Home CryptoCurrency News Ethereum Localethereum adds support for external wallets

Ethereum [ETH] Localethereum adds support for external wallets

Ethereum trading platform localethereum, has recently announced an update to its infrastructure that will enable the use of external wallets, as an alternative to the login and use of the website.

“You can now connect your favourite wallet to localethereum instead of using a username and password combination,” reads the publication in its official blog.

This way, users can link their localethereum account to their favorite ethereum wallet to complete their operations without the need for the built-in web wallet provided by the company.

How it works localethereum

According to the post, the option is available both for new users and those already registered. In the first case, at the moment of signing up, they will be greeted with a screen where they can choose creating an account in the traditional way (that is, using a username and password combination), or linking an external ethereum wallet to their account for login in.

The interesting fact of this new modality is that all operations in need of interacting with the escrow smart contract will require the user to sign a message from their wallet. This means that a signature request is sent to such wallet to be approved by the user.

Most popular ethereum wallets

However, this will also be the case for tasks regarding the escrow that were simple otherwise, such as marking a trade as paid, or releasing the funds from the smart contract. The reason behind this is that these actions are all instructions to be executed by the escrow, according to localethereum.

“Escrow instructions have always required signed messages, however with the built-in web wallet they only need one click.”

When asked about a way to simplify these tasks again without losing the new functionality, the Co-Founder of Ethereum, Michael, responded that there could be a way, but it will take quite some time to implement, so there is the possibility of a quicker, more seamless experience with this new mode that could come in the future.

Ethereum Wallets [ETH] supported

The new feature enables users to connect the most popular ethereum wallets to date, such as imToken, MetaMask, Trust Wallet, and Coinbase Wallet. In addition, it is also compatible with Ledger, a hardware crypto wallet.

They have also plans for supporting other types of crypto wallets, via the implementation of protocols such as WalletConnect, which will enable to link mobile-based wallets.

There is even an option (not yet available) to connect with a Trezor wallet, so the portfolio will be expanded notably when they become accessible.

Which one to choose

Despite the innovation, the platform recommends those who are new to the Ethereum ecosystem to stick to the old method of username and password, not only because it is widely known, but also for the simplicity and ease of use. If they wish to change to an external wallet account, they can do so via their account settings.

Carlos Teodoro
Cryptocurrency enthusiast and everything they represent, Carlos is responsible for writing articles, creating images and belongs to the Crypto Economy team since 2017. He is also in charge of the commercial department, social networks and the revision of translations. Carlos continues to train every day to become an expert in the blockchain.
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