Coinbase Launches PayPal-Similar Service

Coinbase, the largest crypto broker and one of the most popular cryptocurrency exchanges, has launched a new service for customers that allows them to easily make payments in cryptocurrency by clicking the Coinbase Commerce button, which is almost identical to the PayPal button.

Before this, the service was provided through Coinbase and users had to register on the Coinbase website, but now they just need to have enough funds in their wallet.

Coinbase has not officially announced anything yet, the empty website states that they are not yet open to new subscribers, but some of their regular users are already using Coinbase Commerce in test mode.

Once the user has selected a product and selected the "make a payment" menu item in front of it A screen appears with different payment methods, including payment with cryptocurrency. Paying with cryptocurrency is as easy as using a credit card or PayPal.

After selecting Coinbase, the user is taken to a page where they can select Ethereum, Bitcoin, Bitcoin Cash, and Litecoin currencies. 

The four proposed currency options are the four cryptocurrencies that are listed on the Coinbase exchange.

Ethereum comes first, with a nicer logo than the others, which is perhaps due to a slight bias on the part of Coinbase, which, it is no secret, has devoted significant resources to supporting the Ethereum ecosystem.

Clicking on any of the four listed options, the user is instantly taken to the final stage to a page familiar to crypto users.

After completing the payment, the website redirects the user to the start page, as happens with PayPal.

It is unclear whether the site asks for payment confirmation if the MetaMask wallet is installed. If not prompted, this feature will likely be coming soon because it would be much more convenient for customers to click a button than to copy and paste information manually.

But even without this feature, payments are as convenient as using a credit card or PayPal, although it is unclear how this 15-minute wait time period fits with Bitcoin, which takes longer to process payments.

With Bitcoin Cash, such an issue is unlikely because customers can use familiar transactions without confirmation, which Coinbase used for Bitcoin until 2014. But transactions with Ethereum, integrated into the MetaMask wallet, are even more convenient than with a credit card or via PayPal.. This is because with this integration, you won't have to search for your wallet and then enter all those numbers, and you won't have to copy the cryptocurrency address, the payment will be processed automatically as long as you have enough funds in your wallet.

This means that the cryptocurrency payment system BitPay has a serious competitor. BitPay has been trying to implement Bitcoin Cash for months, and hasn't even tried to implement Ethereum, while Coinbase offers all of them, plus Litecoin to boot.

BitPay, however, has more users, about 100,000, while Coinbase has about 50,000, but Coinbase's development of Ethereum transactions, with which many innovative projects are now being created, could give it significant advantages.

According to https://www.trustnodes.com