Coinbase Users Can Now Send Crypto Directly To The Wallet App

Coinbase is in the latest digital currency news for a new feature that allows users to directly transfer cryptocurrency holdings from Bitcoin and other altcoins to accounts in the firm’s Wallet app.

According to the San Francisco-based cryptocurrency exchange and an official blog post on Tuesday, users can now link their accounts once the app gets updated in “the next few days.”

According to the exchange and the post that was published on its blog:

“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.”

Coinbase also explained that with the Coinbase.com account, users can now buy cryptocurrencies and their keys will be stored centrally within the exchange. However, with the Wallet app, the Coinbase users can safeguard their own private keys.

The new feature, as Coinbase noted, is optional. After the app’s update gets released, users will receive an in-app notification to “Connect to Coinbase” and link the accounts if they choose so. The account linking can also be turned on or off at a later date directly from the Settings menu, Coinbase noted. With this feature, users will find it more convenient to regularly transfer funds from their Coinbase.com account to a software or hardware wallet.

In the meantime, Coinbase is working on a future update that will let cryptocurrencies to be directly sent to users from the Coinbase.com accounts within the app.

The exchange has added a series of new features to the Wallet app lately. In February 2019, we saw new support for Bitcoin (BTC), Bitcoin Cash (BCH) as well as Litecoin (LTC) on both iOS and Android platforms. In the same month, Coinbase announced that its Wallet users would be able to back up their private keys on the personal cloud storage platforms Google Drive and Apple iCloud.

With this, Coinbase again confirmed that it is a big player in the crypto industry and an exchange which constantly rolls out new updates to help its users move, invest and store their cryptocurrency holdings.