Coinbase have just announced that account holders can now link their Coinbase.com accounts to their Coinbase wallets, making the process of cryptocurrency transfers easier for users of one of the top cryptocurrency exchanges.
In the official release by Coinbase on Medium, published on Mar. 12th, the representatives of one of the top exchanges in the cryptocurrency market announced that Coinbase users will be able to easily make transfers from the Coinbase website to their Coinbase Wallet.
Accessibility of Cryptocurrency Funds
Coinbase account holders could store their cryptocurrency alongside their private keys that are essential for access to their personal funds with Coinbase.com, while users of the exchange could also choose to go for another option and store their own funds and private keys on Coinbase Wallet application, where the private key is only visible and known to the wallet holder.
Previously, before Coinbase Wallet app was introduced to the crypto scene back on Aug. 15th, 2018, Coinbase users could take advantage of the former wallet called “Toshi”, that initially featured the world’s first mobile Dapp browser once the product was launched during 2017.
— Coinbase Wallet (@CoinbaseWallet) March 12, 2019
Coinbase Wallet application appeared to be the next logical step facilitated by Coinbase developers who described the new wallet as an effort to create the “most trusted brand in the space” out of Coinbase.
That is how the team enabled easy and secure private key storage by utilizing Secure Enclave of user’s devices combined with biometric authentication technology.
While Coinbase wallet came to the scene with the ability to easily manage tokens and cryptocurrency, as well as send payments, access leading decentralized exchanges, and receiving ICO tokens and airdrops on top of other services, users can now link their wallets to their Coinbase.com accounts, which should increase the overall efficiency when operating with cryptocurrency funds.
The New Coinbase Service to Become Available “in the Next Few Days”
As stated in the original blog post by Coinbase, the newly announced service is said to become available in the period of the next several days from the time of the announcement.
All Coinbase Wallet users should receive an in-app notification that will confirm the availability of the service, while the new feature is said to be optional. Users will be able to connect their wallets to their Coinbase.com accounts at any time from the moment the service becomes available.
After the accounts are linked, users should be able to easily move their funds from Coinbase.com to the wallet application, which should contribute to the increased functionality as well as the efficiency of the existing services.
Besides from representing a functional medium for making easy and simple cryptocurrency transfers, the new service should also contribute to the general user-end experience with Dapps, as the linking feature will allow easy access to finance-based applications such as Maker, available games and purchasing of cryptocurrency collectibles.
Users can also use the function to transfer their funds back to Coinbase.com from their wallet applications, while Coinbase is working on shaping the future of decentralized internet where accessibility and smooth end-user experience appear to be playing a major role.