Coinbase Wallet Users Can Back Up Encrypted Keys On Google Drive And ICloud
Users of Coinbase Wallet can now back up their private keys on Google Drive or iCloud, according to an official announcement on Feb. 12.In the statement, Coinbase states that allowing users to upload their keys to a cloud provides a safeguard against lost keys, will will help them avoid losing funds should the keys be misplaced.
“The private keys generated and stored on your mobile device are the only way to access your funds on the blockchain. Owners of ‘user-controlled wallets’ like Coinbase Wallet sometimes lose their devices or fail to backup their 12 word recovery phrase in a safe place, thus losing their funds forever.”
Now, users of Coinbase Wallet can store an encrypted copy of the recovery phrase on their cloud accounts.
The backup is purportedly encrypted with AES-256-GCM encryption, which is only accessible through the Wallet mobile app.
Coinbase notes that, in addition to Google Drive and iCloud, they will expand support to other clouds in the future.
Aaron Wood’s original article for cointelegraph.com reduced by 53%
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