Coinbase Launches Smart Wallet

Coinbase Launches Smart Wallet

Coinbase introduced its smart wallet, revolutionizing onchain interactions by simplifying onboarding, removing network fees, and eliminating recovery phrases.

The Deets

  • Smart Wallet Features: Seamless, gasless transactions and cross-app portability
  • User Experience: Simplified onboarding process
  • Security: No recovery phrases needed
  • Goal: Aiming to bring over 1 billion users onchain

The Bulk

Coinbase is hoping to bring the next billion users on chain, creating an enahnced experience with its new smart wallet, designed to make onchain interactions more accessible and user-friendly. These wallets offer a streamlined onboarding process, allowing users to get started with fewer steps and less technical knowledge.

The new smart wallets eliminate the need for network fees, making transactions seamless and gasless. This is a considerable improvement over traditional wallets, where users often face high fees and complicated transaction processes.

Additionally, Coinbase's smart wallets remove the need for recovery phrases, a common pain point for many users. Instead, they offer enhanced security features that protect user assets without the hassle of memorizing or securely storing recovery phrases.

With these innovations, Coinbase aims to onboard over 1 billion users into the onchain world, significantly expanding the reach and accessibility of blockchain technology.

ā—Why It Matters

Coinbase's smart wallets could significantly impact onchain adoption by making it easier and more affordable for users to engage with onchain activities, particularly by removing the intimidation of security risks and reducing the technical understanding required to particpate.  

 šŸ”œ What's Next?

 Coinbase plans to roll out additional features and enhancements to its smart wallets, further improving user experience and security.

 šŸŽ¤ Platform Prose

 


Smart wallets offer a streamlined, gasless onchain experience. This simplicity, combined with multi-chain support and integration with major applications, will make onboarding to the blockchain as effortless as signing into your favorite websiteCoinbase


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