Coinbase issues crypto transfers through links sent on WhatsApp, Telegram.
A new feature from Coinbase Wallet allows the crypto exchange to transfer crypto via a link sent through some of the most popular social networking sites and messaging applications, making the service accessible to a wider market.
In a Dec. 5 blog post, Coinbase named apps like iMessage, Telegram, WhatsApp, Facebook, Instagram and TikTok so users can send money on any platform.
Launched in 2018, USD Coin (USDC), the US dollar stablecoin Coinbase has no fees when sending.
Send money wherever you can send a link.
Simply. right away. for free.
⤷ pic.twitter.com/XX9YaZZEPm
— Coinbase Wallet ️ (@CoinbaseWallet) December 5, 2023
Clicking the link will take the recipient to their device's app store to download the Coinbase Wallet — if not already downloaded — so they can create a wallet with one click, according to Coinbase.
If the funds are not claimed within two weeks, they will be returned to the sender.
To help new and less tech-savvy users, Coinbase has created a “simple mode” for its wallet that only features functions like buying, sending, receiving and viewing assets.
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Coinbase says the new feature aims to solve the complexities of international bank money transfers, which often come with a lot of fees and paperwork and can take up to five business days for funds to arrive.
Coinbase's ( COIN ) stock price has risen more than 300% so far in 2023 to $140, but is still down 59% from its peak of $343 on November 12, 2021, according to Google Finance.
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