Yesterday, top crypto exchange Coinbase announced that they have included support for Dogecoin (DOGE) to their “Coinbase Wallet” for iOS and Android apps.
The difference between Coinbase.com and Coinbase Wallet is further explained by the company in the site’s FAQ:
“Coinbase.com a.k.a Coinbase Consumer is a digital currency brokerage – you use it to buy or sell cryptocurrency in exchange for fiat currency (i.e. USD or your local currency). Coinbase Consumer can also act as a custodian, storing your digital currency for you after you purchase it. Coinbase Consumer is available in 32 countries.
Wallet is a user-custodied digital currency wallet and DApp browser. This means that with Wallet, the private keys (that represent ownership of the cryptocurrency) are stored directly on your device and not with a centralized exchange like Coinbase Consumer. You do not need a Coinbase Consumer account to use Wallet and you can download Wallet from anywhere in the world.”
“Coinbase Wallet is a software product that gives you access to a wide spectrum of decentralized innovation – buy and store ERC-20 tokens, participate in airdrops and ICOs, collect rare digital art and other collectibles, browse decentralized apps (DApps), shop at stores that accept cryptocurrency, and send crypto to anyone around the world.”
The Coinbase Wallet mobile app only allowed users to store Ethereum (ETH) and Ethereum tokens (ERC20 and ERC721) when it was first released. But later in 2018, support was added for Ethereum Classic (ETC), Bitcoin (BTC), and Bitcoin Cash (BCH). In 2019, the listing was further expanded with the addition of Litecoin (LTC), XRP, and Stellar Lumen (XLM) (which was added on April 1).
Just one month later after XLM support had been integrated, Siddharth Coelho-Prabhu, Coinbase Wallet Product Lead, posted in the official blog that the “new Wallet update with DOGE support will roll out to all users on iOS and Android over the next week.” The new update now allows users to store and send Dogecoin (DOGE) to and from the Coinbase Wallet app.
In order to find and activate your DOGE wallet within the Coinbase Wallet app, you have to click on the ‘Receive’ tab featured in the main wallet menu and select DOGE from the list.
The Coinbase Wallet also features support for the DOGE Testnet which enables developers to test out their dapps based on the coin. Switching to testnet mode can be done by going to the Advanced Settings section of the Settings tab.
The current trading price of DOGE is of $0.002564 USD, with an increase of 2.72% in the past 24-hour period.
Featured Image: Cryptonewsmonitor
