Crypto News Flash #229: Coinbase Announced The Plans Of Adding 40 Other Digital Currencies Including XRP
Coinbase is certainly a popular exchange within cryptocurrency community. With each of their crypto listing, market sees a huge price spike in those particular crypto assets. With increasing competition in crypto space, Coinbase has to expand its business model and currently it is doing the same which a lot crypto exchanges already did in their business lifetime.
Recently, Coinbase announced its plans of adding 40 other crypto assets including the XRP, which is the 3rd largest cryptocurrency in crypto space.
As we all know that crypto assets are highly risky to hold and more riskier to trade and Coinbase has been acting pretty good Custodian in past years actively working in crypto space. So, in order to increase its business as well as inflow of Institutional money into the crypto market, Coinbase announced its plans of expanding its crypto assets custody to 40 other crypto assets trading against USD.
Coinbase is currently the Custodian of 4 Crypto assets namely Bitcoin, Ethereum, Bitcoin cash and Litecoin. Coinbase charges 0.1% per month in addition to $1,00,000 set-up to set-up a Custodian account for Institutional investors. The minimum custody should be $10 Million.
The list of cryptocurrencies which Coinbase is considering to add are as follows:
By adding these crypto, Coinbase is destined to increases its Custodian based revenue for sure.
Although, the Coinbase officials also announced that the above list is not final and crypto assets listing may vary.
By the way, Ethereum Classic (ETC) is listing on Coinbase by 7th August 2018.
Thanks for reading ...!!
This will be huge for the crypto space. Plus, if this picture u posted is correct i see steem on there, that is truly amazing! It should really help propel steem to the next level.. 😎
Yes, the picture is correct. But Coinbase officials said that the final listing may vary so its not finalized.
coinbase good plan increased the quantity of coins and coinbase will be increase the volume for it
thanks for giving great news.....
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Within 3 years coinbase will support 100 cryptocurrencies for sure
This reminds me of the big pump and dump madness when bitcoin cash was added to coinbase. I wonder if history will repeat itself. I wonder how many coinbase employees know before we do what coins will be added and buy up a bunch of them before the offering is realeased?
If robinhood ever adds a wallet to their platform so you can transfer your coins out and still have zero fees coinbase will have some serious competition.