Coinbase Patents Protected BTC Deposit Option

  • Yuri Molchan
    📰 News

    Users will be able to deposit and take out BTC directly from their electronic wallets. The currently used payment services do not secure users’ private keys


Coinbase Patents Protected BTC Deposit Option

The new patent filed by the US crypto trader Coinbase says its users will be able to deposit and take out Bitcoins directly from their electronic wallets. The currently used payment services do not secure users’ private keys.

The new system offered by Coinbase assumes the use of a master key that encrypts private keys and for signing transactions. In case there is any doubt as to the personality of the user, the system can halt the transaction.

The new system also has an API key. This enables other sites to set up their apps based on this service.

Cover image via u.today
The fastest way to get crypto news is to follow our Twitter. You won’t miss a thing! Subscribe.

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

👓 Recommended articles

This site uses cookies for different purposes. Please set your preferences in Cookie Settings and visit our Cookie policy for more information on how and why cookies are used on this site. Click here for cookie policy

Cookie settings