According to some leaked screenshots online, Microsoft is currently testing a built-in crypto wallet in its Edge browser.
What is a crypto wallet?
A crypto wallet is a software application that allows users to store, send, and receive cryptocurrencies such as Bitcoin, Ethereum, and others. A crypto wallet also lets users interact with decentralized applications (DApps) that run on blockchain networks.
A crypto wallet can be either custodial or non-custodial. A custodial wallet is one where a third-party service provider holds the user’s private keys and manages their funds. A non-custodial wallet is one where the user has sole control over their private keys and funds.
Why is Microsoft Edge adding a crypto wallet?
According to Microsoft’s description of the feature, the Edge crypto wallet has “simplified experiences that make Web3 easier to interact with” and “integrated security features to protect you from unsecure addresses or apps.”
The Edge crypto wallet will also support collecting and storing non-fungible tokens (NFTs), which are unique digital assets that represent anything from art to music to sports memorabilia.
How does the Edge crypto wallet work?
The Edge crypto wallet is embedded in the browser, meaning users do not need to install any extension or download any app. The wallet is also non-custodial, meaning users have sole ownership of and responsibility for their passwords and recovery keys.
The Edge crypto wallet will allow users to purchase cryptocurrencies from Coinbase and MoonPay, two popular platforms that offer fiat-to-crypto conversion services. Users will also be able to connect DApps to their wallets using standard protocols such as WalletConnect.
The Edge crypto wallet will support multiple types of cryptocurrencies, although it is not clear which ones are currently available. However, leaked screenshots suggest that Ethereum, DAI, USDC, and USDT are at least supported.
When will the Edge crypto wallet be available?
The Edge crypto wallet is still in testing mode and has not been officially announced by Microsoft.
It is unclear when or if Microsoft will release the Edge crypto wallet to the public. However, given the growing popularity of cryptocurrencies and NFTs among consumers and investors alike, it seems likely that Microsoft will want to capitalize on this trend sooner rather than later.
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