Coinbase Crypto Wallet Offers “Simple Mode” for Improved UX: CEO Armstrong

Last updated: December 19, 2023 05:52 EST
. 1 min read

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Brian Armstrong, the CEO of Coinbase crypto exchange, has explained that the wallet modifications, launched last week, focus on payments.

On December 5, Coinbase announced enhanced features on its wallet app in a move to facilitate seamless money transfers. The update aims to simplify the process of payments by eliminating complexities in traditional banking, it noted.

In line with the announcement, Armstrong posted in a Tweet on Tuesday, giving an example that the “simple mode” lets users send USD Coin (USDC) on Base “free, instantly, globally.”

Coinbase Wallet now has a simple mode that focuses on payments. For instance, it lets you send USDC on Base free, instantly, globally.

We’ll try experimenting with this as the default mode in frontier markets for easier onboarding. People can always flip to advanced when ready. https://t.co/SeANlDYy6e

— Brian Armstrong 🛡️ (@brian_armstrong) December 12, 2023

“We’ll try experimenting with this as the default mode in frontier markets for easier onboarding. People can always flip to advanced when ready.”

Improving UX For Wider Crypto Adoption

When it comes to accelerating crypto adoption, the focus is usually on enhancing user experience (UX).

However, complexities including understanding cryptographic algorithms, wallets, public and private keys, gas fees and safeguarding from scams, remain a challenge.

A report by Hubspot revealed that a staggering 88% of users are less likely to return to a site with bad UX. 90% of consumers reported that they stopped using an app because it performed poorly.

That said, in the burgeoning digital landscape, improved UX design demands security and trust, inclusivity, streamlined onboarding, and consistent innovation.

Coinbase aims to address these by simplifying the user interface. “By focusing on essential functions like buying, sending, receiving, and storing digital assets, even beginners can now dive into crypto,” it added.

Coinbase Adds Seamless (SEAM) support

In another announcement on Monday, the exchange noted that it is adding support for the Base lending protocol Seamless (SEAM).

Coinbase will add support for Seamless (SEAM) on the Base network (ERC-20 token). Do not send this asset over other networks or your funds may be lost. Transfers for this asset are available on @Coinbase & @CoinbaseExch in the regions where trading is supported.

— Coinbase Assets 🛡️📞 (@CoinbaseAssets) December 11, 2023

With the integration, SEAM becomes the only Base network native token traded on Coinbase.

Following the announcement, the token’s total value locked (TVL) surged to nearly $55 million. According to DefiLlama, Seamless saw a skyrocketing 600% surge in TVL and is the second largest protocol on Base.