U.S.-based cryptocurrency exchange Coinbase has rolled out a new downloadable Coinbase Wallet extension for Google Chrome users for instantly and securely accessing the decentralized apps (dapps) such as Uniswap and Compound as well as decentralized finance (DeFi) on their desktop. The new Wallet extension works with every Ethereum dapp.
Accessing these applications on desktop until now was a tedious process that required users to scan a QR code using their mobile phone each time they want to connect to a dapp.
With this roll out, Coinbase users can access and use these dapps on desktop with the Coinbase Wallet extension for Google Chrome browser. Coinbase noted that all activity conducted on desktop via the Wallet extension will stay in sync with the Coinbase Wallet mobile app.
The new extension allows for instant access to dapps on desktop after linking the Wallet account to the extension once. The user has to simply scan the QR code on the Wallet extension only for the first time to keep accessing a particular dapp as the account details are saved in the extension automatically.
This will enable one-click access to browse all dapps, including access to thousands of cryptocurrencies, trading on decentralized exchanges (DEXes), earning interest and collecting NFTs.
However, user confirmation on the Wallet mobile app is required for the transactions to be initiated directly via desktop as the Coinbase Wallet is non-custodial or user-controlled. Customers managing transactions with their Wallet mobile app will ensure high levels of security.
With the new extension, Wallet's private keys are encrypted using the secure enclave or keystore of your mobile device, where they are protected with biometric authentication or a PIN.
The Coinbase user can also link their Coinbase account to the Wallet and buy or transfer crypto to use in DeFi, without leaving the Wallet.
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