Coinbase Launches Telegram and WhatsApp Crypto Transfers

Users of Coinbase Wallet can now transfer crypto through a link on Telegram and WhatsApp as the exchange makes an effort to take its services mainstream, Cointelegraph reported. In a recent blog post, the leading US exchange wrote that its customers have the option to send money on any platform via a simple link. Other apps that enable crypto transfers include iMessage, Facebook, Instagram and TikTok.

No fee on USDC transfers

The exchange does not charge any fee if the user sends USD Coin, a US dollar-pegged stablecoin it co-launched with Circle in 2018.

When the user clicks on the link, they are taken to their device’s app store to download Coinbase Wallet, which they can create in one click in case they haven’t downloaded it yet. The funds are returned to the sender if the recipient doesn’t claim them within two weeks.

Simple mode

Coinbase also offers a “simple mode” aimed at making transactions simpler for less experienced users. This mode only features buying, sending, and other basic functions.

Coinbase claims the new service will solve issues with international bank wire transfers, which frequently come with paperwork and high fees. What’s more, it can take up to several days to receive funds.

Ripple effect of Binance settlement

Coinbase fell seven spots in a recent ranking of the best crypto apps on the market. However, news of Binance’s settlement with the SEC has not impacted its share price. In fact, it has increased by more than 300% to $140 this year.

Binance remains at the top of the ranking, breaking a previous tie with Coinbase. Bybit holds second position, followed by Crypto.com and KuCoin. Huobi broke into the top 5, gaining two spots since the previous ranking.

OKX lost three rankings and is now at No. 6, followed by Blockchain Wallet. Coinbase slid hard from the top, losing seven spots to land at No. 8. Rounding out the top ten are BitMart and Kraken Pro.