Coinbase wallet introduces crypto addresses understandable to humans

Dealing with cryptocurrencies has always been intimidating for a lot of people, and not only due to the fact that they are still a new technology. One part of it lies in the fact that crypto transactions are irreversible, meaning that once a user sends their money to another address, that money is gone from their wallet for good. With crypto wallet addresses being seemingly random strings of numbers and letters, even the slightest mistake — such as replacing O with 0 — could result in users’ funds never arriving at the proper address. This is especially dangerous when it comes to large amounts of money, and a reason why many are still scared of using digital coins. Now, the largest crypto exchange in the US, Coinbase, finally managed to solve this problem by finding a way to make wallet addresses human-friendly, which might have great consequences when it comes to spreading adoption.

Coinbase is making crypto transactions much simpler to make

The San Francisco-based exchange has introduced new addresses for its own wallet app, where every Coinbase Wallet user will have their own associated username, which can be used as an address from now on. The new feature is compatible with all cryptos that the wallet already supports, including BTC, BCH, LTC, ETH, ETC, XRP, XLM, DOGE, and every ERC-20 token out there. The exchange also dealt with privacy concerns by upgrading the wallet with a new privacy toggle, which can now be found in the settings menu. That way, users can keep their username private, and prevent others from searching for their names. Furthermore, the wallet is now also integrating Ethereum’s ENS (Ethereum Name Service), meaning that coins can now be sent from Coinbase Wallet to .eth addresses. And, since ENS goes beyond ETH only, users can also send BTC, LTC, BCH, and others to these addresses. Coinbase Wallet’s developers believe that the move will make it much easier to use digital currencies and that it might even help drive adoption.