Coinbase has officially launched its new “smart wallet” to improve the user experience for its customers.
““This next-generation wallet solves the biggest pain points of today’s cryptocurrency experience, including complex onboarding, network fees, and recovery phrases, making the transition to on-chain smoother than ever,” the company said in a statement.
The US-based exchange initially announced the new wallet on EthDenver in February.
Coinbase designed its new smart wallet with the idea of making the onboarding experience easier. The company said new users can now create a wallet with ‘Face ID, Google Chrome profile, fingerprint, Yubikey’ without a recovery phrase.
The company has also tried to address users’ concerns about not having enough funds available. “Use a self-managed wallet balance or coinbase Coinbase said in its announcement that it has secured account balance while preventing ‘insufficient balance’ errors.
Gas-free transactions will also be possible, according to the statement. “Developers can sponsor transactions through Paymaster integration,” Coinbase said.
Coinbase’s wallet supports eight networks, including Base, Ethereum, Optimism, Arbitrum, Polygon, Avalanche, BNB, and Zora. The company said it plans to add more.
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RT Watson is a senior reporter at The Block, covering a variety of topics including US-based companies, blockchain games, NFTs, and more. He previously covered entertainment for The Wall Street Journal and has covered companies including Disney, Netflix, and Warner Bros. and the creator economy, with a primary focus on technological innovation across media. Previously, she covered corporate, economic and political news in Brazil at Bloomberg. She interviewed a wide range of figures for RT, including CEOs, media moguls, top influencers, politicians, blue-collar workers, drug traffickers, and convicted criminals. She holds a Master’s degree in Digital Sociology.