Coinbase launches “Coinbase Pay” to enable users fund their wallets from the Chrome browser extension

Coinbase launched a new service called “Coinbase Pay”, which allows users to fund their Coinbase Wallets straight through a Chrome browser extension. This feature is particularly favourable for American and Canadian Coinbase users, who can use their debit cards for transfers.
Coinbase launches Coinbase Pay to enable users fund their wallets from the Chrome browser extension

Coinbase Pay aims to make it simple for anybody to engage in decentralized finance, or DeFi, trade tokens on decentralized exchanges, or DEXs, and buy nonfungible tokens, with just a few clicks, according to the company’s team. They wrote, in particular:

“Before Coinbase Pay, users who wanted to add funds to their Coinbase Wallet from the browser extension needed to navigate to, 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.”

About the Coinbase Pay feature

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 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.

The Coinbase wallet added support for the Ledger hardware wallet last month. By the end of last year, the exchange had expanded to own 12% of all cryptocurrency across more than 150 asset classes.

In addition, the company intends to develop its own NFT marketplace. The Coinbase NFT waitlist now has 3.86 million email addresses on it at the time of publication.