How Coinbase’s Non-Custodial Wallet Is Being Improved To Support DeFi and NFTs

Leading US-based crypto exchange Coinbase has outlined a plan for making the future of the internet — or web3 as crypto folks like to call it — and cryptoassets more accessible and user-friendly with its new Wallet.

In a recent blog post, Coinbase highlighted the growing adoption of crypto and blockchain-enabled experiences across the world. The exchange says it is committed to meeting the demand of new users by investing in accessibility and user-friendly features that will increase participation in decentralized finance (DeFi) and non-fungible tokens (NFTs). 

In particular, the exchange is modifying its Coinbase Wallet to make sure it delivers the “most user-friendly self-custody experience in crypto.” The exchange aims to make the Coinbase Wallet app easier for managing cryptoassets across a range of supported networks, as well as incorporating user-requested features such as the ability to trade natively on decentralized exchanges (DEXes) directly via the browser. 

Coinbase noted that the surge in popularity of crypto over the past year has exposed several pain points, particularly associated with scaling, high network fees and longer processing times. The exchange highlighted efforts to alleviate the issue of scale, including layer 2 solutions, sidechains and layer 1 networks. 

The new Coinbase Wallet experience will be available both on mobile (via the Coinbase Wallet app) and on the web (via its desktop browser extension). The Coinbase Wallet supports assets held on the Ethereum mainnet, in addition to those on Arbitrum, Avalanche, Binance Smart Chain, Fantom, Optimism, Polygon, and xdai networks. 

Finally, Coinbase said that “your NFT collection is coming to Coinbase Wallet’s browser extension” after which users will be able to “view their NFT collection from within the Coinbase Wallet extension, easily see their NFTs’ attributes, and easily access popular NFT marketplaces like OpenSea.”

It also mentioned that it will be “launching support for NFTs in the browser extension in just a few days, so make sure you have the latest version of the browser extension installed from the Chrome webstore.”

https://youtube.com/watch?v=uIS2RCOQ_kk%3Ffeature%3Doembed

Disclaimer

The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.

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