By Liam Frost
2 min read
Coinbase Wallet announced, in a blog post yesterday, that it now supports short and easy-to-remember cryptocurrency names.
Not to be confused with Coinbase’s main wallet, Coinbase Wallet was designed to let users control their own funds and access decentralized apps (dapps)—although it had to remove this functionality last year.
Currently sending cryptocurrency requires the use of long alphanumeric strings of characters. These are impossible to remember and need to be copied and pasted. Instead, cryptocurrency names associate an address with a name that’s easy to remember, in a way similar to email.
Coinbase Wallet will let users create their own names within the app, such as @Decrypt. It also supports the Ethereum Name Service, a pre-existing way of creating names for Ethereum addresses. These names look like: Decrypt.eth.
In a recent feature, Decrypt showed the risks of using the Ethereum Name Service with large amounts of cryptocurrency because it can be used to identify the richest crypto owners. And much more.
Short addresses can be used to send all the currencies supported by Coinbase Wallet, including Bitcoin, Bitcoin Cash, Litecoin, Ethereum, Ethereum Classic, XRP, Stellar Lumens, Dogecoin and all ERC-20 tokens such as USDC and DAI.
Furthermore, the company also expanded the integration between the main Coinbase app and the Wallet app. Last March, the option to link accounts and transfer funds to Wallet was added. Starting today, users can also easily send crypto back to Coinbase from their Wallet—for storage, trading or cashing out to their bank.
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