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Coinbase launches Bitcoin support on mobile wallet; Bitcoin Cash and Litecoin to be launched soon

Jibin M George

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Bitcoin [BTC]: Coinbase launches Bitcoin support on mobile wallet; Will launch BCH and LTC soon
Source: Pixabay

Coinbase, the San-Francisco based cryptocurrency exchange has taken a step forward towards making the use of cryptocurrencies easier by announcing that Bitcoin can now be stored on its mobile wallet. The announcement means that users can now store and use their Bitcoins on their Coinbase mobile wallets.

The new wallet update that is set to be initiated over the next week for iOS and Android users is another step in Coinbase’s plans to make its wallet the world’s leading user-custodied crypto-wallet. The wallet already supports Ethereum, Ethereum Classic and hundreds of other ERC20 tokens built on the Ethereum platform. The browser-based wallet had been converted to its present form after changes were made to Toshi, the world’s first mobile dApp browser.

Source: Twitter

However, Coinbase has announced that it is not stopping at allowing Bitcoin, the world’s largest cryptocurrency to be stored inside its mobile wallets. Instead, the cryptocurrency exchange will also be working towards making sure other cryptocurrencies such as Bitcoin Cash [BCH] and Litecoin [LTC] are integrated to the platform soon, making it possible for them to be stored in the wallets as well.



The announcement made by Coinbase via its Twitter and Medium channels suggests that the mobile wallet will be backwards compatible too. Not only will it be able to accept new Bitcoin SegWit addresses with lower transaction fees but, it will also be able to accept legacy addresses. Coinbase also promises that its new mobile wallet will have Secure Enclave technology, a state-of-the-art security software that offers extra layers of protection to the users’ private keys and protects against any breach of private data.

More than just a mobile wallet, however, Coinbase has promised that new updates to the wallet will make it the most user-friendly dApp platform anywhere in the market.





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Tether’s [USDT] market capitalization hits all-time high, Facebook in talks with Winklevoss twins, trading firms over new cryptocurrency and more

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Tether’s [USDT] market capitalization hits all-time high, Facebook in talks with Winklevoss twins, trading firms over new cryptocurrency and more

Daily Crypto News – May 25

1) Bitcoin Wallet receives part of 5,000 BTC: A recent Whale Alert highlighted a transaction on May 24, where a large sum of Bitcoin [BTC] exchanged hands between two anonymous wallets. According to the alert the transaction took place at 22:13:23 + 1 minutes and 5,000.00001092 BTC was transferred from an unknown wallet, with address 19SiCYaYKZh9A8HUjuh14eg5wtYzKxiFbB, to another unknown wallet with address 14GcjGjxwadzcpmq9EG3KUgTKATjurbnWt.

Read more at https://bit.ly/2VRQwb0

2) Bitwise Report 2.0: Bitcoin [BTC] futures continues growth: On a month-on-month basis, Bitcoin Futures saw a massive bump in April trading at an average of 10,000 contracts daily, peaking on April 4, with over 22,000 contracts traded. To put that number in perspective, in March 2019, the average contracts traded was less than 4,000. Despite the high standards set in April, the average daily contracts traded in May, with 25 days gone has exceeded 14,000 and still looks to grow, given the price performance of Bitcoin.

Read more at https://bit.ly/2W40sTR

3) Craig Wright on private keys: Craig S Wright has, for years, claimed he is the true creator of Bitcoin [BTC] without providing a shred of evidence to support the same. With the crypto-community levelling, Wright could prove his worth by sending BTC from Satoshi Nakamoto’s touted wallet containing around 980,000 BTCs, the BSV man in a twisted cause and effect situation, stated he will “sign” into his wallet only when he proves he is the creator.

Read more at https://bit.ly/2X6fdlw

4) Tether’s [USDT] market cap hits ATH: Tether and Bitfinex are being closely scrutinized now more than ever due to the NYAG’s lawsuit; however, the scrutiny doesn’t seem to have affected Tether as the market cap of USDT has increased by over $100 million in approximately 70 days.

Read more at https://bit.ly/2McaTjE

5) Tether volume shift: Another controversial topic in the cryptocurrency industry was the issue of fake transaction volumes on many of the popular cryptocurrency exchanges. The magnitude of the topic was so large that even Changpeng Zhao, the Chief Executive Officer [CEO] of Binance had raised red flags. This topic and Tether as a whole received another twist when Larry Cermack, the Director of Research at The Block, pointed out a few parameters when it came to the said volume.

Read more at https://bit.ly/2wmk4mJ

6) Bitfinex’s LEO tokens listed on Delta Exchange: Bitfinex’s Leo tokens faced quite a lot of criticism when they were announced, due to the missing $850 million funds from Bitfinex. The private investment round by Bitfinex also faced a lot of heat from the media. However, in a recent development, Leo tokens are being listed on various exchanges for trading.

Read more at https://bit.ly/2HUEnNB



7) Robinhood en-route a projected valuation of $7 billion: Robinhood, the California-based cryptocurrency exchange made headlines recently when a source close to the organization revealed that it was on the verge of closing their latest round of funding at a valuation of a whopping $7 billion – $8 billion. Sources even claimed that the current round of funding could act as a precursor to an even bigger round of funding, which would pit Robinhood with the bigwigs like Coinbase and Binance.

Read more at https://bit.ly/2W64KKj





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