Coinbase to allow users to deal with NFTs and Defi more easily with new platform

Coinbase to allow users to deal with NFTs and Defi more easily with new platform 2

Coinbase announced its New platform CoinbasePay to allow the users to easily jump into the decentralized crypto world by remaining at the self custodial wallet of Coinbase. 

Coinbase is a popular crypto exchange in the US and it’s listed publicly on Nasdaq. Right now this exchange is standing at second rank by highest trading volume in this Crypto industry, just after the Binance exchange. This exchange provides services to almost all countries’ crypto traders but is under full compliance. 

Just a few days ago, Coinbase launched its CoinbasePay platform as a new option for its clients to dive into the world of Defi ( Decentralized finance) and NFTs (non fungible tokens).

Through CoinbasePay users will be able to buy NFTs and also use the Defi platforms easily. This is not limited to buying assets but also having full ability to do funding to Coinbase crypto accounts easily. 

According to Coinbase Exchange, this new service as a CoinbasePay is fully decentralized which means self custodial wallet like service. And it is highly secure and faster to use in the crypto payment options. But surely it will require the extension in the chrome browser to use for the same thing.

“All you need to do is select ‘Add crypto with Coinbase Pay’ when you want to add crypto to your Coinbase Wallet extension.”

Blog post confirmed that first-time users will be required to first connect their Coinbase wallet to the self custody wallet, after that they will be able to access CoinbasePay. 

Coinbase Wallet of Coinbase exchange was launched in May 2021. This wallet was available as a chrome extension but later exchange launched its application for iOS and Android users. 

Just a couple of days ago, Coinbase announced the integration of the Solana blockchain to the Coinbase wallet. Coinbase announced that the exchange believes that Solana is a better option for the users to pay funds in crypto at low fees and high speed, as an alternative to the Ethereum blockchain network.

Read also: Prince Phillip of Serbia says inflation is inevitable, Bitcoin is solution