Coinbase introduces plugin for Bitcoin, Ethereum, Bitcoin Cash and Litecoin payments
Coinbase, one of the largest and most popular exchanges for cryptocurrencies, has just launched a new payment system.
The new plugin will allow merchants to accept payments from customers in crypto easily.
This new system will give everyone the opportunity to use the new Coinbase Commerce button and seamlessly integrate crypto payments.
The new addition from one of the world’s leading exchanges was quietly launched, but is already appearing on some websites and appears to work in a very similar fashion to the regular PayPal payment button.
One of the standout features of the new commerce system is, unlike in previous versions, users won’t need a Coinbase account, just cryptocurrency.
According to their website, over 48,000 merchants are already using their integration to accept payments in Bitcoin.
The impressive list of merchants includes Dell, Expedia, Bing, Bloomberg and, perhaps surprisingly, PayPal.
Coinbase has been relatively quiet about the launch of this new addition, but Coinbase Commerce is possibly a game-changer.
New crypto investors are always drawn to Coinbase for its accessibility and user-friendly interface.
The introduction of a simple payment gateway for cryptocurrency could take crypto payments into the mainstream in the same way that PayPal changed “traditional” online payments.
Keeping it simple
Coinbase’s new payment option couldn’t be simpler.
Users are presented with a Coinbase Commerce button right next to the familiar PayPal and card payments buttons:
After selecting the crypto option, you will have the opportunity to pay with Bitcoin, Ethereum, Bitcoin Cash or Litecoin.
Naturally, these are the four coins available on the Coinbase exchange, but are open to users without an account, with no need to sign in.
After selecting your preferred currency, you are directed to a new screen to finalize the payment that will no doubt look familiar to season cryptonians:
Once payment has been completed, users are then directed back to the merchant, just like they would be with PayPal.
The plugin also integrates with MetaMask, which allows users to identify payments with Ethereum securely.
This integration of MetaMask may be what truly makes the new gateway shine, as it will save users having to lookup their wallet information.
Overall, it could make paying with Ethereum even more convenient than PayPal.
A big step forward
The Coinbase launch has seemed to slip under the radar, but it’s a huge step forward for all crypto.
A simple, user-friendly payment gateway system could open up cryptocurrency to a far wider audience.
Mainstream adoption of such payment method will be good for the entire community, but we the integration of MetaMask, it could make for an incredibly rosy future for Ethereum.