# Coinbase Smart Wallets By [All Street Bets Newsletter](https://paragraph.com/@allstreebetsnewsletter) · 2024-06-04 --- ![](https://storage.googleapis.com/papyrus_images/8d4fee09e8411702f86444723436762f.jpg) The time is almost here (we think). Coinbase has been teasing about their “Smart Wallet” integration these last few weeks with the rumors circulating it will be released to the public on June 5th. But what is the Coinbase Smart Wallet really? And how does it work? What will this mean for $BETS? Good questions, let’s dive in.  **What is it?** Coinbase “Smart Wallet” integration will be a simple and quick portal for users to enter the crypto world - or as you will see all over X, to bring people “On-chain”. Built for mass adoption, any Coinbase account in the world will be able to participate the crypto world easily… you don’t even need a Coinbase Wallet.  ![](https://storage.googleapis.com/papyrus_images/9d29a534ceea649aad592cfe503a6fee.png) Smart Wallet integration will first allow access to Ethereum Layer 2’s such as Base, Polygon, Avalanche, BNB, Zora, Arbitrum & Optimism to start with. This opens the user's world to different coins, NFT’s, communities, ect. in a very simple way with very few steps needed.  Instead of buying Ethereum on an exchange, set up a wallet as an extension (MetaMask), copy and paste the address, use your ETH as gas to transfer this ETH, then hope you sent it to the right place and bridge your ETH to Base; you can set up your Smart Wallet in less than 10 seconds and use your Coinbase ETH balance to transact.  Here is a quick YouTube short clip to summarize:  [https://youtube.com/shorts/L6yXLclVDDI?si=XXEecO4QSFcDRVhu](https://youtube.com/shorts/L6yXLclVDDI?si=XXEecO4QSFcDRVhu) It will even be available for brick and mortar businesses. The team has been contacted by barbers & restaurants to see if Base and Smart Wallets would help reduce their business transaction fees. To cut out the middleman like Mastercard or AMEX who takes a % of each sale.  **How does it work?** Smart Wallet integration uses passkeys (like FaceID or TouchID) instead of seed phrases, hardware wallets or MetaMask extension passwords. This allows the user to go from no wallet to having received the NFT they just minted within seconds. You will need ETH in your Coinbase account for any transaction to work, but soon Smart Wallets will be able to pull money straight from your Debit / Credit card to allow you to transact.  This is made for your everyday person, who does not want to hold many different wallets, send ETH across wallets or not being able to transact for not holding enough ETH for gas. This is crypto made easy. More information can be found at: [smart-wallet.xyz](http://smart-wallet.xyz) Here is a demo of the Base team going from no wallet to minting the NFT in seconds:  [![User Avatar](https://storage.googleapis.com/papyrus_images/846c7ebe155ea2808d01fa8ba581e0e0.png)](https://twitter.com/0xCygaar) [cygaar](https://twitter.com/0xCygaar) [@0xCygaar](https://twitter.com/0xCygaar) [![Twitter Logo](https://paragraph.xyz/editor/twitter/logo.png)](https://twitter.com/0xCygaar/status/1794013681358954594) Just tested Coinbase Smart Wallet for the first time. This is an absolute game changer. Went from no wallet (no extension) to minting an NFT in 20 seconds. All while signing securely with Touch ID. This is how we bring mass retail onchain, huge kudos to the Coinbase team. ![](https://pbs.twimg.com/ext_tw_video_thumb/1794012646217244672/pu/img/uoCYeobHW5wpyrgl.jpg) [![Like Icon](https://paragraph.xyz/editor/twitter/heart.png) 2,309](https://twitter.com/0xCygaar/status/1794013681358954594)[ 3:32 PM • May 24, 2024 ](https://twitter.com/0xCygaar/status/1794013681358954594) **What to expect? /** W**hat does this mean for bets?**  Realistically, I don't think any Base token will see a major inflow of ETH right when the Smart Wallets are released. I hope I am wrong. The peak mania we saw last cycle isn’t here just yet. BUT this sets $BETS up really well for when the retail mania comes. Retail will want the easiest way to get involved, and that will be with Base tokens. They can use the simplicity of the Smart Wallets to get in on the frenzy, instead of having to deal with buying Solana and transferring it and then purchasing on a DEX. Base has seen a consistent increase in new users & volume and I expect this number to increase. Remember, we are only about 10-15% of the way through the bull market average life cycle (peak is usually ~16-18 months AFTER the halving, and we are less than 2 months out from the halving). --- *Originally published on [All Street Bets Newsletter](https://paragraph.com/@allstreebetsnewsletter/coinbase-smart-wallets)*