Coinbase Wallet has launched an on-chain messaging service that allows users to interact directly on its platform. XMTP, an open-source messaging network, will power the encrypted messaging.
As announced recently, Coinbase users can now communicate with encrypted messages through Coinbase Wallet, the cryptocurrency exchange’s self-custodial wallet.
The service is built to provide a secure way for users to interact with each other. Users do not need to rely on third-party messaging services that may not be secure. Coinbase Wallet gives importance to communication between crypto fans by allowing direct messaging to .eth, .cb.id, and .lens addresses.
Traditional messaging platforms often lack encryption and privacy features, making them vulnerable to hacking and unauthorized access. Coinbase aims to bridge this gap by integrating encrypted messaging within its wallet.
What is Coinbase Wallet?
Coinbase Wallet is a mobile app allowing users to manage their cryptocurrencies securely. It offers a user-friendly interface, allowing individuals to store, send, and receive cryptocurrencies conveniently.
With the addition of encrypted messaging, Coinbase Wallet aims to provide a comprehensive solution encompassing secure storage and communication. Alongside this messaging feature, additional functionalities, like file attachments and voice calls, are being explored.
Encrypted messaging brings forth numerous advantages for cryptocurrency users. By establishing a secure communication channel, Coinbase empowers users to engage in open and honest discussions while safeguarding their privacy.
This initiative grants access to conversations exclusively to the sender and receiver. Such a proactive approach enhances the overall user experience and contributes to the maturation and progress of the crypto industry.
This feature prevents intermediaries or malicious actors from intercepting or tampering with the messages. Encrypted messaging enhances anonymity, enabling users to communicate without disclosing their identities. This aspect proves vital for individuals who prioritize privacy in their crypto transactions.