Finally, Coinbase adds a fourth cryptocurrency to their exchange, Ethereum Classic.
Investors and consumers have been waiting for another coin to hit Coinbase’s exchanges and the Coinbase standard platform where you can buy cryptocurrencies with fiat currency. Back in June Coinbase teased the addition of Ethereum Classic, a fork of the Ethereum blockchain, to their platform in the coming months.
Coinbase finally made those promises come true and Ethereum Classic can now be traded on Coinbase Pro for individual investors and Coinbase Prime for investing institutions. Those looking to buy Ethereum classic on Coinbase.com and the base Coinbase app will have to wait until there is enough liquidity of the asset. Coinbase estimates the availability of Ethereum Classic at only a few weeks after the initial launch on the former GDAX exchange platforms.
Interesting enough, a day after the announcement of Ethereum Classic going live, Coinbase upped the ante on their daily limits to ,000.
Dustin Hildebrand, investor, in an in-person interview said this of the addition of Ethereum Classic to Coinbase Pro, “the transition was great, being able to buy Ethereum Classic on a Coinbase platform was satisfying.” He added, “Coinbase is trustworthy exchange, with them adding the coin legitimized the project in my mind.”
Ethereum is one of more popular coins on Coinbase, adding its hard fork to the platform could help increase value of both Ethereum and Ethereum Classic.
A hard fork is when the protocol is split from the blockchain. The hard fork and new coin keep the entirety of the transactions of the previous coin but anything new is unique to the new coin. Any transaction recorded to the original blockchain after the fork will stay on the original blockchain.
Ethereum Classic is not the only cryptocurrency Coinbase was looking at. A few weeks ago, in July Coinbase also announced via blog it was also looking into other currencies like Cardano, Stellar Lumens, Basic Attention Token, Zcash, and 0x coin.
For those individual investors and investing institutions it is the time to get Ethereum Classic before it hits Coinbase.com and is available for all the public to buy. Head on over to Coinbase Pro or Coinbase Prime now. For more information on the Ethereum Classic project, check out the whitepaper here.
Article Posted: 07/28/2021 02:02:28 PM