Coinbase CEO Introduces Wallet Modifications for Payments
The CEO of Coinbase, Brian Armstrong, has announced updates to the Coinbase wallet app that prioritize payments. These modifications aim to simplify the process of money transfers and eliminate complexities associated with traditional banking.
In a recent tweet, Armstrong highlighted the “simple mode” feature that allows users to send USD Coin (USDC) on Base for free, instantly, and globally. He also mentioned that this mode will be tested as the default option in frontier markets to facilitate easier onboarding.
Improving User Experience for Wider Crypto Adoption
Enhancing user experience (UX) is crucial for accelerating crypto adoption. However, understanding cryptographic algorithms, wallets, keys, and fees can be challenging for users.
A report by Hubspot revealed that 88% of users are less likely to return to a site with bad UX. To address this, Coinbase aims to simplify its user interface by focusing on essential functions like buying, sending, receiving, and storing digital assets.
Coinbase Adds Seamless (SEAM) Support
Coinbase has also announced support for the Base lending protocol Seamless (SEAM). This ERC-20 token will be available for trading on Coinbase and Coinbase Exchange in supported regions.
Following the integration, SEAM becomes the only native token traded on Coinbase’s Base network. The token’s total value locked (TVL) has surged to nearly $55 million since the announcement.
Hot Take: Simplifying Payments and Enhancing UX
Coinbase’s wallet modifications focusing on payments and improved user experience demonstrate the company’s commitment to simplifying crypto transactions. By streamlining processes and eliminating complexities, Coinbase aims to make it easier for beginners to dive into crypto.
Additionally, the support for Seamless (SEAM) on the Base network further expands Coinbase’s offerings and strengthens its position in the market. These developments are essential for wider crypto adoption and attracting new users to the space.
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