Send Money Anywhere with Coinbase’s New Service
U.S.-based crypto exchange Coinbase has launched a new service that allows you to send money to others through popular communication platforms at no cost. Whether you’re using messaging apps like WhatsApp, iMessage, and Telegram, social media platforms like Facebook, Snapchat, TikTok, and Instagram, or even email, Coinbase has made it easy for you to share money using a link.
This service is not limited to local transfers; you can send money to people in other countries as well. The settlement of transfers is instant and free of charge.
To use this service, both the sender and receiver must have the Coinbase Wallet. If someone receives a link but doesn’t have the digital wallet, they will be directed to download it from the Apple or Android app stores. If funds are sent but not retrieved within two weeks, they will be automatically returned to the sender.
Coinbase Wallet is available in over 170 countries.
Coinbase Aims for Adoption
Coinbase’s new offering comes at a time when cryptocurrency prices are rallying. Bitcoin, the largest digital asset by market capitalization, recently surpassed $44,000 with a 30-day increase of over 25%.
The company’s share price has also been performing well as its battles with the Securities and Exchange Commission have eased. Additionally, major traditional finance players like BlackRock are hoping for approval of their application for a spot bitcoin ETF.
According to TradingView, Coinbase shares are up nearly 290% this year. As of Tuesday afternoon, they were trading at $141.46.
Hot Take: Coinbase Expands Reach with Free Money Transfers
Coinbase’s latest service allowing users to send money through popular communication platforms is a strategic move to incentivize the adoption of its digital wallet. By enabling instant and free transfers to individuals in different countries, Coinbase aims to attract more users to its platform. This initiative aligns with the ongoing rally in cryptocurrency prices, particularly Bitcoin, which has experienced significant growth recently. As Coinbase continues to navigate regulatory challenges and traditional finance players express interest in cryptocurrencies, the company’s share price remains strong. With its user-friendly and accessible features, Coinbase is positioning itself as a leading player in the crypto exchange market.
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