Coinbase gives users a chance to change their 42-character crypto wallet addresses to "human-readable" usernames.
Coinbase, an American cryptocurrency exchange established in 2012, has partnered with Ethereum Name Service (ENS) to give customers a chance to replace their long crypto wallet addresses to usernames.
According to the blog post shared on September 20th, users can claim their free “name.cb.id” usernames through Coinbase Wallet’s browsers extension.
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After claiming their usernames, customers can use them for cryptocurrency or non-fungible token (NFTs) transactions. In its blog post, the company claims that simplifying usernames will reduce the anxiety users may feel when typing 42-character addresses. Therefore, the process of sending or receiving crypto would become significantly easier.
The crypto exchange also noted that allowing customers to create “human-readable” usernames is a great step towards making the digital financial system and Web3 more open and user-friendly.
The ENS used Twitter to announce the collaboration, claiming that the partnership was “aligned with our mission to make Web3 more accessible.”
Moreover, in its blog post, Coinbase added that usernames used for their crypto wallets are a great foundation for creating user digital identities.
It seems that the partnership has been already helping ENS to attract new users. According to the data shared by Dune Analytics, September’s monthly registration has already surpassed August’s registration numbers. At the time of writing, more than 310,000 new registrations were logged on ENS servers, while in August, it registered around 302,000.
It is worth noting that, a similar initiative has been launched by the US Web3 startup Unstoppable Domains and blockchain-based crypto education platform BitDegree. Both companies have joined forces to hand out free NFT Domains for users who complete any Web3-related course on the BitDegree platform.