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Cryptocurrency Exchange Giant Coinbase Launches New Web 3.0-Focused Payment Service

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US-based cryptocurrency exchange giant Coinbase is adding a new feature to the cryptocurrency wallet browser extension that simplifies access to decentralized finance (DeFi) and non-fungible token (NFT) markets. .

In a new company blog post, Coinbase Senior Director of Product Management Prakash Hariramani says that Coinbase Pay will allow investors to use their cryptocurrency wallet through Google’s Chrome browser to avoid the complicated steps required to connect to Web 3.0 services.

“Before Coinbase Pay, users who wanted to add funds to their Coinbase wallet from the browser extension had to navigate to Coinbase.com, log in to their account, copy and paste the wallet address, and manually transfer funds from their account. Coinbase.

The process was not only cumbersome, but also left the user vulnerable to user error. For example, if funds were accidentally sent to the wrong wallet address, they would be unrecoverable.

Coinbase Pay makes the process faster, easier, and more secure than ever.”

Investors will now be able to couple their Coinbase crypto wallets to DeFi platforms and other crypto markets with just a few clicks in one convenient place.

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

Then simply select the coin you want to add to your wallet, specify the amount, confirm the transaction, and you’re done. No more switching between apps, copying and pasting addresses, and manually transferring funds.”

The leading US cryptocurrency exchange platform first announced that it would support NFT in its browser wallet last December.

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