Overview

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Cryptocurrency giant Coinbase recently announced that its ERC-20 self-service asset recovery tool is now available on Ethereum layer 2 blockchain Base, addressing The asset recovery service allows Coinbase customers to recover lost funds for certain ERC-20 assets and send them to a self-custodial wallet. For recoveries over $100, a 5% fee applies on Coinbase has introduced a new self-service asset recovery tool for unsupported ERC-20 tokens. This will enable the recovery of funds mistakenly sent to a This new feature allows Coinbase users to repossess over 4,000 unsupported ERC-20 tokens sent to its ledger. The ERC-20 token is the term used for

Coinbase Unveils Revolutionary Asset Recovery Tool for ERC-20 Tokens on Ethereum Layer 2 Base

Cryptocurrency giant Coinbase recently announced that its ERC-20 self-service asset recovery tool is now available on Ethereum layer 2 blockchain Base, addressing a significant pain point for cryptocurrency users. Lost your ERC-20 tokens? Coinbase's new tool might be your saving grace!

Recover Lost ERC-20 Tokens with Ease

This new feature allows Coinbase users to repossess over 4,000 unsupported ERC-20 tokens sent to its ledger. The ERC-20 token is the term used for tokens created on the Ethereum blockchain using the ERC-20 standard. Accidentally sent an ERC-20 token to your Coinbase account that wasn't officially supported? Previously, recovering these tokens was a complex and often impossible task. Now, Coinbase offers a streamlined solution.

How Coinbase's Asset Recovery Tool Works

The asset recovery service allows Coinbase customers to recover lost funds for certain ERC-20 assets and send them to a self-custodial wallet. This gives users complete control over their recovered assets. Coinbase has introduced a new self-service asset recovery tool for unsupported ERC-20 tokens. This will enable the recovery of funds mistakenly sent to a Coinbase-managed address.

Key Benefits of the Coinbase ERC-20 Recovery Tool:

  • Self-Service: Recover your tokens independently without needing extensive support.
  • Expanded Coverage: Supports the recovery of over 4,000 different ERC-20 tokens.
  • Ethereum Layer 2 Base Integration: Now available on the Base blockchain, offering faster and cheaper transactions.
  • Control Over Recovered Assets: Send your recovered tokens to a self-custodial wallet for complete control.

Coinbase Asset Recovery Fees

For recoveries over $100, a 5% fee applies. This transparent fee structure ensures users understand the cost associated with recovering their lost ERC-20 tokens.

Coinbase: Leading the Way in Cryptocurrency Security and User Empowerment

With this new asset recovery tool, Coinbase continues to demonstrate its commitment to user security and empowerment within the cryptocurrency ecosystem. By simplifying the process of recovering lost ERC-20 tokens, Coinbase is making cryptocurrency more accessible and user-friendly for everyone.

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