25 February, 2024

Coinbase Wallet Now Allows Users To See Transaction Previews.

1 year ago

22 Nov, 2023

Coinbase, one of the largest players in crypto, now enables its wallet users to foresee the simulated outcome of their web3 transactions, the team announced on Twitter Today.

Coinbase wallet supports “hundreds of thousands” of crypto assets. It’s a separate wallet app that does not require you to open an account on Coinbase, and your private keys are stored on your device.

Coinbase wallet will let the users “explore web3 with greater confidence.” 

Our goal is to give you a better understanding of how a dapp or smart contract will interact with your wallet, providing you with greater peace of mind and helping you avoid interactions with bad actors.

read the tweet. 

Coinbase aims to provide an estimate of which assets will leave users’ wallets and any assets they’ll get back in return by automatically simulating the code that would execute when a user authorizes a transaction on an EMV-compatible network.

Additionally, users have been urged to double-check their transactions before signing. “At Coinbase Wallet, safety is our top priority and we’re working on even more features to keep you safe in web3,” Coinbase added.

Coinbase Wallet has a built-in dApp browser on its mobile app, making it simple to access popular dApps and DeFi protocols. It is helpful when choosing different networks to hold assets on, such as Polygon or Ethereum, since it enables users to send, receive, and bridge assets directly on the interface.

Coinbase shares fell 6% on Thursday as the fallout from FTX’s collapse continued to wreak havoc on the broader cryptocurrency market.

Despite the absence of direct FTX risks, the decline continues. Goldman Sachs said on Friday that Coinbase was sufficiently insulated from the FTX crash and had a highly liquid balance sheet. 

In a tweet last week, CEO Brian Armstrong clarified that Coinbase has no material exposure to FTX. Analysts, however, reduced their price target to $41 from $49 and maintained their “sell” rating, according to CoinDesk.