Coinbase is the largest crypto exchange in the United States. It is worth noting that, from now on its wallet supports “.crypto” domains after integrating with blockchain domain provider called Unstoppable Domains.
It means Coinbase users have the opportunity to send payments to each other. This can be done by simply typing “.crypto” domain instead of using long-form cryptographic addresses. Moreover, Coinbase Wallet joined major crypto exchange Huobi when it comes to introducing a similar feature.
The major exchange announced this decision in June. Interestingly, Huobi Wallet which is the self-custody app created by Huobi Group announced support for .crypto blockchain domains. For example, users can send Bitcoin, Ethereum, or other currencies supported by the wallet. Moreover, it is possible to store domains in Huobi Wallet and visible in the collectibles section.
Coinbase wallet and new opportunities
Let’s get back to Coinbase Wallet. Interestingly, the Coinbase Wallet is the first platform to offer “all in one solution” for all cryptocurrencies offered by the wallet. Based on the information provided by Unstoppable Domains, the wallet supports .crypto domains in Bitcoin and Ether. Moreover, as in the case of the Huobi Wallet, the Coinbase Wallet also supports any other currencies provided by the wallet.
This is not the end of the story, as the wallet will also offer custody support .crypto domains in the collectibles section of its application.
Furthermore, Coinbase users can also register and manage domains via the Coinbase decentralized application (DApp) browser. Notably, in order to send a transaction to a domain, users have to add their wallets to Unstoppable Domains within the D’App browser.
Blockchain technology gained popularity among the domain name providers. For example, the major domain registry Verisign bought a blockchain patent to transform domains into blockchain user addresses to enable interactions with other participants on the network. Coinbase made the right decision when it decided to support the “.crypto” domains.