Accessing Crypto Made Easier
Coinbase, the popular crypto exchange, has launched a new feature on its Coinbase Wallet that allows users to transfer crypto through links shared on various social media platforms and messaging apps. The goal is to make the service more accessible to a wider market.
Sending Money Anywhere
According to a recent blog post by Coinbase on December 5th, users can now send money using a link on platforms such as iMessage, Telegram, WhatsApp, Facebook, Instagram, and TikTok. Notably, there is no payment fee when sending USD Coin (USDC), which is a U.S. dollar stablecoin launched by Coinbase in 2018.
Simple and Convenient
When the recipient clicks on the link, they will be directed to their device's app store to download Coinbase Wallet (if not already downloaded). From there, they can easily create a wallet in just one click. If the funds are not claimed within two weeks, they will be returned to the sender.
Addressing Complexities with Bank Transfers
Coinbase aims to simplify international bank wire transfers, which often come with high fees, paperwork, and lengthy processing times. This new feature offers a quicker and more cost-effective solution for transferring funds.
COIN Shares on the Rise
Despite a recent dip from its all-time high of $343 on November 12, 2021, Coinbase's share price (COIN) has still seen a significant increase of over 300% in 2023, reaching $140. According to Google Finance, it remains a top performer in the crypto market.
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