Coinbase (NASDAQ: COIN) announced Coinbase Pay on Wednesday, making it simple for users to fund their Coinbase Wallets from the Chrome browser extension and explore web3.
Coinbase Pay will eliminate manual transfers and make it easier for anyone to participate in DeFi or purchase NFTs in just a few clicks as these services become more widely adopted worldwide.
Previously, adding funds to Coinbase Wallet was a time-consuming process, but with its new service, all users need to do is select “Add crypto with Coinbase Pay” when adding crypto to their Coinbase Wallet extension.
Previously, users who wanted to add funds to their Coinbase Wallet from the browser extension had to go to Coinbase.com, sign in to their account, copy-paste their wallet address, and manually transfer funds from their Coinbase account.
Then, all they have to do is choose the currency they want to add to their wallet, enter the amount, and confirm the transaction. With Coinbase Pay, there’s no need to switch between apps, copy-paste addresses, or manually transfer funds.
Coinbase users in the United States and Canada can currently transfer funds using their debit cards and bank accounts, with more payment options coming soon globally.
Before using Coinbase Pay, first-time Coinbase Wallet users must link their self-custody wallet to their Coinbase account. Furthermore, Coinbase Pay makes it even easier for users to become web3-ready by integrating Coinbase Wallet.
The Chrome browser can securely interact and engage with a wide range of web3 applications thanks to the Coinbase Wallet extension. Begin collecting NFTs, earn interest through DeFi lending protocols, and expand your crypto portfolio with hundreds of thousands of tokens supported by decentralized exchanges (DEXes).
Coinbase Pay streamlines, simplifies, and secures the process like never before.
Coinbase Wallet is a self-service wallet that offers software services under the Coinbase Wallet Terms of Service and Privacy Policy. Coinbase Wallet is distinct from Coinbase.com, and Coinbase Wallet private keys are stored directly by the user rather than by Coinbase. There may be fees. To use Coinbase Wallet, you do not need a Coinbase.com account.
