Coinbase Upgrades Wallet App to Simplify Crypto Transactions In A Bid to Boost Adoption
Coinbase exchange has announced an upgrade of its digital wallet in a bid to make crypto transactions much easier. According to a blog post on April 8, the firm intends to create an ecosystem where sending or receiving digital currencies will be initiated with only a few taps. This will be facilitated in over 100 countries supported by Coinbase as well as transfers to other crypto wallets.
Sending and receiving crypto has a fresh new look on Coinbase. Now you're just a few taps away from paying a friend, making a purchase, or transferring funds to any crypto wallet.https://t.co/Rmk0aAlQW5 pic.twitter.com/EvRWaezOXH
— Coinbase (@coinbase) April 7, 2020
The new changes were made on the platform’s interface and are set to improve three major front-end functions within Coinbase. They include discoverability, execution, and confidence while leveraging Coinbase for its crypto trading services.
With the new upgrade, Coinbase users can initiate a crypto transaction through the action button as long as they are operating anywhere on the app. The update will further facilitate quick and simple currency swaps giving an opportunity for new users to intuitively navigate the Coinbase ecosystem. Finally, the exchange cleaned up its visual design; this will allow more transparency and build confidence as users will better understand the underlying of their crypto transactions.
Following this milestone, Coinbase is optimistic that it will enhance its service delivery to realize an open financial ecosystem as envisioned. The blog reads,
“Along with helping you manage your crypto and earn rewards, we believe sending and receiving will be a critical element of the open financial system.
We are excited to make this service accessible to more customers on Coinbase.”
Coinbase's Recent Changes
This exchange has made a number of fundamental developments since the year began. Last month, Coinbase updated its address features to accommodate simple usernames such as @BEG instead of the normal complex string of characters.
Coinbase also introduced Bitcoin batching to free up space within its network and save on operational costs. This move was however criticized by some crypto stakeholders who noted that the exchange was late to game given its peers had integrated this feature two years earlier.
Another notable milestone is Coinbase Pro which was launched on android for advanced and pro traders. The San Francisco based crypto exchange is currently among the leading platforms in daily volumes traded globally.