By Prakash Hariramani, Senior Director, Product Management, and Bipul Sinha, Senior Product Manager
We launched Coinbase Pay to make it easier to fund your Coinbase Wallet, and now we’re expanding this ease to the broader crypto ecosystem by enabling web3 developers and businesses to integrate Coinbase Pay. MetaMask will be the first external wallet integration of Coinbase Pay.
Coinbase Pay is the powerful new way to purchase or transfer crypto to a wallet or dapp in a few clicks to be ready to dive into DeFi or purchase an NFT. Customers can use their existing crypto balances or purchase new crypto using the payment information saved to their Coinbase accounts, such as debit cards and bank accounts. This simplified fiat-to-crypto conversion makes the world of web3 far more intuitive and accessible.
Coinbase Pay is available today in Coinbase Wallet and Coinbase NFT, and will be rolled out to MetaMask’s 30 million users in the coming weeks.
Web3 developers looking to integrate Coinbase Pay into their dapps can contact us to apply for access to the SDK. More information on how to integrate Coinbase Pay is available on our developer documentation.
Coinbase Pay, an easier and trustworthy way to purchase crypto
The Problem
Despite the recent influx of investment in the cryptoeconomy, it’s still time-consuming, manual, and expensive to dive into DeFi, NFTs, and other dapps. Customers first have to convert their funds to crypto before sending it to a wallet or dapp. The existing solutions aren’t great: customers must make manual crypto sends, log into different dapps, and copy-and-paste long wallet addresses that leave them vulnerable to user error. Plus, they encounter substantial fees for each step. Additionally, existing solutions to buy crypto usually require individuals to enter their payment details and purchase new crypto as opposed to using existing balances.
The Solution
Coinbase Pay is an easy and trustworthy way for everyone to participate in the cryptoeconomy. Users can fund their non-custodial wallet like Coinbase Wallet or MetaMask with a few clicks using existing Coinbase balances or saved payment information. They can interact with dapps with peace of mind, knowing that their payment information remains secure on Coinbase.
Here’s how it works with MetaMask:
Visit your MetaMask wallet and click on the “Buy” button, then select Coinbase Pay
If this is your first time using Coinbase Pay then you will be prompted to sign-in to your Coinbase account. If you do not have a Coinbase account, you will need to create an account on coinbase.com, or from the iOS or Android apps
Once you have created your Coinbase account, you can sign in to use Coinbase Pay from MetaMask. You will only need to sign in once — returning customers won’t be prompted for their login details again
Select the crypto that you want to add to your MetaMask wallet. Choose your funding source: you can either select your saved payment methods or existing crypto balance on Coinbase
Review your purchase and click to confirm
The Benefits
Great user experience. Reduced development time.
With Coinbase Pay, developers can offer an easy and secure way for their users to buy crypto and transfer to a wallet or dapp. They’ll be able to increase exposure and adoption of their product amongst Coinbase’s 98M customers.
Drive conversion: Users won’t need to go through a lengthy onboarding process. They can use their saved payment methods from Coinbase, reducing friction in the experience. Coinbase Pay supports over 100 cryptocurrencies.
Lower operational overhead: With Coinbase Pay, businesses and developers don’t need to worry about verifying users with Coinbase accounts, who have already passed Coinbase’s robust KYC and fraud checks. Coinbase can handle fraud claims and customer support cases on your behalf.
Reduce development timelines: Add the Coinbase Pay widget into your dapp in a few hours. A single Coinbase Pay integration gives access to multiple payment methods across many regions. Documentation is available on Coinbase Cloud.
Get started today
Coinbase is dedicated to making the benefits of web3 more accessible to all without compromising security and efficacy.
Expand the benefit of seamless participation in the crypto economy to millions of people. Learn more about Coinbase Pay and get in touch with us to apply for access to the Coinbase Pay SDK. Read the documentation to get additional information on integrating the SDK.
was originally published in The Coinbase Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.
