Coinbase Launches a Smart Crypto Wallet

Coinbase is introducing its new “smart wallet” in an effort to enhance user experience for its customers.

According to the company, these advanced wallets will address the main challenges faced by cryptocurrency users, including complicated onboarding processes, high network fees, and the need to remember recovery phrases.

This will make the transition to onchain smoother than ever before, as stated in their official statement. The US-based exchange had initially announced the launch of these new wallets in February at the EthDenver conference.

With the aim of simplifying the onboarding process, Coinbase has designed the smart wallet to allow new users to create an account using various methods, such as Face ID, Google Chrome profile, fingerprint, or Yubikey, without the need for recovery phrases.

Furthermore, the company has also taken measures to address the issue of users often being notified of insufficient available funds.