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Coinbase.com Users Can Now Send Crypto Directly to Firm's Wallet App

Coinbase has added a new feature allowing users to directly transfer crypto holdings on Coinbase.com to accounts in its Wallet app.

Mar 13, 2019 at 9:05 a.m. UTC
Updated Sep 13, 2021 at 8:58 a.m. UTC

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.

Coinbase has added a series of new features to the Wallet app lately. Last month, the app announced support for bitcoin (BTC), bitcoin cash (BCH) and litecoin (LTC) on both iOS and Android.

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 

DISCLOSURE

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

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