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Coinbase Wallet users can now send cryptocurrencies by generating a shareable link that can be distributed via social platforms, messaging apps, or email.
The Coinbase Wallet application has received an update introducing new functionality that allows users to transfer digital assets through popular social media and messaging platforms by generating a unique link.
According to Chintan Turakhia, Head of Engineering at Coinbase Wallet, this initiative aims to provide users worldwide with easier, faster, and more cost-effective cryptocurrency transactions.
The process of sending cryptocurrencies through Coinbase Wallet now involves several simple steps:
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- The sender selects the currency and amount to send, then generates a link. Once the link is created, the specified amount of coins is automatically held in the sender’s balance.
- The generated link can be sent directly from the cryptocurrency wallet app or copied and shared via a messenger, email, or social network.
- The recipient clicks the link and is directed to the Coinbase Wallet app or the device’s app store, where they can download the crypto wallet if it is not already installed. Upon clicking the link, the funds are automatically transferred to the recipient’s account.
Developers have also included a feature for the automatic return of funds to the sender if the recipient does not click on the link within two weeks.
The link generated in Coinbase Wallet can be shared via:
- Popular messengers: WhatsApp, iMessage, and Telegram;
- Social media platforms: Facebook, Snapchat, TikTok, and Instagram;
- Email.
To encourage adoption among Coinbase Wallet users, the company announced that sending USD Coin (USDC) via link generation will be completely free, meaning no commissions will be charged for USDC transfers.
It is worth noting that Coinbase continues to actively grow and expand its presence in Europe, despite regulatory pressures in the United States. In March 2023, the exchange received unusual legal threats from the Securities and Exchange Commission (SEC). Litigation against Coinbase began in June, with the exchange’s lawyers demanding the termination of the process, citing the regulator’s abuse of power. They were supported by representatives from the crypto exchange Bittrex.
