Coinbase

TL;DR: We’re providing developers with an open-source starter kit that can be used to kickstart dapp development for NFT minting sites. Happy building!

By JM Cho, software engineer for Coinbase Wallet

Last year, the NFT market experienced its best year yet — generating over $23 billion in trading volume with a floor market cap of $16.7 billion for the Top 100 NFT collections. With demand growing, NFT minting sites quickly became one of most popular types of dapps built in the crypto space. In comparison to projects launched on marketplaces like OpenSea, custom minting sites offered projects the ability to provide their community with a customized minting experience and retain full control over their distribution timeline and royalties.

For the teams behind these projects, creating an NFT minting site creates an opportunity to showcase their engineering capabilities, share important details about the project, and more deeply engage their community. However, the resulting demand for web3 developers who can ship end-to-end NFT minting experiences has far outpaced the number of resources that can teach how to build these dapps from scratch.

Enter: Coinbase’s NFT Dapp Starter Kit.

The NFT Dapp Starter Kit reflects Coinbase’s commitment to empowering developers by making it easier and faster to build for web3. This open-source kit embraces the collaborative nature of web3 by enabling developers of any level to easily launch new NFT projects. Compatible with both the Ethereum Mainnet and EVM-compatible chains, this resource will be particularly helpful for those who want to create a full-stack NFT project but lack experience writing Solidity or integrating a smart contract to a front-end.

Features included in this starter kit:

• Frontend web app integrated with a gas-efficient, audited ERC-721 smart contract
• Built-in multi-wallet modal to enable users to easily connect to your minting site with Coinbase Wallet or other major self-custody wallets
• NFT minting front-end component that allows users to specify mint number
• Explorer to view minted collection and tokens owned by connected user
• Gas-efficient pre-sale feature using merkle tree allowlists
• Token art pre-reveal feature and scripts to make this process seamless
• Support for Royalties on NFT transfers (EIP-2981 standard)
• Ability to reserve tokens for gifting or airdrops
• Art engine to create generative artwork and metadata with built-in examples
• Easy-to-run scripts to simplify various NFT contract interactions
• Hardhat unit tests to ensure correctness of contract
• Clear documentation and walkthrough tutorial of the kit and how to use it

Check out the NFT Dapp Starter Kit on GitHub and watch the video tutorial for instructions on how to start building your dapp. As always, we welcome your feedback or ideas in the Github repository for our team’s consideration and look forward to hearing from the community.

Happy Building!

Introducing our NFT Dapp Starter Kit for Developers was originally published in The Coinbase Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.

Tl;dr: As we continue to grow our presence in the UK and Europe, we have met with policymakers in the UK, established a regional Centre of Excellence in Ireland, strengthened operations in DACH with our first hire in Switzerland, and are expanding our footprint across additional European markets.

By Nana Murugesan,VP Business Development and International ; Tom Duff Gordon, VP International Policy

At Coinbase, our mission is to promote economic freedom, and we believe the best way to do that is by increasing crypto adoption in the world. That is why international expansion is fundamentally mission-aligned and continues to be a company priority.

As part of our recently announced two-pronged growth strategy, we are driving a concerted effort to strengthen our presence in Europe. This week, Coinbase CEO and Co-Founder, Brian Armstrong, was on the ground with other members of our executive team in London and Dublin and to meet with policymakers, partners, and key journalists. Brian also hosted our first-ever “Live from London” companywide global all hands.

It is great to hear about the UK’s ambitions to become a leading global hub for crypto assets, and we are encouraged by the thoughtful conversations with policymakers on how to turn that aspiration into a reality. The UK is currently the largest international market for Coinbase and we are excited by the momentum there as we look to grow our business.

Yesterday, the EU reached a landmark agreement on the Markets in Crypto Assets Regulation, “MiCA”, delivering the most comprehensive regulatory framework in the world and a single rule-book across 27 countries. This will provide important legal and regulatory certainty to the market, and raise standards across the industry. This is exciting — a harmonized single set of rules for the entire EU will enable us to invest, accelerate, and scale our growth efforts across the entire bloc.

Furthermore, the EU took a major step forward by reaching a sensible deal for implementation of the Travel Rule to tackle financial crimes and the transfer of illicit funds. The agreement takes a risk-based approach to verification requirements for crypto asset transfers to and from Self Hosted Wallets (SHWs). This is crucial for the protection of privacy and the development of Web3, for which SHWs are the gateway.

The EU is setting measured regulatory standards for crypto assets, which should provide renewed impetus for other jurisdictions to reflect on their own approaches to regulation and Travel Rule implementation.

During market downturns, the temptation can be to shy away from international expansion. We first entered the UK and EU during the bear market in 2015, a move that paid off significantly during the bull run a few years from then. We’ll keep building around the world, and doing everything we can to grow the cryptoeconomy.

We’re already on the ground in the UK, Ireland, and Germany. Additionally, we are in the process of expanding in France, Italy, Spain, and the Netherlands. In all of these markets, our goal is to launch the Coinbase suite of retail, institutional, and developer products.

In Switzerland, we are delighted that Peter Hofmann is going to establish our in-market presence, within the Central European build-out that we recently embarked on, spearheaded by DACH Regional Director Sascha Rangoonwala, based in our Germany office.

In Ireland, we established a regional Centre of Excellence (CoE) to drive business outcomes by working closely with regulators and internal teams including PED, Compliance, Legal and Policy. This new team will be led by Lory Kehoe, Head of EMEA, Market Operations.

We are also investing in the development of the crypto ecosystem. Coinbase Ventures, one of the most active corporate VCs by deal count, has invested in close to a dozen companies just in the UK including Euler, a lending protocol, and Qredo, a cross-chain protocol for asset managers and traders active in the digital asset markets. Coinbase Ventures is consistently evaluating investments to add to their portfolio, as well as potential acquisitions.

While markets will always be volatile, we believe the future is bright — and we’re excited to keep building that future with our customers and partners across the region.

Cheers,

Nana & Tom

Building Across Europe was originally published in The Coinbase Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.

Tl;dr: Coinbase is introducing its innovative VSCode extension created in collaboration with the Relay team, for the Relay GraphQL client, which is available for developer use now.

By Terence Bezman, Coinbase Senior Software Engineer

In collaboration with the Relay team at Meta, Coinbase has built a VSCode extension to integrate with the Relay language server which is now available for developer use.

The Relay framework is self-described as “the GraphQL client that scales with you”. As mentioned in a previous blog post, we currently use Relay to accelerate development for 300+ engineers on our core applications. Having a world class IDE experience is an important facet to improve engineer productivity — which is a top priority.

The extension allows for connection to the following:

• IntelliSense (autocomplete in your GraphQL tags)
• Go to Definition for fragments, fields, GraphQL types, etc.
• Diagnostics (Errors, Warnings)
• Hover type information
• GraphQL syntax highlighting

Motivation

Prior to this extension, syntax highlighting and IntelliSense were available by using any of the other existing GraphQL extensions in the VSCode Marketplace, so why did Coinbase decide to build another one?

From custom directives to its own compiler, Relay adds several features on top of GraphQL. A third-party editor integration would need to re-implement all of the work done in the Relay Compiler to achieve what we’ve built in this extension. This feature integrates directly into the Relay Compiler via a language server giving us the full context from the compiler. This level of context unlocks the following features in your editor:

• Showing Relay Compiler errors in your code
• Jump to definition on Relay Resolver fields
• Support for Relay directives

As Relay continues to build more features, Coinbase wants to remain at the forefront of this innovation and help set the tone for a better developer experience.

Maintainership

Part of what makes a great open source contributor is ownership and maintenance of the work. Coinbase has allocated engineering resources to create the first version of this VSCode extension and for continued support in the future. It’s important that the community understands that we do not view this as a one and done project, but a relationship we want to maintain for years to come.

Giving back to the community

Rather than be a passive consumer of Relay, Coinbase is working to be an active and engaged part of this community. Through our shared cooperation with Relay, we are working to understand the product at a deeper level — and leveraging that knowledge to assist the community in closing old issues and submitting pull requests to ensure the project’s success.

The Coinbase team is thankful for the amazing work the Relay team has done thus far to create a better developer experience with Relay. We want to honor the value this project has brought to our team and continue to innovate in an open-source way that benefits our community.

Announcing the Relay VSCode extension was originally published in The Coinbase Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.

Tl;dr: Today, Coinbase is announcing an easy and secure way for eligible customers to earn staking rewards on Solana (SOL).

By Thorsten Jaeckel, Senior Product Manager

At Coinbase, we’re focused on offering more ways for customers to earn crypto rewards. Today, we’re announcing the expansion of our staking offerings to include Solana (SOL) with plans to continue to scale our staking portfolio in 2022. Solana staking will be progressively rolled out to all eligible customers.

While it has been possible for individuals to stake Solana on their own, or through a delegated staking service, the process can be confusing and complicated. With today’s launch, Coinbase is offering an easy, secure way for any retail user to actively participate in the Solana network and earn rewards.

With Coinbase staking:

• Start earning automatically. Once you buy Solana, you automatically start earning rewards via staking. The current estimated annual return for Solana staking on Coinbase is ~3.85% APY.¹ You’ll receive rewards in your account every 3–4 days
• You will always maintain control. Your Solana always stays in your account; you just earn rewards while keeping your crypto safely on Coinbase. You can opt out any time you want²
• Watch your rewards grow. See your rewards accrue in your account
• Earn on as much as you want. Start earning with as little as $1
• Your peace of mind is our top priority. We take measures to mitigate the risks associated with staking and allow you to unstake anytime.

The Solana network sets the underlying return rate depending on the number of staking participants. Coinbase distributes the return to customers, less a commission.

You shouldn’t have to be an expert crypto trader to grow your crypto portfolio. Offering simple ways for our customers to earn crypto by participating in staking is an important step in building an open financial system. You can learn more about staking rewards on Coinbase at coinbase.com/staking.

To get started, simply buy Solana on Coinbase, or deposit Solana to your Coinbase account from an external wallet, and you’ll start earning rewards automatically.³

You can sign up for a Coinbase account here and download the iOS or Android app to start earning staking rewards today.

About Solana

Solana is a decentralized computing platform that uses SOL to pay for transactions. Solana aims to improve blockchain scalability by using a combination of proof of stake consensus and so-called proof of history. As a result, Solana claims to be able to support 50,000 transactions per second without sacrificing decentralization, and is one of the largest proof of stake blockchains by market cap.

Solana aims to enable smart contracts to allow developers to build a wide range of decentralized finance (DeFi) apps, new crypto tokens, games, and more. When users stake their crypto, they make the underlying blockchain of that asset more secure and more efficient. And in exchange, they are rewarded with additional assets from the network, which are paid out as rewards.

¹ The rewards rate is based on the estimated protocol rate, which is subject to change. Customers will be able to see the latest applicable rates directly within their accounts.

² No lock up periods imposed by Coinbase. You may request your staked assets be traded or transferred at any time, and Coinbase will use commercially reasonable efforts to execute, subject to protocol requirements.

³ Users can opt out at any time.

Coinbase Expands Staking Offerings to Include Solana was originally published in The Coinbase Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.

Tl;dr: We’re announcing two big updates to our Commerce platform: instant, free payments from Coinbase users to Commerce merchants, and seven new cryptocurrencies that can be used for payments through Commerce.

One of Coinbase’s goals is to become a platform that brings together consumers and businesses in the cryptoeconomy. By making cryptocurrency transactions easier and more accessible, we are continuing to drive towards this goal. One of our key strategic pillars is to build products that enable crypto as a new financial system. Coinbase Commerce supports this pillar by providing access to safe and convenient payments.

Instant and Free Payments:

Earlier this year, we launched instant and free payments from Coinbase users to Coinbase-Managed Commerce merchants. This new feature leverages Coinbase’s unique access to both Coinbase customers as payers and to merchants as payees to enable instant, free payments using off-chain transactions. An off-chain transaction involves an account-to-account transfer processed outside of the blockchain through a separate channel, which means we can offer this benefit to payers with Coinbase accounts. Off-chain transactions are cheaper and faster, allowing parties to swap currency until they are ready to settle.

Payer Benefits

Consumers have told us that fees are among the top reasons they choose not to pay in cryptocurrency. Following this launch, existing Coinbase users will be able to complete crypto payments for free if they are sending money to a Commerce merchant on our Coinbase-Managed product, and funds will be settled to the merchant instantly. This makes online and in-person payments even more seamless.

Merchant Benefits

One of the biggest drawbacks for merchants looking to accept cryptocurrency is price volatility. Instant transactions (10 minutes or less) along with auto conversions to fiat currency can help to ensure that you are receiving the right amount from the payer.

Nathan Scherotter, Vice President of Direct-To-Consumer at Commerce client Constellation Brands commented on the company’s excitement about the new capability for the Robert Mondavi NFT store: “Coinbase was the perfect partner for Robert Mondavi to launch our NFT project. The product, team and infrastructure allowed for seamless crypto transactions, automatic conversion and easy integration. Without Coinbase’s Commerce product we would not have been able to accept crypto for this project, and being able to offer instant and free payments is a huge win.”

More Crypto Payment Options on Commerce:

We’ve also added support for seven new crypto assets on the Commerce platform. Merchants and consumers now have more options for their crypto payments. We’ve been getting requests to enable payments with additional cryptocurrencies and we’re excited to add this new capability that will meet the needs of both sellers and payers.

We now support BTC, ETH, USDC, BCH, LTC, DOGE, DAI, USDT, APE, and SHIB. Merchants can easily manage which cryptocurrencies they want to accept, turn off the ones they don’t, and choose to hold or auto-convert any cryptocurrency balance to USD.¹

By removing friction and increasing flexibility within the crypto payment process on both sides of the ecosystem, we are taking another step towards mainstream adoption and leveraging the network effect of our brand. Log in to your account to explore these new features. You can also visit our Help Center or contact us if you need support.

Keep an eye out for more exciting Commerce updates to come later this year!

¹Only Coinbase-managed accounts are eligible for auto-conversion. Settlement limits apply for auto-conversions:

• $1M — BTC, ETH, USDC, DAI
• $500k — LTC, SHIB, USDT
• $250k — APE, BCH, DOGE

Coinbase Commerce Updates: Faster Payments, No Fees, More Currency Options was originally published in The Coinbase Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.

web3 on the platform of your choice — a closer look at Coinbase Wallet’s multi-platform approach

Tl;dr: The replatforming of Coinbase Wallet’s mobile app reflects our commitment to improving access to web3. In this blog, we discuss why the transition to React Native marks a critical turning point for both our users and our technical teams.

By Chintan Turakhia, Director of Coinbase Wallet Engineering, and Dan Coffman, Coinbase Wallet React Native Lead

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This week, we announced the debut of Coinbase Wallet’s new mobile iOS and Android apps built using React Native. This launch marks a critical inflection point for Coinbase Wallet and its users, and we’d like to shed light on the motivation and journey to get here.

Our goal with Coinbase Wallet is to be the default gateway to the web3 ecosystem. We debuted a mobile app on iOS and Android in 2017 to make the benefits of crypto, self-custody, and the nascent dapp ecosystem accessible to all — regardless of network or blockchain, country or currency, crypto savvy or crypto beginner.

In 2021, we saw an uptick in web3 engagement via desktop, driven largely by NFTs and DeFi dapps. This led us to launch a Coinbase Wallet browser extension using React, providing users with the option to engage with the crypto economy on a desktop platform. This also gave our product, engineering, and design teams an opportunity to entirely rethink how a self-custody product should look and feel for power users as well as newcomers to web3.

Launching the browser extension unfortunately meant that our engineering teams now needed to code the same features for three different platforms, since Wallet’s browser extension, iOS, and Android apps leveraged different codebases. And as a consequence, our shipping velocity on extension far exceeded our pace on mobile. We knew that this wasn’t a viable long term solution to keep up with the innovation in web3. In order to maximize efficiency of our developers and designers as well as ship a consistently reliable, safe, and simple multi-chain wallet on all platforms, we would need to migrate our mobile products into a common framework.

Enter React Native.

Build once, ship everywhere

We embrace the mantra of build once and ship everywhere. Replatforming Coinbase Wallet’s mobile apps to React Native means we can more easily ship new features to Wallet’s browser extension, iOS, and Android apps in tandem, streamlining workflows and allowing us to deliver the same great user experience across desktop and mobile.

In 2020, the Coinbase app successfully transitioned from native mobile to React Native, a software framework which allows us to ship the same TypeScript code and React UI on both iOS and Android. Our goal since then was simple: leverage those paved roads to ship a highly performant mobile app while affording users a consistent design experience using the Coinbase Design System (CDS). We were able to quickly leverage paved roads including react navigation, deeplinking, and configuration in code.

By unifying our Coinbase Wallet mobile app and browser extension into a single data layer that handles all business logic, we can continue to ship products quickly across three platforms. We moved away from class-based RxJS and shifted to functional context-based repos to enable greater leverage of React core libraries. The additional challenge was migrating the data layer while continuing to build and ship features on the Extension. Web3 pauses for nobody, and so we carefully orchestrated the replacement of our entire Wallet engine while still flying.

Wallet will also be able to bring new features to market in a fraction of the time. A recent example of this is our DeFi portfolio, which took two months to build for the Wallet browser extension and only five days to port to our new React Native mobile app. The majority of complex logic resided in the data layer, and since these are now shared between all platforms, we were able to build it once and ship it to all platforms. Only client UI for mobile was remaining, and fortunately, with a common CDS, porting UI elements to mobile was simple. Thanks to these types of efficiencies, we expect to see the velocity at which Wallet launches new products continue to increase in the months to come.

Not only will users benefit from Wallet delivering features faster, the mobile experience as a whole will be snappier, more responsive, and more reliable.

Bridging the gap

Several of the features we released over the past year were built for the Wallet extension and have yet to be introduced to the Wallet mobile app. With our migration to React Native, we’re launching now ready to launch several great features in the mobile app for the first time, including support for storing, sending, and receiving Solana and SPL tokens, real-time price charts, an in-app dapp browser, token management, and a DeFi portfolio view.

How do you port 110+ features on a new React Native tech stack, while adding new functionality to the existing Chrome Extension platform all the while maintaining the existing Native mobile product? The common data layer was a force multiplier which enabled the team to keep building features for extension which would seamlessly port to RN mobile. We also prioritized feature parity of our existing mobile product while maintaining a high bar for quality and performance through benchmarking.

The team built foundations for a scalable and extensible performance monitoring system to measure client-side performance of the new app, including page load, UI thread blocking time and app responsiveness for every commit. We optimized loading and screen render times using a bespoke incremental rendering solution, memoizing components, and optimizing expensive hook computations. We also shipped countless improvements to the data layer through batching state updates and optimizing caching strategies, which benefited asset and NFT loading on both the new react native app and extension.

More than a fresh coat of paint

If you’ve noticed the new look-and-feel of the mobile app, it reflects much more than a fresh coat of paint. Coinbase Wallet is now an integral part of the Coinbase Design System.

Coinbase’s Design System is a robust architecture of reusable design and motion components built within React. We’ve found that the CDS enables our product, engineering, and design teams to focus on building high-quality product experiences while ensuring a consistent experience for users across Coinbase products. Beautiful design elements, like the motion-driven “warm welcome” that greets new users, are just a small preview of how we are providing a visually rich experience for a global audience.

Since Coinbase Wallet’s browser extension was built using this design system, desktop users will now enjoy a more consistent experience within Wallet’s mobile app. As an added bonus of this consistent approach, users who are familiar with Coinbase’s flagship app will immediately feel at home in Coinbase Wallet’s new mobile experience.

Another exciting result of this work is Wallet users now have an opportunity to personalize their mobile experience. Our research showed that users prefer dark mode, so the mobile app will open in dark mode by default. We’re also adding the ability to select a theme color for Coinbase Wallet, which can be selected in the Settings tab.

Looking ahead

The new Coinbase Wallet mobile app began rolling out globally across iOS and Android this week, and we expect the rollout to be complete over the next few weeks. Make sure your app is up to date by visiting the App Store on iOS or Google Play on Android, and follow @CoinbaseWallet on Twitter for the latest news and updates.

Coinbase Wallet is a self-custody wallet providing software services subject to Coinbase Wallet Terms of Service and Privacy Policy. Coinbase Wallet is distinct from Coinbase.com, and private keys for Coinbase Wallet are stored directly by the user and not by Coinbase. Fees may apply. You do not need a Coinbase.com account to use Coinbase Wallet.

web3 on the platform of your choice — a closer look at Coinbase Wallet’s multi-platform approach was originally published in The Coinbase Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.

Tl:dr:

• Coinbase Derivatives Exchange (formerly FairX) will launch its first listed crypto derivatives product on June 27, 2022: Nano Bitcoin futures contract (BIT), with each contract sized at 1/100th of a bitcoin.
• Upon the June 27th launch, BIT futures will be accessible for trading via several leading third-party retail brokers and clearing firms.
• Coinbase Financial Markets is awaiting approval for its license to operate a futures commission merchant (“FCM”) to be able to offer futures directly to our clients.

By Boris Ilyevsky, Head of Coinbase Derivatives Exchange

Coinbase Derivatives Exchange, a CFTC regulated Designated Contract Markets (DCM) futures exchange, will launch its first listed crypto derivatives product on June 27: Nano Bitcoin futures (BIT). Initially, BIT futures will be available for trading via several leading broker intermediaries, including retail brokers EdgeClear, Ironbeam, NinjaTrader, Optimus Futures, Stage 5, and Tradovate, and clearing firms ABN AMRO, ADMIS, Advantage Futures, ED&F Man, Ironbeam and Wedbush. Coinbase is awaiting regulatory approval on its own futures commission merchant (FCM) license so we can offer margined futures contracts directly to our clients.

Transforming FairX into Coinbase Derivatives Exchange married a world-class team with deep expertise across product development, market structure, compliance, market-leading exchange technology and a proven ability to deliver listed futures, with Coinbase’s commitment of building products that are easy-to-understand, fair, accessible, efficient, and transparent.

Around-the-clock trading, lower upfront investment, leverage and the ease of going long and short are some reasons why futures are a popular product for traders. Our BIT Futures contract will offer the same benefits but is built with the retail trader in mind. At 1/100th of the size of a Bitcoin it requires less upfront capital than traditional futures products and creates a real opportunity for significant expansion of retail participation in US regulated crypto futures markets.

The crypto derivatives market represents $3Tn* in volume worldwide and we believe that additional product development and accessibility will unlock significant growth. It’s more important than ever to bring the benefits of futures to a broader market so that all types of traders can access regulated U.S. crypto derivatives markets to express their views or hedge their underlying crypto assets.

To become one of our supporting brokers, market makers, clearing firms, or vendors, please email futures.sales@coinbase.com.

*January 2022, https://www.ft.com/content/364dee59-fb51-400b-acd2-808d4ec41ab3

Coinbase Derivatives Exchange to make nano bitcoin futures available through leading brokers was originally published in The Coinbase Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.

TL;DR: Over the next month, eligible Coinbase customers will be able to send and receive ETH, MATIC, and USDC on Polygon, and USDC on Solana. The Polygon integration marks the first time Coinbase has enabled the ability to send and receive these assets on an L2.

By Nemil Dalal, Director, Product Management and Justin Blumenthal, Product Manager

Sending crypto on Ethereum has become increasingly expensive for individual users and institutions. As one of the most robust programmable blockchains, Ethereum has the largest ecosystem of developers, products, and services. But as blockchain usage has surged, gas fees (fees paid to miners to validate transactions on Ethereum) have skyrocketed, pricing out millions of would-be users. While these high gas fees have caused more affordable networks like Polygon and Solana to increase in popularity over the past 18 months, the process of funding wallets on these networks can be complex and time-consuming.

Coinbase is reducing the time, effort, and high fees of today’s experience by letting customers convert fiat to crypto and fund their Polygon and Solana wallets in minutes and at a fraction of the cost. Over the next month, eligible Coinbase and Coinbase Exchange customers will be able to send and receive ETH, MATIC, and USDC on Polygon, and they’ll be able to send and receive USDC on Solana.¹ Over time, we’ll add support for more tokens and more networks.

Access more of web3 at a fraction of the cost and time

On Ethereum, it can cost over $10 in gas fees to send small amounts of crypto from an exchange like Coinbase to a self-custodial wallet like Coinbase Wallet, and it can cost over $100 in gas to lend out larger amounts of crypto on protocols like Aave. This has driven a massive increase in development and activity on alternative networks, with over 30% of DeFi Total Value Locked now sitting outside of Ethereum. However, it’s not simple to move crypto across networks. Users must purchase crypto on an exchange, send it to their self-custodial wallet, then use a bridge to send their crypto to a different chain. It can take approximately 20 minutes, $50 in gas, and 10 protracted steps to purchase a NFT on Polygon via OpenSea. Now, Coinbase customers can convert their fiat to ETH, MATIC, and USDC and fund their Polygon wallet at a fraction of the cost and time, making it simple to explore more of web3.

Institutional traders are increasingly active across multiple networks and dapps, but the process of bridging between networks is inefficient for them as well. Multichain asset support via Coinbase Exchange allows for seamless deposits and withdrawals across Ethereum, Polygon, and Solana, with trading and settlement in one order book regardless of the chain used to deposit funds. We’ve removed the complexity of managing different balances of a single asset across networks with one comprehensive, unified balance.

Switch networks in a few simple steps

We’ve made it easy for both individual and Coinbase Exchange customers to send and receive on Polygon and Solana. Here’s how it works:

For individual customers using the Coinbase mobile app or coinbase.com:

• Decide which self-custody wallet you’ll use to receive your crypto. If you don’t have a self-custody wallet, it only takes a few seconds to get started with Coinbase Wallet. Make sure you’re choosing a self-custody wallet that supports either Polygon or Solana, depending on which network you plan to select. Keep in mind that all sends to crypto addresses are irreversible. Coinbase cannot retrieve funds sent to the incorrect address or using the incorrect network
• Open your Coinbase mobile app or log into coinbase.com and tap ‘Pay’
• Tap ‘Send’, then select ETH, MATIC, or USDC. Enter the amount you want to send
• Enter your self-custody wallet address. If you’re using Coinbase Wallet, find your address by tapping ‘Receive’, then select the token you’re trying to receive and copy your address
• Preview your send, tap the arrow next to Network, and select your preferred network
• Complete your send

For users purchasing or transferring crypto from Coinbase using their Coinbase Wallet mobile app*:

• Navigate to the Settings tab and select ‘Buy or Transfer’
• Select ETH, MATIC or USDC and enter the amount you’d like to buy or transfer from Coinbase
• Tap the network icon in the top right corner of the app. Choose your preferred network
• Select ‘Continue’ to preview the details of your purchase or transfer, then tap ‘Confirm’ to complete your purchase

*If you’re using the new version of the Coinbase Wallet mobile app, refer to the instructions below.

For users purchasing or transferring crypto from Coinbase using their Coinbase Wallet browser extension:

• Click the ‘Buy’ icon (+) and choose ‘Add crypto with Coinbase Pay’
• Select ETH, MATIC or USDC and enter the amount you’d like to buy or transfer from Coinbase
• Select the network field to choose your preferred network
• Preview the details of your purchase or transfer, then click ‘Confirm’

For Coinbase Exchange customers*:

• From exchange.coinbase.com, choose Withdraw
• Select ETH, MATIC, or USDC and Withdraw to a Crypto Address
• Select the Network field and choose your preferred network
• Enter the wallet address you wish to withdraw to, and confirm your network selection
• Enter the withdrawal amount, and complete your withdrawal

*Alternatively, use your API key access and latest API documentation to add the network field to your deposits or withdrawals.

Looking Ahead

Coinbase aims to be the platform for transferring crypto throughout the cryptoeconomy by enabling users to route funds to any network, making it easier and cheaper to access web3 so that billions of people can power their financial lives with crypto rails. We’re excited to build on this foundation by adding support for more networks and assets to make it simpler for users to dive deeper into web3.

¹Multichain network availability limited by jurisdiction.

Send and receive crypto on multiple networks, starting with Polygon and Solana was originally published in The Coinbase Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.

Tl:dr

• Later this year, we’ll begin sunsetting Coinbase Pro to migrate all advanced trading into one unified Coinbase account, bringing customers access to popular features like staking, Borrow, dapp wallet, and Coinbase Card from a single platform balance.
• Advanced Trade on Coinbase.com is already available globally, with the same volume-based fees as Coinbase Pro.
• Over the coming weeks, we’ll be rolling out Advanced Trade in the Coinbase mobile app along with other improvements to make Advanced Trade an upgrade from Coinbase Pro for every customer.
• We’ll notify customers again when we are ready to share concrete dates for sunsetting Coinbase Pro.

by Dan Stone, Group Product Manager and Andrew Herman, Engineering Manager

We launched Coinbase Pro in 2018 as a tool for advanced traders to conduct technical analysis and place trades by interacting directly with the Coinbase Exchange order book. Customers have told us how they love the power and singular focus of Coinbase Pro for buying, selling, and swapping crypto.

Meanwhile, on Coinbase.com and the Coinbase app, we have been adding advanced crypto features to foster deeper engagement with the cryptoeconomy, such as staking, Borrow, dapp wallet, and Coinbase Card, in addition to improvements to our core trading experience.

As a result, many customers rely on Coinbase Pro and Coinbase.com for overlapping sets of features, and often experience friction when transferring balances back-and-forth between the two products.

To resolve this friction and offer customers the best of both worlds, we have rebuilt the full Coinbase Pro advanced trading experience within the Coinbase mobile app and Coinbase.com. As we continue to add more features to Advanced Trade on Coinbase, we will sunset Coinbase Pro later this year.

World class trading on one platform

After developing a better alternative for our Coinbase Pro customers, we released Advanced Trade on Coinbase.com earlier this year. Advanced Trade is equipped with all the capabilities of Coinbase Pro, but upgraded with the most seamless Coinbase experience to make informed trades, faster and easier.

Advanced Trade offers more in-depth technical analysis, advanced real-time order books, and charting powered by TradingView to help customers research and analyze crypto markets before making investment decisions.

It also offers improved order flows to make it easier and faster to place market, limit, or stop limit orders directly on Coinbase Exchange, which offers one of the deepest pools of liquidity.

All this is within a single account balance so customers can access automated staking rewards to earn up to 5% APY on eligible crypto balances like USDC, ETH2, and DAI.

Advanced Trade is also augmented by additional Coinbase-wide security infrastructure like 24/7 monitored cold storage facilities, USD held at FDIC-insured institutions, YubiKey for mobile, and vaults.

More Advanced Trade updates, coming soon

We’re excited to continue building Advanced Trade as an upgraded experience for Coinbase Pro customers, with mobile app support now launching.

We’ll also be adding mobile stop limit orders, additional charting and order form upgrades, and full REST API & WebSocket support soon. Looking forward, Advanced Trade will serve as a hub for our most advanced traders, improving even more as we launch new features. Until then, existing customers will still have access to Coinbase Pro.

Over the next several months, we will continue to launch new upgrades to Advanced Trade before beginning to sunset Coinbase Pro. We will share updates as we do so. For customers holding funds on Coinbase Pro, there is no action to take- funds will remain safe on Coinbase. Meanwhile, customers are welcome to begin using Advanced Trade on the Coinbase mobile app and Coinbase.com.

To get started, customers will need to fund their Coinbase accounts if they haven’t already by depositing funds or transferring funds directly from Coinbase Pro by following these steps:

1. Log into Coinbase Pro and select “Portfolios”
2. Choose “Withdraw” on the top right
3. Select the cryptocurrency you want to transfer, or “All Portfolios” to transfer all assets to Coinbase.com
4. Choose “Transfer to Coinbase”
5. Then visit Coinbase.com/advanced-trade or tap the “Advanced Trade” drop down from the Trade tab in the Coinbase mobile app to get started with Advanced Trade

To learn more about Advanced Trade, check out the latest tips and tutorials on Coinbase Learn, and follow us on Twitter @Coinbase for more updates.

Hello Advanced Trade, goodbye Coinbase Pro was originally published in The Coinbase Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.

Making web3 more accessible and intuitive — meet the new Coinbase Wallet mobile app

By Sid Coelho-Prabhu, Director of Product Management, and Jeff Hinojosa, Product Manager

Tl;dr We have completely redesigned the Coinbase Wallet mobile app to be more intuitive and visually-compelling. With best-in-class multichain support that now includes Solana, one tap access to view your DeFi positions, dark mode, and real time price charts, the new Wallet app puts the power of web3 in your pocket.

Coinbase’s self-custody wallet first arrived as a mobile app in 2017. Since then, crypto has evolved into a rapidly-expanding app platform that spans multiple chains. Today we’re excited to introduce the next chapter for Coinbase Wallet with an entirely redesigned mobile app, built from the ground up to be intuitive, user-friendly, and purpose-built for the multichain world of web3.

The all-new app puts the power of web3 in your pocket and provides a unified experience for all of your NFTs, tokens, and favorite decentralized apps (dapps). The new mobile experience starts rolling out today, with more users gaining access in the coming weeks.

Familiar, yet distinct

For the new Coinbase Wallet mobile app, we leaned into our foundational design principles to build a simple, refined user experience that feels immediately accessible, intuitive, and familiar. For example, the quick action buttons on the home screen provide one-tap access to DEX swaps, sending or receiving crypto, and funding your Coinbase Wallet with Bitcoin, Ethereum, Solana, and hundreds of other assets using a debit card or bank account.

The all-new dapp browser aims to make the ever-growing world of dapps more accessible. The new dapp browser provides a curated list of popular dapps from all networks that Coinbase Wallet supports, making it easier to find and explore new dapps. Now you can discover your new favorite DeFi protocol, play-to-earn game, and web3 social dapp with just a few taps. The dapp browser also adds support for one of our most requested features: tabs. Switch between your favorite dapps with just the tap of a button without losing your place. Best of all, you can move between dapps on different networks and Wallet will handle the switching in the background.

We launched dark mode for the Coinbase app last year, and we’ve heard from many of our users that it quickly became their preferred visual style. Based on feedback and learnings from Coinbase’s dark mode, not only are we bringing dark mode to the new Coinbase Wallet mobile app, but we are going a step further with dark mode by default.

We are able to bring features like these to the redesigned Wallet mobile app in large part thanks to a key engineering decision to rebuild the entire mobile app from the ground up in React Native. By re-platforming to React Native, future features and product enhancements can arrive on both the Wallet mobile app and Chrome Extension at the same time.

The best wallet on extension and mobile

In 2021, we introduced Coinbase Wallet extension, a browser extension for Google Chrome and Chromium browsers like Brave. Some of the new features we released over the past year have been available in Wallet extension, but not the Wallet mobile app. With the redesigned mobile app, we are excited to re-introduce some great features and bring them to our mobile self-custody experience for the first time:

• NFT collection — Manage your Ethereum and Polygon NFTs with ease. See the latest floor prices, send your NFTs to a friend, and even hide airdropped spam assets that you don’t want to see.
• Solana support — With support for sending, receiving, and storing SOL and SPL tokens, you no longer need multiple wallet apps for your multichain web3 activity
• DeFi portfolio — The new DeFi tab on the home screen makes it easy to view your DeFi activity, deposits, and balances on the Ethereum network. Support for more networks is coming soon
• Price charts — Real-time price charts make it easy for you to stay on top of the crypto markets and never miss the right time to make a trade
• Support for 25 languages — With support for more languages and local currencies, Coinbase Wallet is making self-custody accessible to billions of people around the world

Web3 in your pocket, coming soon

The new Coinbase Wallet mobile app begins rolling out across iOS and Android today, and we expect the rollout to be complete over the next few weeks. Already have the Coinbase Wallet mobile app? Make sure your app is up to date by visiting the App Store on iOS or Google Play on Android.

You can easily import your existing Ethereum or Solana self-custody wallet from any other wallet app or extension without any network fees.

We look forward to hearing from our users and the web3 community about their experiences using the redesigned Coinbase Wallet app. Make sure to follow @CoinbaseWallet on Twitter for the latest news and updates.

Coinbase Wallet is a self-custody wallet providing software services subject to Coinbase Wallet Terms of Service and Privacy Policy. Coinbase Wallet is distinct from Coinbase.com, and private keys for Coinbase Wallet are stored directly by the user and not by Coinbase. Fees may apply. You do not need a Coinbase.com account to use Coinbase Wallet.

Making web3 more accessible and intuitive — meet the new Coinbase Wallet mobile app was originally published in The Coinbase Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.