The crypto industry is gradually moving toward the mainstream with constantly evolving use cases and innovative products. When it comes to adoption, the very first step to consider is how can we enable new consumers to explore the crypto world. The number of new users and their retention also depend on how smooth their customer journey is. Considering all these factors, Coinbase has recently launched their Smart wallets which aim to simplifying not only crypto onboarding but also liberate its users from paying high fees.
Coinbase Smart Wallets goal to onboard 1 Billion users:
On June 5, 2024, Coinbase launched its Smart Wallets campaign, marking the beginning of a new era in crypto wallets. These wallets are designed to eliminate the hassle associated with traditional crypto wallets. No more complex processes or high fees. With this new offering, Coinbase aims to onboard over one billion users by making crypto transactions simpler, faster, and cheaper.
Key Features of Coinbase Smart Wallets
1. Multi-Chain Support:
Smart Wallets integrate seamlessly with leading applications and support multiple networks, including Ethereum and Base.
2. Gasless Transactions:
Forget about hefty network fees. Coinbase is making transactions smoother and more cost-effective.
3. Enhanced Security with Passkeys:
Bid farewell to the old seed phrases! Coinbase’s Smart Wallets use passkeys. These are mainly used on smartphones and other devices, employing public key cryptography for a secure and straightforward login experience.
4. Immediate Wallet Creation & Direct pay
Setting up your wallet is now instant. No more waiting or complicated steps.
Directly pay from your Coinbase balance. This feature tackles the common issue of insufficient funds during transactions.
The Base Gasless Campaign & Smooth Transition for existing users
To boost the adoption of Smart Wallets, Coinbase has launched the Base Gasless Campaign. This initiative provides up to $15,000 in gas credits for wallet developers. It’s already integrated with leading wallet libraries and aggregators.
Current Coinbase Wallet users also need not to worry as Coinbase is developing new tools and support within the existing wallet app. This ensures a smooth transition to Smart Wallets.
Coinbase isn’t stopping at just wallets. They’re offering a companion webapp that’s a game-changer for asset and identity management. This webapp allows you to buy, send, swap NFTs, and monitor transaction history, all from one central platform. Managing your crypto has never been this easy.
Why This Matters
This move by Coinbase is set to revolutionize the crypto space. By removing traditional barriers and making crypto more accessible, Coinbase is paving the way for mass adoption. Whether you’re a seasoned trader or a complete newbie, Smart Wallets are here to make your crypto journey smoother and more enjoyable.
Coinbase’s Smart Wallets are more than just a new product—they’re a significant step towards making crypto mainstream. With features designed to simplify and secure your crypto experience, there’s never been a better time to dive into the world of blockchain.
