Coinbase, the popular cryptocurrency trading platform, has announced that adding new electronic currencies to its currency portfolio is out of the question. But she might change her mind soon.
Are you buying and selling virtual currencies on Coinbase, trying to take advantage of rising and falling prices? If you are looking to diversify your portfolio of electronic assets on the popular cryptocurrency trading platform, you will have to take your time: indeed, the site does not intend to add any other value for the time being.
That's what the company said on Thursday, January 4 in a blog article." As of the date of this press release, we have not yet decided to add any additional assets[...]. Any statement to the contrary is false and not authorized by the company," warns the firm, while rumours were spreading about Ripple's idea of Coinbase. Ripple is currently the popular cryptographic currency.
Bitcoin Cash.
Currently, Coinbase allows exchanges in Bitcoin, Ethereum and Litecoin. Recently, the site has added the possibility to follow the price of Bitcoin Cash, which is a branch derived from Bitcoin, but it is not possible for the moment to buy or sell this electronic currency. Transactions are to begin in January 2018, with no further details.
The integration of Bitcoin Cash into the platform was chaotic. The site was accused of having allowed its employees to transfer this currency in advance, forcing it to suspend any exchange of currency and opening an internal investigation. Since then, the company has tried to reassure its customers and show off its procedures (such as the integration of new crypto-currencies).
Ripple.
An internal committee of experts is responsible for determining whether and when new assets should be added to the platform in accordance with our recommendations. These individuals - and all Coinbase employees - are subject to confidentiality and negotiation restrictions," explains the company. The difficulties in integrating Bitcoin Cash may have played a role in this development.
The Ripple project dates back to 2004 with the founding of RipplePay, a financial service that provides secure transactions for community members. It's not about having a cryptocurrency in the first place. The project evolves in 2012 with the creation of a new company Open Coin, renamed Ripple Labs, and the writing of a payment protocol to transfer money.
However, Coinbase's interest in Ripple could quickly change and perhaps we are already discussing such an addition internally. Indeed, the currency saw a spectacular rise in 2017, with an increase of 36,018%. This is even better than the Bitcoin, which is the star of crypto-currencies and whose volatility is already extremely high.
You’re right man, I agree with you.
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does it make sense to invest in ripple though?
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