- Coinbase Wallet seeks to attract 1 billion users on-chain by solving user problems.
- The wallet offers gasless on-chain experience and multi-chain integrations.
Coinbase, a crypto exchange, has unveiled its smart wallet to consumers, along with other benefits, with the intention of smoothly onboarding new users. This follows other developments in the crypto sector that aim to improve compatibility, security, and speed.
Today, Coinbase finally announced their smart wallet, which is supposed to change the game for on-chain transactions by doing things like eliminating recovery phrases and more. Coinbase Wallet seeks to attract 1 billion users on-chain by solving problematic onboarding, network fees, and recovery phrases, according to the exchange.
Next Generation Wallet
With the gasless on-chain experience and multi-chain integrations offered by Coinbase’s smart wallet, customers will be able to make cheaper transactions.
The exchange stated:
“Until now, going on-chain has been slow, expensive, and hard, with separate wallet app installs and first-generation blockchains. Smart wallets, with their ease of use, paired with next-generation Layer 2 networks like Base, finally set the stage to bring many more people on-chain. Now, getting on-chain is easy, fast, and cheap.”
Many customers were interested in the gasless experience, and the exchange noted that developers may provide it by using paymaster integrations to sponsor consumer transactions. In addition to supporting passkeys, the wallet does away with the need for phrases altogether.
As an added bonus, smart wallets make it easy to purchase and sell NFTs and engage in other decentralized protocol activities with just a few clicks. The exchange will provide current customers with migration tools that enable smart wallets within the Coinbase Wallet app, according to the release.
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