U.S.-based cryptocurrency exchange Coinbase rolls out Coinbase Pay to enable its users to smoothly fund their Coinbase Wallet from the Chrome browser extension. This will do away with the cumbersome process that involves multiple steps, switching between apps, and manual transfers.
Previously, Coinbase users who wanted to add funds to their Coinbase Wallet from the browser extension needed to navigate to Coinbase.com, sign in to their account, copy-paste their wallet address, and manually transfer funds from their Coinbase account.
This process was cumbersome and also left the user vulnerable to user errors as funds transferred wrongly to a different wallet address would be irretrievable.
Under Coinbase Pay, the user just has to select "Add crypto with Coinbase Pay" and add crypto to their Coinbase Wallet extension. Then the user has to simply select the currency they want to add, specify the amount and confirm the transaction.
The user does not have to switch between apps, copy-paste addresses, and manually transferring funds.
The users in the US and Canada can now use their debit cards and bank accounts for transfers. Coinbase is also set to enable more payment options globally soon.
Last month, Coinbase also added support for Ledger hardware wallets to Coinbase Wallet extension to provide an additional layer of security for its users. It partnered with Ledger to release the Nano X Coinbase Edition. The hardware wallets are physical devices that store the private keys to the users' crypto wallet offline.
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