Taproot Now Open to Coinbase Users
After a long gap, Coinbase users can finally access Bitcoin’s Taproot addresses. On Tuesday, Coinbase switched on this long-awaited feature, which has been available elsewhere since 2021. Taproot, the next-gen upgrade for Bitcoin, boosts privacy and reduces costs, and Coinbase was one of the last big players to make the move. Now, millions of Coinbase users can send their BTC to Taproot addresses like it’s no biggie.
Before this, Coinbase customers had serious trouble trying to get their Bitcoin to Taproot-compatible wallets. Failed transfers, delays, and frustration followed anyone who tried. Other exchanges like Kraken and OKX already supported Taproot, but Coinbase lagged behind. Now, it looks like Coinbase has finally caught up.
Schnorr: The Real MVP Behind Taproot
Taproot’s power comes from something called Schnorr signatures. Gregory Maxwell, the Bitcoin Core dev, proposed this clever trick. Schnorr compresses Bitcoin transactions into something smaller, like stuffing a big bag into a tiny suitcase. By making complex transactions look like simple ones, Schnorr cuts down on the data clutter. So you get cheaper and faster transactions, which is a win for anyone trying to avoid high fees.
But Schnorr doesn’t just make things smaller. It makes them stealthier too. Complex Bitcoin transactions—ones with multiple signatures—end up looking like standard transfers. No one can tell the difference, which adds a layer of privacy to every Taproot transaction. So Coinbase users, after waiting in the wings for years, can now enjoy these privacy benefits.
Why Coinbase Users Care
Coinbase’s integration of Taproot isn’t just about cutting fees or making transfers easier. It’s about privacy—something that’s in short supply on most blockchains. With Taproot, Coinbase users now join the ranks of those who can make their transactions harder to trace. So, privacy freaks and fee-cutters alike are celebrating. Taproot also helps with scalability, meaning it can squeeze more transactions into less space.
Now that Coinbase has opened the gates to Taproot, the platform’s Bitcoin users can finally use what other exchanges have been offering for a while.
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