By Prakash Hariramani, Senior Director, Product Management, and Bipul Sinha, Senior Product Manager
Today, we are introducing Coinbase Pay, the easiest way for Coinbase users to fund their Coinbase Wallet from the Chrome browser extension and explore web3.
Over the past year, DeFi, NFTs, and other web3 services have seen tremendous adoption. However, a key step in being able to access and use these services — funding a self-custody wallet — is a cumbersome process that involves multiple steps, switching between apps, and manual transfers.
Coinbase Pay eliminates these steps, and makes it easy and intuitive for anyone to participate in DeFi or purchase NFTs, in just a few clicks.
Cash. Click. Crypto.
Before Coinbase Pay, users who wanted to add funds to their Coinbase Wallet from the browser extension needed to navigate to Coinbase.com, 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. For example, if funds were accidentally sent to the wrong wallet address, they would be irretrievable.
Coinbase Pay makes the process faster, easier, and more secure than ever before. All you need to do is select “Add crypto with Coinbase Pay” when you want to add crypto to your Coinbase Wallet extension.
Next, you simply select the currency you want to add to your wallet, specify the amount, confirm the transaction–and that’s it. No more switching between apps, copy-pasting addresses, and manually transferring funds.