Cryptocurrency exchange Coinbase has integrated a hot wallet and browser into its mobile app to access decentralized services.
To use the new service, you need to:
- Click on the Introducing dapps option in the app’s main menu;
- Create a crypto-purse;
- Select one of presented services.
Introducing dapps option in Coinbase application
DeFi based on the Ethereum (ETH) cryptocurrency blockchain can be opened using Coinbase software. For example, the decentralized exchange Uniswap or the credit platform Compound.
The new wallet developed by the exchange is custodial, but the seed phrase is stored by both Coinbase and the user of the application. The security of transactions is provided by a cryptographic protocol of confidential calculation, which guarantees the anonymity of participants of money transfers.
On May 4, Coinbase expanded its product line to include the NTF Marketplace, but so far the company has failed to attract the attention of lovers of non-interchangeable tokens. During the first time Coinbase NFT opened, traders completed just 150 transactions worth $75,000.