A new feature of Coinbase Wallet allows the transfer of crypto via a link that can be sent through some of the most popular social media sites and messaging apps as the crypto exchange looks to make its service accessible to a wider market.
“Users can now send money to any platform where they can share a link,” Coinbase Said In a December 5 blog post, apps like iMessage, Telegram, WhatsApp, Facebook, Instagram, and TikTok were named.
There are no payment fees when sending USD coins (usdc), a US dollar stablecoin launched by Coinbase in 2018.
Send money anywhere, you can send the link.
easily. Immediately. to free.
– Coinbase Wallet ️ (@CoinbaseWallet) 5 December 2023
Coinbase explained that clicking the link will take the recipient to their device’s app store to download the Coinbase Wallet – if not already downloaded – where they can create the wallet in one click.
If the funds are not claimed within two weeks, they will be returned to the sender.
Coinbase has also created a “Simple Mode” for its wallet to help new and less savvy tech users that only shows basic functions like buying, sending, receiving, and viewing assets.
Coinbase says new feature aims to solve complexities international bank wire transfer, It claims these often come with hefty fees and paperwork and it can take up to five business days for funds to arrive.