TL;DR: Siddharth Coelho-Prabhu of Coinbase announced the popular United States cryptocurrency exchange/bank is now supporting bitcoin cash (BCH) on the company’s proprietary wallet.
Coinbase Wallet Adds Bitcoin Cash (BCH)
“Starting today, you can now store your Bitcoin Cash (BCH) directly in the Coinbase Wallet app,” Coelho-Prabhu posted to the company’s blog. “Our goal with Coinbase Wallet is to create the world’s leading user-custodied crypto wallet. Coinbase Wallet already supports Bitcoin, Ethereum, Ethereum Classic, and over 100,000 different ERC20 tokens and ERC721 collectibles built on Ethereum. Adding support for Bitcoin Cash is an important next step in that direction,” he emphasized.
In the next few weeks users of both iOS and Android will be able to have BCH in their Coinbase wallet. “BCH support is activated by default — all you need to do is tap ‘Receive’ on the main wallet tab and select Bitcoin Cash to send BCH to your Coinbase Wallet,” they explained, and both address formats, legacy and CashAddr, will be active.
As for private keys, they’re “encrypted on your phone using Secure Enclave technology, to bring you best-in-class security. This specialized hardware is considered the most secure way to safeguard private data on mobile devices,” Coelho-Prabhu insisted. Its wallet “also supports the Bitcoin Cash Testnet to aid developers and power users. You can switch to the testnet from the Advanced Settings section of the Settings tab. We also plan to add support for the JSON Payment Protocol in the future.”
Crypto exchanges of late have received bad press, from users’ funds disappearing, to ongoing legal drama concerning the mother of all hacks, Mt. Gox. It appears Coinbase is moving in a direction that will allow customers more control over funds, as advocates for such policies have stressed: not your keys, not your crypto. The addition of even more support for BCH comes just days after the exchange revealed it would give users access to their BSV, but would not allow BSV to be traded on their platform.
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