Coinbase enables users to fund wallets from Chrome browser extension

Coinbase enables users to fund wallets from Chrome browser

On Wednesday, Coinbase launched a new feature, dubbed “Coinbase Pay,” that enables its clients to fund their Coinbase Wallets directly from a Chrome browser extension. According to its staff, Coinbase Pay intends to make it intuitive for anyone to participate in decentralized finance, or DeFi, swap tokens on decentralized exchanges, or DEXs, and purchase nonfungible tokens, or NFTs, in just a few clicks. Specifically, they wrote: “Before Coinbase Pay, users who wanted to add funds to their Coinbase Wallet from the browser extension needed to navigate to Coinbase.com, sign in to their account, copy-paste their wallet address, and manually transfer funds from their Coinbase account. The process was not only cumbersome, but also left the user vulnerable to user error.” With Coinbase Pay, all one has to do is go to Chrome, select the currency to add to their wallet, enter the amount, and confirm the transaction. Coinbase’s staff noted, “No more hopping between applications, copy-pasting addresses, or manually transferring funds.” Coinbase Wallet does not require a Coinbase.com account, according to the business. Before using Coinbase Pay as a fiat-to-crypto on-ramp service, they must first link their self-custody wallet to their Coinbase account. Despite the fact that the extension comes from a centralized exchange, the user’s private keys are saved within the extension, not by Coinbase. Last month, the Coinbase wallet enabled support for the Ledger hardware wallet. By the end of last year, the exchange had grown to store 12% of all crypto across more than 150 asset types. The company also has plans to launch its own NFT marketplace. At the time of publication, there are currently 3.86 million email addresses recorded on the Coinbase NFT waitlist.