Coinbase Wallet users now can send cryptocurrencies by generating a link that can be sent via social platforms, messengers, or email.
Coinbase Wallet app has been updated. The new functionality allows users to transfer digital assets via popular social media and messengers by generating a link.
According to Chintan Turakhia, Head of Engineering at Coinbase Wallet, the initiative is aimed at enabling users worldwide to access easier, faster, and cheaper crypto transactions.
The process of sending cryptocurrencies through Coinbase Wallet can now be accomplished in several simple steps:
- The sender selects the currency and the amount to send and generates a link. Once the link is created, the specified amount of coins is automatically blocked on the sender’s balance.
- The generated link can be sent directly from the cryptocurrency wallet app or copied and sent via messenger, email, or social network.
- The recipient clicks on the link and goes to the Coinbase Wallet app or to the app store of their device, where they can download the crypto wallet, if it’s not installed yet. After clicking on the link, the funds will be automatically transferred to the recipient’s account.
The developers have also included a function for automatic return of funds to the sender in case the recipient doesn’t click on the link within two weeks.
You can share the link generated in Coinbase Wallet via:
- popular messengers: WhatsApp, iMessage, and Telegram;
- social media platforms: Facebook, Snapchat, TikTok, and Instagram;
- email.
To encourage Coinbase Wallet users, the company states that sending USD Coin via link generation will be completely free of charge, meaning there’ll be no commissions charged for USDC transfers.
It’s worth noting that Coinbase keeps actively growing and expanding its presence in Europe, despite regulatory pressure from the United States. In March 2023, the exchange received strange legal threats from the SEC. Litigation against Coinbase began in June. The lawyers of the crypto exchange demanded to terminate the process, citing the regulator’s abuse of power. They were supported by the representatives of the crypto exchange Bittrex.
