Coinbase has announced its intention of listing more than 30 cryptocurrencies, with many more to follow. In its largest sign-up party to date, the California exchange will add dozens of cryptocurrencies in the coming months, including dai, mana and neo. Moving forward, in the end Coinbase plans to add more than 90 percent of “all digital assets compliant. “
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Coinbase launches into a Blitz List
On December 7, Coinbase shared an ambitious plan to list the scores of digital assets. The eight cryptocurrencies it currently supports, BCH, BTC, ETH, long-term care , ETC, ZRx, ZEC and BAT, will soon be completed by more than 30 others. A blog company explained: “The goal of Coinbase is to provide support for all assets that meet our standards and are fully compliant with local law. Over time, we intend to offer our customers access to over 90% of allDigital assets conforming to market capitalization “.
While focusing on ERC20 tokens, the registration blitz will also include operating assets on other networks such as NEO and XRP. Ripple’s native cryptocurrency had long been a source of speculation, both the company and its owners wishing to XRP to add to the dominant exchange of the United States. While their wish will now come true, drive will have to share the limelight with many more chips scheduled to add at the same time.
Coinbase to compete with rich chip exchanges such as Binance
One of the main drivers of the aggressive Coinbase list policy will be the desire to claim a share of trading volume being absorbed by rich symbolic exchanges such as Binance, which operates 393 markets. Okex has 415 and 290 commercial Huobi pairs. Coinbase achieved record profits last year, but its financial statements for 2018 show a significant drop in sales as market conditions have reduced the appetite of retail investors for cryptocurrencies such as BTC, EPF and BCH.
The complete list of cryptocurrencies Coinbase selected for addition includes cardano (ADA), aeternity (AE), aragon (ANT), bread (BRD), civic (CVC), dai (DAI), district0x (DNT), enjincoin (ENJ), EOS (EOS), golem network (GNT), IOST (IOST), family (KIN), kyber network (KNC), wire mesh (LINK), a loom network (LOOM), loopring (LRC) , decentraland (MANA), the central computer (MFT), manufacturer (MKR), NEO (NEO), omisego (OMG), poet (POE), quarkchain (QKC), auspicious (REP), demand network ( REQ), status (SNT), storj (STORJ), stellar (XLM), ripple (XRP), tezos (XTZ) and zilliqa (ZIL).
“Some of these assets may be available everywhere, while others may not be supported in specific jurisdictions,” the blog post concluded. Coinbase Pro has since announced that it will begin accepting deposits for civic, district0x, loom, and mana before trading begins.
What are your thoughts on the 30 cryptocurrencies Coinbase hears the list? Let us know in the comments section below.