Crypto Shuttle News

Tag: Pay

  • Be web3-ready in a few clicks with Coinbase Pay | by Coinbase | Mar, 2022

    Be web3-ready in a few clicks with Coinbase Pay | by Coinbase | Mar, 2022

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    By Prakash Hariramani, Senior Director, Product Management, and Bipul Sinha, Senior Product Manager

    Today, we are introducing Coinbase Pay, the easiest way for Coinbase users to fund their Coinbase Wallet from the Chrome browser extension and explore web3.

    Over the past year, DeFi, NFTs, and other web3 services have seen tremendous adoption. However, a key step in being able to access and use these services — funding a self-custody wallet — is a cumbersome process that involves multiple steps, switching between apps, and manual transfers.

    Coinbase Pay eliminates these steps, and makes it easy and intuitive for anyone to participate in DeFi or purchase NFTs, in just a few clicks.

    Cash. Click. Crypto.

    Before Coinbase Pay, users who wanted to add funds to their Coinbase Wallet from the browser extension needed to navigate to Coinbase.com, sign in to their account, copy-paste their wallet address, and manually transfer funds from their Coinbase account.

    The process was not only cumbersome, but also left the user vulnerable to user error. For example, if funds were accidentally sent to the wrong wallet address, they would be irretrievable.

    Coinbase Pay makes the process faster, easier, and more secure than ever before. All you need to do is select “Add crypto with Coinbase Pay” when you want to add crypto to your Coinbase Wallet extension.

    Next, you simply select the currency you want to add to your wallet, specify the amount, confirm the transaction–and that’s it. No more switching between apps, copy-pasting addresses, and manually transferring funds.

    Coinbase users based in the US and Canada can currently use their debit cards and bank accounts for transfers, with more payment options enabled globally soon.

    First-time users of Coinbase Wallet will need to link their self-custody wallet to their Coinbase account before being able to use Coinbase Pay.

    Making it even easier to access the world of DeFi, NFTs, and more

    At Coinbase, our mission is to increase economic freedom in the world. A key part of realizing this mission is building crypto products and services that are easy-to-use and accessible. Coinbase Pay makes it even easier for users to get web3-ready with Coinbase Wallet.

    With the Coinbase Wallet extension, your Chrome browser can securely interact and engage with all manner of web3 applications. Kickstart your NFT collection, earn yield through DeFi lending protocols, and grow your crypto portfolio with hundreds of thousands of tokens supported via decentralized exchanges (DEXes).

    And now you can engage with dapps with greater peace of mind, knowing that your payment credentials remain safely stored within Coinbase.

    Looking forward

    We are continuing to build new features into Coinbase Wallet to make it the most user-friendly and accessible self-custody wallet in the world, making it easier for more users to enter the world of web3. We will also continue to expand Coinbase Pay to bring the benefits of seamless fiat onramp to the crypto ecosystem. Stay tuned for more updates.

    Make sure to follow us on Twitter for the latest news about Coinbase Wallet and Coinbase Pay.

    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.



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  • How Salvadorans Will Use Bitcoin To Pay For Their Bills: Bitrefill Launches Payment Service

    How Salvadorans Will Use Bitcoin To Pay For Their Bills: Bitrefill Launches Payment Service

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    Bitrefill, the startup that offers Bitcoin-funded prepaid cards for different services worldwide, launched a new bill-payment service that allows Salvadorans to pay for multiple basic needs using Bitcoin. The company made the announcement during the three-day conference Adopting Bitcoin carried in El Salvador, which brought together “the Bitcoin and Lightning community”.

    Bitcoin has been a legal tender in El Salvador since September 7th, but many businesses were not sticking to the requirement of accomodating the digital coin as a payment method into their operations, Bitrefill’s CEO noted. Some have even stated they rather lose sales. Bitrefill aims to offer a solution for businesses so they can easily adapt to using Bitcoin and ease their current worries.

    Related Reading | There Are More People Using Bitcoin Wallets Than Bank Accounts, Says El Salvador President

    Bitrefill’s bill-payment method will allow Salvadorians to pay for 150 different services using Bitcoin, including internet, water, insurance, loans, taxes, mortgage, social security services, university expenses, and others. They also allowed payments overseas. 12 services are available at the moment on the website, and they will be adding the rest over the next few weeks.

    The platform will be using Bitcoins Lightning Network and on-chain transactions, which allows low fees. “El Salvador can now live entire on Bitcoin”, stated the company.

    The feature is offered in alliance with Puntoexpress, a local payment platform. The payment process was simplified for the users so they only need to provide an email address to redeem a voucher code and receipt.

    El Salvador, A Bitcoin Land

    Bitrefill reported they have processed 187,000 purchases in El Salvador during 2021, and 88% come from the country’s capital, San Salvador. There was a peak of 20,000 payments in September when the ‘Bitcoin law’ went into effect.

    The majority of Salvadorians reportedly use the Chivo digital wallet, an app created by the government, as the preferred payment method for Bitrefill purchases.

    Bitrefill’s CEO, Sergej Kotliar, stated that they now have headquarters established in El Salvador, a manager in the country, and they are hiring for all roles to cover the company’s needs. He shared his strategy is to be directly involved in the country by being present and maintaining contact with people who provide him with different approaches and information that the company can use to design other services.

    The CEO thinks El Salvador could become an example model that other countries could follow. The company also stated in a tweet:

    The most important part is that the 80% of unbanked people can now pay for almost everything online, products, services, bills, from the comfort of their home (or their relatives in the USA).

    El Salvador’s adoption of Bitcoin has been a bumpy road. However, the Chivo Wallet surpasses 2.2 million users a few weeks after its launch, gaining around 8,500 new users per hour and reaching 3 million later on. The citizens received $30 each as an incentive for downloading the app, but some reported to Reuters they had problems using it and making withdrawals.

    The government remains optimistic, although challenges lay ahead. We are yet to see if innovation and good strategies can help close the gap between the government’s vision and the tension around Salvadorians.

    Related Reading | El Salvador Calls Another Bitcoin Dip With $25 Million Purchase

    Bitcoin
    Bitcoin trading at $60,714 in the daily chart | Source: BTCUSD on TradingView.com

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  • Alchemy Pay (ACH) and Rai Reflex Index (RAI) are now available on Coinbase

    Alchemy Pay (ACH) and Rai Reflex Index (RAI) are now available on Coinbase

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    Starting today, Alchemy Pay (ACH) and Rai Reflex Index (RAI) are available on Coinbase.com and in the Coinbase Android and iOS apps. Coinbase customers can now trade, send, receive, or store ACH and RAI in most Coinbase-supported regions, with certain exceptions indicated in each asset page here. Trading for these assets is also supported on Coinbase Pro.

    Alchemy Pay (ACH) is an Ethereum token that powers Alchemy Pay, a platform that enables payments using a wide variety of fiat and cryptocurrencies. Fees are paid using the ACH token and users can earn ACH rewards for purchases.

    Rai Reflex Index (RAI) is an Ethereum token that aims to maintain a stable value. The RAI-USD exchange rate is determined by supply and demand while the protocol that issues RAI tries to stabilize its price by constantly de- or re-valuing it. The supply and demand mechanic plays out between two parties: SAFE users (those who generate RAI with their ETH) and RAI holders (those who hold, speculate on or use RAI in other protocols and apps).

    One of the most common requests we hear from customers is to be able to buy and sell more cryptocurrencies on Coinbase. We announced a process for listing assets, designed in part to accelerate the addition of more cryptocurrencies. We are also investing in new tools to help people understand and explore cryptocurrencies. We launched informational asset pages (see ACH and RAI), as well as a new section of the Coinbase website to answer common questions about crypto.

    Customers can sign up for a Coinbase account here to buy, sell, convert, send, receive, or store ACH and RAI today.

    Please note: Coinbase Ventures may be an investor in the crypto projects mentioned here, and additionally, Coinbase may hold such tokens on its balance sheet for operational purposes. A list of Coinbase Ventures investments is available at https://ventures.coinbase.com/. Coinbase intends to maintain its investment in these entities for the foreseeable future and maintains internal policies that address the timing of permissible disposition of any related digital assets, if applicable. All assets, regardless of whether Coinbase Ventures holds an investor or Coinbase holds for operational purposes, are subject to the same strict review guidelines and review process.

    This website contains links to third-party websites or other content for information purposes only (“Third-Party Sites”). The Third-Party Sites are not under the control of Coinbase, Inc., and its affiliates (“Coinbase”), and Coinbase is not responsible for the content of any Third-Party Site, including without limitation any link contained in a Third-Party Site, or any changes or updates to a Third-Party Site. Coinbase is not responsible for webcasting or any other form of transmission received from any Third-Party Site. Coinbase is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement, approval or recommendation by Coinbase of the site or any association with its operators.

    Crypto is a new type of asset. Besides potential day to day or hour to hour volatility, each crypto asset has unique features. Make sure you research and understand individual assets before you transact.

    All images provided herein are by Coinbase.

    Alchemy Pay (ACH) and Rai Reflex Index (RAI) are now available on Coinbase was originally published in The Coinbase Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.

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  • Alchemy Pay (ACH), PlayDapp (PLA) and Rai Reflex Index (RAI) are launching on Coinbase Pro

    Alchemy Pay (ACH), PlayDapp (PLA) and Rai Reflex Index (RAI) are launching on Coinbase Pro

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    Starting Today, Monday August 2, transfer ACH, PLA and RAI into your Coinbase Pro account ahead of trading. Support for ACH, PLA and RAI will generally be available in Coinbase’s supported jurisdictions with certain exceptions as indicated in each asset page here. Trading will begin on or after 9AM Pacific Time (PT) Tuesday August 3, if liquidity conditions are met.

    One of the most common requests we receive from customers is to be able to trade more assets on our platform. Per the terms of our listing process, we anticipate supporting more assets that meet our standards over time. Most recently we have added trading support for Harvest Finance (FARM) Fetch.ai (FET) Paxos Standard (PAX) and Polymath Network (POLY), Clover Finance (CLV), Mask Network (MASK), Rally (RLY), BarnBridge (BOND), Livepeer (LPT), Quant (QNT), Chiliz (CHZ) Keep Network (KEEP), Polkadot (DOT), Solana (SOL), Gitcoin (GTC), Enzyme Token (MLN), Amp (AMP), Dogecoin (DOGE), Internet Computer (ICP), Cartesi (CTSI), iExec (RLC), Mirror Protocol (MIR), Tellor (TRB), Tether (USDT), Ampleforth Governance Token (FORTH),1inch (1INCH), Enjin Coin (ENJ), NKN (NKN) and Origin Token (OGN).

    Starting Today, Monday August 2, we will begin accepting inbound transfers of ACH, PLA and RAI to Coinbase Pro. Trading will begin on or after 9AM Pacific Time (PT)Tuesday August 3, if liquidity conditions are met.

    Once sufficient supply of ACH, PLA and RAI is established on the platform, trading on our ACH-USD, PLA-USD and RAI-USD order books will launch in three phases, post-only, limit-only and full trading. If at any point one of the new order books does not meet our assessment for a healthy and orderly market, we may keep the book in one state for a longer period of time or suspend trading as per our Trading Rules.

    We will publish tweets from our Coinbase Pro Twitter account as each order book moves through the phases.

    Alchemy Pay (ACH) is an Ethereum token that powers Alchemy Pay, a platform that enables payments using a wide variety of fiat and cryptocurrencies. Fees are paid using the ACH token and users can earn ACH rewards for purchases.

    PlayDapp (PLA) is an Ethereum token that powers PlayDapp, a blockchain gaming platform and non-fungible token (NFT) marketplace. PLA acts as the primary token for processing transactions on PlayDapp. Game developers can also receive PLA when users make in-game purchases.

    Rai Reflex Index (RAI) is an Ethereum token that aims to maintain a stable value. The RAI-USD exchange rate is determined by supply and demand while the protocol that issues RAI tries to stabilize its price by constantly de- or re-valuing it. The supply and demand mechanic plays out between two parties: SAFE users (those who generate RAI with their ETH) and RAI holders (those who hold, speculate on or use RAI in other protocols and apps).

    ACH, PLA and RAI are not yet available on Coinbase.com or via our Consumer mobile apps. We will make a separate announcement if and when this support is added.

    You can sign up for a Coinbase Pro account here to start trading. For more information on trading ACH, PLA and RAI on Coinbase Pro, visit our support page.

    ###
    Please note: Coinbase Ventures may be an investor in the crypto projects mentioned here, and additionally, Coinbase may hold such tokens on its balance sheet for operational purposes. A list of Coinbase Ventures investments is available at https://ventures.coinbase.com/. Coinbase intends to maintain its investment in these entities for the foreseeable future and maintains internal policies that address the timing of permissible disposition of any related digital assets, if applicable. All assets, regardless of whether Coinbase Ventures holds an investor or Coinbase holds for operational purposes, are subject to the same strict review guidelines and review process.
    This website contains links to third-party websites or other content for information purposes only (“Third-Party Sites”). The Third-Party Sites are not under the control of Coinbase, Inc., and its affiliates (“Coinbase”), and Coinbase is not responsible for the content of any Third-Party Site, including without limitation any link contained in a Third-Party Site, or any changes or updates to a Third-Party Site. Coinbase is not responsible for webcasting or any other form of transmission received from any Third-Party Site. Coinbase is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement, approval or recommendation by Coinbase of the site or any association with its operators.

    Crypto is a new type of asset. Besides potential day to day or hour to hour volatility, each crypto asset has unique features. Make sure you research and understand individual assets before you transact.

    All images provided herein are by Coinbase.

    Alchemy Pay (ACH), PlayDapp (PLA) and Rai Reflex Index (RAI) are launching on Coinbase Pro was originally published in The Coinbase Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.



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