Coinbase brings smart wallets with no gas fees and easy onboarding!

Coinbase is a popular name in the cryptocurrency world which is basically a popular exchange. Recently it is launching a smart wallet. And it promises to provide even more convenience to its users through Smart Wallet by onboarding new Coinbase Wallet users, eliminating gas fees and making recovery phrases unnecessary.

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Coinbase offers several benefits to its users to overcome the complexities associated with smart wallets, one of which is that smart wallets will allow users to create a new wallet and onboard a blockchain without downloading a new app or receiving a new recovery phrase. And as a result, the smart wallet they offer will integrate with major apps. And these smart wallets will be stored on users' devices by integrating with major apps. And that's why the security will be strengthened. It will use Face ID onboard, users' Google Chrome profile, Fingerprint ID or Yubikey with a passkey to keep users' wallets secure.

But an important point here is that all smart wallet users will have self-custody and permit payments from their Coinbase wallet or Coinbase account. Developers who are here can essentially waive gas fees by sponsoring transactions through Paymaster. Along with this, there are several other applications that allow users to complete their primary platform and it offers asset and identity management, buying, sending, swapping, non-fungible tokens and transaction history. One of the important points here is that this smart wallet is associated with free access for both users and developers. Even this exchange will make signing up on the site much easier. Existing users can easily use the new wallet.

But smart wallet technology is new to many, but this technology is not new at all. It has been in practice since 2020. Breakthrough technology for smart wallets on Ethereum. And such breakthrough technology is called account abstraction. It debuted with the ERC-4337 standard from March last year. All these technologies have benefited the country a lot. So the currently popular Coinbase started offering smart wallets to developers in March. So simply put, Coinbase customers can now look forward to a cheaper, easier experience when buying, selling or trading crypto with this technology.