Coinbase Wallet aims to attract 1 billion users to on-chain transactions by addressing user issues. The wallet offers a gasless on-chain experience and supports multiple blockchain integrations.
Coinbase, a prominent cryptocurrency exchange, has introduced its smart wallet to users, promising a seamless onboarding process for new customers. This move reflects the ongoing efforts in the cryptocurrency industry to enhance compatibility, security, and transaction speed.
The release of Coinbase’s smart wallet marks a significant milestone in on-chain transactions, as it eliminates the need for recovery phrases and streamlines the user experience.
By focusing on solving issues related to onboarding, network fees, and recovery phrases, Coinbase Wallet is positioned to attract a large user base. The exchange envisions a future where 1 billion users engage in on-chain transactions using their platform.
The gasless on-chain experience and support for multiple blockchains offered by Coinbase’s smart wallet enable customers to conduct transactions at a lower cost. Developers can leverage paymaster integrations to sponsor user transactions and provide a gasless experience. Additionally, the wallet eliminates the need for recovery phrases, simplifying the user experience.
In addition to facilitating transactions, smart wallets make it easy for users to buy and sell NFTs and participate in decentralized protocol activities with minimal effort. Coinbase will provide migration tools to current customers, allowing them to transition to smart wallets within the Coinbase Wallet app.
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