Cryptocurrency exchange, Coinbase Global, is striving to innovate and provide more flexibility in how its users can add funds to their wallets. Coinbase Pay is a new feature that allows users to fund their Coinbase Wallet directly from the Chrome browser extension.
Until recently, users who wanted to fund their self-custody wallets to participate in DeFi or NFTs had to manually transfer funds from their Coinbase account. This involved logging into a Coinbase account and manually entering wallet address details, which left room for error and potentially sending it to another address as a result
And now, when adding cryptocurrency to their wallet extension, users can now select “Add Crypto with Coinbase Pay.” Then they choose the currency to be added to their wallet, enter the amount, and confirm the transaction – which seems a lot more convenient.
“No more switching between apps, copy-pasting addresses and manually transferring funds,” read the Coinbase blog, “With the Coinbase Wallet extension, your Chrome browser can securely interact and engage with all manner of web3 applications.”
Transfers can be made using debit cards and bank accounts for Coinbase users in the United States and Canada. More payment options will be available globally in the near future.
Users will not need a Coinbase account to use Coinbase Wallet, but first-time users will need to link their self-custody wallet to their Coinbase account before they can use Coinbase Pay. your payment credentials will be stored safely with Coinbase and your Wallet private keys will remain with you.
Prakash Hariramani, senior director of product management, and Bipul Sinha, senior product manager wrote, “We are continuing to build new features into Coinbase Wallet to make it the most user-friendly and accessible self-custody wallet in the world, making it easier for more users to enter the world of web3.”
Coinbase is also expected to launch an NFT marketplace soon as it teased the Twitter users by stating that it has met with over 100 creators to plan the launch.