Coinbase Adds BTC Support on Its Wallet App

The exchange will roll out updates on both Android and iOS over the next week.

The United States’ leading cryptocurrency exchange and wallet platform Coinbase has added Bitcoin support to its Wallet app allowing the users to accept Bitcoin directly on the wallet platform.

According to Wednesday’s official announcement, the exchange will start sending updates to all its Wallet app users on both Android and iOS over the next week.

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“Coinbase Wallet already supports Ethereum, Ethereum Classic, and over 100,000 different ERC20 tokens and ERC721 collectibles built on Ethereum. Adding support for Bitcoin is an important next step in that direction,” Coinbase noted.

Until now, Coinbase users were only able to store Bitcoin on its exchange-controlled wallets. The exchange explained that with this development, the users would get more control over their assets as they will have the wallet’s private key.

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“Coinbase Wallet supports both newer SegWit addresses with lower transaction fees, as well as Legacy addresses for backward compatibility in all applications,” the exchange added.

Global Market is the New Target

After establishing its dominance in the US, Coinbase is now eyeing for global expansion especially in Europe. The exchange has recently hired Mark Kelly, a well-known compliance expert, to oversee its oversee its compliance needs in its new UK-based office.

Yesterday, the exchange announced that its users in 32 EU and European Free Trade Association countries can now withdraw funds directly into their PayPal accounts.

Last Month, the San Francisco-based exchange also added support for cross-border wire transfers for institutional clients in Asia, and Europe. In addition, the exchange integrated TurboTax on its platform to allow its customers to claim crypto trades on their taxes.

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