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:
- Coinbase has been rolling out numerous new features for users, including the notable launch of their very own blockchain
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
