Toshi, the cryptocurrency wallet that functions as a private and highly secure messaging app, a browser for Ethereum apps and a user-controlled Ethereum wallet, is now Coinbase Wallet.
According to a Medium blog post on August 15, 2018, by the Coinbase team, the move is aimed at making the decentralized web accessible to the global community.
The Toshi Evolution
Per the Coinbase team, the latest development is not just a change of name but a contribution to the blockchain revolution that is speedily shaping the world of finance and the future of the decentralized web, making them accessible to all.
The Coinbase team envision a world that everyone will be able to own multipurpose digital currency wallet that would enable them to be their bank while also being able to explore the decentralized web. The new Coinbase Wallet serves these purposes.
Features of Coinbase Wallet
It is noteworthy that out of the over 1600 cryptocurrencies currently on the market, more than 600 of these altcoins are ERC-20 tokens.
For the uninitiated, ERC20 tokens are cryptocurrencies built upon the Ethereum smart contracts blockchain. Some excellent examples of ERC20 tokens include BNB, the native crypto of Binance cryptocurrency exchange, OmiseGO (OMG), BAT (BAT), ICON (ICX), PowerLedger (POWR) and many others.
Now, all ERC-20 token holders have a secure and highly functional wallet to store all their ERC20 coins as the Coinbase Wallet currently supports all ERC-20 tokens.
Although the Coinbase Wallet is currently not compliant with Bitcoin and other cryptocurrencies, the team has however hinted that the wallet will soon start supporting bitcoin, bitcoin cash, and litecoin.
Even with the slump in the price of bitcoin and other crypto assets, initial coin offerings (ICOs) keep springing up every day and blockchain-based projects have not ceased giving token airdrops to community members.
With the Coinbase Wallet, ICO investors no longer need to worry about missing out on airdrops as the wallet supports ICO token airdrops.
Apart from the features mentioned above, the Coinbase Wallet also give users access to third-party decentralized applications (DApps), serves as a gateway to leading decentralized crypto exchanges (DEX), allows users to send payments to anyone anywhere in the world seamlessly without fees.
That’s not all, lovers of crypto collectibles are not left out.
Coinbase Wallet presents an excellent option for fans of non-fungible, unique tokens like CryptoKitties to buy and store their crypto collectibles.
