A New Feature for Coinbase Wallet Allows for Crypto Transfers Through Links
Coinbase Wallet has introduced a new feature that enables the transfer of cryptocurrency through a link. This link can be shared on popular social media platforms and messaging apps, making it easier for a wider market to access Coinbase’s services. According to Coinbase, users can now send money on platforms like iMessage, Telegram, WhatsApp, Facebook, Instagram, and TikTok by simply sharing a link.
No Payment Fee for USD Coin (USDC) Transfers
When sending USD Coin (USDC), a stablecoin backed by the U.S. dollar that Coinbase launched in 2018, there is no payment fee involved. This makes it even more convenient for users to transfer funds without incurring any additional costs.
Downloading Coinbase Wallet via the Link
If someone receives the link and does not have Coinbase Wallet already downloaded on their device, clicking the link will direct them to their device’s app store where they can easily download and install Coinbase Wallet. Creating a wallet is just one click away.
Automatic Return of Unclaimed Funds
If the recipient does not claim the transferred funds within two weeks, the funds will be automatically returned to the sender. This ensures that the sender does not lose their money if it is not claimed in a timely manner.
A “Simple Mode” for New Users
Coinbase has also introduced a “simple mode” feature in its wallet to assist new and less tech-savvy users. This mode provides an interface that only displays basic functions such as buying, sending, receiving, and viewing assets. It simplifies the user experience and makes it more accessible for beginners.
Solving Complexities with International Bank Wire Transfers
Coinbase aims to address the complexities associated with international bank wire transfers through this new feature. Such transfers often involve significant fees, paperwork, and a lengthy processing time of up to five business days. By utilizing the link-based transfer method, Coinbase seeks to provide a faster and more cost-effective solution.
Despite experiencing a decline from its all-time high on November 12, 2021, Coinbase’s share price has still increased by over 300% in 2023. Currently valued at $140, Coinbase’s shares have shown resilience and ongoing growth in the market.
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