Coinbase Wallet will stop supporting BCH, ETC, XLM and XRP

_act_

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Quote from: mk4 on November 29, 2022, 11:02:48 PM

A heads up: I'm pretty sure the platform in question is Coinbase Wallet — their non-custodial wallet app, not the main Coinbase exchange app. As far as I know this is pretty much just a change in the front-end UI — as anyone can simply export the private key then import them to a wallet that supports these trash coins.

Quote from: joniboini on November 30, 2022, 01:08:40 AM

Yes, this is their "non-custodial wallet" app, you can see their announcement on their Twitter clarifying that those assets are still being traded and users can access them on their exchange as usual. Might be a good time to withdraw your cryptos from their exchange anyway if you don't trade regularly even if this does not happen.

Ref: https://help.coinbase.com/en/wallet/getting-started/what-types-of-crypto-does-wallet-support

Thank you for clarifying this, I did not know it was Coinbase wallet they are talking about, I thought it was the exchange. I will edit the OP to let people know that it is Coinbase wallet.

Because of that, I will lock this thead.

joniboini

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Yes, this is their "non-custodial wallet" app, you can see their announcement on their Twitter clarifying that those assets are still being traded and users can access them on their exchange as usual. Might be a good time to withdraw your cryptos from their exchange anyway if you don't trade regularly even if this does not happen.

Ref: https://help.coinbase.com/en/wallet/getting-started/what-types-of-crypto-does-wallet-support

mk4

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A heads up: I'm pretty sure the platform in question is Coinbase Wallet — their non-custodial wallet app, not the main Coinbase exchange app. As far as I know this is pretty much just a change in the front-end UI — as anyone can simply export the private key then import them to a wallet that supports these trash coins.

owlcatz

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Quote from: _act_ on November 29, 2022, 05:48:23 PM

That means if Coinbase users are not using bitcoin like before, Coinbase do not care, but that can no happen to bitcoin as it is the strongest coin with the highest utility but just saying that Coinbase and other custodial companies only care more about the profit they are making. Coinbase did not say that people are no more using the coins, they said low uage. Which means small transactions and small profit from withdrawal.

They are a real company, with actual shareholders who are hurting right now...

They are free to do what they wish, and I have no issue with them de-listing low-liquidity shitcoins myself lol... Grin

BlackBoss_

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Quote from: _act_ on November 29, 2022, 05:48:23 PM

This is one of the reasons it can be said it is not your coin when it is not your key, see what Coinbase just want to do.

Coinbase did not steal users' coins. They made announcement that they stopped support those coins. Users can move their coins to other wallets, other exchanges, other platforms.

Coinbase did not make an exit scam to steal any coin from their customers.

8rch7

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I am little afraid with long term holding or investor never have any update yet when their coin holding on exchange market, what happen later if their assets have been stop supporting or delisting from exchange market and have few weeks later for holder withdraw their assets. I know with many investor try three until five years later holding with their assets in exchange market but when returning back actually delisting in exchange like Coinbase stop supporting with BCH, ETC, XLM and XRP.

I agree with opinion from @BitMaxz, never hold and trust our cryptocurrency assets holding in exchange market, beside many time altcoin delisting actually worry with exchange suddenly stop working like FTX collapse and much investor money have run away.

sunsilk

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They should be better back from what they used to have before like only having bitcoin, ethereum and litecoin IIRC.

We may see more delisting from different exchanges while for the others like Binance, they've used to get delisting announcements at most times when it's no longer that much contributing to their exchange.

And the demand isn't met with their standards, I've seen known coins before there getting listed and then delisted as well.

But at the end of this, no one should keep their assets to any online wallet like CB.

pixie85

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I'm not gonna cry about it.

BCH is a copycat coin that tried to take over bitcoin's position and failed. I still remember Roger's narrative about the new king.
XRP is a total shitcoin that was already promising great adoption and acceptance by banks in 2014 and 7 years later they're still a shitcoin with no acceptance.

Why do I even bother... I don't use coinbase anyway.

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Quote from: sheenshane on November 29, 2022, 06:54:17 PM

I don't see there's a Bitcoin belong their list, you might mean it's Bitcoin cash (BCH).

What do you mean? Bitcoin still exists on the Coinbase wallet and I just responded to this

Quote

That means if Coinbase users are not using bitcoin like before, Coinbase does not care, but that cannot happen to bitcoin as it is the strongest coin with the highest utility

So I'm talking about Bitcoin not BCH or other coins that they decided to unlisted.

sheenshane

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Quote from: BitMaxz on November 29, 2022, 06:39:55 PM

Why would they remove Bitcoin from their list? it doesn't matter how strong Bitcoin is, the reason why Coinbase exists it's because Bitcoin exists it was only made for Bitcoin.

I don't see there's a Bitcoin belong their list, you might mean it's Bitcoin cash (BCH).

BCH, ETC, XLM, and XRP, are the coins they stop supporting, but I think XRP is still useful when it comes to sending funds because it has a very low fee compared to other altcoins. The rest deserve to be delisted.

It might Coinbase choose a coin that frequently uses by their users, they earn profit through transferring fund and the reason of stop supporting them because their company didn't earn from this coin.

BitMaxz

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Why would they remove Bitcoin from their list? it doesn't matter how strong Bitcoin is, the reason why Coinbase exists it's because Bitcoin exists it was only made for Bitcoin.
The thing is they always do this to not support some coins obviously to take advantage and make a profit or to avoid bankruptcy.

Remember that when there is fork coins exist on Bitcoin they do not support those coins until the price of Bitcoin drops a lot before they decided to support it which is obvious they already made a profit before they send them back to their user's wallet.

So do not trust exchanges keeping your coins from exchanges are very risky having ledger device will the best choice these days.

Ever-young

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Coinbase is a profit making company, so delisting few coins which is just occupying space is a good thing for the organization in as much as they are informing there customers about the action in other for them to move out their funds to other wallet.
Binance has also made a bold step by delisting btcst which I believe the reason for this was because of the price instability which is a kind of risky to their customers.

_act_

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Lightning network is good with small amount of BTC

This is one of the reasons it can be said it is not your coin when it is not your key, see what Coinbase just want to do. By December 5, Coinbase will not support four coins again, the coins are Bitcoin Cash, Ethereum Classic, Stellar Lumens and Ripple. The reason for not supporting the coins again is because of low usage.

https://www.finanzen.ch/nachrichten/aktien/coinbase-wallet-will-stop-supporting-bch-etc-xlm-and-xrp-citing-low-usage-11949889

That means if Coinbase users are not using bitcoin like before, Coinbase do not care, but that can no happen to bitcoin as it is the strongest coin with the highest utility but just saying that Coinbase and other custodial companies only care more about the profit they are making. Coinbase did not say that people are no more using the coins, they said low uage. Which means small transactions and small profit from withdrawal.

Edit: I have just noticed it is not Coinbase exchange but Coinbase wallet which users has the private keys.

Topic: Coinbase Wallet will stop supporting BCH, ETC, XLM and XRP (Read 126 times)