Coinbase Offers Greater DeFi Access Through a Coinbase Wallet Chrome Extension

Coinbase aims to empower users by creating greater transaction efficiency through their new Google Chrome Wallet Extension.

By
John Tunney
on
May 18, 2021
Category:
Blockchain News

Coinbase’s Wallet Extension Now On Google Chrome

On May 17th, Coinbase announced they would be offering their Coinbase Wallet as an extension on Google Chrome. The feature aims to enhance user experience when buying, selling and exchanging crypto. Sid Coelho-Prabhu, the Wallet product lead at Coinbase said that Coinbase Wallet has 1 million active users, and the browser extension hopes to create a more efficient DeFi experience. 

For crypto investors that do not use a browser extension, the process consists of going to a DEX, connecting their wallet by scanning a QR code, and then executing their desired trades. Coinbase Wallet hopes to eliminate the middle step, connecting one's wallet by already having their wallet in the browser, which can connect to dApps without having to scan a code. Coinbase investors using the Wallet Chrome extension are told that:

“there will be trading on decentralized exchanges (DEXes), earning interest and collecting NFTs with the ease of a click.” 
Coinbase is currently trading at $241.60 and is down 27% over the last month.  


Benefits of the Feature

The benefits of this added tool will be tremendous for novice crypto investors. The hope with this project, according to Coelho-Prabhu, is to provide an easier user experience for those who are not so tech savvy. The project also hopes to begin the process of integrating crypto with the mainstream world. The added extension will have security features, such as messaging users on their phone to confirm transactions, shown in the image above. The goal of Coinbase’s Wallet extension is to provide extra user capability and ease for novice beginners while remaining safe and secure. This step further opens up the world of DeFi for the average user and specifically US investors.

Coinbase

Coinbase is one of the world’s largest cryptocurrency exchanges, with over 56 million users across 32 countries worldwide. Coinbase allows users to securely buy, store and sell cryptocurrencies like Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Litecoin, and many more on their easy, user-friendly app and web platform.

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John Tunney

John Tunney is an accomplished analyst and crypto enthusiast. The UCLA alum has been actively reporting and blogging for 3 years, and has a passion for all things finance.

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