Coinbase has launched a new feature allowing users to directly transfer cryptocurrency holdings on Coinbase.com to accounts in the firm’s Wallet app.
The San Francisco-based cryptocurrency exchange announced the news in a blog post on Tuesday, saying that users will be able to link their accounts once the app gets updated in the “next few days.”
“Once your Coinbase account is linked, you can easily transfer crypto to your Wallet app with just a couple of clicks, anytime you need it,” the exchange said.
Coinbase explained that with the Coinbase.com account, users can buy cryptocurrencies and the exchange itself stores the keys centrally. However, with the Wallet app, users safeguard their own private keys.
The new feature is optional. After the app update is released, users will receive an in-app notification to “Connect to Coinbase” to link the accounts if they so choose.
The account linking can be turned on or off at a later date from the Settings menu, the exchange said, adding that the feature would add convenience for Coinbase users that regularly transfer funds from their Coinbase.com account to a software or hardware wallet.
Coinbase is also planning a future update that will allow cryptocurrencies to be directly sent to users’ Coinbase.com accounts from the app.
Also in February, Coinbase announced that Wallet users would be able to back up their private keys on personal cloud storage platforms Google Drive and Apple iCloud.
App images courtesy of Coinbase