Coinbase has updated its wallet with a new feature that allows users to send cryptocurrencies through usernames attached to wallets. This function eliminates the need to use the usually lengthy cryptocurrencies addresses.
Coinbase made an announcement about this new feature on Feb. 25 stating that it will provide its users with dedicated usernames linked to each wallet. Users will have the choice between obtaining Coinbase’s proprietary usernames or ones created through the Ethereum Name Service (ENS). These two options differ slightly with Coinbase’s appearing like @username while those from ENS look like URLs such as username.eth. Their functionality however remains the same as they act as a link to a particular Coinbase wallet.
Coinbase hopes that this new service will provide a solution to a longstanding issue that its customers have often complained about. According to the crypto company, their customers have repeatedly expressed displeasure with how cumbersome it is dealing with long and nonsensical addresses. Their customers are usually afraid of losing their funds by sending crypto to the wrong address especially if they copy and paste them incorrectly. Now, this worry should be a thing of the past as people can easily read, remember, copy, and paste the more logical usernames while sending funds. The new service should at least provide the assurance that funds are sent to the correct address according to Coinbase
Human-readable addresses help fix these problems. There are now services that let you associate a short human-readable name with your crypto addresses. […] We believe these improvements will make cryptocurrency much easier to use and help drive adoption with a more mainstream audience.
This announcement follows in a series of positive developments for Coinbase as the company seeks to simplify the process of sending and receiving crypto. The company previously received a patent that enables its users to send Bitcoin through email. The services enables users to request payments via email with the system automatically sending Bitcoin to the address linked to the email account.
Just recently, Coinbase became the first crypto-related company to be approved as a principal member by Visa.
These events and inventions by Coinbase are geared to providing easy access to cryptocurrencies not only to its users but also help in bringing crypto to the mainstream markets. They also enable the company broaden its reach by tapping into the conventional investor markets that lack sufficient blockchain knowhow.
Coinbase continues to lead the way for crypto companies in bringing crypto to the masses through such new inventions that significantly ease the processes of sending and receiving crypto.
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