Coinbase customers can look forward to a cheaper, easier experience when they buy, sell or trade crypto.
Cryptocurrency exchange Coinbase is launching a smart wallet. The new Coinbase Wallet will offer users greater convenience through onboarding, eliminating gas fees and making recovery phrases unnecessary.
The smart wallet will allow users to create a new wallet and onboard onto a blockchain without downloading a new app or receiving a new recovery phrase. Instead, the smart wallet will integrate with major apps and use Face ID, users’ Google Chrome profile, fingerprint ID or Yubikey to onboard through a passkey that will be stored on users’ devices.
The smart wallet will have self-custody and permit payments from the user’s Coinbase Wallet or Coinbase account. Developers will be able to waive gas fees by sponsoring the transaction through a paymaster, if they choose to.