Recently, the Coinbase exchange has introduced a new service that allows users to send cryptocurrencies via links through popular communication methods and social media platforms like WhatsApp, iMessage, Telegram, Facebook, Snapchat, TikTok, Instagram, and more, free of charge.
According to the announcement, users can send money anywhere and at any time. To utilize this feature, both the sender and recipient must have a Coinbase web3 wallet. Currently, Coinbase Wallet is available in over 170 countries. In case the sent funds are not received within 2 weeks, they will be automatically refunded to the sender.
Additionally, Coinbase has created a “simple mode” for its wallet, displaying only basic functions such as buying, sending, receiving, and viewing assets. This aims to simplify and make it user-friendly, especially for newcomers to the crypto market.
With this new service, Coinbase claims to provide an effective solution to eliminate the complexity associated with international bank transfers, often accompanied by significant fees and extensive paperwork, sometimes taking up to several days to complete.
In recent times, Coinbase has been working to enhance the utility of its wallet application, attracting new users during an exciting period in the crypto market. Furthermore, in its efforts to diversify its strategy and expand its ecosystem, Coinbase has continuously developed and introduced various new products, including Coinbase Shop and Coinbase Verifications.
Notably, Coinbase’s stock (COIN) has also seen strong growth, boosted by the wave of Bitcoin ETF Spot products, with many major asset managers choosing Coinbase as the custodian for their fund products. Since the beginning of the year, Coinbase’s stock price has increased nearly 300% to $140. However, it is still down 59% from its all-time high of $343 on November 12, 2021.