{"id":518430,"date":"2023-02-02T10:43:31","date_gmt":"2023-02-02T10:43:31","guid":{"rendered":"https:\/\/wncen.com\/?p=518430"},"modified":"2023-02-02T11:12:18","modified_gmt":"2023-02-02T11:12:18","slug":"coinbase-wallet-introduces-transaction-preview-for-better-security","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/defi\/coinbase-wallet-introduces-transaction-preview-for-better-security\/","title":{"rendered":"Coinbase Wallet Introduces &#8220;Transaction Preview&#8221; For Better Security"},"content":{"rendered":"<p><span data-preserver-spaces=\"true\">Coinbase Wallet, a non-custodial multi-currency wallet, is adding a new security feature, &#8220;Transaction Preview,&#8221; to give its community &#8220;greater peace of mind during dApp transactions.&#8221;<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">Transaction Preview Feature<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">The new feature was demonstrated by Coinbase Wallet&#8217;s product manager, Ayoola John, in a tweet on February 1.\u00a0<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">\ud83d\udd10 Safety Spotlight<\/p>\n<p>Coinbase Wallet uses a simulation of the blockchain to estimate the outcome of your transaction before you push \u2018confirm\u2019, giving you greater peace of mind during dapp transactions.<\/p>\n<p>Do more and worry less with Coinbase Wallet\ud83d\udc47<a href=\"https:\/\/t.co\/qqr1dmntgo\" rel=\"nofollow\">https:\/\/t.co\/qqr1dmntgo<\/a> <a href=\"https:\/\/t.co\/TjYrl7aaol\" rel=\"nofollow\">pic.twitter.com\/TjYrl7aaol<\/a><\/p>\n<p>&mdash; Coinbase Wallet \ud83d\udee1\ufe0f (@CoinbaseWallet) <a href=\"https:\/\/twitter.com\/CoinbaseWallet\/status\/13690112?ref_src=twsrc%5Etfw\" rel=\"nofollow\">February 1, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span data-preserver-spaces=\"true\">Coinbase Wallet is amongst the most popular non-custodial wallet, after MetaMask, used by many to access DeFi, gaming, NFT, or Metaverse platforms. It is compatible with all EVM-compatible networks. These are platforms that can connect to Ethereum.\u00a0<\/span><\/p>\n<figure id=\"attachment_518432\" aria-describedby=\"caption-attachment-518432\" style=\"width: 1273px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-518432\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/02\/Ethereum-Price-On-February-2.png?resize=1273%2C528\" alt=\"Ethereum Price On February 2\" width=\"1273\" height=\"528\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/02\/Ethereum-Price-On-February-2.png?w=1273 1273w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/02\/Ethereum-Price-On-February-2.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/02\/Ethereum-Price-On-February-2.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/02\/Ethereum-Price-On-February-2.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/02\/Ethereum-Price-On-February-2.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/02\/Ethereum-Price-On-February-2.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><figcaption id=\"caption-attachment-518432\" class=\"wp-caption-text\">Ethereum Price On February 2| Source: <a href=\"https:\/\/www.tradingview.com\/\" target=\"_blank\" rel=\"noopener nofollow\">ETHUSDT on Kucoin, TradingView<\/a><\/figcaption><\/figure>\n<p><span data-preserver-spaces=\"true\">As a non-custodial wallet, users are in charge and fully liable should they lose any of their assets. Typically, any swap or transfer from Coinbase Wallet must be approved by the owner, who signs with the private key.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/analysis\/eth\/ethereum-price-could-take-off-1600\/\">Ethereum Price Could Take-off If It Clears This Key Resistance Zone<\/a><\/div>\n<p><span data-preserver-spaces=\"true\">However, hackers are taking advantage of this ability and devolution of power. Through sophisticated phishing campaigns, token and NFT holders unknowingly end up signing off their assets to nefarious agents. Hours later, they discover their mistake, long after the hacker has sold the asset or transferred it to a mixer to cash out.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Coinbase Wallet seeks to address this through the Transaction Preview feature. Being a safeguard, the wallet creator said users would now preview their transaction before signing it off by pressing confirm. To achieve this, Coinbase Wallet will first simulate the transaction through a copy of the blockchain to estimate the transaction&#8217;s outcome. Once this is done, the sender will have greater peace of mind knowing exactly what the confirming means to their asset balance.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">With the Transaction Preview feature, Coinbase Wallet says the user has more visibility into their transaction and is a &#8220;game changer&#8221;. The overall objective, they add, is to make web3 transactions easier and safer. Still, despite the feature aiming to ease and make transaction execution safer, they recommend that users double-check before confirming.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/analysis\/eth\/bitcoin-ethereum-whale-activities-plummets\/\">Bitcoin and Ethereum Whale Activities Plummet \u2013 Are Whales Getting Bored?<\/a><\/div>\n<p><span data-preserver-spaces=\"true\">The immutable nature of the underlying blockchain means that if transactions are signed off to another user, they will be irrecoverable, even if it was a mistake. There is no way of recalling the transaction, especially if it has already been confirmed on-chain.<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">Coinbase Wallet To Delist XRP and Three More Coins<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">Coinbase Wallet has integrated several blockchains. Apart from Ethereum, it supports several of the platform&#8217;s layer-2s, including Polygon and Arbitrum. The wallet is also compatible with Solana, Fantom, and the BNB Chain. Bitcoin, Dogecoin, and Litecoin; these chains are not EVM-compatible, existing as standalone networks.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">However, from February 20, 2023, Coinbase Wallet will no longer support <a href=\"https:\/\/wncen.com\/analysis\/etc\/ethereum-classic-hashrate-dumps-almost-50\/\" target=\"_blank\" rel=\"noopener \">Ethereum Classic<\/a>, Bitcoin Cash, Stellar Lumens, and XRP, citing low usage.\u00a0<\/span><\/p>\n<div class=\"disclaimer-shortcode\">Feature image from Canva, Chart from TradingView<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Coinbase Wallet, a non-custodial multi-currency wallet, is adding a new security feature, &#8220;Transaction Preview,&#8221; to give its community &#8220;greater peace of mind during dApp transactions.&#8221; Transaction Preview Feature The new feature was demonstrated by Coinbase Wallet&#8217;s product manager, Ayoola John, in a tweet on February 1.\u00a0 \ud83d\udd10 Safety Spotlight Coinbase Wallet uses a simulation of the blockchain to estimate the outcome of your transaction before you push \u2018confirm\u2019, giving you greater peace of mind during dapp transactions. Do more and worry less with Coinbase Wallet\ud83d\udc47https:\/\/t.co\/qqr1dmntgo pic.twitter.com\/TjYrl7aaol &mdash; Coinbase Wallet \ud83d\udee1\ufe0f (@CoinbaseWallet) February 1, 2023 Coinbase Wallet is amongst the most popular non-custodial wallet, after MetaMask, used by many to access DeFi, gaming, NFT, or Metaverse platforms. It is compatible with all EVM-compatible networks. These are platforms that can connect to Ethereum.\u00a0 As a non-custodial wallet, users are in charge and fully liable should they lose any of their assets. Typically, any swap or transfer from Coinbase Wallet must be approved by the owner, who signs with the private key. Related Reading: Ethereum Price Could Take-off If It Clears This Key Resistance Zone However, hackers are taking advantage of this ability and devolution of power. Through sophisticated phishing campaigns, token and NFT holders unknowingly end up signing off their assets to nefarious agents. Hours later, they discover their mistake, long after the hacker has sold the asset or transferred it to a mixer to cash out. Coinbase Wallet seeks to address this through the Transaction Preview feature. Being a safeguard, the wallet creator said users would now preview their transaction before signing it off by pressing confirm. To achieve this, Coinbase Wallet will first simulate the transaction through a copy of the blockchain to estimate the transaction&#8217;s outcome. Once this is done, the sender will have greater peace of mind knowing exactly what the confirming means to their asset balance. With the Transaction Preview feature, Coinbase Wallet says the user has more visibility into their transaction and is a &#8220;game changer&#8221;. The overall objective, they add, is to make web3 transactions easier and safer. Still, despite the feature aiming to ease and make transaction execution safer, they recommend that users double-check before confirming. Related Reading: Bitcoin and Ethereum Whale Activities Plummet \u2013 Are Whales Getting Bored? The immutable nature of the underlying blockchain means that if transactions are signed off to another user, they will be irrecoverable, even if it was a mistake. There is no way of recalling the transaction, especially if it has already been confirmed on-chain. Coinbase Wallet To Delist XRP and Three More Coins Coinbase Wallet has integrated several blockchains. Apart from Ethereum, it supports several of the platform&#8217;s layer-2s, including Polygon and Arbitrum. The wallet is also compatible with Solana, Fantom, and the BNB Chain. Bitcoin, Dogecoin, and Litecoin; these chains are not EVM-compatible, existing as standalone networks. However, from February 20, 2023, Coinbase Wallet will no longer support Ethereum Classic, Bitcoin Cash, Stellar Lumens, and XRP, citing low usage.\u00a0 Feature image from Canva, Chart from TradingView<\/p>\n","protected":false},"author":384,"featured_media":518431,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83405],"tags":[24903,54512,1946],"class_list":["post-518430","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-defi","tag-coinbase-wallet","tag-defi","tag-ethereum"],"acf":[],"yoast_head":"\n<title>Coinbase Wallet Introduces &quot;Transaction Preview&quot; For Better Security<\/title>\n<meta name=\"description\" content=\"Coinbase Wallet, a non-custodial multi-currency wallet, is adding a new security feature, &quot;Transaction Preview,&quot; for better security.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wncen.com\/news\/defi\/coinbase-wallet-introduces-transaction-preview-for-better-security\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Coinbase Wallet Introduces &quot;Transaction Preview&quot; For Better Security\" \/>\n<meta property=\"og:description\" content=\"Coinbase Wallet, a non-custodial multi-currency wallet, is adding a new security feature, &quot;Transaction Preview,&quot; for better security.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/wncen.com\/news\/defi\/coinbase-wallet-introduces-transaction-preview-for-better-security\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2023-02-02T10:43:31+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-02-02T11:12:18+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/02\/Coinbase-Wallet-Transaction-Preview.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1380\" \/>\n\t<meta property=\"og:image:height\" content=\"780\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Dalmas Ngetich\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Dalmas_Ngetich\" \/>\n<meta name=\"twitter:site\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Dalmas Ngetich\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/wncen.com\/news\/defi\/coinbase-wallet-introduces-transaction-preview-for-better-security\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/wncen.com\/news\/defi\/coinbase-wallet-introduces-transaction-preview-for-better-security\/\"},\"author\":{\"name\":\"Dalmas Ngetich\",\"@id\":\"https:\/\/wncen.com\/#\/schema\/person\/08a2c46e8c02b51b9464d6e0bf2b1586\"},\"headline\":\"Coinbase Wallet Introduces &#8220;Transaction Preview&#8221; 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His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape. His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto. The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. 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The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language. Dalmas is here to help make the tech easy to understand and digestible, even for beginners. The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential. This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting. 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His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape. His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto. The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance. His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry. Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion. Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers. DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations. Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language. Dalmas is here to help make the tech easy to understand and digestible, even for beginners. The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential. This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting. 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