America’s Coinbase Global Inc recently announced the introduction of a new feature named Coinbase Pay to its platform. The new feature allows users of Coinbase wallet to fund their wallets using chrome browser extensions in order to be able to explore the limitless world of the web3.
In the course of 2021, Decentralized Finance (DeFi), Non-Fungible Tokens (NFTs), and other related Web3 services witnessed massive adoption by various organizations. However, an integral part of the process for the new technology remains quite cumbersome.
To enjoy the numerous benefits of the Web3 era, users have to follow several multiple steps to fund their wallet, thereby being forced to navigate between apps and devices, and making manual transfers which is prone to error and can lead to loss of funds as money transferred to a wrong address is irrecoverable.
Coinbase, with the launch of Its new feature, is looking to solve this problem and simplify the transaction process. According to Surojit Chatterjee, the exchange platform’s users can now fund their Coinbase wallet easily and explore the web3 technology, and bypass the stress of manually transferring funds.
As opposed to the previous tasking process, with “a few clicks,” users of Coinbase can now choose the cryptocurrency of their choice, enter the amount and click ok to complete the transaction.
Meanwhile, those using the app for the first time will have to link their self custody wallet to their Coinbase account in order to enjoy this service to the fullest. In addition to simplifying the transaction process, users can also securely interact and connect with several web3 applications from their browser with the Coinbase Wallet extension.
True to its mission of increasing economic freedom in the world, Coinbase will continually incorporate new features into Coinbase wallet extension as well as expand Coinbase Pay to make it accessible and user-friendly. As a result, Coinbase will be making entry into the world of Web3.0 easier for a lot of users while helping them enjoy the benefits of a seamless fiat onramp to the crypto ecosystem.
Coinbase is a leading exchange platform without a physical headquarters. It is the largest crypto trading platform known in regards to volume in the United States.