Recipients must download a Coinbase wallet to receive the funds, but the exchange says it has simplified the process for less tech-savvy users.
A new Coinbase Wallet feature allows the transfer of cryptocurrency through a link that can be sent through some of the most popular social media sites and messaging apps, as the cryptocurrency exchange looks to make its service accessible to a broader market.
“Users can now send money on any platform where they can share a link,” Coinbase said in December.
There is no payment fee when sending USD Coin (USDC), a US security.
Send money anywhere you can send a link.
Easily. Free.
⤷ https://t.co/CKyLu1wYEw pic.twitter.com/XX9YaZZEPm
– Coinbase Wallet ️ (@CoinbaseWallet) December 5, 2023Clicking the link will take the recipient to their device’s app store to download Coinbase Wallet, if they haven’t already, where they can create a wallet with a single click, Coinbase noted.
If funds are not claimed within two weeks, they will be returned to the sender.
Coinbase has also created a “simple mode” for its wallet to help new and less tech-savvy users, which only displays basic functions such as buying, sending, receiving, and viewing assets.