Coinbase has added a new function to its wallet: From now on, you can transfer the stablecoin USDC to others via a simple web link. The link can also be sent via social networks.
The wallet is certainly not the worst choice among software wallets, as private keys and seed phrases remain with you in this wallet. Anyone who uses Coinbase as their crypto exchange of choice will therefore usually also have the wallet installed. Coinbase now wants to make its wallet more attractive with a new function called “Send via Link”. An official blog post explains how this works:
Anyone who wants to initiate a transaction from their Coinbase wallet can now also select the “Send via Link” option there. A normal web link is then generated, which can be sent via any standard service from Facebook to SMS to TikTok or as an email. The recipient will then have the amount credited to their Coinbase wallet immediately when they click on the link. If they do not yet have a Coinbase wallet, they will first be directed to an uncomplicated installation and registration process. Most of you are probably already familiar with this principle from PayPal, Revolut or other financial service providers.
Read more about the new feature of the wallet and find the most important financial news of the day with the Born2Invest mobile app.
The exciting part is actually in the small print:
This is because Coinbase covers the fees for transactions via stablecoin USDC, according to support information also for Ethereum (ETH) and Polygon (MATIC). This really sets Coinbase Wallet “Send via Link” apart from other solutions.
USDC is the second most important global stablecoin, is pegged 1:1 to the US dollar and has proven to be reputable for years. Anyone who now uses Coinbase Wallet to send USDC internationally free of charge will not only save on bank fees. As Coinbase emphasizes: In more than 130 countries, the Coinbase Wallet supports fiat bridges to the respective national currencies, into which USDC can be exchanged without any problems.
Conclusion: Coinbase’s layer-2 strategy works for the wallet
Just a few days ago, Coinbase CEO Brian Armstrong announced the goal of making transactions in less than a second and for fees of less than 1 cent the standard. This is now a reality for the Coinbase wallet with USDC, MATIC and Ethereum.
Incidentally, Coinbase’s own layer 2 network Base is also used in the background, which avoids the otherwise high transaction fees for Ethereum in particular. For Coinbase, “Send via Link” should also be useful for acquiring new customers if the service proves popular.
DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.
This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.
First published in BLOCK-BUILDERS.DE. A third-party contributor translated and adapted the articles from the originals. In case of discrepancy, the originals will prevail.
Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us
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