Coinbase introduces Coinbase Pay to web developers
With the launch of Coinbase Pay, users can easily fund their Coinbase wallets
Coinbase, the largest cryptocurrency exchange in the US, has released Coinbase Pay–a new way for users to fund their Coinbase wallet through a Chrome browser extension. Before Coinbase Pay, users had to log in to the Coinbase website, purchase crypto, and then input their wallet address to transfer the funds. This new tool avoids the risk of entering your address incorrectly and having it sent to the wrong address as a result.
"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", reads the company blog.
Bipul Sinha, senior product manager at Coinbase, noted that funding self-custody wallets has been a major challenge. “It is a cumbersome process that involves multiple steps, switching between apps, and manual transfers.”
According to Coinbase's director of product management, Rishi Dean, the web 3.0 functionality on Coinbase's new wallet and browser is powered by multi-party computation (MPC) technology, which allows users to have a dedicated on-chain wallet. This means that even if a user misplaces their device, the key to the dapp wallet is safe, and Coinbase can help with recovery.