Exchange of cryptocurrencies Coinbase is launching a new tool called Coinbase Pay that is designed to streamline the process of adding cryptocurrency to your wallet.
Coinbase Pay is accessible via the Coinbase Wallet extension for Google Chrome, as detailed on Coinbase’s website. If this is your first time using the plugin, you’ll need to connect your wallet to your Coinbase account. After that, you can fund your account by clicking the “Add crypto using Coinbase Pay” option. From there, you may choose the currency to add to your wallet, input the amount, and complete the transaction. Your cash will then be available.
Previously, the only way to add crypto to your Coinbase wallet was to log into the Coinbase website, purchase crypto, and then input your wallet address to transfer the funds. This new tool avoids the chance of entering your address incorrectly and accidentally sending it to another address — not to mention that it appears to be a whole lot more easy.
Coinbase has been working to make cryptocurrencies and NFTs more accessible to the general public, and earlier this year began accepting Mastercard payments for NFTs. Other firms have also attempted to appeal to crypto beginners, with password manager 1Password simplifying the process of storing wallet information (which newcomers frequently struggle with) and introducing support for the Solana wallet, Phantom.
