LOGO_CRYPTO_SIGHT

Coinbase Wallet Added Username-enabled Crypto Transfer Support

By | February 27, 2020
thecryptosight-us-crypto-exchange-coinbase-now-allows-cross-border-transfer

Coinbase has reportedly rolled out a support feature for its wallet, which allows for username-enabled crypto transactions, replacing the existing lengthy addresses. 

Revealed by the firm on February 25th, Coinbase Wallet has undergone an upgrade, which now facilitates digital coins transferring to a dedicated usernames, or the ones established on the Ethereum Name Service (ENS). 

These dedicated username Coinbase customers use will come in the form of “@username”, while ENS usernames are mostly similar to a web link (URL), nominally coinbase.eth. 

According to Coinbase, it has received numerous negative feedbacks from its clients, regarding the crypto address being too “cumbersome it is to deal with long and nonsensical”. Customers are also afraid of missing a letter or two in their process of copying-pasting the addresses, consequently cost them their funds. 

“Human-readable addresses help fix these problems. There are now services that let you associate a short human-readable name with your crypto addresses. […] We believe these improvements will make cryptocurrency much easier to use and help drive adoption with a more mainstream audience.”

The ENS is a system, specifically designed for Ethereum smart contract-based name distribution, which helps convert normal, readable human names to suitable addresses for digital wallets. The system initially provided support only for Ethereum addresses, but has begun to also offer facilitation for multicoin starting October last year.

Tags: , ,

Comments