In a notice on the 29th of November, Coinbase, the largest US-based crypto exchange, stated that the wallet will no longer support Bitcoin Cash (BCH), XRP, Ethereum Classic (ETC), Stellar Lumens (XLM) as well as their networks.

According to the top crypto exchange, it decided to stop supporting these assets due to “low usage” and this decision will be effective from December 5, 2022.

“This does not mean your assets will be lost,” said the announcement. “Any unsupported asset that you hold will still be tied to your address(es) and accessible through your Coinbase Wallet recovery phrase.”

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The post Coinbase Wallet Will Stop Supporting BCH, XRP, ETC, and XLM from Jan. 23. Here’s why appeared first on Times Tabloid.

Solana has now joined a number of cryptocurrencies earlier supported by the Coinbase Wallet extension, including Ethereum (ETH), Polygon (MATIC), Avalanche, BNB Chain, among others.

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Although Coinbase Wallet now supports SOL and SPL tokens, users are still not allowed to manage Solana non-fungible tokens (NFTs) directly with the wallet.

It’s also worth noting that Solana tokens won’t be shown on the Coinbase Wallet mobile application. However, a Coinbase spokesperson told The Block that Coinbase Wallet looks to add Solana support for its mobile apps, but it currently has no specific timeline.

Coinbase Wallet also plans to let users interact with the Solana ecosystem in the future, including connecting to Solana decentralized applications and viewing and managing their Solana NFTs directly within the wallet extension.

Users can now transfer their tokens from an existing Solana wallet to a Coinbase wallet by inputting their confidential recovery phrase into the Coinbase wallet browser extension on setup.

Read Also: Morgan Stanley: Ethereum May Lose Market Share to Cheaper Competitors Such As Solana, Cardano, Polkadot

According to Coinbase senior product manager Adam Zadikoff in a release, “In the coming months, we’ll be adding support for Solana NFTs and the ability for you to connect your wallet to Solana dapps to interact with everything the Solana ecosystem has to offer.”

Coinbase Wallet is multi-chain, which means it supports several blockchains. It has over 13 million users across its mobile applications and Chrome browser extension. The wallet is MetaMask’s direct competitor.

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The post Coinbase Launches Crypto Wallet Support for Solana (SOL) appeared first on Times Tabloid.