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Coinbase is Bringing Crypto to Text Messages

December 7, 2023
x min read

Transferring crypto was once a difficult, technical task. But now Coinbase is making it as simple as sending a text message.

What’s happening:

  • Coinbase (NASDAQ: COIN) has unveiled a new feature through Coinbase Wallet that allows users to send crypto to anyone through a link
  • The link can be sent via iMessage, Telegram, WhatsApp and other popular messaging platforms globally

How it works:

  • Coinbase Wallet allows users to choose the amount of crypto they would like to transfer and then generate a unique link to send to the recipient
  • The recipient receives the link by text message, which will then prompt them to create their own Coinbase Wallet to be able to deposit the transfer
  • Once they have a Coinbase Wallet they will receive their crypto instantly and be able to seamlessly transact within the Coinbase platform

Why it matters:

  • Reducing the friction between sending and receiving crypto unlocks enormous potential for crypto being more widely adopted for payments and global money transfers

Going deeper:

By the numbers:

  • Coinbase Wallet is available in 20 languages and 170 countries
  • There are more than 130 fiat onramps that now work with Coinbase Wallet globally

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