Coinbase, one of the largest crypto exchange platforms in the US, has plans to add new cryptocurrencies to their exchange in 2018. This statement was confirmed by Coinbase CEO, Brian Armstrong, during an interview with CNBC. Most recently, Bitcoin Cash was just added to the Coinbase exchange, which allows traders to buy and sell the asset on the trading platform.
The new cryptocurrencies to be added to Coinbase have not been revealed but recent news has shown that the crypto space is moving towards more mainstream acceptance. The ability to seamlessly purchase cryptocurrency assets on an exchange like Coinbase through traditional payment methods such as credit cards makes it more easily accessible to future investors.
Coinbase’s announcement has led to rumors that top cryptocurrencies like Dash, Ripple, and Monero will be added to the exchange in 2018. The surge in the price of Bitcoin Cash once it hit the Coinbase exchange shows the power and influence that the large exchange has on the price of an asset. This leads some people to believe that whichever altcoins are added to Coinbase will dramatically experience a positive price effect.
Consequently, a lot of speculation has arisen between investors and crypto-enthusiasts on which altcoin to buy before the “big boom” happens. It’s important to realize that rumors on different forums and websites should not be taken seriously as it is all speculation at this point.
Although there are rumors of different coins being added to the exchange, it should be noted that Coinbase would not add a project that doesn’t have a use case, a mission and a vision, legal compliance, market supply and demand.
This brings up the question that everyone wants answered: which coin is next to be added to Coinbase?
A brief overview of the top 10 cryptocurrencies can be seen below:
Given that Bitcoin, Ethereum, Litecoin, and now Bitcoin Cash are all supported on Coinbase, this leaves the remaining 6 in question. Coins that meet the high standards that Coinbase sets could include Dash and IOTA.
Looking at this list, it may be possible that Coinbase will add multiple altcoins that aren’t necessarily listed in the top 10, but the top 20.
Final Thoughts
To summarize:
- Coinbase will add new cryptocurrencies to their trading platform in 2018.
- The cryptocurrencies that are added to Coinbase will automatically listed on GDAX (because Coinbase owns GDAX and GDAX is the trading platform that utilizes the Coinbase log-ins to enable trading).
- Nobody can be certain on which cryptocurrency will be added to Coinbase.
- Even though a new coin is listed on Coinbase, this does not necessarily mean that said coin will be tradable immediately upon the listing.
- Although the coins to be added to Coinbase remain unknown, it is logical to believe a top altcoin will be added.
With more cryptocurrencies being added to big exchanges such as Coinbase, the market continues to grow further. This allows new investors to understand the shift in traditional stores of value and the power of blockchain technology in a decentralized state.
Although 2017 has been a big year in the crypto space, the start of 2018 will bring a lot of changes as the market continues to become more widely accepted.
Related: Coinbase Now Supports ERC-20 Tokens, But Yet to Add New Coins
