Coinbase has just launched Coinbase Pay. Users can now easily fund their non-custodial Coinbase Wallets through this newly added feature.
Previously, users were required to sign into their Coinbase account, copy-paste their wallet address, and manually transfer funds from their Coinbase accounts. As well as being inefficient, the user was left vulnerable to errors and attacks.
Using Coinbase Pay
Adding crypto to the Coinbase Wallet extension is now as simple as selecting “Add Crypto with Coinbase Pay.”. The user must then select the currency they wish to store in their wallet. They must then specify the amount and confirm the transaction. Before receiving access to Coinbase Wallet, first-time users must link their self-custody wallet to their Coinbase account.
According to Coinbase representatives, “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. We will also continue to expand Coinbase Pay to bring the benefits of seamless fiat onramp to the crypto ecosystem.”
Coinbase Pay is currently only available to US and Canadian users. The company stated, however, that it is currently working on introducing the new feature to global users.
Coinbase NFT marketplace is being heavily hinted at in addition to Coinbase Pay. In preparation for this launch, Coinbase partnered with a number of leading NFT collections, including BAYC, CryptoKitties and CryptoPunks.