Coinbase was founded as a platform and application to transact only with Bitcoin. The company has since announced its intent to add other crypto coins with the goal of becoming a “digital currency company.”
1.)On July 21st, 2016 Coinbase announced that they're is adding support for Ethereum. "Consumers can now easily buy, sell, send, and store Ether in their Coinbase account. To get started, visit the “Trade” page on Coinbase.com or tap on “Buy” or “Sell” options in our iOS or Android apps."
2.)Coinbase rolled out full support for Litecoin, its third cryptocurrency on May 3rd 2017.
-So why Litecoin? Interestingly, Litecoin’s creator, Charlie Lee, has been director of engineering at Coinbase for nearly four years.
3.)Coinbase announced that "As of December 19, 2017 Coinbase will add Bitcoin Cash to our assets. Coinbase customers in qualifying countries will now be able to buy, sell, send and receive Bitcoin Cash.
***Now on March 26th Coinbase announced their intention to support the Ethereum ERC20 technical standard for Coinbase in the coming months.
-In my personal opinion I think Coinbase will come out and SHOCK the crypto world by adding TRX or BAT, in the future.(Watch out for another 0.25 TRX in 12 months)
But will Coinbase Ever add Bitcoin Private(BTCP)
-If we look at the last big Bitcoin Fork Prior to BTCP, BTG, this is what Coinbase had to say: "At this time, Coinbase cannot support Bitcoin Gold because its developers have not made the code available to the public for review. This is a major security risk.
We will continue to monitor the development of Bitcoin Gold, and if its network proves to be both secure and valuable, Coinbase may decide to support it at a later date. "
-About three months have past and Coinbase has not added BTG support, but in the future I think there is still a small chance they could.
** It's been over a month since BTC and ZCL was forked and BTCP was born.
-It took Coinbase from the Bitcoin Cash fork date in early August to December 19, 2017 to credit users with Bitcoin Cash.
*How ever on April 5th Coinbase announced:
"We’re excited to announce our intention to support the withdrawal of Bitcoin Forks across Coinbase products in the coming months. We are announcing this both internally and to the public as consistent with our process for adding new assets.
This change will allow customers to more easily withdraw assets associated with Bitcoin Forks across all Coinbase products. We are not announcing support for any specific assets at this time. As always, we look at technical, operational, and legal considerations when deciding which Bitcoin Fork assets to support and will always state on our website which particular assets are supported."
-What Bitcoin Fork support means:
— will build infrastructure to support FUTURE Bitcoin forks.
*It's also important to remember that Bitcoin Private is a Privacy coin. Coinbase notified approximately 13k of its customers that it was turning their info over to the IRS. Coinbase told those affected that it would be providing their taxpayer ID (social security number), name, birth date, address and transaction records from 2013-2015 to the Internal Revenue Service, by March 16, 2018. -I think it's unlikely Coinbase would add support for a privacy coin considering how hard they brown-nose with .gov.
-- BUT there's one last important element to remember...SINCE Coinbase did not support the BTCP fork, their users holding BTC on the exchange did not get credited BTCP. Meaning coinbase is sitting on a nice stack of BTCP. Do you think they're unloading it now at 15$ a pop on TradeSatoshi?? Nope. It's in their best interest to keep it down low, and buy it up before listing it. I could be wrong but I still think their is a small chance BTCP could be added to Coinbase in the next 12 months. As BTCP holders the best thing we can do is spread Awareness to friends, family, ect and urge the developers to Deliver on their promises.
Thank you for taking the time to read this. Have a wonderful Sunday:) Follow me on Twitter and Instagram for updates. I love you all:)
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