Coinbase allows users to fund wallets from Chrome extensions

Coinbase launched a new feature called “Coinbase Pay” on Wednesday that allows its clients to fund Coinbase wallets directly from Chrome extensions.

Cumbersome system and Chrome extensions

According to its employees, Coinbase Pay intends to allow everyone to intuitively participate in decentralized financing (or DeFi), exchange tokens on decentralized exchanges (or DEX), and purchase non-fungible tokens (or NFT) in a few clicks. Specifically, they wrote:

“Before Coinbase Pay, users who wanted to add funds to their Coinbase wallet from a browser extension had to go to Coinbase.com, log in to their account, copy and paste their wallet address, and manually transfer funds from their Coinbase account. This process was not only cumbersome, but also left usage prone to user error. ”

Simplification

In Coinbase Pay, all you need to do in Chrome is select the currency the user wants to add to their wallet, enter the amount, and confirm the transaction.

“No more switching between applications, copying addresses and manual resource transfers,”

– written by Coinbase employees.

According to the company, users do not need a Coinbase.com account to use the Coinbase Wallet. However, before using Coinbase Pay as a fiat to crypto transfer service, they would need to link their wallet for custody to their Coinbase account. Although it comes from a centralized exchange, private keys within the extension are stored by the user, not by Coinbase.

Last month, the Coinbase wallet enabled support for the Ledger hardware wallet. By the end of last year, the exchange had grown to 12% of all cryptocurrencies in more than 150 types of assets. The company also plans to launch its own NFT marketplace. At the time of publication, 3.86 million e-mail addresses are currently registered on the Coinbase NFT waiting list.

This extension has come in handy for many people. Google Chrome is quite widespread, so it’s sure that this system will find a lot of fans.