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Coinbase Cryptocurrency Wallet Provides Cloud Storage Private Key

Liang CHE

Summary: According to newsbtc.com, Coinbase, a well-known cryptocurrency exchange, has introduced a new feature for its independent digital asset wallet that will provide users with the ability to back up private keys using Google Drive or iCloud. Coinbase wants to provide users with a safety net in case they don't have access to the device that ...

According to newsbtc.com, Coinbase, a well-known cryptocurrency exchange, has introduced a new feature for its independent digital asset wallet that will provide users with the ability to back up private keys using Google Drive or iCloud. Coinbase wants to provide users with a safety net in case they don't have access to the device that installed the software, or inadvertently mishandled their private key. However, some in the cryptocurrency community emphasize that storing a private key on a cloud storage service may expose the user's funds to other threats.