September 24, 2023

Brian Armstrong patented a system for sending bitcoins by email

Coinbase cryptocurrency exchange received a patent for a solution that will allow transactions in bitcoins via email addresses associated with hot wallets.

Coinbase CEO Brian Armstrong filed a patent application in 2015.

To send cryptocurrency, according to the description, the sender makes a request indicating the recipient's email address and transaction amount.

For security reasons, both parties to the transactionnotifications are sent, and the system transfers the bitcoins to the recipient's wallet after 48 hours. The administrator has the ability to block suspicious transactions.

The solution also includes the ability to buy and sell bitcoins for fiat through the exchange application.

According to the patent, a commission will only be charged on transactions with external wallets.

Coinbase previously patented a platform that automatically closes unwanted user accounts.