As cryptocurrency exchanges strive to serve a broader market, a new feature in Coinbase Wallet allows you to transfer cryptocurrencies via links that can be sent through some of the most popular social media sites and messaging apps. .
In a blog post on December 5, Coinbase named apps such as iMessage, Telegram, WhatsApp, Facebook, Instagram, and TikTok. “Users can now send money on any platform where they can share a link,” he said.
There are no payment fees when sending USD Coin (USDC), a US dollar stablecoin Coinbase jointly launched in 2018 with issuer Circle.
Send money anywhere you can send a link.
Easily. soon. For free.
⤷ https://t.co/CKyLu1wYEw pic.twitter.com/XX9YaZZEPm
— Coinbase Wallet ️ (@CoinbaseWallet) December 5, 2023
Clicking on the link will take recipients to their device’s app store, where they can download Coinbase Wallet if they haven’t already, and create a wallet with one click, Coinbase noted.
If the funds are not claimed within two weeks, they will be returned to the sender.
Coinbase also created a “simple mode” for the wallet, showing only basic features like buying, sending, receiving, and viewing assets to help new and less knowledgeable technical users.
Related: How to Prepare for the Next Crypto Bull Market: 5 Simple Steps
Coinbase said this new feature aims to solve the complexities of international bank transfers. These transfers often involve high fees and paperwork, and they say the funds can take up to five business days to arrive.
According to Google Finance, Coinbase’s stock price is up more than 300% to $140 so far in 2023, but is still down 59% from its all-time high of $343 on November 12, 2021.
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