part of our effort to accelerate the adoption of crypto and dapps around the world.
We’re looking forward to keeping our community updated as we continue to build the most secure and easy to use crypto wallet in the space.”
By Joy Lewis.