Coinbase Adding Ethereum Classic (ETC)

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Coinbase adding Ethereum Classic (ETC): Announced earlier, it’s official – the cryptocurrency exchange Coinbase is adding support for a new token, Ethereum Classic!

Coinbase has long been the exchange that has only supported a few tokens, those being Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Bitcoin Cash (BCH). When Coinbase announced it was adding support for ERC20, the hope was that this meant the exchange would soon be adding other tokens to its list – and that hope is now realized.

“We are pleased to announce our intention to add support for Ethereum Classic (ETC) to Coinbase in the coming months. We are announcing this both internally and to the public consistent with our process for adding new assets,” Coinbase stated in its blog.

Right now, the crypto exchange is working on the engineering stage of adding a new asset. In this stage, public-facing APIs will be released, to keep up with transparency throughout the process of Coinbase adding Ethereum Classic.

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In the next few months, Coinbase expects to reach “the final testing phase of the technical integration,” and at that stage, the exchange will announce the ETC launch date on its blog and Twitter page.

Coinbase is being extra careful in its process of adding ETC, no doubt because of the great debacle that occurred when the exchange tried adding Bitcoin Cash. Insider trading or not, Coinbase is making sure that doesn’t happen this time around.

All parts of Coinbase will be adding support for Ethereum Classic, from Coinbase Custody, Markets, Pro, Prime, all the way down to Asset Management. On Coinbase Pro and Coinbase Prime, any customer who had previously held ETC after the July 2016 Ethereum hard fork and who didn’t withdraw that ETC before January 2017 will receive credit for the amount of ETC they held.

Ethereum Classic will be available on Coinbase in all regions where it is compliant with local law.

Ethereum Classic (ETC) is currently selling for $15.41, which puts the coin up 22.51%. It looks like people are responding well to Coinbase’s announcement.

Were you expecting Coinbase to add Ethereum Classic? What token do you want to see supported by the exchange next?

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Featured image: Crypto Hustle

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