Coinbase Wallet Adds Support for Dogecoin (DOGE)

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San Francisco-based Coinbase announced on Wednesday that the Coinbase Wallet, its Ethereum-based wallet, will now support Dogecoin (DOGE).

Coinbase wallet demo (Coinbase)

According to the announcement, the new wallet update with DOGE support will roll out to all users on iOS and Android over the next week.

“Our goal with Coinbase Wallet is to create the world’s leading user-custodied crypto wallet,” states Coinbase’s Siddharth Coelho-Prabhu. “Coinbase Wallet already supports Bitcoin, Ethereum, Bitcoin Cash, Ethereum Classic, XRP, Stellar Lumens, and over 100,000 different ERC20 tokens and ERC721 collectibles built on Ethereum. Adding support for DOGE is an important next step toward our goal.”

Coinbase previously announced that users of the Coinbase Wallet can now store encrypted private keys on personal cloud storage accounts, using either Google Drive or iCloud. Through this system, private keys are encrypted with AES-256-GCM encryption and accessible only by the Coinbase Wallet mobile app with a password. Of course, this has been criticized as a highly insecure form of storage.

DOGE is currently up 0.05% on the day to $0.002531, giving the 26th-largest coin in the AltDex 100 Index (ALT100) a $300.9 million market cap.

More: Announcing Dogecoin (DOGE) Support on Coinbase Wallet

Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.

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