Coinbase Will Support Hardware Wallets

Taking a giant step toward a safer crypto world, Coinbase announced that, starting with Ledger, it will begin to support hardware wallets. Sometimes called “cold wallets,” experts agree that hardware wallets are the preferred way to store cryptocurrency and other blockchain-based digital assets. As you probably know, my MetaMask Chrome Extension Wallet was hacked last weekend. Had that crypto been in a hardware wallet, the hacker would not have been able to access it.

On Wednesday, in her testimony to the United States House Committee on Financial Services, Coinbase chief financial officer Alesia Haas claimed that “Coinbase stores about 12% of all crypto across more than 150 asset types.”

Important safety tip: If you decide to purchase a hardware wallet, your choices are Ledger, Trezor, or Gridplus. Go directly to the company website to make your purchase. Do not purchase a hardware wallet from a third-party vendor.

Author’s note: This is not a sponsored post. I am the author of this article and it expresses my own opinions. I am not, nor is my company, receiving compensation for it.

About Shelly Palmer

Shelly Palmer is the Professor of Advanced Media in Residence at Syracuse University’s S.I. Newhouse School of Public Communications and the CEO of The Palmer Group, a consulting practice that helps Fortune 500 companies with technology, media and marketing. Named LinkedIn’s “Top Voice in Technology,” he covers tech and business for Good Day New York, is a regular commentator on CNN and CNBC and writes a popular daily business blog. He’s the Co-Host of the award-winning podcast Techstream with Shelly Palmer & Seth Everett and his latest book, Blockchain - Cryptocurrency, NFTs & Smart Contracts: An executive guide to the world of decentralized finance, is an Amazon #1 Bestseller. Follow @shellypalmer or visit shellypalmer.com.

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