In brief

  • Coinbase Wallet now supports simple user-friendly addresses.
  • Users can link their Ethereum Name Service .eth names.
  • The wallet has made added another feature.

Coinbase Wallet announced, in a blog post yesterday, that it now supports short and easy-to-remember cryptocurrency names.

Not to be confused with Coinbase’s main wallet, Coinbase Wallet was designed to let users control their own funds and access decentralized apps (dapps)—although it had to remove this functionality last year.

The Ethereum Name Service wants to make Ethereum easier to use. But there's a catch. Image: Ethereum Name Service.

We tracked 133,000 Ethereum names and exposed their secrets

The Ethereum Name Service was designed to make sending and receiving crypto easier. You take your Ethereum (ETH) address—an alphanumeric string of characters, which shows how much ETH you have in your account—and replace it with a simple name. Much like how email addresses replaced clunky pieces of code, it was supposed to make crypto simpler. But Decrypt has learned that this step forward in user design, has meant several steps backward when it comes to privacy. Since the Ethereum blockchain is...

Currently sending cryptocurrency requires the use of long alphanumeric strings of characters. These are impossible to remember and need to be copied and pasted. Instead, cryptocurrency names associate an address with a name that’s easy to remember, in a way similar to email.

Coinbase Wallet will let users create their own names within the app, such as @Decrypt. It also supports the Ethereum Name Service, a pre-existing way of creating names for Ethereum addresses. These names look like: Decrypt.eth.

Ethereum
ETH
+51.40%$2,411.02
24H7D1M1YMAX
Created with Highcharts 10.3.3Apr 20Apr 22Apr 24Apr 26Apr 28Apr 30May 2May 4May 6May 8May 10May 12May 14May 16May 18$1500$1750$2000$2250$2500$2750
Price data by
ETH price

In a recent feature, Decrypt showed the risks of using the Ethereum Name Service with large amounts of cryptocurrency because it can be used to identify the richest crypto owners. And much more.

Short addresses can be used to send all the currencies supported by Coinbase Wallet, including Bitcoin, Bitcoin Cash, Litecoin, Ethereum, Ethereum Classic, XRP, Stellar Lumens, Dogecoin and all ERC-20 tokens such as USDC and DAI.

Furthermore, the company also expanded the integration between the main Coinbase app and the Wallet app. Last March, the option to link accounts and transfer funds to Wallet was added. Starting today, users can also easily send crypto back to Coinbase from their Wallet—for storage, trading or cashing out to their bank.

Tips

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