Coinbase allows wallet users to send crypto via social media apps
Coinbase CEO Brian Armstrong’s crypto exchange is moving to simplify digital asset transactions and expand availability to several regions with three new features for Coinbase Wallet users.
Coinbase Wallet now offers the option to transfer cryptocurrencies with a link sent via popular messaging platforms like WhatsApp, Telegram, iMessage, Snapchat, TikTok, and email, among others, as part of its strategy to propel mass adoption and easy payments.
When your recipient clicks the shared link, it’ll take them into the Coinbase Wallet app to claim or direct them to download the Coinbase Wallet app on iOS or Android and create a new wallet in just 1 click.
Coinbase announcement
The funds can be claimed within 12 days, after which Coinbase automatically refunds the sender. According to America’s largest domestic crypto exchange, there are no fees, and settlement is instant.
Coinbase Wallet has supported fiat onramps in 130 countries to bolster liquidity and access. Per a Dec. 5 announcement, the company onboarded cash payment methods in regions like Brazil, Nigeria, and the Philippines.
The crypto exchange also shipped a new simple mode for its Wallet app that streamlines usability to essential features such as crypto swaps and digital asset storage.
These updates reflect our commitment to making money transfers easier, cheaper, faster, and borderless. By reducing complexity and fees while expanding global access, we’re enabling millions of people to engage with the crypto economy in meaningful ways.
Coinbase announcement
The three-pronged approach by Coinbase was unveiled a day after Armstrong said he foresees a “long-term coexistence of fiat and crypto”. Additionally, Coinbase has called on U.S. policymakers to provide clear stablecoin regulations, noting that cash is fast becoming outdated.
As crypto.news reported, Coinbase ranks among the top spenders for crypto lobbying in 2023 as companies are on course to overshadow financial resources directed toward advocating for digital asset policies in America throughout 2024.
