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Coinbase Teases Listing of Five New Cryptos including Cardano (ADA)

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Coinbase’s new announcement states that the exchange is looking into five new coins that might be added to its very short list of offered cryptocurrencies. The altcoins in question include Cardano (ADA), Stellar Lumens (XLM), 0x (ZRX), Basic Attention Token (BAT), and Zcash (ZEC).

Coinbase plans new adoptions

It is every altcoin’s dream to get listed on Coinbase, and for some of them, that dream might become a reality very soon. After months of waiting, Coinbase users, as well as fans of five different cryptos have finally received some good news. Coinbase’s announcement, that was just released yesterday, states that the exchange plans to adopt five new digital currencies.

The cryptocurrencies in question include Stellar Lumens (XLM), Cardano (ADA), 0x (ZRX), Zcash (ZEC), and Basic Attention Token (BAT).

Despite the fact that these are not the only coins that Coinbase has decided to open up to recently, their addition will still be important. Recently, Coinbase announced that it will bring back Ehereum Classic (ETC). Still, this listing was not really a groundbreaking event, considering that ETC was already offered on Coinbase in the past. Instead, this marked a comeback for ETC and a testing ground for Coinbase.

Beating the competition

Coinbase is one of the most popular exchanges around. It serves more than 13 million users, and the addition of new tokens might attract even more of them. Of course, Coinbase did not make an official move towards adoption just yet. For now, the exchange is only considering the coins, as well as exploring them, and making sure that they fit the regulations.

If the exchange finds that the coins fit, they will soon join the likes of Bitcoin (BTC), Bitcoin Cash (BCH), Litecoin (LTC), and Ethereum (ETH). By adding more coins, and offering a larger selection, Coinbase is hoping to attract more customers and beat the competition. Of course, this doesn’t mean that the exchange is doing badly as it is.

After all, its revenue was at around $1 billion last year. Even so, the large majority of the margin only came in December, when cryptos skyrocketed and everyone jumped on the opportunity to join in. Now, Coinbase seems to be making an effort to repeat this achievement. The new development came shortly after Binance announced that their profits exceed $300 million already and that they aim at $1 billion by the end of the year.

With a situation like that, it is no wonder that Coinbase wishes to prove that is still equally capable, or better than Binance.

Nothing confirmed just yet

It is worth pointing out that Coinbase has warned against hype since they are still only considering the coins. The exchange stated that there is no guarantee that all of them, or any of them, will actually be listed.

This careful approach is necessary since the exchange would like to prevent another Bitcoin Cash fiasco from happening. Back then, Coinbase announced its support for the coin months ahead, but they did not specify any dates in the original announcement. As expected, BCH’s price went up a lot, and a lot of users accused and sued Coinbase of insider-trading and stating that its employees bought BCH when it was low, and then raised its price to make a profit.

Now, Coinbase is not taking any chances. They have announced the possible listing of multiple coins, as well as carefully-worded explanations and warnings so that the previous situation would not repeat itself.

And, of course, the exchange is being vague about the dates on purpose, for this very reason. Not only that, but it also explained that not all of the coins may be available to everyone and at the same time. This basically means that the exchange plans to reserve the right to experiment with crypto listings, which might lead to better understanding the coin launch. Additionally, they will even gather some valuable data that might improve the user experience.

If they offer the coin to the smaller group and first, and then use their findings while offering the coin to the rest of the world, it does stand to reason that the user experience might be improved on a larger scale.

This is still a very big and a very important announcement for the crypto world. The coins already received a lot of attention from crypto enthusiasts. The biggest questions now include which of the coins will make it to Coinbase’s list, if any, and when can they be expected? For now, this is unknown, but it probably won’t be long before a new announcement is made, and the situation becomes a little clearer.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Altcoins

CoinFlip Scores Big with BRD Wallet Partnership

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As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

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Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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collateralized debt position
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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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Hodium
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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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