Coinbase Launches New "Smart Wallet" to Enhance User Experience
Coinbase has officially launched its new “smart wallet”, aiming to significantly improve the user experience for its clients by addressing major pain points in the crypto space.
“These next-generation wallets address the biggest pain points of the crypto experience today—complex onboarding, network fees, and recovery phrases—making the transition to onchain smoother than ever,” the company said in a statement.
First announced at EthDenver in February, the U.S.-based exchange has designed the new smart wallet to simplify the onboarding process.
The wait is over. Smart wallets are here. pic.twitter.com/jtXUNu1dq3
— Coinbase Wallet 🛡️ (@CoinbaseWallet) June 5, 2024
Users can now create a wallet using “Face ID, Google Chrome profile, fingerprint, or Yubikey without recovery phrases,” according to Coinbase.
Additionally, the new smart wallet addresses the common issue of insufficient funds.
“Use self-custodial wallet balance or Coinbase account balances, avoiding ‘insufficient balance’ errors,” the company stated.
Coinbase also highlighted that gasless transactions will be possible. “Developers can sponsor transactions via paymaster integrations,” the statement noted.
The wallet currently supports eight networks, including Base, Ethereum, Optimism, Arbitrum, Polygon, Avalanche, BNB, and Zora, with plans to add more in the future.
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