The cryptocurrency exchange continues to test new ways to facilitate transactions more easily
A new feature offered by Coinbase Wallet allows users to transfer crypto via a link they can send through some of the most widespread social media and messaging apps as the exchange examines making its service available to a broader market. Recipients must first download a Coinbase Wallet to accept the funds, but Coinbase says it’s made the process simple for those who aren’t tech-savvy.
“Users can now send money on any platform that they can share a link,” Coinbase communicated in a December 5 blog post, quoting apps like Telegram, iMessage, Facebook, WhatsApp, TikTok and Instagram.
No fees are involved when users send USD Coin, a US dollar stablecoin issued by Coinbase and Circle, which launched in 2018. Clicking on the link provided takes recipients to the app store, where they can download Coinbase Wallet and make a crypto wallet in a single click, Coinbase says. Funds not claimed by recipients within two weeks will be repaid to the sender.
Coinbase also created a “simple mode” for the wallet to assist new and less tech-savvy customers, displaying basic functions like sending, receiving, buying and viewing available funds.
Coinbase says the new feature seeks to unravel intricacies with international bank wire transfers, which it argues usually come with costly fees and paperwork and sometimes take up to five business days to process.
According to Google Finance, Coinbase’s price per share has risen over 300% in 2023 to $140 but is still 59% lower than the all-time high of $343 set on November 12, 2021.
Editor at the Big Blind, is a rising star in gambling journalism with a decade of experience, focusing on clear and accessible communication for a diverse audience.
