One thing that makes cryptocurrencies seemed to be hard to understand is the fact that most cryptos have encrypted addresses in order for them to be uniquely designed to one crypto account. This makes crypto more complicated for a normal person that aims to invest in virtual currencies.
However, this problem can now be resolved now that Coinbase wallet — a San Francisco-based digital currency exchange company– has now announced that they now approved the usage of short and customizable crypto addresses for its users.
Coinbase wallet changes the norm in crypto addresses
On Feb. 26, the Coinbase wallet released a report stating that their company will now allow users to customize their crypto addresses into names that they recognize and simply understand.
“Starting today, Coinbase Wallet users can send crypto using short human-friendly addresses instead of traditional long addresses,” said Coinbase.
According to Coinbase, they have made this change in order for new users to begin having an interest in using cryptocurrencies. Once customers see that crypto addresses are based on usernames, the effect can result in customers being more familiar with their crypto addresses– and may even lead to crypto adoption around the globe.
“We believe these improvements will make cryptocurrency much easier to use and help drive adoption with a more mainstream audience. Users can now easily send money to friends and business partners like they do with traditional payment apps, albeit globally and in crypto,” said Coinbase.
Send your crypto address to families and friends
From long traditional crypto addresses like “0x89136a83664fa0673930be34463e444260775dc” or “3GVBSgLLLjAoNRKxw5hm7kANN2P2mEQJy,” users of Coinbase wallet can now give their crypto addresses to their friends and relatives by simply putting their usernames (like @walletfan) on the app and hitting send to send some cryptos.
Coinbase protects your username from hackers
If you’re worried that your account may now give more access to hackers, Coinbase already clarified users have the choice to keep their usernames private by clicking the privacy toggle to the settings menu in the Wallet app.
As of today, Coinbase wallet already supports cryptocurrencies like Bitcoin, Bitcoin Cash, Litecoin, Ethereum, Ethereum Classic, XRP, Stellar Lumens, Dogecoin, and all ERC20 tokens (including USDC and DAI).
With the changes imposed by Coinbase wallet, new users of cryptocurrencies have no more excuses for investing in these virtual currencies now that it’s easier and less tricky compared before.
Are we beginning to see a crypto-friendly world with Coinbase’s new feature?