Cryptocurrency exchange Coinbase is introducing a smart wallet that offers easy blockchain onboarding, no recovery phrases, zero mandatory gas fees and self-custody.
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.
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. A companion web app will be the user’s primary platform and will offer asset and identity management, buying, sending, swapping, nonfungible tokens and transaction history. Coinbase is promising “a fluid and intuitive experience” throughout those transactions.At the start, the smart wallet will support the Base, Ethereum, Optimism, Arbitrum, Polygon, Avalanche, BNB and Zora networks. The smart wallet will be free for both users and developers.
Current users will be able to use the new wallet “in the coming months” after it finalizes all migration tools.the idea the following year in his blog, touting the “social recovery” features that add security and eliminate recovery phrases.Bitcoin price at $72K is the ‘fuse’ to reach new ATH — Analyst
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