Coinbase’s Wallet Introduces Global Money Transfers Using Link-Based Payments
The announcement made public on Tuesday elaborated that this feature eliminates the necessity for intricate bank details and costly wire transactions.
By Anna B Kiwanuka
Coinbase, listed on Nasdaq as COIN, has unveiled its newest wallet feature to streamline worldwide fund transfers. Users can now send money across various platforms, including popular messaging and social media apps, simply by sharing a link.
The announcement made public on Tuesday elaborated that this feature eliminates the necessity for intricate bank details and costly wire transactions. It provides swift settlements at no cost. This enhancement extends compatibility to a range of social media and messaging platforms, including WhatsApp, Instagram, TikTok, Facebook, Telegram, Snapchat, and also via email.
This service operates on any platform capable of sharing a link. Coinbase emphasized that unclaimed funds automatically revert to the sender after two weeks. The newly introduced payment method by Coinbase resembles those offered by major payment entities like PayPal and Stripe.
Paypal offers link-based transactions through a service called Paypal. me. Individuals can generate a personalized link to request payments directly into their PayPal account. This feature by PayPal can also be utilized for crypto payments associated with specific digital assets supported by the platform.
Targeting both newcomers and experienced users, Coinbase has additionally introduced a ‘simple mode’ in its non-custodial wallet. This feature focuses on fundamental functionalities such as buying, sending, receiving, and securing digital currencies.