Coinbase Allows Crypto Transactions on Two Networks

Coinbase allows crypto transactions on two networks.
These networks include Polygon and Solana.
Its users now have the chance to access web3 in a much simpler form.

Coinbase announces that it has begun allowing crypto transactions on two different networks. In particular, these two networks are the Polygon and Solana networks. With this move, Coinbase is improving access to Web 3.0.

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In detail, allowing crypto transactions on these two networks will help users access web3 in faster, cheaper, and easier conditions. Starting from now till over the next month, all eligible Coinbase customers will enjoy new perks.

These perks include the ability to receive and send MATIC and ETH on both networks. In addition, Coinbase users will also be able to send and receive USDC on Polygon as well as USDC on Solana.

From Blockworks tweet above, we can see that the crypto community is quite happy with this news. Meanwhile, some responses are hoping that Coinbase will soon allow crypto transactions over other networks as well.

For instance, one response in particular hopes that the next network Coinbase will announce crypto transactions on will be Avalanche. Coinbase also published a blog explaining in detail all the features that users will soon be experiencing.

To highlight, the blog states how this move allows Coinbase to reduce the effort, time, and high fees faced by their customers. Especially those who convert their fiat to crypto. Now, these customers can easily fund their Solana and Polygon wallets in minutes at a fraction of the cost.

The blog also adds that eventually, Coinbase will add support for more networks and more tokens. For now, users can begin to access more of web3 at a fraction of the cost and time. More so, they can even start to switch between networks in a few simple steps.

All in all, Coinbase aims to be at the top-of-the-mind when it comes to transferring crypto throughout the crypto economy. In fact, it aims to do so by enabling users to move funds via any network.

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Lauren Cole

A focused and vigilant storyteller for all things blockchain and cryptocurrency. Besides consuming every piece of literature about the metaverse, she can often be found at industry convections looking for the latest scoop.